Central Sun Mining Inc. ("Central Sun" or the "Company") (TSX:
CSM)(TSX: CSM.WT)(AMEX: SMC) is pleased to provide the final
results from its successful 2008 exploration program at the Limon
and Orosi Mine areas and the Mestiza-La India project in Nicaragua.
"The 2008 exploration program has been very successful; we have
achieved our objectives of outlining new gold zones that will
likely significantly increase the economic mineral resources in the
two mining areas. We have developed a much greater understanding of
the nature and distribution of the gold mineralization within these
extensive epithermal systems which will allow for more efficient
and focussed exploration in the future. We have identified a number
of priority target areas for the 2009 exploration program.
Infrastructure upgrades and technical training have been ongoing
throughout the year and a strong professional exploration team of
Nicaraguan personnel has been developed. A new resource estimation
is underway for the new gold zones in both mining areas." commented
Dr. Bill Pearson, P.Geo., Executive Vice President Exploration.
A conference call is scheduled for analysts and investors on
Monday, November 17, 2008 at 2 p.m. (EST) to discuss exploration,
operations and Q3 2008 financial results.
Orosi Mine Area
The Orosi Mine is an open pit mine that has produced 260,000
ounces of gold and currently has a Proven and Probable mineral
reserves primarily in the Mojon-Crimea zone of 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). Central Sun is currently
converting the Orosi open pit mine from a heap leach operation to a
conventional milling operation that will improve gold recoveries
from approximately 40% to over 90%. The 2008 exploration program
focussed on testing gold mineralization targets that could add
resources and reserves within five (5) kilometres of the processing
plant.
Exploration diamond drilling totaling 13,796 metres in 82 holes
was completed in 2008 in the Orosi Mine area. Targets tested as
shown below in Figure 1 include the following areas: San Juan (30
holes); Los Angeles (3 holes); Quernos do Oro (10 holes); Mojon SW
and NE Extensions (17 holes); Victoria-Santa Maria (14 holes); and
Gobierno (8 holes).
San Juan is a potential new higher grade open pit mining target
located 5 kilometres south of the processing plant as shown in
Figure 1. As previously reported (see press release September 8,
2008), the results of the initial wide-spaced drilling of 12 holes
totaling 2,036 metres over an approximate 800 metre strike length
were very positive. Follow-up definition drilling at San Juan
confirmed the new gold zone; sixteen (16) holes totaling 2,000
metres at spacings of approximately 50 metres by 50 metres have
been completed. Complete results from these holes are given in
Table 1 and shown in Figure 2, a vertical longitudinal section.
Highlights are as follows:
- 58.69 g Au/t (18.58 g/t with highs cut to 25 g/t) over a true
width of 4.4m in SJ-08-14
- 38.58 g Au/t (14.42 g/t with highs cut to 25 g/t) over a true
width of 2.8m in SJ-08-15
- 14.45 g Au/t (4.30 g/t with highs cut to 25 g/t) over a true
width of 7.7m in SJ-08-16
- 7.68 g Au/t over 2.7m true width in SJ-08-18
- 4.17 g Au/t over 3.5m true width in SJ-08-21
- 4.04 g Au/t over 5.0m true width in SJ-08-22
- 4.51 g Au/t over 4.2m true width in SJ-08-28
The Los Angeles vein structure located adjacent to San Juan and
probably representing a related splay structure adds potential
magnitude to the new San Juan gold zone (see Figure 1). Three (3)
holes totaling 565 metres as previously reported, tested targets at
shallow depths in the Los Angeles target area. Complete results
from these holes are given in Table 1. Highlights are as
follows:
- 13.04 g Au/t (12.31g/t with highs cut to 25g/t) over 5.0 m
true width in AN-08-02 (at a vertical depth of 30 metres).
- 2.61 g Au/t over 4.5 m true width in AN-08-01 (at a vertical
depth of about 20 m).
