Central Sun Mining Inc. ("Central Sun" or the "Company") (TSX:
CSM)(TSX: CSM.WT)(AMEX: SMC) is pleased to provide an update on its
on-going exploration program at the Limon, Orosi and Mestiza
projects in Nicaragua.
Limon Mine Area
Drilling has continued on the new Santa Pancha southern
extension to follow up on the promising results from the initial
discovery drilling previously reported and as shown on vertical
longitudinal section below in Figure 1. Central Sun has completed
22 diamond drill holes totaling 6,505 metres. The Santa Pancha
orebody, which has the highest grade within the Limon Mine area
deposits, is currently being mined on the 100 metre level at a
reserve grade of approximately 5.6 g Au/t.
Highlights from new results from the resource definition
drilling program in the south extension area are:
- 9.83 g Au/t over true width of 6.4 metres in Hole LM-08-19
- 198.69 g Au/t (7.90 g/t highs cut to 25 g/t) over true width
of 5.3 metres in Hole LM-08-22
- 6.05 g Au/t over true width of 18.0 metres in Hole
LM-08-21
The intersection in Hole LM-08-22 was very high grade due to an
exceptional sample which returned 1,424 grams gold per tonne over a
0.75 metre core length. While the cut value of 7.90 grams gold per
tonne is probably more likely to be representative of the overall
grade in the general area of the hole, it does indicate the
excellent potential for very high grade areas to occur in the Santa
Pancha zone.
In addition to the definition drilling, three (3) holes were
completed to test the area south of the 250 foot level (about 75
metres below surface) between the #2 and #5 shafts as shown in
Figure 1. Hole LM-08-21 intersected 6.05 grams gold per tonne over
a true width of 18.0 metres about 15 metres south of the limit of
the old stope indicating that additional reserves can be defined
from this level. Complete results are given in Table 1A below.
Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration
commented, "The closer spaced drilling is providing much better
definition of the distribution of gold mineralization within this
extensive structure and we are continuing to have very good
results. Our experience from underground mining is that the mine
grades tend to be higher than those indicated in the drill holes.
The drilling on the Santa Pancha south extension zone will be
completed shortly and once all results are received, we will begin
estimation of a new mineral resource."
The Santa Pancha structure, located about 4 kilometres east of
the Limon processing plant, strikes N20E and extends for
approximately 2.5 kilometres along strike. The target zone being
tested as shown on the longitudinal section in Figure 1 extends for
approximately 650 metres along strike from the No. 2 shaft area
southwards to the No. 8 shaft. The drill holes completed to date
have confirmed that the favourable structure extends to a vertical
depth of at least 350 metres.
Orosi Mine Area
Exploration diamond drilling totaling 11,713 metres in 66 holes
has been completed to date at Orosi. This program has focusing on
testing targets within approximately five (5) kilometers of the
processing plant. Targets being tested as shown below in Figure 2
include San Juan, Los Angeles, Quernos do Oro, Victoria-Santa
Maria, and the Mojon SW and NE Extensions. In addition, eight (8)
reconnaissance diamond drill holes totaling 1,678 metres have been
completed to test the induced polarization geophysical anomalies in
the Gobierno area that cover a potential strike extension of 3
kilometres of the Mojon-Crimea and associated structures northeast
of the mine.
Central Sun is currently converting the Orosi open pit mine from
a heap leach operation to a conventional milling operation.
Production is expected to start in the first quarter of 2009 at a
rate of approximately 85,000 ounces of gold per year. Proven and
probable mineral reserves primarily in the Mojon-Crimea zone are
estimated by Scott Wilson Roscoe Postle Associates Inc. at 11.0
million tonnes at 1.44 grams of gold per tonne containing 510,000
ounces of gold (see Press Release dated May 8, 2008).
Drilling of 2,036 metres in 12 holes has been completed to test
the San Juan vein structure, a potential new open pit mining
target, located about 5 kilometres south of the mine area as shown
in Figure 2. These holes tested the structure over approximately an
800 metre strike length to a vertical depth of 180 metres. All but
one hole intersected gold mineralized quartz veins/vein breccias.
