Centurion Announces CASA Berardi WEST GOLD Project Transaction
NEWS RELEASE
CENTURION ANNOUNCES CASA BERARDI WEST GOLD PROJECT TRANSACTION
Vancouver, B.C. – August 08, 2022 – Centurion Minerals Ltd. (TSX -V: CTN) (the “ Company” or
“Centurion”) is pleased to announce 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
1) 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 highest returning 38,000 ppb
(38g/t) Au;
2) The Project is situated along structural corridors hosting world-class discoveries, operating
mines, and significant past-producing operations, including:
a. 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 resources1;
b. Aurileus Minerals’ Mikwam Property with 1.81 million tonnes (“Mt”) @ 2.34 g/t Au
for 136,000 oz2;
c. 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 Project3; and
d. Normetal Mine’s historical production of 10 Mt @ 2.2% Cu, 5.4% Zn, 0.5g/t Au, and
44.5 g/t Ag4;
3) 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
4) Excellent access and infrastructure.
David Tafel, CEO of the Company commented: “We are very excited to have acquired a Project that is in
the middle of a region of current and historical production and in close proximity to ve ry recent new
gold discoveries. Historic exploration and significant drill hole information on and near the Project
claims has given our geological team confidence we can advance exploration quickly . As Centurion
returns to its historic focus of mineral exploration, we believe the Project provides shareholders with an
excellent opportunity for potential value creation.”
Following approval of the previously announced spin -out of the Company’s (cannabis) subsidiary at the
upcoming Annual General and Special Shareholder Meeting on August 12 th, 2022, and TSX Venture
Exchange (the “TSX -V”) approval of the (Casa Berardi West) Project transaction, the Company will
immediately apply for a resumption of trading.
Suite 520 - 470 Granville Street
Vancouver, BC Canada V6C 1V5
Tel: (604) 484-2161
Fax: (604) 683-8544
www.centurionminerals.com
CASA BERARDI WEST PROJECT
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”), s trategically located northeast of Cochrane ,
Ontario, in the metal endowed central north Abitibi greenstone belt (Figure 1).
Figure 1. Regional location of the Casa Berardi West claim groups.
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 eas t, 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 claim s
(Figure 2).
Mineralization on the Project consists of:
1) Banded iron-formation (BIF) hosted sulphides with indications of gold mineralization
2) Shear-hosted gold mineralization
3) Disseminated copper-bearing sulphide mineralization in tuffaceous rocks.
Figure 2. Geology, deposits and structural environment of the Casa Berardi West claim groups.
Noseworthy Claim Group
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.
Newman Claim Group
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 a bove 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 (Table 1).
Table 1. Highlighted results of the RC drilling, Chesbar Resources, 1987.
Hole No. Line No. Station ppb Au g/t Au** Location Comments
SRE-87-09 L24W 7+51S 820 0.82 1 sample above bedrock
SRE-87-13 ?? 7+04S 1300 1.30 1 sample above bedrock
SRE-87-26 L10E 5+03S 4500 4.50 3 samples above bedrock
SRE-87-31 L21E 4+48S 2400 2.40 1 sample above bedrock
SRE-87-53 L67E 6+69S 4900 4.90 4 samples above bedrock
SRE-87-53 L67E 6+69S 1000 1.00 3 samples above bedrock
SRE-87-57 L76E 7+02S 1500 1.50 2 samples above bedrock
SRE-87-59 L80E 7+69S 377* 0.38 bedrock
SRE-87-60 L82E 8+32S 170 0.02 1 sample above bedrock
SRE-87-60 L82E 8+32S 38,000 38.00 3 samples above bedrock
SRE-87-65 L92E 8+63S 2100 2.10 1 sample above bedrock
SRE-87-70 L102E 8+50S 4500 4.50 1 sample above bedrock
SRE-87-70 L102E 8+50S 810 0.81 2 samples above bedrock
* 0.011 oz/ton converted to ppb from 34.28 g/t Au in 1 Troy ounce per short ton.
** Converted by Centurion
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.
Hepburn Claim Group
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 disc overed 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. (Figure 3)
Figure 3. Regional location of the Hepburn claim group along strike of AMEX Exploration gold discovery
and former Normetal Cu-Zn mine.
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).
Transaction Summary
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.
