Central Sun Reports Positive Exploration Drill Results in Limon Mine Area, Nicaragua

Central Sun Mining Inc. (the "Company") (TSX: CSM)(TSX: CSM.WT)(AMEX: SMC) has scheduled a conference call for analysts and investors on Wednesday, January 30, 2008 at 11:00 a.m. (Eastern) to provide an update on its exploration and operations activities.

Conference Call

To participate in the conference call, please dial 416-641-6132 or 1-866-226-1792 about five minutes prior to the start of the call.

EXPLORATION UPDATE

Central Sun Mining Inc. has completed the first two diamond drill holes of a planned 10,000 metre program in the Limon Mine area. The first target area being tested is the potential downdip and on strike extensions of the Santa Pancha orebody as shown on the vertical longitudinal section (Figure 1). The Santa Pancha orebody, which has the highest grade of 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.

Both completed drill holes LM-08-001 and LM-08-002, spaced about 90 metres apart, intersected an approximately 15 metre wide zone of epithermal quartz vein breccia about 160 metres below the current mining activities being conducted at the Santa Pancha Mine. Results are shown in Table 1. Hole LM-08-001 intersected 5.83 g Au/t (4.99 cut) over a 12.3 metre true width including 9.62 g Au/t (8.03 cut) over a 6.5 metre true width. Hole LM-08-002 also intersected a similar width of quartz vein breccia in the same structure as the first hole but not as strongly mineralized. Hole LM-08-003 in progress will test this structure a further 90 metres along strike to the south.

Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration commented, "These initial results confirm that the mineralized structure extends to at least 160 metres below the present mining with areas of significant gold mineralization. This is a major structure that is open both along strike to the south and down dip. The additional planned holes will further test this potential. A program of downhole induced polarization surveys will be carried out to help determine the best locations for additional deeper drill holes on this structure."

The Santa Pancha structure, located about 4km east of the Limon processing plant strikes N20E and extends for approximately 2.5km along strike as shown in Figure 2. The target zone being tested as shown on the longitudinal section (Figure 1) extends for approximately 650 metres along strike from the No. 2 shaft area southwards. The vertical extent of the target zone is between 100 to 150 metres; however, the full potential extent of the epithermal vein system at depth has not been tested and remains open. Historical drilling in three deeper holes in the southern part of the target area intersected significant values of 28.93 g Au/t over 2.3 metres true width, 7.94 g Au/t over 8.85 metres true width and 4.57 g Au/t over 4.41 metres true width. A series of six (6) holes as shown on the vertical longitudinal are initially planned to test the target with the third hole LM-08-003 now in progress.

A second drill rig has arrived in Nicaragua and will be testing targets in the Orosi Mine area. A third drill also has been confirmed for delivery in April 2008. Line cutting for induced polarization (IP) surveys at Mestiza located 70km east of Limon is in progress. Data compilation for all properties as well as regional targets is in progress with geological mapping and sampling initiated in several areas. As previously reported, the exploration program for 2008 is budgeted at $7 million and will include 25,000 metres of diamond drilling.

OPERATIONS UPDATE

During November and December of 2007, the Limon Mine met production expectations with 6,496 ounces of gold being produced. The Limon Mine is expected to produce 45,000 ounces of gold in 2008 and increasing to 50,000 ounces in 2009.

The Orosi Mill Project is on schedule and progressing as planned. The mobilization of the complete mill facilities and equipment from Elko, Nevada has been completed. To date, more than 80 percent of the equipment required to rebuild the Mill at the Orosi Mine has arrived and cleared customs in Nicaragua. By the end of February, it is expected that all major pieces of the Mill equipment will be on site. Construction activities have started and the construction contractor has mobilized and is on site.

Graham A. Speirs, P.Eng. Chief Operating Officer stated, "With the great efforts made by its mining team in 2007, the Limon Mine is off to an excellent start and we expect to meet or exceed our 2008 projections. The Orosi Project is also progressing very well. We continue to be on track for the completion of the project in the first quarter of 2009. Everyone has risen to the occasion and understands the importance of getting the Orosi Mine back into operation as quickly as possible. We feel there are opportunities to improve the schedule and are working towards this goal."

SAMPLING, ASSAYING AND QUALITY CONTROL

The core (NQ 47.6 mm) is 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. Samples for the Orosi drill program will be analyzed at the Orosi Mine laboratory. A second circuit is currently being installed at the Orosi laboratory however no run-of-mine samples are currently being assayed at this facility.