Centenario Gold Corp. Announces Strategic Acquisition of Cabot Mineral Project in Newfoundland

Centenario Gold Corp. has entered into a non-binding letter of intent to acquire a 100% interest in the Cabot Mineral Project, a prospective copper, gold and cobalt exploration asset located in Newfoundland's Baie Verte Peninsula. The acquisition represents a strategic expansion into a proven mining district with established infrastructure and ongoing development activity. The Cabot Project features two distinct mineralized zones covering over 48 square kilometres, with the Cabot Copper Zone demonstrating significant potential through sampling returning grades of up to 7% copper.

Geophysics and soil surveys have identified five drill-ready targets, four of which remain untested, providing substantial exploration upside. The project's strategic positioning just 15 kilometers from Firefly Metals' Ming Copper-Gold Mine enhances its development potential within a region known for significant mineral resources. Additional information about the regional context can be found at https://www.newmediawire.com. Separately, the Marble Cove Gold Prospect has shown exceptional gold potential with historic sampling returning values up to 70.38 grams per tonne gold.

This gold-bearing area lies approximately 4 kilometers west and along strike from Maritime Resources Corp.'s Point Rousse Gold Project, which has produced over 200,000 ounces of gold across three major mineralized trends extending 3 to 8 kilometers. Doug Fulcher, President and CEO of Centenario Gold, stated that the project aligns with the company's exploration strategy focusing on untested, high-potential targets in established mining jurisdictions. The company recognizes the opportunity to evaluate and potentially expand copper-gold mineralization, particularly given current trends in copper demand and gold prices.

Concurrent with the acquisition announcement, Centenario revealed plans for a share consolidation that would reduce outstanding shares from approximately 41.8 million to 4.18 million through a maximum 10:1 rollback. The company's board believes this consolidation will enhance trading liquidity and improve the ability to raise additional capital for operations. The company also announced a non-brokered private placement of up to $1.5 million, consisting of 15 million units at $0.10 per unit, with each unit including one common share and one-half warrant exercisable at $0.15 for 24 months.

Proceeds from the financing will be used for exploration and evaluation of potential new resource projects, including general administrative expenses. The transaction terms outlined in the letter of intent require Centenario to make cash payments, issue post-consolidation common shares, and incur exploration expenditures according to a specified schedule. Upon exercising the option, Centenario will grant PNL Ventures a 3.0% net smelter return royalty on all metals produced from the project, payable after commercial production begins. All proposed securities issuances are subject to approval by the TSX Venture Exchange, and the company has indicated that no finder's fees are anticipated in connection with the transaction. The definitive agreement is expected to be finalized by October 31, 2025, marking a significant step in Centenario's expansion within Newfoundland's rapidly developing mining district.