Century Mining Shareholders Approve Business Combination With White Tiger Gold (ccnm)

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2011) - Century Mining Corporation ("Century Mining" or the "Company") (TSX VENTURE:CMM) is pleased to announce that it has received shareholder approval for the Company's proposed business combination (the "Business Combination") with White Tiger Gold Ltd. ("White Tiger").

Under the Business Combination, Century Mining and White Tiger, intend to combine under a plan of arrangement resulting in 7918534 Canada Inc., a wholly-owned subsidiary of White Tiger, acquiring all of the issued and outstanding common shares of Century Mining (the "Century Shares").

The Business Combination was approved by a special resolution of shareholders of Century Mining at the special meeting held earlier today (the "Meeting"). The special resolution required affirmative votes from at least (a) 66 2/3% of votes cast in person or by proxy by holders of Century Shares, and (b) a majority of the votes cast in person or by proxy by holders of Century Shares, other than Century Shares beneficially owned, or controlled or directed, directly or indirectly, by Messrs. Maxim Finskiy and/or Francis Scola (the "Excluded Shareholders"). The Business Combination was approved by (a) approximately 83.4% of the votes cast at the Meeting, and (b) approximately 74.4% of the votes cast at the Meeting, excluding those votes cast by the Excluded Shareholders.

Also at the Meeting, to facilitate completion of the Business Combination, a resolution approving a reduction in the stated capital of the Century Shares was approved by approximately 83.9% of the votes cast at the Meeting.

The Business Combination remains subject to final approval of the Ontario Superior Court of Justice, approval under the Investment Canada Act and final approval of the TSX. The Court date at which final court approval will be sought is scheduled for September 23, 2011 and Investment Canada Act approval is expected by mid-October.

"The Business Combination will give Century the opportunity to become a part of a larger, more diversified gold mining company with multiple properties in various stages of production and development in Canada, Russia, and Peru," said Daniel Major, President and CEO of Century Mining Corporation. "The combined company is expected to benefit from compelling growth prospects allowing us to realize the potential of our flagship Lamaque property and to become a mid-tier gold producer."

About Century Mining Corporation

Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.

On behalf of Century Mining Corporation,

Daniel J. Major, President & CEO