Centenera Announces Brokered Private Placement for Proceeds of up to $2 Million
LC076024-1
NR-17-09 31 July 2017
Centenera Announces Brokered Private Placement
for Proceeds of up to $2 Million
Vancouver, British Columbia - Centenera Mining Corporation ("Centenera" or the "Company") - (TSXV: CT, OTCQB: CTMIF),
announces that it has engaged Dominick Inc. as the lead agent (the " Lead Agent ") in connection with a proposed
reasonable "best effort s" basis brokered private placement for gross proceeds of up to $2 million (the " Offering"). The
Offering will consist of the sale of up to 12.5 million common shares ( each, a "Share") in the capital of the Company at a
deemed price of $0.16 per Share pursuant to applicable prospectus and registration exemptions and in Canada will hav e a
hold period of four months and one day from the closing of the Offering.
In consideration for its services, the Lead Agent will receive a corporate finance fee consisting of a cash payment equal to
2% of the gross proceeds of the Offering and non -transferable broker warrants (the " Broker Warrants") equal to 2% of the
total number of Shares issued by the Company under the Offering. Each Broker Warrant will be exercisable for 30 months
following the closing of the Offering to acquire one Share a t the issue price of $0.16 per Share. In addition, the Lead Agent
will receive a sales commission comprised of a cash payment equal to 5% of the gross proceeds of the Offering and Broker
Warrants equal to 5% of the total number of Shares issued by the Com pany under the Offering. Closing of the Offering is
anticipated on or around August 21, 2017.
The net proceeds from the Offering will be used for exploration of the Company's mineral properties and for general
working capital. The Company is focused in its Huachi copper-gold porphyry p roject (“Huachi”) located in San Juan
Province, Argentina. In connection with acquisition of the project in January 2017, Centenera commissioned a 43 -101
technical report which is available for download at the Company’s home page together with a corporate presentation. The
43-101 report confirmed the results from a previous drill program conducted in 2007. The copper-gold porphyry deposit
has been tested with a total of 7 diamond drill holes (totalling 2,011 meters), the results of which can be found in the NI 43-
101 report. Highlights include:
• All drill holes targeting porphyry style mineralization intersected copper-gold mineralization.
• Best intersection to date is 353.1m1 from surface, grading 0.35% copper and 0.18g/t gold (0.49% copper
equivalent2), including 243.1m1 grading 0.40% copper and 0.21g/t gold (0.57% copper equivalent2).
• Mineralization is outcropping at surface (pyrite halo 1,400m x 850m) and drill holes generally intersected
mineralization at surface.
• Mineralization is open in all directions.
• Majority of drill holes terminated in mineralization (due to limitations of the drill rig) and are open at depth.
• Several drill holes demonstrate increasing grade with depth.
Notes: 1 True width is not known. 2.Copper equivalent = Copper grade % x (0.795 x gold grade g/t), where the conversion factor of 0.795 is
calculated by comparing the value of 1 tonne of copper ore (at copper prices of $2.20/lb ($4,850.16/t)) to the value of 1 tonne of gold ore
(at $1,200/oz ($38.58g/t)) and assuming 100% recovery.
Centenera Mining Corporation 2 31 July 2017
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In recent weeks, the Company completed a ground magnetic survey covering part of the project area and surface rock
sampling in areas w here sampling had not previously b een completed. The results, when available, will be used to finalize
drill targets at Huachi. The Company has applied for drill permits and the Company's exploration manager is working to
finalize same.
The objective of future drilling will be to investigate the tonnage potential at Huachi . The planned drill holes are expected
to step out at least 100m from previous drill holes. Since previous drill holes are open at depth, planned holes will aim to
reach 500m to 600m in total drill length.
San Juan is a Province of Argentina which is known to be supportiv e of mining with several large mines currently in
operation. Access to infrastructure is critically important and impacts the feasibility of bulk -tonnage porphyry -style
projects. Huachi is close to ex isting infrastructure, being only 35km from the electrical transmission lines that service
Yamana’s Gualcamayo Mine and with planned road upgrades, it will be possible to access the project by road throughout
the year. Huachi is located at low elevations of between 2,800m and 3,250m above sea level , which is low relative to
projects in the high Andes at greater than 4,500m.
About Centenera Mining Corporation
Centenera is a mineral resource company trading on the TSX Venture Exchange (“ TSXV”), under the symbol CT and on the
OTCQB exchange under the symbol CTMIF. The Company is focused 100% on mineral resource assets in Argentina. In 2017
the Company's strategy is to focus on the Huachi project (see news releases dated January 23 and March 6, 2017). The
Company intends to focus its Q3/Q4 efforts on drill-testing.
Other assets, such as the El Quemado project in Salta Province (see news release dated April 26, 2017) are intended to be
explored by the Company with the aim of proving project potential and attracting a joint venture partner or a project sale.
The Company intends to seek a joint venture partner for the Organullo gold project, which has approximately 8,000 meters
of historical drilling and assay results. The Or ganullo project has a geological target range from 19.8 million tonnes grading
at 0.94 g/t gold (600,000 ounces) to 31.6 million tonnes grading at 0.92 g/t gold (940,000 ounces) using a 0.5 g/t gold cut -
off-grade. It should be noted that these potential e xploration target quantities and grades are conceptual in nature, that
insufficient exploration and geological modelling has been completed to define a mineral resource, and that it is uncertain if
further exploration will result in the delineation of a mineral resource.
For more information on the Company's board of directors, management and assets, please refer to the Company's website
at www.centeneramining.com.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
"Keith Henderson"
President & CEO
For further details on the Company readers are referred to the Company's website ( www.centeneramining.com) and its
Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Phone: +1-604-638-3456
E-mail: [email protected]
Centenera Mining Corporation 3 31 July 2017
NR 17-09 Continued
LC076024-1
Cautionary Statements:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX V) accepts responsibility for the adequacy or accuracy
of this press release, which has been prepared by management.
Except for the statements of historical fact contained herein, the information presented in this news release and the informa tion incorporated by
reference herein, constitutes “forward looking information” within the meaning of applicable Canadian securiti es laws concerning the business,
operations and financial performance and condition of the Company . All statements, other than statements of historical fact, included herein
including, without limitation, statements regarding the use of proceeds from the Offering, the anticipated content, commencement, and cost of
exploration programs in respect of the Huachi project, El Quemado p roject and Organullo project ( the " Projects") and otherwise, anticipated
exploration program results from exploration activitie s, the Company’s expectation that it will be able to enter into a joint venture or a project sale
agreements in respect of the El Quemado p roject or the Organullo p roject, the discovery and delineation of mineral deposits/resources/reserves on
the Project s, and the anticipated business plans and timing of future activities of the Company, are forward -looking statements. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always,
forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “s cheduled”, “estimates”,
“forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to
certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking info rmation involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially
from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include,
among others, the ability of the Company to obtain sufficient financing through the Offering, operating and technical difficulties in connection with
mineral exploration and development and mine development activities for the Projects (and the Company's projects generally) including the geological
mapping, prospecting and sampling programs for the Company's projects, actual results of exploration activities, including the p rogram, estimation or
realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital
expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and o ther materials,
requirements for add itional capital, future prices of precious metals, tantalum and lithium, changes in general economic conditions, changes in t he
financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possib le failures of plants,
equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays i n obtaining governmental
approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting
mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and t he timing and possible
outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of
acquisitions, as well as those factors discussed under the heading . “Risk Factors” in the Company’s most recent Management Information Circular and
as discussed in the annual management’s discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of
which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautio ned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the
forward looking information in this news release or incorporated by reference herein, except as otherwise required by law.
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