Century Mining Corporation

Century Mining Corporation

April 20, 2007 13:57 ET

Century Mining Provides an Update on Exploration Programs in Peru-Exciting Porphyry Potential

BLAINE, WASHINGTON--(CCNMatthews - April 20, 2007) - Century Mining Corporation (TSX VENTURE:CMM) is pleased to provide an update on the exploration program currently underway at the San Juan Mine in southern Peru.

The Company is currently undertaking an aggressive program of target development at the Erika, Veta Clara, Santa Clarita, and Champune prospects. In addition, two diamond drills have been operating at San Juan during January and February with approximately 80 percent of the 2007 drill program completed. Currently, one diamond drill is running full time. Through mid April, 32 drill holes have been completed with more than 7600 meters of drilling. Most of the drilling has focused on the veins in the San Juan mine. However, one hole was completed under the current permit at the Veta Clara mine to the south of San Juan.

Mapping and sampling at the Erika porphyry copper-gold prospect in the southern part of the San Juan land package is approximately 40 percent complete. Preliminary results from the mapping have defined a circular zone of alteration approximately 1.5 kilometers in diameter. This alteration zone includes silicification, and hornfels development in fine-grained sedimentary rocks of the Yura Group. Fracture-controlled iron oxides locally with copper oxides are common. The oxides are the oxidation products of pyrite and chalcopyrite. In the central part of the altered zone, mapping has identified at least 4 different intrusive phases including two quartz-feldspar porphyries. The intrusive phases are present as small stocks and north-northwesterly striking dikes.

Preliminary results from rock chip sampling indicate that higher copper grades are present along the contacts of the various intrusive phases and also within hydrothermal breccias. The highest copper grades encountered thus far are 0.6% copper in multilithic breccias adjacent to late mineral or weakly mineralized high level porphyry dikes.

Typical grades in hornfels and silicified sedimentary rocks range from 0.1 to 0.3% copper and are associated with weak copper oxides, typically chrysocolla. The work also indicates that the current level of exposure of mineralization at Erika is similar to the upper portions of copper porphyry systems. Some of the features typical of the upper part of a system are the lack of potassic alteration, widespread fracture-controlled original sulfides, and late-sericite veinlets ('D' veinlets). Mapping and sampling will continue with the objective of defining the control of mineralization and optimum location for 3 to 5 drill holes. Drilling is planned for the later part of the second quarter of 2007.

Mapping and sampling has also begun at the Veta Clara and Santa Clarita prospects. Both prospects are spatially associated with a major regional fault zone, the Choclon Fault. The work is likely to be completed in April. Historical data at Veta Clara show a large zone of anomalous gold in rocks that measures about 200 meters by 200 meters.

A single drill hole tested the surface gold anomaly at Veta Clara in March. Geologically the zone is associated with multiple vein types hosted by granodiorite and various porphyry intrusions. The drill hole contained fracture controlled pyrite from 2 to as much as 6 percent with strongly anomalous molybdenum and moderately anomalous copper values. Gold concentrations were generally very low to weakly anomalous. The geological and geochemical signature of the area is similar to south Peru copper porphyry systems such as Toquepala or Cuajone. This area appears to be the westward extension of the Santa Clarita porphyry signature and extends westerly another 500 meters. The Company was very encouraged by the results of this hole and believes that it intersects the halo of a major copper gold (molybdenum) porphyry system.

Mapping and sampling will be completed at the Veta Clara, Santa Clarita and Champune prospects by the end of May with drilling to follow later this summer. The Company is waiting for drill permits on theses properties, as well as Erika.

The drilling will continue to focus on the main San Juan veins for the next two months in order to develop NI 43-101 compliant resources and reserves. Results from the Alpacay area south of the Mercedes vein and from the Diagonal vein targets are shown below. Initial results from the Diagonal zone have been received, but the majority of the sample results are pending.

