File: '\\swfile\EmailIn\20250515 103802 Attachment News Release May 2025 MCTO Bi Weekly.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 Gold Provides Bi-Weekly MCTO Status Update

May 15, 2025, Vancouver, BC - Centenario Gold Corp. (TSXV: CTG) ("Centenario" or the "Company") is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").

On May 1, 2025, the Company announced (the "Default Announcement") that it made an application to the British Columbia Securities Commission (the "BCSC") to approve a temporary management cease trade order ("MCTO") on the basis that it would be unable to file its annual consolidated financial statements, accompanying management's discussion and analysis and related CEO and CFO certifications, for the year ended December 31, 2024 (the "Annual Filings") within the extended deadline for filing the same under British Columbia Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515"). The application was approved by the BCSC on April 30, 2025 and the MCTO was issued by the BCSC on May 1, 2025. The MCTO prohibits the Chief Executive Officer and Chief Financial Officer of the Company to trade the Company's securities.

The Company confirms that there have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12-203.

The Company anticipates that the Annual Filings will be filed on or before June 30, 2025. The Company will continue to provide bi-weekly ("every two weeks") updates, as required by NP 12-203, until the Annual Filings have been filed. The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in Sections 9 and 10 of NP 12-203 so long as it remains in default of the requirement to file the Annual Filings.

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 in Mexico and Canada.

On behalf of the Board of Directors,

Doug Fulcher

President, Director

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 copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. 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. Such assumptions may include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. 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. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. 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.