CMM's NR about the recent insider share purchase

Century Mining Reports Significant Private Purchase Of Century Shares By Insiders

BLAINE, WA, Jan. 5 /CNW/ - Century Mining Corporation (CMM: TSX-V) announces that Margaret M. Kent and Ross F. Burns, directors and officers of the Company, have directly and indirectly acquired 11,500,000 shares and 6,000,000 warrants of the Company from an institutional shareholder of Century in a private transaction. The warrants have an exercise price of $0.75 per share and expire on October 24, 2009.

Pursuant to the above-mentioned transaction, Margaret Kent and Ross Burns jointly exercise control or direction over, and directly and indirectly own 14,545,914 shares of Century. This represents 8.6% of the Company's 169,072,599 common shares currently issued and outstanding.

In September 2008, the Company issued a convertible debenture to Margaret Kent in exchange for a C$200,000 loan to the Company. The maximum number of shares that have been reserved for issuance on full conversion of the debenture, which matures in March of 2010, is 8,900,822 common shares.

Assuming the exercise of all warrants and stock options, and full conversion of all convertible debentures, there would be 204,211,205 shares on a fully diluted basis. Margaret Kent and Ross Burns would directly and indirectly hold 30,861,736 shares representing 15.1% of the fully diluted shares.