Centurion Announces Conditional Acceptance of CASA Berardi WEST GOLD Project Transaction; Resumption of Trading
NEWS RELEASE
CENTURION ANNOUNCES CONDITIONAL ACCEPTANCE OF CASA BERARDI WEST GOLD
PROJECT TRANSACTION; RESUMPTION OF TRADING
Vancouver, B.C. – September 20, 2022 – Centurion Minerals Ltd. (TSX -V: CTN) (the “ Company” or
“Centurion”) is pleased to announce that, further to its news release dated August 8, 2022, the TSX
Venture Exchange (the “TSX -V”) has conditionally accepted the previously announced Option
Agreement that provides Centurion with the right to earn a 100% interest in the Casa Berardi West Gold
Project (the “ Project”). The Project is located in the prolific gold -producing, Harricana-Turgeon
greenstone belt of the central Abitibi Subprovince of north-eastern Ontario. A NI 43-101 technical report
entitled " NI 43 -101 Independent Technical Rep ort on the Casa Berardi West Properties, Cochrane,
Ontario" having an effective date of June 30, 2022 has now been filed on SEDAR under Centurion's
profile and can be viewed on Centurion’s website.
PROJECT 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) gold and the highest returning 38,000 ppb
(38g/t) gold1;
2) The Project is situated along structural corridors hosting world class discoveries, operating
mines, and significant past-producing operations;
3) Nearby, historical production from Normetal Mines and the recent (Perron) gold discovery by
Amex Exploration which returned 15.5 g/t gold over 15.8 meters within 12 kilometers of the
Project (Amex NR-June 16-2022);
4) 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
5) Excellent access and infrastructure.
RESUMPTION OF TRADING:
Centurion has received notification from the TSX -V that trading will resume on September 23, 2022 .
Additionally, following a resumption of trading, it is the Company’s inte ntion to complete a shares for
debt transaction related to select current liabilities and to conduct a private placement financing of
common shares for gross proceeds of up to $1,000,000. The timing and pricing of these transactions will
be announced in a later news release once confirmed. T he Company intends to use the net proceeds
from the financing for further exploration of the Project and general working capital.
David Tafel, CEO of the Company commented: “ Subject to final TSX -V approval w e will have the right
to earn a 100% interest in a Project that is located within a region of current and historical gold and
polymetallic production and in close proximity to ve ry recent discoveries. As Centurion moves to a
Suite 520 - 470 Granville Street
Vancouver, BC Canada V6C 1V5
Tel: (604) 484-2161
Fax: (604) 683-8544
www.centurionminerals.com
resumption of trading and we progress to completing this transaction, we believe this Project has the
potential to provide shareholders with an excellent opportunity for value creation.”
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 , strategically located northeast of Cochrane , Ont ario, in the
metal endowed central north Abitibi greenstone belt (Figure 1).
Figure 1. Regional location of the Casa Berardi West claim groups.
Figure 2. Geology, deposits and structural environment of the Casa Berardi West claim groups.
Transaction Summary
The Option Agreement enables Centurion to acquire a 100% interest in the 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.
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 Ber ardi Mine, Northwestern Quebec, Canada authored by
Jonathan Archambault-Giroux, P.Geo, Effective date December 31, 2018.
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
This release includes certain statements and information that may constitute forward -looking
information within the meaning of applicable Canadian securities law s. Forward -looking statements
relate to future events or future performance and reflect the exp ectations or beliefs of management of
the Company regarding future events. Generally, forward -looking statements and information can be
identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “should”,
“would” or “occur”. This information and these statements, referred to h erein as "f orward‐looking
statements", are not historical facts, are made as of the date of thi s news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements as
to management's expectations and intentions with respect to, among other things , the timing of
resumption of trading of the Company’s common shares on the TSX Venture Exchange ; the completion
and timing of the proposed shares for debt transaction ; the timing, terms and completion of the
proposed private placement for gross proceeds of up to $1,000,000; the expected use of proceeds from
the financing; the Company’s undertaking of initial exploration on the Pro ject; and the Company’s
intention to exercise its option to purchase a 100% interest in the Project.
These forward‐looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward -looking statements. These risks and
uncertainties include, among other things, that the Company’s common shares will not resume trading
on th e anticipated date; that the Company will not obtain the requisite approvals to complete the
proposed shares for debt transaction or the proposed private placement; the inability of the Company
to raise capital on acceptable terms, or at all; unanticipated costs; adverse changes in legislation; that
the Company will not undertake initial exploration on the Project within the timeframe anticipated or
at all; market unc ertainty; that the Company's op erations, business, personnel or financial condition is
adversely impacted by COVID -19 or the ongoing conflict in Eastern Europe; and the risk that Company
is not able to exercise its option to purchase a 100% interest in the Project.
In making the forwa rd looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that its common shares will resume trading on the
anticipated date; that the Company will receive all requisite approvals to complete the proposed shares
for debt transaction and the proposed private placement; that the Company will be able to raise capital
on acceptable terms; that the Company will undertake exploration on the Project, as anticipated; that
the Company will retain the key personnel required to complete its business objectives; that there will
be no adverse changes in legislation; and that the Company will have the resources required to exercise
its option to acquire the Project.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward -looking statements or forward -
looking information, there may be other factors that c ause results not to be as anticipated, esti mated
or intended. There can be no assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward -looking statements and forward -looking
information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward -looking statement or forward-
looking information disclosed herein, except in accordance with applicable laws.