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Gold/Mining/Energy : Century Mining Corporation

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From: hubris33	7/23/2008 12:27:16 PM
	of 545

FOR SALE - Century Mining PRESS RELEASE July 23, 2008 CENTURY MINING HIRES ADVISORS TO EVALUATE STRATEGIC OPTIONS Blaine, WA: Century Mining Corporation (CMM: TSX-V) announced today that it has initiated a strategic review process in response to recent difficulties the Company has encountered in its efforts to secure financing. This review process was initiated as a result of Century’s evaluation of severe equity market conditions and the current valuation of the Company. The Board of Directors has therefore engaged Blair Franklin Capital Partners as financial advisors, to identify alternatives available to Century that will enhance shareholder value. The strategic review will encompass a thorough analysis and evaluation of the prospects and options available to the Company, including the sale of the Company or its assets, the recapitalization of the Company or other alternatives that may be identified by the Company’s advisors or Board of Directors. Margaret Kent, President & CEO said: “We are asset rich, but lacking in working capital. We fully intend to continue all internal work toward completing the due diligence process related to the Fortis Bank financing for Lamaque. Parallel to this process, the Company will explore strategic alternatives which could enhance shareholder value. The Company believes that there are several alternatives that could ease the strain of our current working capital deficit and allow us to move forward and grow the Company during this difficult time we are experiencing in the resource equity markets.” 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 in addition to its Canadian projects. The Company owns 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. “Margaret M. Kent” Chairman, President & CEO centurymining.com

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