The final two holes in this program (SJ-08-12 and -13) returned
3.27 g Au/t over a true width of 11.5m and 3.60 g Au/t over 3.9
metres true width, respectively. A definition drill program of 16
holes totaling 2,200 metres is currently in progress to fill-in
drill coverage to an approximately 50 metre by 50 metre spacing to
define a mineral resource. Table 2A gives complete results.
At the Los Angeles target, which is a possible satellite target
adjacent San Juan as shown on Figure 2, three (3) holes totaling
565 metres have been completed to test targets at shallow depths.
Hole AN-08-02 intersected 13.04 g Au/t (12.31with highs cut to 25g)
over a true width of 5.0 metres at a vertical depth of only 30
metres. Hole AN-08-01 returned 2.61 g Au/t over a true width of 4.5
metres at a vertical depth of about 20 metres. Further drilling is
planned to test this structure which has excellent potential to
host open pittable mineral resources.
The Cuernos de Oro structure located 2 kilometres north of the
mine has been tested by 10 holes totaling 1,114 metres spaced at
approximately 100 metre intervals over a strike length of one (1)
kilometre. Results from the first six holes intersected a
mineralized structure from 1.4 metres to 2.50 metres true width;
the best result was 1.36 g Au/t over a true width of 1.4 metres in
Hole CO-08-05. Results of the last four holes on this target are
pending.
In the Victoria-Santa Maria area, twelve (12) holes totaling
2,618 metres have been completed at approximately 100 metre spacing
to test the structure between the two mining areas that previously
had very little drilling. All holes have intersected mineralized
structures; results have been received for four (4) additional
holes. The best result was 4.94 g Au/t over a true width of 1.0
metres at a depth of approximately 40 metres below surface in Hole
VICSM-08-009. Table 2A gives complete results.
A detailed mapping program including re-interpretation of
previous geological data in conjunction with new diamond drilling
and petrological work has outlined a number of new targets along
the Mojon-Crimea structure which hosts the majority of the mineral
resources outlined to date at Orosi. A particular focus has been
the potential extension of satellite structures to the southwest of
the current pit design limits on Mojon. Seven (7) holes totaling
1,548 metres have completed to test potential new structures. The
best result was from Hole MJ-08-003 which returned 4.49 g Au/t over
a true width of 0.5 metres. Table 2A gives complete results.
Results from the last four holes of this program are pending.
As previously reported, Induced Polarization/Resistivity surveys
totaling 38.6 line kilometres in 21 lines were completed to explore
the potential strike extension over approximately 3 kilometres of
the Mojon-Crimea structures as well as satellite structures to the
immediate northeast of the mine area. This survey has outlined a
number of significant anomalies including two major chargeability
anomalies 1.2 kilometres and 2.5 kilometres northeast of the mine
area respectively, as shown below in Figure 2. Eight (8)
reconnaissance diamond drill holes totaling 1,678 metres have been
completed to test these anomalies. This area had never previously
been drill tested and the area is covered by saprolite up to 5
metres thick so that there is essentially no outcrop.
The holes confirmed the presence of widespread disseminated
pyrite within a variety of hydrothermally clay-altered breccias. In
places the breccias contain silicified fragments which probably
came from an original silicified cap. While no significant gold
values were returned from the first six holes for which assays have
been received, this type of alteration is typically above or
peripheral to the core silicified and gold mineralized centre of
the epithermal systems.
The widespread hydrothermal alteration indicates that there is
excellent potential for locating gold mineralized zones likely
below or peripheral to where these holes were drilled. Based on
this new geological information, the interpretation of the induced
polarization survey is being refined to outline additional drill
targets.
Dr. Bill Pearson, P.Geo. commented, "The program at Orosi has
accelerated significantly over the past two months with our
improved understanding of the geology and distribution of gold
mineralization. Drilling on several of the structures, particularly
San Juan and Los Angeles, has returned grades significantly higher
than the average Orosi open pit reserve grade indicating that there
is excellent potential to outline additional resources with higher
grades in these satellite structures. It is evident that the
Mojon-Crimea structure extends much further to the northeast and
the drilling results on the IP anomalies have confirmed widespread
hydrothermal alteration, further work is required to locate the
silicified core of the systems where gold mineralization is most
likely to occur."
