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🕐25.03.10 - 15:12 Uhr
Century Reports Record Gold Production at San Juan Gold Mine in Peru
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Add to your address book or safe list to ensure delivery of email blasts (click for instructions) Press Release March 25, 2010 Century Reports Record Gold Production at San Juan Gold Mine in Peru Century Mining Corporation ("Century" or the "Company") (TSX-V: CMM) is pleased to release its Fourth Quarter Production Report for the quarter ended December 31, 2009 for its San Juan Gold Mine in Peru. The Company is planning to release its 2009 audited financial and detailed operating results in April 2010. "The Company is pleased to see continued operating success at the San Juan Gold Mine in Peru, and we extend our appreciation to the hard working team at the minesite and to our corporate office staff in Lima. Century Mining continues to consider the interest of employees� quality of life in Peru by continuing to provide electrical power, improving fresh water and sanitary services, replacing roofs and upgrading living quarters," commented Margaret M. Kent, President & CEO Century Mining. Fourth quarter gold production, considering in-process inventory, was 4,744 ounces (versus 3,347 ounces in Q4 2008), bringing the total for 2009 to 17,036 ounces. This is a production record for the Company at San Juan and a 19.5% increase over 2008. Site development activities at the San Juan gold mine are focused on increasing the storage capacity at the tailings embankment by an additional 10 years, defining additional gold resources for future mine planning, and expanding the annual production by 50% by 2012. The Company is currently preparing modernized equipment to send to the San Juan Gold Mine from the Lamaque Gold Mine in the latter half of 2010. Century is also reviewing multiple exploration prospects within the large 220 square kilometer land package controlled by the Company for future exploration programs planned for late 2010 and early 2011. Production Guidance Production guidance for 2010 at the San Juan Gold Mine has been set at 18,000 - 20,000 ounces of gold at cash costs of US$550-US$570/oz, with a subsequent increase to approximately 24,000 ounces in 2011, and to 30,000 ounces in 2012. About Century Mining Corporation Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company�s strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities. In Peru, Century�s wholly-owned subsidiaries own an 82.6% interest in the San Juan Gold Mine where the Company accounts for 100% of gold production. Total gold production at San Juan for 2007 and 2008 was 12,270 and 14,252 ounces of gold, respectively. On behalf of Century Mining Corporation, "Margaret M. Kent" President & CEO For further investor information, please contact: Peter A. Ball, Director of Investor Relations Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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 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. Click Here for a Free Real-time Stock Quote on TSX-V: CMM
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