Drill testing of four (4) holes totaling 796 metres to test
potential splay structures of the Mojon-Crimea structure in the
Santa Elena (Desconocida) area approximately two (2) kilometres
northeast of the milling facility (within circle of Mojon NE area
shown in Figure 1) returned excellent results as follows:
- 13.49 g Au/t (8.42g/t with highs cut of 25 g/t) over 2.1m true
width in DES-08-03
- 11.77 g Au/t (6.09g/t with highs cut to 25 g/t) over a true
width of 4.0m in DES-08-02
- 4.44 g Au/t over a true width of 2.3m and 7.20 g Au/t over a
true width of 1.5m in DES- 08-01
Geological mapping and the three(3) wide spaced exploration
drill holes confirmed that the NE extension of the Mojon-Crimea
structure is truncated by a major east-northeast striking fault in
the Santa Elena area near the Gubierno target area where the
induced polarization anomalies were outlined. The holes at Gobierno
as previously reported confirmed the presence of widespread
disseminated pyrite within a variety of hydrothermally clay-altered
breccias however these breccias appear to be later stage and
unrelated to gold mineralization. Further northeast, the
Mojon-Crimea structure re-emerges south of the fault and this area
will be a major focus of exploration in 2009.
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 ten holes intersected a mineralized
gold structure from 1.4 metres to 2.5 metres true width; the best
results were 2.08 g Au/t over a true width of 3.0 metres in Hole
CO-08-10 and 2.95 g Au/t over a 0.8 metre true width in Hole
CO-08-08. This target area will likely be set aside for the small
miners to fulfill requirements under Nicaraguan law that 1% of the
area of the mining concession be allocated for exploitation by
small miners.
Dr. Bill Pearson, Ph.D., Executive Vice President Exploration
commented: "The positive results of our 2008 exploration program
have confirmed the excellent potential to significantly expand
known resources and outline new open pittable gold reserves at
Orosi. A block model resource estimation is in progress for San
Juan. This zone is open along strike in both directions as well as
at depth and represents excellent new mining potential at Orosi. In
addition, there is excellent potential to outline additional
resources with further drilling on the adjacent Los Angeles target.
This area will be a priority target in the 2009 exploration
program."
Limon Mine Area
Definition drilling has been completed on the new Santa Pancha
southern extension zone as shown on vertical longitudinal section
below in Figure 3. 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 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.
In 2008 Central Sun completed 7,055 metres of diamond drilling
in 25 holes. This drilling outlined a mineralized zone that extends
at least 500 metres along strike and 150 metres vertically. Gold
mineralization occurs within a north-south striking, steeply
dipping epithermal quartz vein breccia zone that averages
approximately 15 metres thick. The highest grade gold values within
this zone are associated with zones of very fine-grained, laminated
chalcedonic quartz. Highlights from the 2008 program at Santa
Pancha are as follows:
- 5.83 g Au/t (4.99 g/t with highs cut to 25 g/t) over 12.3m
true width in LM-08-01
- 4.54 g Au/t over 15.0m true width in LM-08-03
- 7.22 g Au/t over 2.6m true width in LM-08-04
- 6.25 g Au/t over 5.0m true width in LM-08-11
- 7.34 g Au/t over 3.8m true width in LM-08-12
- 8.76 g Au/t (6.21 g/t with highs cut to 25 g/t) over 15.4m in
LM-08-13
- 6.70 g Au/t over 6.6m true width in LM-08-14
- 9.83 g Au/t over 6.4m true width in LM-08-19
- 6.05 g Au/t over 18.0m true width in LM-08-21
- 198.69 g Au/t (7.90 g/t with highs cut to 25 g/t) over 5.3
true width in LM-08-22
Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration
commented, "The closer spaced drilling has provided much better
definition of the distribution of gold mineralization within this
extensive structure and we have consistently obtained very good
results throughout the exploration drill program. Our experience
from underground mining is that the mine grades tend to be higher
than those indicated in the drill holes. A block model mineral
resource estimate is currently being prepared. The Limon mine
department is preparing a conceptual mine plan to outline the
exploration drilling and development required in 2009 to bring the
new zone into the mineral reserve category."
