Mr. Doug Fulcher reports

CENTENARIO GOLD PROVIDES UPDATE ON THE EDEN PROPERTY DRILL PROGRAM AND CLOSING OF A PRIVATE PLACEMENT FINANCING

Centenario Gold Corp. has provided an update on the progress on its maiden drill program on the Eden property near Cosala, Sinaloa state, Mexico, and the closing of a non-brokered private placement financing.

The company completed five holes prior to shutting down for the Christmas holiday season for a total of approximately 700 metres. Three of the five holes completed have been logged and sampled and 210 samples have been shipped to the ALS lab in Hermosillo, Mexico.

Drilling restarted on Jan. 6, 2024. Results from the first three holes are expected to be released prior to the end of January. All holes on this initial phase of the program target the strike and downdip extensions of the central portion of the Buenavista mineralized structure.

Closing of a private placement financing

The company also announces that it has closed a non-brokered private placement financing for a total $50,000 through the issuance of 333,333 units at a price of 15 cents per unit. Each unit comprised one common share in the capital of the company and one-half of one common share purchase warrant, whereby each whole warrant is exercisable at 30 cents per warrant share for a period of two years from the date of issuance.

The private placement has been approved by the TSX Venture Exchange, and all securities issued are subject to a four-month hold period expiring on May 12, 2024. No Finder's fees were paid in connection with the private placement. Proceeds from this private placement will be used for exploration of the Eden project and general working capital.

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. 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 Corp.'s Los Reyes property.

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