JV possibilities for our secondary properties

Our success is entirely dependent on Lamaque being successful, thus our focus has to be 100% on Lamaque over the next little while. However, that shouldn't stop us from letting JV partners contribute cash to move our secondary properties forward, if they approach us.

1) Carolin Mine - I provided an update yesterday. Some good exploration work happening there. I like the 43.6 m @ 2.46 g/t and 21.9 m @ 1.73 g/t results from earlier in the week, from the open pit area. Those excellent results are consistent with the 43.2 m @ 1.25 g/t drill hole result from 1989.

Although probably unlikely, it would be very positive for Century shareholders if our JV partner could one day locate a California style mother lode on Carolin. Here is a note from a past Century annual report:

"The Carolin Mine is a California mother lode style of deposit and, similar to those deposits, occurs adjacent to a serpentinite filled fault. In California, gold is often found in rich pods within the serpentinite. No prior exploration at the Carolin Mine has targeted this possible gold source."

2) Northbelt, NWT property - Peggy said on the conference call that Century has received inquiries about joint venture possibilities. Maybe others are also noticing the huge potential of our large Northbelt property:

*already 2 established gold deposits of 175,000 total non-43101 ounces (I know 1 deposit is open both along strike and at depth and I believe the other one is also)

*15km strike length along a volcanic belt that has produced at least 10M ounces

*numerous gold showings

*has the potential to host a porphyry gold system

*the claims have a large base metal showing that contains several "concordent zinc rich zones within the host volcanic strategraphy"

3) Our Alaskan properties - the chances have increased for our Alaskan properties to add value for shareholders now that the precedent setting Kensington mining case (in Juneau, Alaska) went in favour of Coeur d’Alene Mines.

We have either gold showings or historical mining production at all of our Juneau area properties, but our Treadwell property still remains the most fascinating to me. As most people know, it was the largest mine in the world at the turn on the 20th Century. I think it stopped about 100 years ago due to a devastating flood.

I don't know if it was flooded from being too close to water or if it was poorly designed, or a combination of both. It's been 100 years since it was in operation so I wonder if better technology today, safer infrastructure designs, better mining methods, better safety standards, 100 years of historical mining eduction, etc., would would resolve whatever challenges existed back then.

The mine produced 3.2M ounces when it was in production back then. Here is a note of a bit of exploration work that was done in the 90s: "In the early 1990s Echo Bay Mines drilled a long hole across Gastineau Channel to test the continuity of the mineralization to depth. At an elevation of 3,000 feet, which is 1,300 feet below the Treadwell workings, the hole intersected 187 feet of 0.101 opt Au, containing a section of 44 feet of 0.22 opt Au. This extremely wide intersection was typical of the width and grade originally mined from the Treadwell during the mine life."

It was only mined down to 1700 ft previously. For comparison purposes, the Sigma side of Sigma-Lamaque was mined down to 6000 ft, and we know that the Sigma-Lamaque complex still has 6M ounces remaining (potentially 9M+). Given that the drill hole hit such strong mineralization at 3000 ft a Treadwell, 1300 ft below the last workings, it's possible to visualize the potential of millions of ounces more still existing at Treadwell.

It would be good if there was a company out there interested in taking on this type of challenge, as a JV partner. A major gold producing company would be ideal due to having the capital, expertise, established mining name and access to the latest technology. However, a major company would not likely be interested in a project like this, as they normally prefer projects that are more set.