Century Mining Corporation

Century Mining Corporation

March 29, 2007 09:30 ET

Century Mining Files NI 43-101 Technical Report on San Juan Property, Peru-Reserve & Resource Report Due in 3 Months

BLAINE, WASHINGTON--(CCNMatthews - March 29, 2007) - Century Mining Corporation (TSX VENTURE:CMM) is pleased to announce that the Company has filed an NI 43-101 Technical Report on its San Juan Property located in Arequipa Department, Peru. The report, dated 19 March 2007, was prepared by Chlumsky, Armbrust and Meyer, LLC ("CAM") for the Company for the purpose of providing technical data relating to the San Juan de Chorunga property. The report does not present any quantified mineral resources or reserves, except those of a historical nature from previous operators, which are not NI 43-101 compliant and should not be relied on. The report is available on www.sedar.com.

The Technical Report was prepared in order to report on the geology, mineralization, history and current operations at San Juan. The report was assembled from numerous separate documents, as there has never previously been a comprehensive report prepared on the district. A further report, which will be completed in three months, will contain mineral resources and reserves that will be compliant with NI 43-101 standards of disclosure.

The CAM report was prepared pursuant to a visit to the San Juan property by Dr. Fred Barnard, a geologist and qualified person. Dr. Barnard's visit included an overview of the mineralized district from the Pampa Las Yeseras plateau; inspection of Century's surface drilling program; examination of the Mercedes and San Juan veins and underground mining method; a visit to the geological office at the San Juan camp; and a visit to the metallurgical plant at San Juan. Dr. Barnard also visited and examined the Company's other prospects at Champune, Erika, Santa Clarita, and Veta Clara.

CAM conclude that the San Juan property shows good potential for many years of gold production in the known veins, as well as potential for the discovery of economic copper, molybdenum, and gold deposits in the known mineralized porphyry-copper systems.

CAM recommended a drilling program and related work to define NI 43-101 compliant mineral resources and reserves in the known productive veins, as well as exploration of the porphyry-copper systems. The recommended work program is estimated to cost US$1.5 million. The Company has already spent US$0.8 million of this amount on the on-going drilling program, which forms the bulk of the work program that commenced at the end of last year.

Approximately 3,800 meters of drilling have been completed to date with approximately 3,000 meters of additional drilling required to complete the program over the next two to three months. Concurrently, six people are working to provide 24 hours per day input on scanning and entering 40 years of underground data so that the reserve and resource calculations can be made.

Margaret Kent, President and CEO, commented: "CAM's NI 43-101 Technical Report is a prelude to a more detailed technical report that will quantify mineral resources and reserves after we have completed the current exploration drilling program at San Juan. CAM's conclusion that the San Juan property has good potential for many years of gold production, in addition to the potential for the discovery of economic copper, molybdenum and gold deposits on our neighboring properties, confirms our high expectations when we carried out due diligence prior to acquiring these properties in May of last year. We are excited about the prospects for a major mineral discovery in this district and the positive impact this will have on the market value of Century."

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 Sigma and Lamaque mines in Quebec that historically have produced over 9.4 million ounces of gold. In Peru, Century owns an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold 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.

Margaret M. Kent, Chairman, President & C.E.O.

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.

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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