Century Mining Announces The Addition Of 428,000 Gold Ounces At The Lamaque Mining Complex



    - Company also increases inferred gold resources by 285,000 ounces -

    BLAINE, WA, Feb. 24 /CNW/ - Century Mining Corporation (CMM: TSX-V) today
announced that significant progress has been made over the last several months
through additional historical data input and computer modeling of the mineral
resources at the Company's Lamaque underground gold complex.
    The updated data input and model includes new resources defined from
1,000 - 2,000 feet below surface. The intersections were calculated using
information from an additional 1,100 diamond drill holes, 26,500 assays and
9,800 moil samples that have been entered since the issuance of the Company's
NI 43-101 technical report in April 2008. As a result, a detailed block model
identified 428,357 ounces of new measured and indicated gold resources in an
area previously estimated to contain only 70,916 ounces of gold. Furthermore,
285,452 additional ounces of gold in the inferred category have been
identified.

    
    -------------------------------------------------------------------------
                   NI 43-101 Compliant Reserves & Resources
    -------------------------------------------------------------------------
                                        Metric        Grade
    Category                            Tonnes     grams/tonne   Gold Ounces
    -------------------------------------------------------------------------
    Proven & Probable Reserves         7,736,181       4.56        1,134,971
    -------------------------------------------------------------------------
    Measured & Indicated Resource      3,687,308       5.27          624,201
    -------------------------------------------------------------------------
    Inferred Resource                 17,839,915       4.83        2,832,389
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
                       Updated Resources February 2009
    -------------------------------------------------------------------------
                                        Metric        Grade
    Category                            Tonnes     grams/tonne   Gold Ounces
    -------------------------------------------------------------------------
    Proven & Probable Reserves         7,736,181       4.56        1,134,971
    -------------------------------------------------------------------------
    Measured & Indicated Resource      6,523,328       5.02        1,052,558
    -------------------------------------------------------------------------
    Inferred Resource                 19,582,237       4.95        3,117,841
    -------------------------------------------------------------------------

    Note: The above resources were calculated using the Inverse Distance
          Weighted (IDW) Power of "2" method at a cutoff grade of 2.1 g/t Au.
    

    Since completion of the Company's NI 43-101 technical report in April
2008, Century's team of engineers and geologists have continued to digitize,
scan and compile additional historic underground data from previous owners
Teck Cominco and Placer Dome to develop a single Vulcan database and model for
use in its short and long term mine planning strategies. The updated model
announced today adds to the previous model that had been completed from
surface to 6,000 feet.
    Century also noted several diamond drill hole additions to the model that
yielded assay results within unmined dyke and shear structures, including a
diamond drill hole containing 91 continuous feet grading 9.0 grams per tonne.
Other notable diamond drill holes from unmined areas used in the updated model
are shown in the following table:

    
    -------------------------------------------------------------------------
                       From         To        True Length      Average Grade
    Hole ID           (feet)      (feet)        (feet)            (g/t Au)
    -------------------------------------------------------------------------
    16178               0.0        72.5          71.8               8.30
    -------------------------------------------------------------------------
    16179              32.2        78.8          46.4              10.53
    -------------------------------------------------------------------------
    14580               1.4        92.2          90.5               9.00
    -------------------------------------------------------------------------
    16028               0.0        40.5          40.3               3.75
    -------------------------------------------------------------------------
    14027              10.0        42.5          29.9               5.50
    -------------------------------------------------------------------------
    

    These newly defined dyke and shear structures indicate the presence of
large virgin ore zones, which may be bulk mined within 2,000 feet of surface.
Along with these results, the Company still has a significant amount of data
to enter for modeling along strike from surface to the 2,000 foot level. Data
input and calculation for this zone is ongoing, and the Company will make
further announcements when subsequent calculations are complete.
    The mine site is located in the prolific Abitibi camp, where over 120
million ounces of gold have been produced historically. The Lamaque
Underground mine complex has produced over 9.2 million ounces of gold
historically.
    The resource evaluations in this press release were prepared by Mr. Ross
Burns, P Geo., LG, Vice President of Exploration. This press release was
prepared under the guidance of Mr. Burns, who is designated as a Qualified
Person under National Instrument 43-101, with the ability and authority to
verify the authenticity and validity of the data.

    About Century Mining Corporation

    Century Mining Corporation is a junior gold producer. The Company owns
and is working towards the restart of the Lamaque mine in Québec that
historically has produced over 9.2 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. Total gold production for 2006
and 2007 was 70,401 ounces and 63,124 ounces of gold, respectively.

    
    "Margaret M. Kent"

    Chairman, President & CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this press
    release.
    

    Caution Concerning Forward-Looking Information

    This press release contains forward looking statements within the meaning
of the United States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of applicable Canadian
securities laws. We use words such as "may", "will", "should", "anticipate",
"plan", "expect", "believe", "estimate" and similar terminology to identify
forward-looking statements and forward-looking information. Such statements
and information are 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 statements and information
involve 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 information and accordingly, readers
should not place undue reliance on such statements and information. 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 commodity 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 included in this
Annual Report, in our Annual Information Form and in other filings made by us
with the Securities and Exchange Commission and with Canadian securities
regulatory authorities and available at www.sedar.com.
    While the Company believes that the expectations expressed by such
forward-looking statements and forward-looking information and the
assumptions, estimates, opinions and analysis underlying such expectations are
reasonable, there can be no assurance that they will prove to be correct. In
evaluating forward-looking statements and information, readers should
carefully consider the various factors which could cause actual results or
events to differ materially from those expressed or implied in the
forward-looking statements and forward-looking information.





For further information:

For further information: For further investor information, please
contact: Brent Jones, Manager of Investor Relations, E-mail:
bjones@centurymining.com, Phone: (877) 284-6535, or (360) 332-4653, Fax: (360)
332-4652, Website: www.centurymining.com

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CENTURY MINING CORPORATION

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