Century Mining Announces Exercise of Five Million Warrants
19:14 EST Wednesday, March 07, 2007
globeinvestor.com
BLAINE, WASHINGTON--(CCNMatthews - March 8, 2007) - Century Mining Corporation (TSX VENTURE:CMM) announces today that all five million warrants with an expiry date of March 7, 2007 have been exercised between February 19 and March 7, 2007 at an exercise price of $0.44 per share for proceeds to the Company of C$2.2 million.
The Company currently has 123,047,019 common shares issued and outstanding.
Margaret Kent, President & CEO, said: "We are pleased that these warrants have now been exercised and the overhang of five million shares has been removed from the market."
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 Quebec that historically have produced over 9.4 million ounces of gold. In Peru this year Century acquired control of the San Juan Mine where the Company accounts for 100% of gold 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 & C.E.O.
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 PLEASE CONTACT:
Century Mining Corporation
Brent Jones
Manager of Investor Relations
1-877-284-6535 or (360) 332-4653
Email: bjones@centurymining.com
or
Century Mining Corporation
Graham Eacott
Vice President, Investor Relations
1-877-284-6535 or (360) 332-4653
(360) 332-4652 (FAX)
Email: geacott@centurymining.com
Website: www.centurymining.com |
