Jun 14, 2010 18:02 ET
BLAINE, WASHINGTON--(Marketwire - June 14, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that at its annual meeting (the "Meeting") held in Vancouver, BC on June 11, 2010, over 48% of the issued and outstanding shares were represented. Margaret M. Kent, Fran Scola, William Lamarque and William J.V. Sheridan were re-elected as directors. Messrs Ricardo M. Campoy and Keith Hulley were elected as directors of the Company at the Meeting.
Chairman Margaret Kent commented, "On behalf of the Board and shareholders, I would like to welcome Mr. Campoy and Mr. Hulley as directors of the Company. Mr. Campoy and Mr. Hulley have both recently acted as board advisors since January 2010, and I look forward to working closely with our strengthened and experienced board as we continue to build a mid-tier gold producer."
Mr. Campoy has 34 years of international experience as a mining engineer, merchant and investment banker and as a financial advisor. From 2004 to 2006 he was Managing Director and Head of the Mining and Metals Group for WestLB in New York. Before that he held several senior banking positions with McFarland Dewey & Co. LLC; ING Capital; Swiss Bank; and as President of specialized resources merchant bank, Elders Resources Finance Inc.; European Banking Company; and Continental Illinois National Bank. Mr. Campoy serves on a number of mining company boards. Mr. Campoy earned a Bachelor of Science degree in Mining Engineering at the Colorado School of Mines and a Master's of International Management (Finance) at the American Graduate School of International Management.
Mr. Hulley was until recently the interim CEO of Gabriel Resources Ltd. and has been a member of the Gabriel Board since 2006. Previously, Mr. Hulley served seven years successively as President, Chief Executive Officer and Executive Chairman of Apex Silver Mines before retiring in 2004. Mr. Hulley has more than 40 years experience in the mining business which includes, prior to joining Apex Silver, Board and senior executive experience at Western Mining Holdings Ltd. (Director of Operations) and USMX Inc. (President/CEO).
The Company is pleased to report that all of the resolutions that shareholders were asked to consider at the Meeting, including the continuation of the Company's stock option plan and the extension of the shareholder rights plan, were approved by a majority of the votes cast at the Meeting.
Century currently has 345,503,444 common shares issued and outstanding. Under the terms of the Company's "rolling" Incentive Stock Option Plan a maximum of 34,550,344 shares are available to be issued pursuant to the exercise of options at this time. Subject to the approval of the TSX Venture Exchange, the Company approved the issue of 1,750,000 stock options to officers and directors of Century. The stock options are exercisable into common shares of Century at an exercise price of C$0.53 per share for a period of five years. Century's common shares closed at C$0.53 on the TSX Venture Exchange on June 11, 2010. Including this grant of 1,750,000 options, a total of 9,930,000 shares have been reserved for issuance pursuant to outstanding option grants. A further 24,620,344 shares are available for issuance pursuant to future option grants at this time.
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.
On behalf of Century Mining Corporation,
"Margaret M. Kent"
President & CEO
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