Century Mining withdraws offer for Sulliden

Century Mining Corporation has withdrawn its takeover bid for Sulliden Exploration Inc, which was announced on November 28, 2007. Century has notified the depositary that the offer has been withdrawn and instructed it to return all shares that have been deposited.

Since the commencement of this takeover bid, Sulliden’s defense has been to portray Century in a very negative light. Century disagrees with these assertions and is disappointed that the board of Sulliden has failed to see the benefit of combining with Century, which could have ended the litigation and created a new mid-tier gold producer.

Century will maintain its current position in the litigation over the Shahuindo property in Peru. The focus of Century at this time will be to continue building its portfolio of operating and exploration assets, which include the Lamaque and San Juan mines.

Margaret M. Kent, President and C.E.O. of Century Mining said that with gold spot prices above US$900 per ounce, it is unfortunate that Shahuindo is the subject of litigation. Century’s focus is on building and operating mines resulting in wealth creation for our shareholders in this gold cycle. It is regrettable that our objectives do not appear to be aligned with those of Sulliden’s management.

Century Mining Corporation is an emerging mid-tier gold producer that is aggressively acquiring producing mines and exploration properties in Peru. The Company owns and produces gold at the Lamaque mine in Québec that historically has produced over 9.4 million ounces of gold. In Peru, Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production.

Century subsidiaries also operate the Rosario de Belen mine where it accounts for 100% of both gold and silver production. Century’s growth strategy is to acquire gold producing assets in South America that will substantially reduce the Company’s consolidated total cash cost of production and where there is exceptional exploration potential to expand production at these mines.