Mr. David Tafel reports

CENTURION ANNOUNCES PRIVATE PLACEMENT FINANCING

Centurion Minerals Ltd. has arranged a non-brokered private placement financing for up to $500,000 priced at 2.5 cents per unit.

The private placement will be a unit offering, with each unit comprising one common share and one-half share purchase warrant. Each full warrant shall have a term of 24 months, commencing on the closing date, and entitles the holder to purchase one common share at a price of five cents during the first year and 10 cents during the second year.

As announced on Aug. 12, 2024, Centurion executed a binding letter of intent with a Nicaragua-based corporation, wherein the company can acquire up to a 78-per-cent interest in the 2,520-hectare San Cristobal gold project by agreeing to finance all exploration and development activities up to a production decision. The company is working to complete corporate and geological due diligence and a definitive agreement.

Extending beyond the initial San Cristobal interest, Centurion has the exclusive right to acquire up to a 100-per-cent interest in additional precious-metal concessions acquired by, or availed to, the Nicaragua group. Centurion is currently reviewing information on additional concession areas and, subject to positive due diligence and agreeable financial terms, the company will proceed to complete one or more additional definitive agreements.

Financing proceeds are allocated as follows: 50 per cent for working capital and general corporate activities; 15 per cent for the completion of due diligence on the San Cristobal (Nicaragua) concessions; 15 per cent for implementing a geophysics survey on the Casa Berardi West gold project; 10 per cent for corporate communications; and 10 per cent for non-arm's-length payments. Closing will be subject to TSX Venture Exchange approval, and any shares issued will be subject to a four-month hold period.

About Centurion Minerals Ltd.

Centurion Minerals is a Canadian-based company with a focus on precious metals asset exploration and development in the Americas. Centurion can earn a 100-per-cent interest in the Casa Berardi West gold project, which is located in the prolific, gold-producing greenstone belt of the central Abitibi subprovince of Northeastern Ontario.

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