Century Mining Corporation

Century Mining Corporation

August 31, 2011 16:00 ET

Century Mining Announces Support for Proposed Business Combination With White Tiger Gold

VAL D'OR, QUEBEC--(Marketwire - Aug. 31, 2011) - Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce that the Company has received a letter from Ms. Margaret (Peggy) Kent, the former President and CEO of the Company, regarding Century's proposed business combination with White Tiger Gold Ltd. ("White Tiger Gold") in which Ms. Kent confirms her support for the proposed business combination and her intention to vote FOR the proposed business combination. In her letter, Ms. Kent writes:

"Although I resigned from my position as President and CEO of Century Mining Corporation just over a year ago, I continue to hold a significant number of shares of Century, and I am very interested in maximizing the value of my Century holdings. After reviewing the information circular issued by Century and Century's recent financial statements as of June 30, 2011, I have elected to vote FOR the proposed merger with White Tiger Gold. The merger will provide access to the capital needed to complete the Lamaque Project ramp-up in Québec and to unlock the additional value of the San Juan mine in Peru. These are projects which I initiated and would like to see come to full realization. Further, funds should be available to explore Century's resource properties in Québec and Peru, for which Century has not been able to conduct any exploration programs. I have always believed that Century's exploration properties hold great promise. Additionally, the Russian properties of White Tiger will both diversify and expand the resource base of the combined company. From the beginning of my conversations with Maxim Finskiy, he has expressed a strong, genuine commitment to building a mid-tier gold company with the Lamaque property as an anchor and including other assets that he would bring to the company. His financial resources, and sources of capital that will be available to Century through his White Tiger relationships, will be instrumental in achieving that goal."

On March 14, 2011, Century and White Tiger announced the entering into of an arrangement agreement regarding a proposed business combination whereby Century shareholders would receive 0.4 of a White Tiger Gold share for each Century share under a plan of arrangement.

Completion of the business combination remains subject to, among other things, the approval of the disinterested shareholders of each of Century and White Tiger Gold at the special meetings of each company to be held on September 13, 2011, approval of the Ontario Superior Court of Justice and any required approval under the Investment Canada Act and final approval of the TSX.

About Century Mining Corporation

Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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