Mr. David Tafel reports

CENTURION EXECUTES OPTION AGREEMENT FOR LIMESTONE GOLD PROJECT, NEAR ZIJIN'S ROSEBEL GOLD MINE IN SURINAME

Centurion Minerals Ltd. has executed an option to purchase agreement for the Limestone gold project in Suriname. The project is located proximal to the Rosebel and Saramacca mines of Zijin Mining Group Co. Ltd. and areas of extensive small-scale mining.

The 3,548-hectare project is well situated for a gold discovery. Historical and active small-scale mining indicates the presence of gold within the Limestone concession. Limestone is situated in the largest and most productive region of both active and historic gold mining in Suriname. This region includes the Rosebel gold mines operated by Zijin hosting a resource exceeding six million ounces of gold (195 tonnes) with a grade of 1.04 grams per tonne (g/t) (source: Zijin, Rosebel mine). In addition, other international mining companies have been active in the region, exploring and drilling projects along the Saramacca and Rosebel mine trends of Zijin. Limestone appears to be along the Saramacca mine trend.

The Limestone gold project maintains an exploitation licence granted to the current concession holders in 2025. The project is less than four hours by road (or boat) from Paramaribo, Suriname's capital city, with the Saramacca River crossing the concession area.

Gold mineralization in Suriname is primarily controlled by structural and lithological factors within the Paleoproterozoic Marowijne greenstone belt of the prolific gold producing Guiana Shield (source: Journal of South American Earth Sciences). The deposits are predominantly classified as orogenic gold systems formed during the Trans-Amazonian orogeny (source: Cambridge University Press).

Suriname has two Tier 1 mines, Rosebel owned by Zijin and Merian owned by Newmont Corp., both located within the greenstone belt. Historically, the greenstone belt has been underexplored, however, in recent years the area has experienced a surge in mineral exploration activity from companies, including Founders Metals Inc., Miata Metals Corp., Greenheart Gold Inc. and Sranan Gold Corp. Suriname has the potential to develop multiple new mines from concessions having similar potential to Limestone.

Addition of Suriname-based exploration and development team

The company intends to conduct exploration utilizing an experienced Suriname-based team located in Paramaribo. The exploration and development team is supervised by Dr. Dennis J. LaPoint, PhD, PGeo, having more than 26 years of experience in Suriname. Dr. LaPoint led the geological team's discovery of what has become the Merian mine, currently owned by Newmont.

Strategic focus on exploration and mining jurisdictions

Centurion's Suriname objectives include acquiring additional prospective gold concessions. Specific opportunities have been identified with interested concession holders. In keeping with the Suriname focus, the company has terminated the Casa Berardi property option agreement.

Transaction summary

To earn a 100-per-cent interest in the Limestone gold project, the company has executed a six-year option to purchase agreement. The payments comprise $500,000 (U.S.) cash paid to the optionors and project exploration expenditures of $500,000 (U.S.), as follows:

1. $30,000 (U.S.) paid in cash within 30 days of the effective date of the agreement;
2. $40,000 (U.S.) paid in cash on the first anniversary of the agreement date and $50,000 (U.S.) in exploration;
3. $50,000 paid in cash on the second anniversary of the agreement date and $75,000 (U.S.) in exploration;
4. $50,000 (U.S.) paid in cash on the third anniversary of the agreement date and $75,000 (U.S.) in exploration;
5. $60,000 (U.S.) paid in cash on the fourth anniversary of the agreement date and $100,000 (U.S.) in exploration
6. $70,000 (U.S.) paid in cash on the fifth anniversary of the agreement date and $100,000 (U.S.) in exploration
7. $200,000 (U.S.) paid in cash on the sixth anniversary of the agreement date and $100,000 (U.S.) in exploration.

The project is subject to a 2-per-cent net smelter return (NSR) royalty and the company has the right to purchase the NSR from the optionors by paying $1-million for each 1 per cent.

Qualified person

Dr. LaPoint, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company.

About Centurion Minerals Ltd.

Centurion Minerals is a Canadian-based company with a focus on precious mineral asset exploration and development in the Americas.

We seek Safe Harbor.