CMM Reports Third Quarter 2008 Financial Results

Century Mining Reports Third Quarter 2008 Financial Results

BLAINE, WA, Dec. 2 /CNW/ - Century Mining Corporation (CMM: TSX-V) is pleased to announce its financial and operating results for the third quarter ended September 30, 2008.

In the third quarter ended September 30, 2008 the company reported an operating profit from mining operations, before depreciation, amortization and accretion, of $1,735,994 (2007 - $110,749) from revenues of $4,300,640 (2007 - $15,774,184). Expenses incurred in the mining operations were $2,564,646 (2007 - $15,663,435).

For the quarter ended September 30, 2008 the Company reported net income of $607,382 or $Nil per share, compared to a net loss of $27,214,549, or $0.20 per share in the prior period.

As at September 30, 2008 the Company had a working capital deficiency of $14,049,624 compared to a working capital deficiency of $12,910,084 at December 31, 2007, an increase of 9%. The September 30 working capital deficiency was down 28% from $19,401,640 at June 30, 2008.

Century's financial statements and Management's Discussion and Analysis have been filed, and are available for viewing on the SEDAR website at www.sedar.com.