Centurion Announces Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2016) - Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") announces its intention to complete a non-brokered private placement for $350,000 priced at $.05/Unit. Each Unit consists of one common share and one 2 year common share purchase warrant. Each warrant will be exercisable for one common share at $0.10 for the first year and at $0.15 for the second year following the closing. Closing will be subject to TSX Venture Exchange approval. Proceeds from this financing shall be used to complete a geological model and initial resource estimation work on its Argentinean agricultural gypsum project and for general corporate purposes.
The Ana Sofia project comprises two mining concessions totaling 50 hectares (ha) in size within a larger (approximately 500 ha) exploration permit area. Trenching and test pit sampling work completed by joint venture partner Demetra Minerals Inc. in 2014 and 2015, identified multiple, high grade, near surface gypsum layers. A successful field program has recently been completed and the data generated by this program will be released upon receipt. Pictures of the test-pit and trenching program can be viewed on the company's website www.centurionminerals.com.
Small scale producers located in the vicinity are currently extracting agricultural gypsum and selling to fertilizer distributors and farmers. Agricultural gypsum is a valuable plant nutrient and plays a vital role in maintaining soil structure and nutrient balance in South American soils, allowing greater crop yields.
On February 29th 2016, the Company announced completion of a "first tranche" private placement and issued 2,700,000 Units priced at $0.10 for total gross proceeds of $270,000. The company will not be proceeding to complete a "second tranche" of this financing.
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the exploration and development of gold and agri-mineral 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:
David Tafel
President and CEO
604-484-2161
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.