Mestiza-La India Area
At Mestiza-La India, located 70 kilometres east of Limon, as
previously reported, Magnetic, Resistivity and Induced Polarization
(IP) surveys have been conducted on approximately 45 line
kilometres of new exploration grid oriented perpendicular to the
Tatiana vein crossing the Mestiza property, along with geological
mapping, sampling, prospecting and data compilation. This grid has
been extended to the southwest and southeast to better cover the
anomalous areas; IP surveys are currently in progress on an
additional 32 line kilometers. As previously reported drilling is
planned to test the IP anomalies.
Diamond drilling will commence soon to further test the Tatiana
vein on the Mestiza property that contains an inferred mineral
resource of 558,000 tonnes at 8.80 g Au/t containing 158,600 ounces
of gold (see Technical Report dated March 31, 2008 posted on
SEDAR). This vein has now been traced for a strike length of 5
kilometres. Elsewhere on the property geological mapping and
sampling is continuing with a particular focus on outlining areas
with potential conjugate veins sets where a greater density of
veining could yield potential open pittable targets.
SAMPLING, ASSAYING AND QUALITY CONTROL
The core (NQ 47.6 mm) was logged, photographed and then sawn in
half with one-half sent to the laboratory for analysis and the
other half retained and stored on site. All core samples were
prepared and assayed at the Company's Limon Mine laboratories. The
Limon mine laboratory has a separate preparation circuit for
exploration samples so that these are prepared and analyzed
separately from run-of-mine samples.
The Limon Mine laboratory uses normal industry procedures. The
entire half-core samples are crushed to pass 10-mesh-size sieve, a
1/4 split is then pulverized to have greater than 90% passing the
200-mesh-sized sieve to produce a 100 gram homogenized sub-sample.
A one-assay ton aliquot (a 29.2 gram sub-sample) is used for fire
assaying with an atomic absorption (AA) or gravimetric finish to
determine gold concentration. Internal quality control includes the
use of blanks, duplicates and standards in every batch of samples.
The Company also conducts internal check assaying. Regular external
check assays are performed at a certified Canadian commercial
laboratory and certified external reference standards are inserted
into each batch.
Table 1A: Summary of Drilling Results, Santa Pancha, Limon Mine area
--------------------------------------------------------------------------
Hole(i) From To Core True Gold Zone
(metres) (metres) Length Width (g/t)
(metres) (metres) ---------------------------
Uncut Cut(ii)
--------------------------------------------------------------------------
LM-08-015 306.42 308.00 1.58 1.4 3.20 Santa Pancha
--------------------------------------------------------------------------
LM-08-016 87.25 93.40 6.15 5.8 0.27 Santa Pancha
--------------------------------------------------------------------------
LM-08-017 86.45 89.25 2.80 2.7 1.03 Santa Pancha
--------------------------------------------------------------------------
LM-08-018 358.33 363.20 4.87 4.6 1.43 Santa Pancha
--------------------------------------------------------------------------
LM-08-019 315.93 322.97 7.52 6.4 9.83 Santa Pancha
--------------------------------------------------------------------------
LM-08-020 301.18 303.76 2.58 2.4 3.14 Santa Pancha
--------------------------------------------------------------------------
LM-08-021 42.65 62.03 19.38 18.0 6.05 Santa Pancha
--------------------------------------------------------------------------
LM-08-022 259.92 265.42 5.50 5.3 198.69 7.90 Santa Pancha
--------------------------------------------------------------------------
(i) All holes are NQ core size
(ii) High sample assays capped at 25 Au g/t following the practice at the
Santa Pancha mine; the cut values were established geostatistically.
