Century Mining Corporation

Century Mining Corporation

September 07, 2007 18:53 ET

Century Mining Reports Amended Second Quarter Cash Flow

BLAINE, WASHINGTON--(Marketwire - Sept. 7, 2007) - Century Mining Corporation (TSX VENTURE:CMM) announces the filing of its amended Financial Statements and Management's Discussion & Analysis for the second quarter ended June 30, 2007.

The amendment was necessitated because of a clerical error in the cash flow statements with respect to foreign exchange losses. The amendment affects only the reported cash flow statements. The consolidated balance sheet and consolidated statement of operations and deficit are unchanged from the original filing. As a result of the corrections, cash flows from operating activities after net changes to working capital account balances are $2,279,682 for the second quarter of 2007 and $6,190,643 for the first half of 2007, versus $429,503 and $3,321,254, respectively, as originally reported. Cash flows used in investing activities are $9,304,727 for the second quarter and $15,243,998 for the first half, versus $7,454,548 and $12,379,789, respectively, as originally reported. The net increases in cash and cash equivalent of $7,955,664 for the quarter and $7,429,643 for the half are unchanged from the original report.

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 wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Century subsidiaries have also recently acquired Rosario de Belen where it accounts for 100% of both gold and silver 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 & CEO

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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