Central Signs Definitive Amalgamation Agreement with Canadian Uranium and Consolidates its Shares

Vancouver, July 24, 2014 - Central Resources Corp., (TSX-V:CBC) ("Central" or the "Company") is pleased to announce, further to its press release of June 10, 2014, that it has entered into a definitive amalgamation agreement dated as of July 22, 2014 (the "Amalgamation Agreement") pursuant to which Central will acquire all of the issued and outstanding securities of Canadian Uranium Corp. ("CANU"), a private British Columbia mining exploration company.

The transaction will be carried out by way of a three-cornered amalgamation whereby CANU will amalgamate with 1008394 B.C. Ltd., a wholly-owned subsidiary of Central, to form a new entity to be named Uranium Standard Resources Ltd. or other such similar name. Completion of the transaction is subject to customary conditions as well as other conditions, including the completion of a consolidation of the common shares of Central (the "CBC Shares").


Consolidation

Effective prior to market open on July 25, 2014, Central will consolidate its shares (the "Consolidation") on a basis of three existing shares for one new share, resulting in 5,039,000 CBC Shares issued and outstanding based on the 15,117,000 CBC Shares issued and outstanding immediately prior to the Consolidation.

The post -- Consolidation CBC Shares will commence trading on the TSX Venture Exchange on July 25, 2014 under the same stock symbol. The new CUSIP number will be 15505Q308 and the new ISIN number will be CA15505Q3089. The Company's name remains unchanged following the Consolidation.


About Canadian Uranium

Canadian Uranium Corp. is a privately-held natural resource company engaged in the acquisition, development and operations of mineral properties, with a principal focus on uranium. It has acquired options on several highly prospective mineral properties, including the Whitford Lake Property in Saskatchewan.


About Central Resources

Central Resources Corp. is a junior exploration company created to leverage the extensive knowledge and experience of a dedicated group of financial and resource industry professionals. The Company continues to pursue additional opportunities to build shareholder value.



Contact:

Central Resources Corp.
Paul Reynolds, President and CEO
Tel: 604 630 3731
Email: info@centralres.ca
Website: www.centralres.ca



The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither 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.

This news release contains forward-looking information, including, but not limited to, the closing of the proposed transaction, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. In particular, in making these statements, the Company has assumed, among other things, that the proposed transaction will receive the required regulatory and other approvals and that the other conditions to the proposed transaction can be satisfied in accordance with their terms. Other important factors - including the availability of funds, the results of financing efforts, the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.