File: '\\swfile\EmailIn\20250501 155458 Attachment News Release May 1st - Management Cease Trade Order.docx'

Suite 615 - 800 West Pender Street, Vancouver, B. C. Canada, V6C 2V6 Tel: 604-684-0279

TSX-V: CTG | www.centenariogold.com

NEWS RELEASE

Centenario Announces Issuance of Management Cease Trade Order

Vancouver, BC - May 1st, 2025,- Centenario Gold Corp. (TSXV: CTG) ("Centenario" or the "Company") announces that it was unable to meet the April 30, 2025 deadline to file its Audited Annual Financial Statements, Management's Discussion and Analysis, and related CEO and CFO certificates for the fiscal year ended December 31, 2024 (collectively, the "Annual Filings"), as required under applicable Canadian securities laws.

In connection with the Company's inability to file the Annual Filings on time, the Company applied, and received approval, for a Management Cease Trade Order (the "MCTO") from the British Columbia Securities Commission under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The Company will have until June 30, 2025 to file its Annual Filings.

The Company's delay in filing the Annual Filings on time was due to lack of funds to pay its auditor to perform the Company's year-end audit. As a result, the Company requires additional time to complete its previously announced financing, to conduct the audit and file the Annual Filings. The Company expects to complete and file the Annual Filings by no later than June 30, 2025. The Company will issue a news release once the Annual Filings have been filed.

The Company intends to satisfy the provisions of the alternative information guidelines of NP 12-203 by issuing bi-weekly default status reports, in the form of news releases, until the revocation of the MCTO. The Company is not subject to any insolvency proceedings. The MCTO will prohibit the Chief Executive Officer and the Chief Financial Officer of the Company from trading in securities of the Company for so long as the Annual Filings are not filed and the MCTO revoked. The issuance of the MCTO does not affect the ability of persons other than the Chief Executive Officer and the Chief Financial Officer of the Company to trade in the Company's securities.

The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Centenario Gold Corp.:

Centenario Gold Corp. is a mineral resource exploration company that was formed to focus on exploring and generating high quality mineral prospects. The Eden gold silver property was acquired in 2022 and is located at the boundary between Durango and Sinaloa states, of Mexico, in the Cosala Mining District which hosts Prime Mining's Los Reyes Project.

The Company is also currently looking at other potential prospects in both Mexico and Canada.

On behalf of the Board of Directors,

Doug Fulcher

President, CEO, Director

Further information on the Centenario Gold can be found on our website at www.centenariogold.com

For further information, please call:

Doug Fulcher 604-803-5901

www.centenariogold.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding the anticipated financing, completion of its annual audit and its filing of financial statements on or before June 30, 2025. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.