Century Mining Responds To Cease Trade Order Issued By BCSC

    BLAINE, WA, March 14 /CNW/ - Century Mining Corporation (CMM: TSX-V)
announced today that it received a fax from the British Columbia Securities
Commission (the BCSC or the Commission) at 5:00 p.m. today advising the
Company that the BCSC had issued a cease trade order (CTO) in British Columbia
concerning alleged deficiencies in both the Company's interim financial
statements and MD&A filed on SEDAR November 30, 2007; and in the Company's NI
43-101 technical report on the Lamaque Property that was filed on SEDAR
February 26, 2008.
    Century was not given advance notice of the BCSC's concerns. The fax
received today from the BCSC refers to a letter issued to the Company on
February 21, 2008 which the Company did not receive since the postal address
referred to in the fax is no longer valid. Therefore Century had no
opportunity to respond to the BCSC's concerns before the CTO was imposed.
    The Company is trying to contact BCSC executives this weekend to discuss
the Commission's concerns and to request a reasonable period of time within
which to address them.
    Margaret Kent, President & CEO said: "I am disappointed that the BCSC did
not properly give the Company notice of the cease trade order it imposed at
the last possible moment on a Friday afternoon. We will be discussing the
Commission's concerns regarding our financial statements and technical report
with our auditors and technical consultant, respectively. We believe the cease
trade order should be lifted until Century and its advisors have had an
opportunity to fully respond with any and all information requested."

    Margaret M. Kent
    Chairman, President & CEO

    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: bjones@centurymining.com, Phone: (877) 284-6535 or (360) 332-4653,
Fax: (360) 332-4652, Website: www.centurymining.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890