NR: New auditors, DD completed and documented

Century Appoints New Corporate Auditors

BLAINE, WA, Nov. 28 /CNW/ - Century Mining Corporation (CMM: TSX-V) announced today that it has appointed BDO Dunwoody LLP as the new auditors for the Company, subsequent to the resignation of Century's previous auditors, Deloitte and Touche LLP.

The Company also announced that Mr. Mark Lettes has resigned from the Board of Directors of Century, effective immediately.

Regarding financing initiatives, Century announced today that a bridge financing deal with Trafalgar Capital did not close. Century announced receipt of a term sheet from Trafalgar on September 17, 2008. Although no specific reasons were given by Trafalgar, management believes that the current global economic crisis and severe conditions in equity and credit markets caused Trafalgar to reevaluate the proposed transaction.

The Company is in the process of completing a significant project financing for its Lamaque Mine. The due diligence process has just been completed and documented, and the proposed debt facility will next be subject to review by the banking institution's internal Credit Committee. The proposed transaction is a project loan facility of up to $70 million (for further details see Century press release dated May 12, 2008).

Margaret Kent, President and CEO of Century, said, "We are pleased with the findings of the extensive due diligence that was carried out in connection with our senior secured financing, which confirms the excellent potential of the Lamaque Mine. While we seek other alternatives for short-term financing, the Company is meeting its immediate capital requirements through internal cash flow, the sale of redundant open pit mining equipment, salary deferrals of executive management and other streamlining efforts. Given the extremely difficult credit environment, we appreciate the patience of all Century stakeholders, and we are working diligently in the midst of very poor credit markets to complete the project financing."