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Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce that it has closed the additional non-brokered private placement announced September 17, 2010. The private placement consisted of 3,105,846 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $1,211,280. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one common share at $0.60 for 18 months from closing.
The Company paid cash finder's fees totaling $48,754 in connection with the closing of the private placement. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continued commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital.
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,
Keith Hulley, Interim CEO
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