Sulliden Gold Corporation Ltd T.SUE.WT

Peruvian court rules in Algamarca''s favor

[ArtBechstein]

Peruvian court rules in Algamarca's favor Key advance for Century's development of Shahuindo BLAINE, WA, Aug. 15 /CNW/ - Century Mining Corporation (TSX-V:CMM) today received notice that the Superior Court of Lima ruled in Algamarca's favor nullifying the 2006 arbitral award and declaring the arbitral agreement invalid because of the insufficiency of Mr. Miguel de Orbegoso Tudela's power to enter into that agreement. The arbitral agreement forms part of the 2002 transfer agreement between Sulliden Shahuindo S.A.C. and Compania AlgamarcaS.A./Algamarca Exploraciones S.A. (the "Sulliden Contract") that was signed by Mr. Orbegoso. This is a watershed victory for Century Mining, bringing Century one significant step closer to beginning development of the gold reserves on the Shahuindo property. After a thorough legal review completed by Century and its advisors regarding the title to the Shahuindo mining project, Century Mining Finance Corp. purchased 100% of the shares of Compania Minera Algamarca S.A. and several other companies, collectively known as the "Algamarca Group" on May 6, 2007. These companies own the 26 concessions of the Shahuindo property. Margaret Kent, President & CEO of Century, commented, "This victory is a major milestone for Century. It confirms the strength of our legal position in Peru. It also ushers Century forward in its pursuit of developing the Shahuindo Project and of becoming an intermediate-tier gold producer. Century remains committed to resolving the Shahuindo dispute as rapidly as possible in order to begin development of the project. About Century Mining Corporation 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 Sigma and Lamaque mines in Québec that historically have 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 have also recently acquired Rosario de Belen and Huancacancha 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. "Margaret M. Kent" Chairman, President & CEO