Century posts court documents that support Algamarca's -
legal position in the dispute over Shahuindo -
BLAINE, WA, Oct. 22 /CNW/ -
Century Mining Corporation -
centurymining.com
(CMM: TSX-V) Century has posted on its website the 2004
injunction granted by the Civil Court of Cajabamba
restricting Sulliden from entering Shahuindo as well
as the Civil Courtroom of the Superior Court
Cajabamba's recent notices regarding inspection of
the Shahuindo concessions to ensure Sulliden has
not violated the terms of that injunction.
Century has also posted on its website the August 2007
decision of the Superior Court of Lima nullifying
the 2006 arbitration award in Sulliden's favor and
its subsequent denial of Sulliden's request to suspend
the effects of that decision as a result of
Sulliden's appeal.
Contrary to comments in Sulliden's press releases
dated September 21, 2007 and October 17, 2007, the
effects of the Superior Court's decision to nullify
the arbitration award have NOT been suspended and
now the various administrative processes relying on
the 2006 arbitration award, such as the 2006
injunction against Algamarca and the registration
of the concessions in Sulliden's name, have no
legal foundation; this situation is now being corrected
by the various courts and administrative authorities
in Peru, as discussed below.
Century has posted on its website the September 16, 2007
decision of the 55th Civil Division of the Superior Court
of Lima to reverse the injunction Sulliden won in 2006
against Algamarca, which injunction contained the basis
for the registration of the Shahuindo concessions
in Sulliden's name.
With the lifting of that injunction, there is no
juridical basis for the registration of the concessions
in Sulliden's name.
The administrative processes are now underway to revert
the registration of the Shahuindo concessions back
into Algamarca's name.
The Court of Cajamarca is now instructing the Director
General of Environmental Issues of the Minister of Energy
and Mines of Peru to revoke the temporary (9-month) permit
it had granted on April 17, 2007 to Sulliden to perform
certain exploration work on Shahuindo.
This correspondence from the Court of Cajamarca to the
Minister of Mines is also posted on Century's website.
Commented Margaret Kent, Chairman and CEO of Century,
"We have taken a position of total transparency.
We have posted on our website the various court documents,
and in some cases the certified translations of these
documents, which support the claims we made in prior
press releases regarding recent developments in Peru.
I encourage the shareholders of Sulliden to read the
court filings and decisions for themselves and I am
confident that they will arrive at the same
conclusion we have:
the courts in Peru are increasingly more supportive
of Algamarca's legal position in this dispute."
On behalf of the Board of Directors,
"Margaret M. Kent"
Chairman, President and C.E.O.
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 statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are 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 statements and information involve 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 information and accordingly, readers should not place undue reliance on such statements and information. 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 commodity 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 included in this Annual Report , in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and 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.
Source: Canada NewsWire (October 22, 2007 - 12:15 PM EDT)
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