This is just out. Looks ok to me but I am no expert. With all that is going on behind the scenes, I wonder if anyone can be???

VAL D'OR, QUEBEC--(Marketwire - July 25, 2011) - Century Mining Corporation ("Century" or the "Company") (TSXV:CMM.V) announces that it has entered into an amended and restated forward gold purchase agreement (the "Amended Agreement") with Deutsche Bank AG, London Branch ("DBAG"), which Amended Agreement amends the forward gold purchase agreement and amendment agreement, each entered into between the parties in December 2009.

Under the original agreement, Century agreed to make scheduled monthly gold deliveries, including delivery of 667 ounces per month during 2011, for which it had received prepayment in 2009. Under the terms of the Amended Agreement, DBAG has agreed to amend Century's scheduled delivery obligations with respect to the months of June, July, and August 2011 (the "Affected Delivery Periods"), allowing Century to receive the spot market price of gold at the time of the delivery for the required delivery of 667 ounces for each of the Affected Delivery Periods. As a result, Century will become indebted to DBAG in the amount of US$3.25 million (the "Loan Amount").

The Loan Amount is repayable one year after the effective date of the Amended Agreement at a 23% annual rate of interest, subject to conversion by DBAG or prior repayment by Century. DBAG has the right (the "Conversion Right"), to convert a portion or all of the Loan Amount, including any accrued and unpaid interest thereon, into Century common shares at a conversion price equal to: (i) the current Market Price (as defined in the policies of the TSX Venture Exchange) in respect of the principal amount of the Loan Amount, subject to adjustment in certain circumstances, and (ii) the Market Price at the date of settlement in respect of accrued interest on the Loan Amount, discounted to the maximum extent allowable under the TSX Venture Exchange policies. The Conversion Right shall not be exercisable within the first three months from the date of the Amended Agreement. The securities issued or issuable under the Amended Agreement shall be subject to a four-month hold period from the closing date of the Amended Agreement. The Amended Agreement is subject to various conditions including a limited equity offering and approval by the TSX Venture Exchange.

Use of proceeds will be solely for operational and mine development activities at Lamaque including increasing the development rate in the North Wall and Flats; a drilling plan in and around known stopes; information for future planning and reserve modeling; and continuation of dewatering at the current rate of 1,200 gallons per minute.

Lamaque Update

In addition, Century announces that the Lamaque Project has started the long hole stope mining from the higher grade bulk volume targets related to the dykes and shears in the North Wall. Now that the Company has access to this ore it will start the ramp up in mill feed tonnage to 2,000 tonnes per day forecast for the fourth quarter.