Mr. David Tafel reports

CENTURION MINERALS LTD. PROVIDES STATUS REPORT OF ANNUAL FINANCIAL STATEMENTS AND MD&A

Centurion Minerals Ltd. has provided this biweekly default status report in accordance with the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders).

The company previously announced on Nov. 14, 2024, that it had applied for a management cease trade order with the applicable securities regulatory authorities in Canada on the basis that the company's audited annual financial statements, accompanying management's discussion and analysis, and related certifications for the fiscal year ended July 31, 2024, would not be filed by the applicable filing deadline of Nov. 28, 2024. The company announced that the MCTO was issued on Nov. 29, 2024. The MCTO restricts the chief executive officer and chief financial officer from all trading in securities of the company until such time as the annual filings have been filed by the company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the company to trade in securities of the company.

Preparation of the annual filings has also impacted the timely completion of the company's interim financial statements, accompanying management's discussion and analysis, and related certifications for the three months ended Oct. 31, 2024. The completion of the interim filings is dependent on the results contained in the annual filings, and, accordingly, the company will not be able to file the interim filings by the reporting deadline of Dec. 30, 2024.

The company and its auditor continue to work diligently toward completing the annual filings and interim filings as soon as possible, and continue to expect that it will be in a position to file the annual filings on or before Jan. 27, 2025, and the interim filings within five business days of the annual filings. Reasons for the anticipated delay are certain administrative delays in relation to the audit.

The company confirms that since the date of the default announcement: (i) other than as described above, there has been no material change to the information set out in the default announcement that has not been generally disclosed; (ii) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the company under NP 12-203; and (iv) there is no other material information concerning the affairs of the company that has not been generally disclosed.

The company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the annual filings and the interim filings.

About Centurion Minerals Ltd.

Centurion is a Canadian-based company with a focus on precious mineral 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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