Qualified Person
Mike Kilbourne, P. Geo, 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.
References
1. Technical Report for the Casa Berardi Mine, Northwestern Quebec, Canada authored by Jonathan
Archambault-Giroux, P.Geo, Effective date December 31, 2018.
2. Independent Technical Report, Mikwam Gold Property, Noseworthy Township, Ontario, Canada
by Caracle Creek International Consulting Inc., Effective date December 8, 2016.
3. See press release TSXV:AMX dated June 16, 2022.
4. https://www.yorbeauresources.com/en/projects/normetal-
west/#:~:text=The%20Normetal%20Mine%2C%20located%20relatively,a%20depth%20of%202.
4%20kilometres.
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with a focus on mineral asset development in the
Americas. The Company’s lead investment is its interest in the Ana Sofia Agri -Gypsum Fertilizer Project,
and it is also reviewing additional prospective, precious mineral exploration projects.
“David G. Tafel”
President and CEO
For Further Information Contact:
David Tafel
604-484-2161
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release about anticipated future events
or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified
by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and
statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar
expressions. All statements, other than statements of historical fact, included herein, including, without limitation,
statements regarding, the completion of the Arrangement, the Meeting, the Final Order hearing of the Court, the
anticipated benefits of the Arrangement, the Company’s plan to develop its business and provide Shareholders with
additional investment choices and enhanced value, the C ompany's plans to complete the Consolidation and the
Company's plans to apply to the TSX -V for a resumption of trading as a mineral exploration issuer following the
Meeting; and future capital expenditures, anticipated content, commencement, and cost of exploration programs
in respect of the Company's projects and mineral properties, anticipated exploration program results from
exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the
anticipated business plans and timing of future activities of the Company; are forward -looking statements.
Although the Company believes that the expectations reflected in such forward -looking statements and/or
information are reasonable, undue reliance should not be placed on forward-looking statements since the Company
can give no assurance that such expectations will prove to be correct. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual results or events to differ materia lly from
those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified
in the Company’s periodic filings with Canadian securities regulators, and assumptions made with regard to: the
Company’s ability to complete the proposed Arrangement on the terms and conditions contemplated, or at all; the
Companies' ability to secure the necessary shareholder, Court and regulatory approvals required to complete the
Arrangement; the estimated costs associated with the Arrangement; the timing of the Meeting, the Final Order
hearing and the Arrangement ; and that market fundamentals will result in sustained precious and base metals
demand and prices, the receipt of any necessary permits, licenses and regulatory approva ls in connection with the
future exploration of the Company's properties, that the COVID-19 global pandemic will not affect the ability of the
Company to conduct the exploration program on the Project, the availability of financing on suitable terms, and
the Company's ability to comply with environmental, health and safety laws . Forward -looking statements are
subject to business and economic risks and uncertainties and other factors that could cause actual results of
operations to differ materially from tho se contained in the forward -looking statements. Important factors that
could cause actual results to differ materially from the Company expectations include risks associated with the
business of the Company; risks related to the satisfaction or waiver of c ertain conditions to the closing of the
Arrangement; non -completion of the Arrangement; risks related to the Company failing to obtain the requisite
shareholder approval required for the Arrangement; risks relating the number of dissenting shareholders requiring
fair value for their securities in connection with the Arrangement; risks related to exploration and potential
development of the Company ’s projects including the Company's option to acquire the Project, the proposed
expenditures for exploration wor k thereon, the ability of the Company to obtain sufficient financing to fund its
business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX
Venture Exchange), permits or financing, changes in laws, regula tions and policies affecting mining operations,
risks relating to epidemics or pandemics such as COVID –19, including the impact of COVID –19 on the Company's
business, financial condition and results of operations, currency and commodity fluctuations, title disputes or
claims, environmental issues and liabilities , the need for cooperation of government agencies and indigenous
groups in the issuance of required permits; the need to obtain additional financing to develop properties , and
uncertainty as to the availability and terms of future financing; and other risk factors as detailed from time to time
and additional risks identified in the Company filings with Canadian securities regulators on SEDAR in Canada
(available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management
at the date the statements are made. The Company does not undertake any obligation to update forward -looking
statements except as required by applicable securities laws. Investors should not place un due reliance on forward-
looking statements.