Century Mining Corporation

Century Mining Corporation

November 21, 2007 15:10 ET

Century Mining Announces an Additional C$8 Million in Flow-Through and Unit Financings

BLAINE, WASHINGTON--(Marketwire - Nov. 21, 2007) - Century Mining Corporation (TSX VENTURE:CMM) announced today that, subject to regulatory approval, it intends to complete a non-brokered private placement of up to C$8 million comprised of C$4 million of flow-through shares at C$0.50 per flow-through share and C$4 million of units at C$0.40 per unit. Each unit will comprise one share and one-half share purchase warrant for the common stock of Century, exercisable at a price of C$0.75 per share for a 24-month period from the date of issue. Century will pay a finder's fee of 6% cash and broker warrants equal to 4% of the number of units and flow-through shares purchased by investors introduced to the Company. All of the securities issued under these private placements will be subject to a four-month hold period.

Margaret Kent, President and CEO, said, "This last tranche of financing, combined with the previously announced C$6.6 million private placement, will complete the financing necessary to bring the Lamaque mine up to 1,600 to 1,800 tonnes per day by the end of 2008, and will provide the capital necessary to expand the San Juan mine and mill."

About Century Mining Corporation

Century Mining Corporation is an emerging mid-tier gold producer that is aggressively acquiring producing mines and exploration properties in Peru. The Company owns and produces gold at the Lamaque mine in Quebec that historically has produced over 9.5 million ounces of gold. In Peru, Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Century subsidiaries have also recently acquired Rosario de Belen where it accounts for 100% of both gold and silver production. Century's growth strategy is to acquire gold producing assets in South America that will substantially reduce the Company's consolidated total cash cost of production and where there is exceptional exploration potential to expand production at these mines.

On behalf of the Board of Directors,

Margaret M. Kent, Chairman, President & CEO

Caution Concerning Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.

While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

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