Mestiza-La India Area
At Mestiza-La India, located 70 kilometres east of Limon,
Magnetic, Resistivity and Induced Polarization (IP) surveys have
been conducted on 50.6 line kilometres along with geological
mapping, sampling, prospecting and data compilation. Geological
mapping indicates it is likely that a complete epithermal system is
exposed from the lower intrusive at La India 10 kilometres to the
southeast to high level quartz veins at Mestiza. Vertically, the
system appears to extend from about 500 metres to perhaps as much
as 900 metres. Historic production from 1938 to 1955 at La India
was 575,000 ounces of gold from 1.73 million tonnes grading 13.4 g
Au/t. The Tatiana vein on the Mestiza property 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 5km.
Significantly higher resistivity anomalies are associated with
all of the major veins that are known on the property including the
Tatiana, Espinito, Guapinol, and Constancia-America showings. The
strongest resistivity high with a strike length over 800 m is
associated with the Guapinol vein in the middle of the Mestiza-La
India property. This anomaly persists to the maximum depth sampled
in both the resistivity and chargeability data. A north-south
trending resistive structure is located in the previously
unexplored southwest part of the grid. This trend is potentially
the northward strike extension of the La India vein.
The geophysical surveys resulted in eight (8) significant
targets being outlined for drilling including the Guapinol,
Espinito, Norte de La India, and Tatiana anomalies. Geological
mapping and sampling has confirmed the presence of gold mineralized
quartz veins in the areas of these anomalies. A particular focus
has been on defining areas with potential conjugate veins sets
where a greater density of veining could yield potential open
pittable targets. Data from this work is currently being compiled;
assays on a number of the samples are pending. A 2,500 m drill
program was planned to evaluate these anomalies in 2008 however it
has been deferred until later.
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.
CONFERENCE CALL
TORONTO, ONTARIO - Central Sun Mining Inc. ("Central Sun" or the
"Company") (TSX: CSM)(TSX: CSM.WT)(AMEX: SMC) has scheduled a
conference call for analysts and investors on Monday, November 17,
2008 at 2 p.m. (EST) to discuss Q3 2008 financial results and
provide an update on its exploration and operations activities.
Messrs. Peter Tagliamonte, President and Chief Executive
Officer; Bill Pearson, Executive Vice President, Exploration;
Graham Speirs, Chief Operating Officer and Denis Arsenault, Chief
Financial Officer will be available to answer questions during the
call.
To participate in the conference call, please dial 416-695-9753
or 1-877-461-2814 about five minutes prior to the start of the
call.
A live audio webcast of the conference call will be available at
www.centralsun.ca.
An archived recording of the call will be available at
416-695-5800 or 1-800-408-3053 (Passcode #3275221) until November
24, 2008 11:59 p.m. An archived recording of the webcast will also
be available on the Company's website.
Table 1A: Summary of Drilling Results San Juan, Los Angeles, Cuernos do
Oro, Mojon, Victoria-Santa Maria 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-08-014 48.76 54.86 6.10 4.4 58.69 18.58 San Juan
----------------------------------------------------------------------------
SJ-08-015 104.72 109.62 4.88 2.8 38.58 14.42 San Juan
----------------------------------------------------------------------------
SJ-08-016 54.86 66.93 12.07 7.7 14.45 4.30 San Juan
----------------------------------------------------------------------------
SJ-08-017 59.54 63.13 3.89 3.4 1.32 San Juan
----------------------------------------------------------------------------
SJ-08-018 70.40 74.40 4.00 2.7 7.68 San Juan
----------------------------------------------------------------------------
SJ-08-019 105.50 107.14 1.64 0.9 1.38 San Juan
----------------------------------------------------------------------------
SJ-08-020 72.45 74.28 1.83 1.2 1.01 San Juan
----------------------------------------------------------------------------
SJ-08-021 94.45 98.45 4.00 3.5 4.17 San Juan
----------------------------------------------------------------------------
SJ-08-022 146.65 153.65 7.00 5.0 4.04 San Juan
----------------------------------------------------------------------------
SJ-08-023 182.36 184.30 2.00 1.6 1.22 San Juan
----------------------------------------------------------------------------
SJ-08-024 161.12 163.06 1.94 1.1 0.94 San Juan
