Mr. Doug Fulcher reports

CENTENARIO GOLD INITIATES THE FIRST DRILL PROGRAM ON THE EDEN PROJECT

Centenario Gold Corp. has moved a drill crew to its Eden project near Cosala, Sinaloa state, Mexico. This first-phase drill program will be testing the strike and down-dip extensions of Eden's Buenavista vein-breccia mineralized corridor east-northesat and south-southwest of the old mine workings area.

This maiden drill program will consist of 10 to 12 HQ core holes totalling approximately 1,500 metres. This portion of the Buenavista vein-breccia structure was sampled at surface and underground during the last sampling program, and returned a number of high-grade gold and silver intervals with assays as high as 239.9 grams per tonne (g/t) gold (Au) and 1,390 g/t silver (Ag). Most of the underground channel rock samples taken in level 1 (collected every 10 metres along the entire approximately 100-metre-long adit), and levels 2 and 3, have returned high-grade Au and Ag results.

Drill pads are located along a north-northeast-trending line on the east-southeast side of the Buenavista underground mine workings. The holes are designed to test the down-dip extension of the vein-breccia structures along a 400-metre-long portion of the Buenavista corridor. Drill pads and access to the drill pads are all completed. The Mexican mining authorities have approved the drilling permit, and local community permits and agreements are in good standing.

This initial phase of drilling is anticipated to last approximately 30 days, with crews staying in the small town of Tasajeras, located approximately 30 kilometres from the project area. All logging and sampling will be done at the company's base camp in Tasajeras. Samples will be sent to the ALS-Chemex Lab in Hermosillo, Sonora, Mexico.

About Centenario Gold Corp.

Centenario Gold is a natural resource exploration company that was formed to focus on exploring and generating high-quality mineral prospects in Mexico. During 2020, the exploration team of Centenario visited and evaluated more than 12 mineral prospects before finding the Eden gold-silver property located in Durango state of Mexico. On March 24, 2021, after completing the preliminary evaluation work and due diligence review, Durango Gold Corp. SA de CV, the 100-per-cent-owned Mexican subsidiary of Centenario Gold, signed a four-year option agreement to acquire 100 per cent of the mineral rights to the Eden Au-Ag property, subject to a 1-per-cent net smelter return (NSR). The Eden project consists of three adjoining mineral concessions totalling 5,689 hectares in size, hosting a series of high-grade north- to northeast-trending, epithermal Au-Ag vein structures. The Eden property's northern border is adjacent to Americas Gold & Silver's Nuestra Senora producing mine, while the Eden property's southern border is adjacent to Prime Mining's Los Reyes property's northern border.

Qualified person

Derrick Strikland, PGeo (1000315), is the qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical disclosure contained in this release.

Reader caution: The qualified person has not verified the information on the adjacent properties, nor mineralization found on adjacent and/or geologically similar properties, which is not necessarily indicative of mineralization found on the property.

We seek Safe Harbor.