Table 1B: Collar Coordinates and Orientation of Drill Holes, Santa
Pancha, Limon Mine
----------------------------------------------------------------------
Hole Easting Northing Elevation Length Az(i) Dip(i)
(metres)
----------------------------------------------------------------------
LM-08-015 19457.5 13404.1 61.00 255.05 284 -64
----------------------------------------------------------------------
LM-08-016 19261.5 13527.5 63.00 117.45 290 -45
----------------------------------------------------------------------
LM-08-017 19250.0 13507.0 64.50 108.15 290 -45
----------------------------------------------------------------------
LM-08-018 10506.5 13405.5 60.00 376.95 291 -54
----------------------------------------------------------------------
LM-08-019 19507.5 13554.0 63.50 366.40 291 -55
----------------------------------------------------------------------
LM-08-020 19507.5 13554.0 63.50 354.00 291 -48
----------------------------------------------------------------------
LM-08-021 19234.5 13590.0 61.00 77.30 284 -50
----------------------------------------------------------------------
LM-08-022 19412.5 13423.5 64.00 301.85 291 -46
----------------------------------------------------------------------
(i) All measurements are in metres except Azimuth (Az) and Dip which
are measured in degrees.
Table 2A: Summary of Drilling Results San Juan, Los Angeles, Cuernos do
Oro, Victoria-Santa Maria, Mojon and Gobierno Target Areas, Orosi
--------------------------------------------------------------------------
Hole(i) From To Core True Gold Zone
(metres) (metres) Length Width (g/t)
(metres) (metres) ---------------------------
Uncut Cut(ii)
--------------------------------------------------------------------------
San Juan
--------------------------------------------------------------------------
SJ-08-012 91.07 106.00 14.93 11.5 3.27 San Juan
--------------------------------------------------------------------------
SJ-08-013 10.30 14.79 4.49 3.9 3.60 San Juan
--------------------------------------------------------------------------
Los Angeles
--------------------------------------------------------------------------
AN-08-001 28.99 34.12 5.13 4.5 2.61 Los Angeles
--------------------------------------------------------------------------
and 50.29 53.79 3.50 3.1 1.68
--------------------------------------------------------------------------
AN-08-002 24.90 28.00 3.10 2.7 1.34 Los Angeles
--------------------------------------------------------------------------
and 57.92 63.70 5.78 5.0 13.04 12.31
--------------------------------------------------------------------------
AN-08-003 48.10 48.80 0.70 0.6 2.06 Los Angeles
--------------------------------------------------------------------------
Cuernos do Oro
--------------------------------------------------------------------------
CO-08-001 53.80 56.72 2.92 2.1 1.12 Cuernos Oro
--------------------------------------------------------------------------
CO-08-002 39.24 41.14 1.9 1.4 0.34 Cuernos Oro
--------------------------------------------------------------------------
CO-08-003 66.70 68.70 2.00 1.4 0.60 Cuernos Oro
--------------------------------------------------------------------------
CO-08-004 52.67 56.19 3.52 2.5 0.80 Cuernos Oro
--------------------------------------------------------------------------
CO-08-005 39.40 41.40 2.00 1.4 1.36 Cuernos Oro
--------------------------------------------------------------------------
CO-08-006 45.55 47.72 2.17 1.5 1.11 Cuernos Oro
--------------------------------------------------------------------------
CO-08-007 Assays pending Cuernos Oro
--------------------------------------------------------------------------
CO-08-008 Assays pending Cuernos Oro
--------------------------------------------------------------------------
CO-08-009 Assays pending Cuernos Oro
--------------------------------------------------------------------------
CO-08-010 Assays pending Cuernos Oro
--------------------------------------------------------------------------
Victoria-Santa Maria
--------------------------------------------------------------------------
VICSM-08-
006 65.00 69.07 4.07 3.1 0.90 Santa Maria
--------------------------------------------------------------------------
VICSM-08-
007 68.58 72.76 4.18 2.4 0.83 Santa Maria
--------------------------------------------------------------------------
VICSM-08-
008 141.80 149.80 8.00 4.6 0.21 Santa Maria
--------------------------------------------------------------------------
VICSM-08-
009 64.00 65.45 1.45 1.0 4.94 Santa Maria
--------------------------------------------------------------------------
and 79.62 82.44 2.82 2.0 1.04 Santa Maria
--------------------------------------------------------------------------
VICSM-08-
010 Assays pending Santa Maria
--------------------------------------------------------------------------
VICSM-08-
011 Assays pending Santa Maria
--------------------------------------------------------------------------
VICSM-08-
012 Assays pending Santa Maria
--------------------------------------------------------------------------
Mojon SW and NE Extensions
