BLAINE, WA, Feb. 19 /CNW/ - Century Mining Corporation (CMM: TSX-V)
announced the appointment of Richard Meschke as Chief Financial Officer. Mr.
Meschke has had extensive experience in the mining industry, including
19 years with AMAX Inc. and its successor, Cyprus Amax Minerals Company, where
he held executive positions in finance, business development and operations
with the Energy and Base & Precious Metals groups. Mr. Meschke's
accomplishments include the successful negotiation of senior credit
facilities, financial planning, reporting and analysis, and completion of more
than $500 million in acquisitions and divestitures. Mr. Meschke holds a
B.A. degree in economics, an MBA and a law degree. Mr. Meschke was formerly
Century's Director of Acquisitions.
The Company also announced that it has granted a total of 600,000 stock
options, all of which were granted to directors and officers of the Company.
The stock options are exercisable into common shares of Century at an exercise
price of C$0.28 per share for a period of five years. Century's common shares
closed at C$0.265 on the TSX Venture Exchange on February 18, 2008. The
options announced today are part of an annual grant that make up a key
component of directors' and officers' annual compensation.
Century Mining has 162,965,695 common shares issued and outstanding.
Under the terms of the Company's "rolling" Incentive Stock Option Plan, a
maximum of 16,296,570 shares are available to be issued pursuant to the
exercise of options at this time. Including this grant of 600,000 options, a
total of 7,544,000 shares have been reserved for issuance pursuant to
outstanding option grants. A further 8,752,570 shares are available for
issuance pursuant to future option grants at this time.
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 Lamaque mine in Québec that historically
has produced over 9.4 million ounces of gold. In Peru, Century's wholly-owned
subsidiaries own an 82.6% interest in the San Juan Mine where the Company
accounts for 100% of gold production. Century's subsidiaries also operate the
Rosario de Belen mine 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.
On behalf of the Board of Directors,
"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
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
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: Brent Jones, Manager of Investor Relations,
E-mail: email@example.com, Phone: (877) 284-6535, or (360) 332-4653,
Fax: (360) 332-4652, Website: www.centurymining.com