Century Mining Corporation

Century Mining Corporation

January 04, 2011 08:30 ET

Century Mining Appoints New President & CEO

BLAINE, WASHINGTON--(Marketwire - Jan. 4, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce the appointment of Mr. Daniel Major, B. Eng. (Honors) as the Company's new President, Chief Executive Officer and Director, with his appointment effective January 3, 2011.

"We are extremely fortunate to have a person of Daniel's calibre and experience to lead Century at this stage of its development. His broad and diversified experience will benefit the Company's current and future development of its extensive gold resources," said Keith Hulley, interim CEO of Century Mining.

Mr. Major brings close to 25 years of extensive international mining experience, including mine development planning, project development, operations management, commercial negotiations, project and debt financing, and mergers and acquisitions.

Mr. Major's recent roles included COO of Ecometals Limited, overcoming political and legal issues in South America to advance the company's exploration and development projects. Prior to that Mr. Major was at Basic Element, a large and diversified Moscow-based conglomerate that he joined in 2003. He was CEO of the resource division, specifically responsible for development of the mining and other assets in Russia. The division had an annual revenue turnover in excess of a half a billion dollars, and was a producer of approximately 8% of global ferro molybdenum. This division had over 17,000 employees, and under his tenure the mines achieved two million manhours without a lost time accident.

Earlier in Mr. Major's career, he spent time as an investment banker and senior mining analyst at financial institutions that included JP Morgan and HSBC, where he was part of the No. 1 ranked Global Mining Team. He holds a B.Eng. (Honors) from Camborne School of Mines in Cornwall, England.

Concurrently with Mr. Major's appointment, Mr. Keith Hulley will step down from the position of Interim CEO and also leave the Board of Century Mining to enjoy his retirement.

"I would like to thank Keith for his hard work and dedication during this transition period since August 2010. Keith's dedication to the Company to ensure progress continues at the Lamaque and San Juan gold mine operations has been invaluable and at 71 years of age and over 45 years in the mining field, we wish him a well deserved retirement," commented Ricardo Campoy, Lead Director of Century.

Mr. Daniel Major, Century's new President and CEO, has been granted 3,000,000 stock options for a period of five years at the closing price as at January 4, 2011. The Company has also granted stock options to Officers, employees and consultants to purchase up to 995,000 shares (445,000 shares at a price of $0.44 per share and 550,000 shares at a price of $0.43 per share) for a period of five years, which includes 225,000 options priced at $0.43 per share to Officers. 

About Century Mining Corporation

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

On behalf of Century Mining Corporation,

Ricardo Campoy, Lead Director

Caution Concerning Forward-Looking Information

This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are 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 statements and information involve 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 information and accordingly, readers should not place undue reliance on such statements and information. 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 commodity 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 included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and 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.

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.

Contact Information