--------------------------------------------------------------------------
MJ-08-003 44.64 45.39 0.75 0.5 4.49 Mojon SW
--------------------------------------------------------------------------
MJ-08-004 3.04 6.09 3.05 2.0 0.72 Mojon SW
--------------------------------------------------------------------------
MJ-08-005 nsv Mojon SW
--------------------------------------------------------------------------
MJ-08-006 136.00 153.40 17.40 11.1 0.16 Mojon SW
--------------------------------------------------------------------------
MJ-08-007 146.80 155.10 8.30 5.3 0.13 Mojon SW
--------------------------------------------------------------------------
MJ-08-008 nsv Mojon SW
--------------------------------------------------------------------------
MJ-08-009 nsv Mojon SW
--------------------------------------------------------------------------
SEE-08-
001 Assays pending Santa Elena Ext
--------------------------------------------------------------------------
SEE-08-
002 Assays pending Santa Elena Ext
--------------------------------------------------------------------------
SEE-08-
003 Assays pending Santa Elena Ext
--------------------------------------------------------------------------
DES-08-
001 Assays pending Desconocida
--------------------------------------------------------------------------
DES-08-
002 Assays pending Desconocida
--------------------------------------------------------------------------
DES-08-
003 Assays pending Desconocida
--------------------------------------------------------------------------
DES-08-
004 Assays pending Desconocida
--------------------------------------------------------------------------
IP Anomalies (Gobierno)
--------------------------------------------------------------------------
GO-08-001 100.18 104.00 3.82 3.3 0.33 Gobierno
--------------------------------------------------------------------------
GO-08-002 nsv Gobierno
--------------------------------------------------------------------------
GO-08-003 nsv Gobierno
--------------------------------------------------------------------------
GO-08-004 nsv Gobierno
--------------------------------------------------------------------------
GO-08-005 nsv Gobierno
--------------------------------------------------------------------------
GO-08-006 nsv Gobierno
--------------------------------------------------------------------------
GO-08-
007 Assays pending Gobierno
--------------------------------------------------------------------------
GO-08-
008 Assays pending Gobierno
--------------------------------------------------------------------------
(i) All holes are NTW core size
(ii) High sample assays capped at 25 Au g/t following the practice at the
Orosi mine; the cut values were established geostatistically.
(iii) nsv equals no significant values
Table 2B: Collar Coordinates and Orientation of Drill Holes,
San Juan, Los Angeles, Cuernos do Oro, Victoria-Santa Maria,
Mojon and Gobierno Target Areas, Orosi
------------------------------------------------------------------------
Hole Easting Northing Elevation Length Az(i) Dip(i)
(metres)
------------------------------------------------------------------------
San Juan
------------------------------------------------------------------------
SJ-08-012 698936.90 1352185.00 500.33 132.58 170 -45
------------------------------------------------------------------------
SJ-08-013 698838.00 1352112.00 481.29 131.06 170 -45
------------------------------------------------------------------------
Los Angeles
------------------------------------------------------------------------
AN-08-001 699709.00 1353198.00 505.83 152.09 160 -50
------------------------------------------------------------------------
AN-08-002 699824.00 1353250.00 504.35 149.35 160 -50
------------------------------------------------------------------------
AN-08-003 699538.00 1353179.00 498.95 263.04 160 -50
------------------------------------------------------------------------
Cuernos do Oro
------------------------------------------------------------------------
CO-08-001 696963.20 1355516.00 651.70 102.10 180 -58
------------------------------------------------------------------------
CO-08-002 697067.30 1355545.00 648.46 115.82 180 -55
------------------------------------------------------------------------
CO-08-003 697162.50 1355562.00 668.59 47.24 180 -54
------------------------------------------------------------------------
CO-08-004 697263.34 1355567.49 674.42 80.77 180 -47
------------------------------------------------------------------------
CO-08-005 697463.68 1355545.58 712.32 100.58 180 -53
------------------------------------------------------------------------
CO-08-006 697664.37 1355579.73 679.20 70.10 180 -48
------------------------------------------------------------------------
CO-08-007 697563.77 1355578.80 691.30 128.12 180 -65
------------------------------------------------------------------------
CO-08-008 697262.11 1355608.38 679.28 147.78 180 -67
------------------------------------------------------------------------
CO-08-009 696963.73 1355548.48 665.46 103.83 180 -74
------------------------------------------------------------------------
