Wega Mining ASA
OSLO STOCK EXCHANGE : WEMI

Wega Mining ASA

July 08, 2008 05:59 ET

Wega Mining Ceases to Be an Insider of Century Mining

TORONTO, ONTARIO and OSLO, NORWAY--(Marketwire - July 8, 2008) - Wega Mining ASA (OSLO:WEMI) ("Wega Mining") has announced that as of July 4, 2008, it ceased to be an insider of Century Mining Corporation ("Century"). Since June 1, 2007, Wega Mining has disposed of an aggregate of 9,446,500 common shares of Century on the TSX Venture Exchange, including its most recent disposition of an aggregate of 5,000,000 shares on July 3 and 4, 2008 at an average price of $0.0636 per share, representing approximately 3% of the issued and outstanding shares publicly disclosed by Century.

As a result of these most recent sales, Wega Mining now holds 15,355,146 common shares of Century, representing approximately 9.1% of the issued and outstanding shares publicly disclosed by Century. Wega Mining continues to hold warrants exercisable to acquire an aggregate of 3,370,786 additional common shares. Assuming the exercise of all of the warrants held by Wega Mining, Wega Mining would own 18,725,932 shares of Century, representing approximately 11% of the issued and outstanding shares publicly disclosed by Century, or approximately 9.9% of the shares of Century calculated on a fully diluted basis, assuming the exercise of and based on the total number of outstanding warrants and options to acquire common shares publicly disclosed by Century.

Wega Mining continues to hold securities in Century for investment purposes. Wega Mining's investment in Century will continue to be reviewed on an ongoing basis and its holdings may be increased or decreased in the future.

About Wega Mining ASA

Wega Mining ASA is an Oslo-based international mining company focused on exploring, developing and operating gold, copper and zinc deposits. The company currently operates in Guinea, Burkina Faso, Mali, Canada, Portugal, Ecuador, Romania and Norway. Wega Mining ASA trades on Oslo Axess, an exchange regulated by the Oslo Stock Exchange. Additional details about Wega Mining can be accessed at www.wegamining.com.

Contact Information

  • Wega Mining ASA
    Sverre Slattsveen
    Chief Financial Officer
    +47 6751 9000
    Email: www.wegamining.com