Peruvian court rules in Algamarca's favor



    Key advance for Century's development of Shahuindo

    BLAINE, WA, Aug. 15 /CNW/ - Century Mining Corporation (TSX-V:CMM) today
received notice that the Superior Court of Lima ruled in Algamarca's favor
nullifying the 2006 arbitral award and declaring the arbitral agreement
invalid because of the insufficiency of Mr. Miguel de Orbegoso Tudela's power
to enter into that agreement. The arbitral agreement forms part of the 2002
transfer agreement between Sulliden Shahuindo S.A.C. and Compania Algamarca
S.A./Algamarca Exploraciones S.A. (the "Sulliden Contract") that was signed by
Mr. Orbegoso.
    This is a watershed victory for Century Mining, bringing Century one
significant step closer to beginning development of the gold reserves on the
Shahuindo property.
    After a thorough legal review completed by Century and its advisors
regarding the title to the Shahuindo mining project, Century Mining Finance
Corp. purchased 100% of the shares of Compania Minera Algamarca S.A. and
several other companies, collectively known as the "Algamarca Group" on May 6,
2007. These companies own the 26 concessions of the Shahuindo property.
    Margaret Kent, President & CEO of Century, commented, "This victory is a
major milestone for Century. It confirms the strength of our legal position in
Peru. It also ushers Century forward in its pursuit of developing the
Shahuindo Project and of becoming an intermediate-tier gold producer. Century
remains committed to resolving the Shahuindo dispute as rapidly as possible in
order to begin development of the project.

    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 Sigma and Lamaque mines in Québec that
historically have 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 and Huancacancha 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.

    "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.




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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