CO-08-010 696963.73 1355548.48 665.46 134.11 180 -70
------------------------------------------------------------------------
Victoria-Santa Maria
------------------------------------------------------------------------
VICSM-08-
001 697860.97 1353618.30 514.04 316.99 330 -56
------------------------------------------------------------------------
VICSM-08-
002 697938.95 1353687.50 538.55 225.55 330 -45
------------------------------------------------------------------------
VICSM-08-
003 697959.21 1353651.90 528.20 278.89 330 -50
------------------------------------------------------------------------
VICSM-08-
004 697768.65 1353580.80 510.40 220.98 330 -50
------------------------------------------------------------------------
VICSM-08-
005 697800.10 1353527.70 529.06 201.16 330 -55
------------------------------------------------------------------------
VICSM-08-
006 697706.56 1353491.40 526.15 164.59 330 -47
------------------------------------------------------------------------
VICSM-08-
007 697706.56 1353491.40 526.15 160.02 330 -70
------------------------------------------------------------------------
VICSM-08-
008 697517.05 1353566.90 489.66 280.41 150 -35
------------------------------------------------------------------------
VICSM-08-
009 697473.64 1353491.60 494.37 245.36 150 -40
------------------------------------------------------------------------
VICSM-08-
010 697511.15 1353426.60 485.42 152.40 150 -40
------------------------------------------------------------------------
VICSM-08-
011 697482.99 1353263.60 504.21 246.88 325 -45
------------------------------------------------------------------------
VICSM-08-
012 697440.86 1353348.90 503.34 123.44 360 -50
------------------------------------------------------------------------
Mojon SW and NE Extensions
------------------------------------------------------------------------
MJ-08-003 695890.49 1353364.15 580.29 131.06 360 -50
------------------------------------------------------------------------
MJ-08-004 695794.02 1353334.05 595.90 249.93 360 -45
------------------------------------------------------------------------
MJ-08-005 695792.62 1353495.80 614.35 193.54 360 -45
------------------------------------------------------------------------
MJ-08-006 696228.09 1353617.85 606.17 274.32 190 -60
------------------------------------------------------------------------
MJ-08-007 696126.93 1353619.40 613.69 196.59 190 -50
------------------------------------------------------------------------
MJ-08-008 695791.05 1353394.43 610.43 250.00 180 -50
------------------------------------------------------------------------
MJ-08-009 695872.05 1353241.43 588.53 71.62 330 -45
------------------------------------------------------------------------
MJ-08-003 696328.84 1353412.00 579.34 131.06 360 -50
------------------------------------------------------------------------
MJ-08-004 696390.95 1353397.78 568.04 249.93 360 -45
------------------------------------------------------------------------
SEE-08-001 698264.15 1354394.24 667.97 150.87 336 -50
------------------------------------------------------------------------
SEE-08-002 698303.99 1354566.80 699.17 169.16 156 -50
------------------------------------------------------------------------
SEE-08-003 698198.18 1354293.09 634.32 179.83 336 -45
------------------------------------------------------------------------
DES-08-001 698056.33 1354247.61 592.85 192.02 150 -45
------------------------------------------------------------------------
DES-08-002 698200.81 1354319.93 637.23 220.98 150 -62
------------------------------------------------------------------------
DES-08-003 698167.20 1354278.16 633.31 182.88 150 -65
------------------------------------------------------------------------
DES-08-004 698111.23 1354277.50 586.56 199.64 150 -50
------------------------------------------------------------------------
IP Anomalies (Gobierno)
------------------------------------------------------------------------
GB-08-001 699730.90 1354542.00 703.45 132.58 335 -45
------------------------------------------------------------------------
GB-08-002 699558.10 1354438.00 651.65 379.48 335 -55
------------------------------------------------------------------------
GB-08-003 699742.10 1354562.00 693.23 243.84 335 -58
------------------------------------------------------------------------
GB-08-004 699628.50 1354278.00 609.41 234.80 335 -55
------------------------------------------------------------------------
GB-08-005 699892.90 1354168.00 632.40 147.82 335 -58
------------------------------------------------------------------------
GB-08-006 699175.10 1353812.00 587.43 112.77 335 -58
------------------------------------------------------------------------
GB-08-007 698733.00 1354794.00 597.45 201.16 155 -50
------------------------------------------------------------------------
GB-08.008 699183.70 1354815.00 602.83 242.31 335 -55
------------------------------------------------------------------------
(i) All measurements are in metres except Azimuth (Az) and Dip which
are measured in degrees.
