|December 21, 2009|
Centurion Executes Agreements To Acquire Three Gold Properties Adjacent To East Asia's Miwah Gold Project In Northern Sumatra, Indonesia
|Vancouver, B.C., December 21, 2009. Centurion Minerals Ltd. (CTN: TSX-V) ("Centurion" or "the Company") is pleased to announce that it has executed a Memorandum of Understanding ("MOU") with PT Sigma Mineral Exploration ("Sigma"), a privately held Indonesian company, to acquire an 85% interest in three properties, each of which holds a KP exploration claim and all of which are located in the Aceh Tengah Regency in Northern Sumatra, Indonesia.|
All three project claim areas are approximately 10,000 hectares in size and are located directly to the south of the Miwah epithermal gold project held by East Asia Minerals Corporation (EAS:TSX-V). The Projects have been subject to historical exploration where the previous operator (which also made the Miwah discovery) identified the presence of large epithermal gold systems within the claim areas. The company is currently reviewing the historical data and is working with the mining authorities to convert the registered KP claims to mining licenses (IUP's) issued under new Indonesian Mining laws.
Pursuant to the agreements Centurion shall manage all exploration activities, be responsible for license issuance costs and 100% of exploration expenditures and related costs through to feasibility study. Upon receipt of IUP mining claim licenses, completion of definitive agreements and regulatory approvals, Centurion intends to commence an active exploration program on the three projects.
Alfred Lenarciak, Centurion chairman has just completed discussions with the local authorities of Aceh Tengah Regency. They have expressed being pleased with the Company's initiatives to commence exploration on the most promising mineral prospects in the area.
According to the East Asia website, "The Miwah Property is in a very similar volcanic setting to the Martabe gold-silver deposit, also located in North Sumatra. To date, East Asia has drilled more than 900 metres strike length along the shallow, laterally extensive 1.2 kilometre long Main Miwah Gold Zone in Aceh Province, Northern Sumatra, and has encountered wide intercepts of gold mineralization in all holes drilled and the Main Miwah Gold Zone is open in all directions." East Asia also recently reported that "diamond drilling has encountered gold mineralization adjacent to the previously outlined Main Miwah Gold Zone, opening the potential to expand the zone considerably. Hole EMD014, drilled north of the mineralized strike, encountered 1.38 g/t gold over 101 metres, including 1.95 g/t gold over 58 metres."
Sable Project Update
Further to the Company's news release of September 16, 2009, Company Chairman Alfred Lenarciak, and Ahmad Yani, President of PT Mas Tambang Sable have recently met with the Department of Mines and the regional mining authorities in Indonesia as part of the COW reactivation process. Mr. Lenarciak indicated that the reactivation process is proceeding to the satisfaction of the Company and the Indonesian Authorities and is nearing completion. The Sable project is approximately 23,500 hectares in size and is located approximately 15 kilometres west of East Asia's Miwah epithermal gold project.
QUALIFIED PERSON STATEMENT
The content of this release has been read and approved by Jamie Lavigne, P. Geo and Qualified Person for the Company as defined in National Instrument 43-101.
Centurion is a Canadian-based company focused on the procurement, exploration and development of gold and other precious metal projects.
On Behalf of the Board,
"David G. Tafel"
President and CEO
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.
For Further Information Contact:
President and CEO
This news release may contain forward looking statements concerning future operations of Centurion Minerals Ltd. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.
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