Drill Intercepts at San Juan de Chorunga

HOLE VEIN (meters) (meters) (meters) (g/t) COMMENTS
07SJ-7 Apillao 173.00 173.42 0.4 18.6 includes 173.0 m
to 173.1 m with
77.1 g/t Au
07SJ-7 Apillao 'A' 315.00 316.90 1.72 4.7 includes 316.7 m
to 316.9 m with
36.5 g/t Au
07SJ-7 Apillao 'B' 448.05 448.54 0.4 5.82 includes 448.05 m
to 448.25 m with
14.2 g/t Au
07SJ-8 Diagonal 'C' 73.80 74.24 0.4 1.77 includes 73.85 m
to 73.95 m with
7.55 g/t Au
07SJ-8 Diagonal 'B' 117.30 117.79 0.4 1.5 includes 117.35 m
to 117.45 m with
7.54 g/t Au
07SJ-8 Diagonal 'B' 120.60 121.09 0.4 2.45 includes 120.67 m
to 120.78 m with
12.6 g/t Au
07SJ-9 Apillao no significant
07SJ-10 Alpacay 142.45 142.60 NA 0.29
07SJ-11 Alpacay 59.05 59.90 0.7 1.12
07SJ-12 Diagonal 'C' 90.70 91.26 0.4 6.52 includes from
90.70 m to
91.10 m with
9.22 g/t Au
07SJ-12 Diagonal 'C-2' 110.05 110.80 0.53 3.84
07SJ-12 Diagonal 'C-3' 127.90 127.38 0.4 2.14 includes 127.9 m
to 127.97 m with
14.95 g/t Au
07SJ-12 Diagonal 'C-3' 131.40 130.88 0.4 4.23 includes 131.44 m
to 131.62 m with
10.85 g/t Au
07SJ-12 Diagonal 'B' 176.00 176.46 0.4 51.6 includes 176.03 m
to 176.36 m with
72.23 g/t Au
07SJ-13 Alpacay 59.80 60.23 0.4 3.61 includes 59.9 m
to 60.1 m with
8.35 g/t Au
07SJ-14 Alpacay 54.61 55.01 0.4 272.0 includes 722 g/t
Au and 180 g/t Ag
from 54.65 m to
54.81 m
07SJ-14 Apillao 156.40 156.90 0.4 5.9
07SJ-14 Apillao 'A' 219.70 220.25 0.4 7.1
07SJ-15 Mercedes' No significant
07SJ-16 Diagonal D 134.7 135.1 0.4 3.25 Includes 134.7 -
134.84 m with
9.3 g/t Au
07SJ-17 Diagonals D-E No significant
07SJ-18 Diagonal E 91.2 91.6 0.4 18.6 Includes 91.2 -
91.35 m with
49 g/t Au
07SJ-18 Diagonal D 114.05 114.45 0.4 3.66
07SJ-19 Diagonal E 49.25 49.7 0.45 2.1
07SJ-19 Diagonal D 65.5 65.95 0.45 1.46
07SJ-19 Diagonal D2 200.1 200.5 0.4 2.25

For all exploration samples, the Company submitted either half core or rock chip samples to ALS Chemex, Peru for sample preparation and assay. Fire assaying was carried out on 50 gm samples with atomic absorption finish. On samples assaying greater than 10 g/t gold, gravimetric methods were also used. Appropriate quality control samples and blind certified standards were used and chain of custody seals were used on all sample bags. The on-site supervision of the drilling and sampling was conducted by Mr. Larry Hillesland, Exploration Manager, South America. The results herein described have been prepared under the guidance of Mr. Ross Burns, P. Geo., LG, Vice President of Exploration, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.

Data compilation and validation of the extensive underground database of channel samples is underway. More than 50 percent of the work is complete. The San Juan Mine includes an extensive database of channel samples collected every 2 meters across the veins. There are underground workings on more than 32 veins in the district. These results are posted on plan maps and long-sections for use by the mine over the past 40 years. There are more than 300 maps and sections with usable data for modeling and resource development. In addition, these data represent a database of more than 100,000 samples. At the San Juan Mine, geological staff are working continuously converting these data to a digital format. These data will be entered in an appropriate mining software program for modeling, exploration and target development. In addition, duplicate samples have been collected for validation for a small percentage of the data. These underground samples when verified will also be used in the development of an NI 43-101 compliant resource and reserve estimate.

Completion of the NI 43-101 resource and reserve report for San Juan will likely be completed shortly after the drill program has been completed. Data entry will continue for months afterwards to support modeling and target development.

Margaret Kent, President and CEO, said: "At San Juan we have determined that the majority of the veins are high grade narrow veins. It is estimated that these veins have supported the production of over one million ounces of gold over the past 30 years. Many more ounces of gold will be recovered from these veins. To thoroughly understand the potential of this 20,000 hectare district is a major undertaking, and we now have 4 geologists working full time to expedite this project. The real excitement, however, are the other targets including Erika. We still have much more to learn about the geology of this property and I believe we have the potential for a world-class deposit."

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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