----------------------------------------------------------------------------
SJ-08-025 117.73 118.87 1.14 0.9 1.17 San Juan
----------------------------------------------------------------------------
SJ-08-026 79.24 95.65 11.54 8.0 0.85 San Juan
----------------------------------------------------------------------------
SJ-08-027 118.54 121.48 2.94 1.5 1.54 San Juan
----------------------------------------------------------------------------
SJ-08-028 80.15 85.00 4.85 4.2 4.51 San Juan
----------------------------------------------------------------------------
SJ-08-029 28.95 31.70 2.75 2.1 1.28 San Juan
----------------------------------------------------------------------------
SJ-08-030 84.60 87.97 3.37 3.4 1.04 San Juan
----------------------------------------------------------------------------
Los Angeles (iv)
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
Mojon SW and NE Extensions
----------------------------------------------------------------------------
DES-08-001 7.62 12.16 4.54 2.3 4.44 Desconocida
----------------------------------------------------------------------------
And 40.65 43.65 3.00 1.5 7.20 Desconocida
----------------------------------------------------------------------------
DES-08-002 99.30 107.26 7.96 4.0 11.77 6.09 Desconocida
----------------------------------------------------------------------------
DES-08-003 68.39 71.39 3.00 1.5 1.35 Desconocida
----------------------------------------------------------------------------
DES-08-004 57.00 61.13 4.13 2.1 13.49 8.42 Desconocida
----------------------------------------------------------------------------
SEE-08-001 nsv Santa Elena
Ext
----------------------------------------------------------------------------
SEE-08-002 nsv Santa Elena
Ext
----------------------------------------------------------------------------
SEE-08-003 nsv Santa Elena
Ext
----------------------------------------------------------------------------
Cuernos do Oro
----------------------------------------------------------------------------
CO-08-007 69.73 70.40 0.67 0.6 1.10 Cuernos Oro
----------------------------------------------------------------------------
CO-08-008 127.00 128.00 1.00 0.8 2.95 Cuernos Oro
----------------------------------------------------------------------------
CO-08-009 nsv Cuernos Oro
----------------------------------------------------------------------------
CO-08-010 118.94 121.98 3.04 2.3 2.08 Cuernos Oro
----------------------------------------------------------------------------
Victoria-Santa Maria
----------------------------------------------------------------------------
VICSM-08-010 nsv Santa Maria
----------------------------------------------------------------------------
VICSM-08-011 nsv Santa Maria
----------------------------------------------------------------------------
VICSM-08-012 nsv Santa Maria
----------------------------------------------------------------------------
IP Anomalies (Gobierno)
----------------------------------------------------------------------------
GO-08-007 nsv Gobierno
----------------------------------------------------------------------------
GO-08-008 nsv 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
(iv) Holes drilled at Los Angeles target previously reported
Table 1B: 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-08-015 1352577.62 699441.77 541.55 120.39 135 -55
---------------------------------------------------------------------------
SJ-08-016 1352606.61 699499.33 554.70 76.20 135 -56
---------------------------------------------------------------------------
SJ-08-017 1352374.88 699266.47 531.69 67.15 146 -45
---------------------------------------------------------------------------
SJ-08-018 1352424.35 699341.88 544.29 94.48 135 -56
---------------------------------------------------------------------------
SJ-08-019 1352378.50 699236.00 528.00 123.44 135 -53
---------------------------------------------------------------------------
SJ-08-020 1352527.52 699403.40 554.51 106.68 135 -48
---------------------------------------------------------------------------
SJ-08-021 1352188.43 698962.42 504.67 121.92 135 -46
---------------------------------------------------------------------------
SJ-08-022 1352564.33 699368.88 536.49 172.21 135 -48
---------------------------------------------------------------------------
SJ-08-023 1352698.63 699521.63 531.55 188.97 130 -52
---------------------------------------------------------------------------
SJ-08-024 1353257.90 698995.06 501.99 176.78 135 -50
---------------------------------------------------------------------------