QUALIFIED PERSON
Dr. Bill Pearson, P. Geo., Executive Vice President, Exploration
for Central Sun Mining, is the Qualified Person responsible for the
management of the exploration program and disclosure of the drill
results as defined by National Instrument 43-101. The laboratory
process reported herein and the internal quality control
information are reviewed regularly by Dr. Pearson. Dr. Pearson has
read and approved this news release.
About Central Sun Mining Inc.
The Company is a growing gold producer with mining and
exploration activities focused in Nicaragua. The Company operates
the Limon Mine in Nicaragua and is converting the Orosi Mine in
Nicaragua to conventional milling to increase the annual gold
output. It also holds an option to acquire a 100% interest in the
Mestiza gold property which is located 70 kilometres by road east
of the Limon Mine. The Company is focused on efficient and
productive mining practices to establish high quality and cost
effective operations. Central Sun Mining Inc. is committed to
growth by optimizing current operations, expanding mineral reserves
and resources at existing mines, exploring its extensive land
holdings and seeking strategic mergers or acquisitions in the
Americas.
Cautionary Note Regarding Forward-Looking Statements: This press
release contains "forward-looking statements", within the meaning
of the United States Private Securities Litigation Reform Act of
1995 and applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to,
statements with respect to the completion of the Company's new
strategic plan, the future financial or operating performance of
the Company, its subsidiaries and its projects, the future price of
gold, estimated recoveries under the milling plan, the estimation
of mineral reserves and resources, the realization of mineral
reserve estimates, the timing and amount of estimated future
production, costs of production, capital for the mill project,
operating and exploration expenditures, costs and timing of the
development of new deposits, outcome, costs and timing of future
exploration, requirements for additional capital, government
regulation of mining operations, environmental risks, reclamation
expenses, title disputes or claims, limitations of insurance
coverage and the timing and possible outcome of pending litigation
and regulatory matters.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: general
business, economic, competitive, political and social
uncertainties; the actual results of current exploration
activities; actual results of reclamation activities; conclusions
of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of gold; possible variations
of ore grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; political instability,
insurrection or war; delays in obtaining governmental approvals or
required financing or in the completion of development or
construction activities, as well as those factors discussed in the
section entitled "General Development of the Business - Risks of
the Business" in the Company's annual information form for the year
ended December 31, 2007 on file with the securities regulatory
authorities in Canada and the Company's Form 40-F on file with the
Securities and Exchange Commission in Washington, D.C. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities law.
Cautionary Note to U.S. Investors Concerning Estimates of
Measured, Indicated or Inferred Resources
The information presented uses the terms "measured", "indicated"
and "inferred" mineral resources. United States investors are
advised that while such terms are recognized and required by
Canadian regulations, the United States Securities and Exchange
Commission does not recognize these terms. "Inferred mineral
resources" have a great amount of uncertainty as to their
existence, and as to their economic and legal feasibility. It
cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of inferred mineral resources may not form the
basis of feasibility or other economic studies. United States
investors are cautioned not to assume that all or any part of
measured or indicated mineral resources will ever be converted into
mineral reserves. United States investors are also cautioned not to
assume that all or any part of an inferred mineral resource exists,
or is economically or legally mineable.
To view a map of "Figure 1: Limon Mine, Santa Pancha vertical
longitudinal section", please visit the link below:
http://media3.marketwire.com/docs/csmmap908_1.pdf
To view a map of "Figure 2: Orosi Mine, Plan View showing major
exploration target areas", please visit the link below:
http://media3.marketwire.com/docs/CSMfigure2.pdf
Contacts: Central Sun Mining Inc. Caroline Arsenault Investor
Relations (416) 860-0919 x223 Email: ir@centralsun.ca
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