Century Mining Corporation
TSX VENTURE : CMM

Century Mining Corporation

December 06, 2006 09:30 ET

Century Mining Provides Update on San Juan Exploration Program

BLAINE, WASHINGTON--(CCNMatthews - Dec. 6, 2006) - Century Mining Corporation (TSX VENTURE:CMM) is pleased to provide an update on its exploration program in Peru. In Peru the Company owns the San Juan mine in Arequipa Province of southern Peru, which has at least six excellent exploration targets on its 250 km2 property, and the Colina Dorada property located in the province of Piura in northern Peru.

San Juan Exploration Update

The Company's exploration team in Peru has begun surface and underground drilling at the San Juan mine. The Company currently has two drills in operation, one underground and one surface drill, and has contracted a third drill rig to begin operations in December, which will augment the surface drilling program at the site.

In addition to the completion of access roads, drill platforms and other ancillary work to expedite the exploration program, Century maintains full-time professional staff on site, including the Company's Manager of Exploration in Peru and four geologists.

The drilling program currently underway is intended to expand the known mineralization of the San Juan exploration block. The Company expects to complete this 3,000 meter program by early February 2007.

Meanwhile, Century has applied for an additional drilling permit to further expand San Juan resources. Upon approval of this application, the Company will apply for an exploration permit for the Alcapay area, which is a continuation of the San Juan veins across the Chorunga River. Concurrently, the Company has commenced an age dating program that will more clearly identify the fundamental geology at San Juan.

Regarding other exploration targets on the San Juan property, Century has acquired additional land concessions in the San Juan district to supplement the Company's current land package.

Margaret Kent, President & CEO, commented: "We are very pleased with the progress we have made since acquiring San Juan in May of this year. Despite initial delays, we will now have three drill rigs working at the San Juan Mine, which is the first step in a comprehensive exploration program. We are excited to have started the drilling program, and will announce these results as they become available."

About Century Mining Corporation

Century Mining 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 this year Century acquired control of 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.

Contact Information