SJ-08-025 1352449.53 699289.63 532.90 132.58 135 -49
---------------------------------------------------------------------------
SJ-08-026 1352250.11 699086.98 532.32 121.92 135 -52
---------------------------------------------------------------------------
SJ-08-027 1352250.11 699086.98 532.32 131.06 135 -65
---------------------------------------------------------------------------
SJ-08-028 1352233.00 699023.00 511.00 109.72 135 -45
---------------------------------------------------------------------------
SJ-08-029 1352295.00 699172.00 541.50 76.20 135 -49
---------------------------------------------------------------------------
SJ-08-030 1352327.50 699151.00 523.00 124.96 135 -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-08-007 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
---------------------------------------------------------------------------
Mojon SW and NE Extensions
---------------------------------------------------------------------------
SEE-08-001 1354394.24 698264.15 667.97 150.87 336 -50
---------------------------------------------------------------------------
SEE-08-002 1354566.80 698303.99 699.17 169.16 156 -50
---------------------------------------------------------------------------
SEE-08-003 1354293.09 698198.18 634.32 179.83 336 -45
---------------------------------------------------------------------------
DES-08-001 1354247.61 698056.33 592.85 192.02 150 -45
---------------------------------------------------------------------------
DES-08-002 1354319.93 698200.81 637.23 220.98 150 -62
---------------------------------------------------------------------------
DES-08-003 1354278.16 698167.20 633.31 182.88 150 -65
---------------------------------------------------------------------------
DES-08-004 1354277.50 698111.23 586.56 199.64 150 -50
---------------------------------------------------------------------------
Victoria-Santa Maria
---------------------------------------------------------------------------
VICSM-08-010 49620.10 49362.26 448.89 152.40 150 -40
---------------------------------------------------------------------------
VICSM-08-011 49591.94 49199.19 467.68 246.88 325 -45
---------------------------------------------------------------------------
VICSM-08-012 49549.81 49284.49 466.81 123.44 360 -50
---------------------------------------------------------------------------
IP Anomalies (Gobierno)
---------------------------------------------------------------------------
GB-08-007 1354800.00 698742.00 597.54 201.16 155 -50
---------------------------------------------------------------------------
GB-08.008 1354817.00 699184.00 596.43 242.31 335 -55
---------------------------------------------------------------------------
(i) All measurements are in metres except Azimuth (Az) and Dip which are
measured in degrees.
Table 2A: 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-08-023 196.80 202.05 5.25 4.0 1.58 Santa Pancha
----------------------------------------------------------------------------
LM-08-024 95.90 100.25 4.96 3.8 1.43 Santa Pancha
----------------------------------------------------------------------------
LM-08-025 122.20 127.90 6.92 2.6 3.40 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 2B: Collar Coordinates and Orientation of Drill Holes, Santa Pancha,
Limon Mine
---------------------------------------------------------------------------
Hole Easting Northing Elevation Length Az(i) Dip(i)
(metres)
---------------------------------------------------------------------------
LM-08-023 19335.00 13504.50 60.00 262.95 291 -62
---------------------------------------------------------------------------
LM-08-024 19265.00 13573.00 61.00 118.45 270 -63
---------------------------------------------------------------------------
LM-08-025 13573.00 13573.00 61.00 167.90 241 -80
---------------------------------------------------------------------------
(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 Figure 1: Major Target areas, Orosi, please visit the
following link:
http://media3.marketwire.com/docs/csm1117a.pdf
To view Figure 2: San Juan, Orosi, vertical longitudinal
section, please visit the following link:
http://media3.marketwire.com/docs/csm1117b.pdf
To view Figure 3: Santa Pancha, Limon Mine, vertical
longitudinal section, please visit the following link:
http://media3.marketwire.com/docs/csm1117c.pdf
Contacts: Central Sun Mining Inc. Peter Tagliamonte President
& CEO (416) 860-0919 (416) 367-0182 (FAX) Website:
www.centralsun.ca
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