Century Mining responds to Sulliden Directors' Circular



    - Company disappointed with Sulliden's failure to make recommendation -

    BLAINE, WA, Dec. 19 /CNW/ - Century Mining Corporation (CMM: TSX-V) today
responded to the Directors' Circular issued by Sulliden Exploration Inc. on
December 13, 2007 regarding Century's offer to purchase all of the common
shares of Sulliden.
    Century's management expressed extreme disappointment that Sulliden's
Board of Directors was unable to make a recommendation to its shareholders
regarding Century's takeover bid, despite having negotiated with Century and
reviewed information provided to them by Century over a 9-month period
beginning March 2007.

    
    Misleading or false statements in Sulliden's Directors' Circular include:

    -  Claims that Century did not provide information about certain
       contracts and agreements are false.

       Specifically, Sulliden's Directors' Circular states, "some (but not
       all) of the details of the agreement between Century and Sanchez-
       Paredes were disclosed to Sulliden." Over the past nine months,
       Century has consistently provided all information requested by
       Sulliden in a timely manner, including the agreements of Century's
       purchase of the companies with title to the Shahuindo concessions,
       which were sent directly to the Venezuelan offices of Macleod Dixon
       LLP (Sulliden's legal advisors). Century further noted that there are
       currently no outstanding requests for information from Sulliden.

       Century's management is therefore of the opinion that Sulliden's Board
       of Directors has all relevant information about Century Mining
       necessary to make a recommendation pertaining to Century's offer, and
       that Sulliden's main reason for not making a recommendation is without
       foundation. The Company also became aware that Sulliden discharged its
       financial advisor, J.F. Mackie & Co. Ltd., and to the best of
       Century's knowledge, Sulliden has not since retained a financial
       advisor to assist in the evaluation of Century's offer.

    -  Sulliden's Directors' Circular also cites communication from Sulliden
       to the effect that Century values the Shahuindo property at US$300 -
       $400 million, but does not assign that same value to Sulliden
       shareholders in the proposed share exchange ratio.

       Century believes this statement to be misleading because Century views
       itself, not Sulliden, as the rightful owner of the Shahuindo property,
       and the proposed exchange ratio is not intended as compensation to
       Sulliden shareholders for the Shahuindo property. Furthermore, the
       $300 - $400 million valuation was based on the assumption of a
       portfolio of operating mines in the new company after the proposed
       combination, not on Shahuindo as a stand-alone project. That valuation
       therefore includes an allocation for Century's San Juan Gold Mine and
       the Rosario De Belen Mine in Peru, as well as its Lamaque Mine in
       Quebec.
    

    In order to further alleviate concerns outlined in Sulliden's Directors'
Circular regarding Century's assets, financial condition and contractual
relationships, Century in the past has forwarded comprehensive financial
models prepared by Century's financial advisors. Century at all times has been
prepared to meet with Sulliden's management and legal advisors to discuss the
details of these financial models and the legal agreements. Furthermore,
Century has and continues to encourage Sulliden and its advisors to visit all
of Century's mine sites in Canada and Peru. Century is prepared to arrange
meetings between Sulliden and Century's legal counsel, financial advisors and
independent technical consultants, who are currently preparing 43-101
compliant technical reports for Century's gold-producing properties in Canada
and Peru.
    Margaret M. Kent, President and C.E.O. of Century Mining commented, "We
were surprised and disappointed by Sulliden's Directors' Circular. For the
last nine months, Century and its legal and financial advisors have worked
diligently and in good faith with Sulliden to reach an agreement that would
benefit all stakeholders. We are concerned that the interests of Sulliden's
management are not necessarily aligned with those of their shareholders;
particularly in terms of resolving this dispute, minimizing expenditures from
their treasury and moving forward with the development of a mine at Shahuindo.
Unfortunately, this latest failure by Sulliden to make a recommendation or
propose any alternative to its shareholders is indicative of their general
non-committal stance toward shareholders, as further evidenced by outdated and
incorrect information on Sulliden's home page, including share information
dated January 1, 2007, its latest investor presentation dated February 2005,
and its latest analyst reports dated 2004."

    Note: Details of Century's takeover bid for Sulliden may be viewed on the
SEDAR website at www.sedar.com

    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 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.

    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
    release.

    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.
    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: 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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