Centurion Minerals Ltd. announced it has acquired the right to earn a 100% interest in the Casa Berardi West Gold Project (the "Project") located in the prolific gold producing, Harricana-Turgeon greenstone belt of the central Abitibi Subprovince of north-eastern Ontario. HIGHLIGHTS: Historical exploration includes more than 70 RC drill holes returning encouraging results that include 18 samples greater than 1,000 ppb (1 g/t) Au and the high returning 38,000 ppb (38g/t) Au; The Project is situated along structural corridors hosting world-class discoveries, operating mines, and significant past-producing operations, including: Hecla Mining's Casa Berardi Mine located 20 km NE with 3 million ounces ("Moz") Au in past production and 4 Moz Au in reserves and resources; Aurileus Minerals' Mikwam Property with 1.81 million tonnes ("Mt") @ 2.34 g/t Au for 136,000 oz; AMEX Exploration's recent Perron gold discovery that includes a drill hole returning 15.52 g/t Au over 15.85 metres; located 12 kms from the Project; and Normetal Mine's historical production of 10 Mt @ 2.2% Cu, 5.4% Zn, 0.5g/t Au, and 44.5 g/t Ag4; Numerous iron formations and shear zones proximal to a late granitic pluton has gold deposit analogies to the Musselwhite gold mine in northern Ontario; and Excellent access and infrastructure. The Project consists of 3 non-contiguous claim groups (Noseworthy, Newman and Hepburn) comprising a total of 11,600 acres or 4,700 hectares (the "Properties"), strategically located northeast of Cochrane, Ontario, in the metal endowed central north Abitibi greenstone belt.

Structurally, the three claim groups are proximal to regional crustal scale deformation zones. The Noseworthy claim group lies just north of the Casa Berardi Deformation Zone, integrally related to the Mikwam gold deposit of Aurelius Metals Inc. to the east, and the Casa Berardi gold mine owned and operated by Hecla Mining Company. The Newman claim group hosts part of the Mikwam River Fault.

The Hepburn claim group lies along an extension of rocks and structures believed to be related to the former Normetal VMS mine (15 kilometers away) and more recently to the high-grade gold discovery by AMEX Exploration Company at the Perron property located 12 kilometers to the east of the Hepburn claims. Mineralization on the Project consists of: Banded iron-formation (BIF) hosted sulphides with indications of gold mineralization, Shear-hosted gold mineralization, Disseminated copper-bearing sulphide mineralization in tuffaceous rocks. The Noseworthy claim group has seen little systematic historical exploration despite its strategic location just north of the Casa Berardi Deformation Zone (CBDZ) that hosts the Mikwam gold deposit owned by Aurelius Minerals. The Mikwam gold deposit hosts a 43-101 compliant inferred resource of 1.81 million tonnes at an average grade of 2.34 g/t Au for a 136,000 contained ounces of gold at a reported cut-off grade of 1 g/t Au.

The Newman claim group is dominated by a property long banded iron-formation. In 1987 Chesbar Resources ("Chesbar") completed 72 reverse circulation (RC) drill holes totaling 2,261 metres (m). Sampling of the tills at the bedrock- overburden interface and above bedrock resulted in one assay of 38,000 ppb (38g/t) gold (AFRI 42H08NE0048) and a number of others grading above 1,000 ppb (1 g/t) gold.

Chesbar followed up the positive RC results with 8 diamond drill holes totaling 1,518m, but failed to explain the numerous elevated gold results from the RC drill program. Subsequent companies relied on airborne magnetic and electromagnetic surveys to generate drill targets for 2-5 drill hole programs. The Hepburn claim group lies 15km to the northwest of the former Normetal Cu-Zn mine which produced 10 million tonnes grading 2.2% Cu, 5.4% Zn, 0.53 g/t Au and 44.5 g/t Ag between 1938 and 1975. The claim boundary is also located 12km northwest of the Perron gold project recently discovered by Amex Exploration.

On June 16, 2022, Amex announced high-grade diamond drilling results of 15.52 g/t Au over 15.85m and 11.27 g/t Au over 11m. Seal River Exploration Ltd. drilled one hole in 1990 and intersected bands of cherty garnetiferous, sulphide-magnetite iron formation over widths of 2-4 m in amphibolitic mafic volcanics. From 117.65 m a 1 m section assayed 396 ppb Au.

From 147.58 m, a 0.91 m section assayed 240 ppb Au (AFRI 32E04SE0026). Seal River returned and drilled 3 more holes PR91-1 through PR91-3 totaling 306.93 m. Holes PR91-1 and PR91-3 were drilled on the current Hepburn claim group. Hole PR91-1 failed to intersect any significant assays.

Hole PR91-3 was drilled on the same horizontal loop electromagnetic (HLEM) anomaly 300m to the east of hole PR90-1 and intersected similar bands of cherty garnetiferous, sulphide-magnetite iron formation over widths of 0.5-2.13 m in amphibolitic mafic volcanics. Highlights from this hole include 306 ppb Au over 0.91 m (AFRI 32E04SE9301). The Option Agreement enables Centurion to acquire a 100% interest in the Casa Berardi West Project for cash consideration totaling $114,000 and the issuance of 600,000 common shares over a 3-year period.

The Optionors will retain a 2% NSR but Centurion has the right to acquire 50% of the NSR for $1,000,000. The transaction is subject to TSX Venture Exchange approval.