File: '\\swfile\EmailIn\20251111 111957 Attachment CENTENARIO - News Release Providing Update on Cabot Option Deal and Consolidation Financing (November 2025).docx'

Suite 615 - 800 West Pender Street, Vancouver, B. C. Canada, V6C 2V6

TSX-V: CTG | www.centenariogold.com

LEGAL\81387855\2

NEWS RELEASE

CENTENARIO PROVIDES UPDATE ON CABOT PROJECT ACQUISITION

November 12th, 2025, Vancouver, BC - Centenario Gold Corp. (TSXV: CTG) ("Centenario" or the "Company") announces that it continues to work diligently with PNL Ventures Limited ("PNL") towards the execution of a definitive option agreement (the "Definitive Agreement") for the acquisition of a 100% interest in the Cabot Mineral Project (the "Cabot Project"), a prospective copper, gold and cobalt exploration asset in Newfoundland's Baie Verte Peninsula, a region with a long history of mining success and ongoing development as further outlined in the non-binding Letter of Intent dated October 10, 2025 (the "LOI").

In connection with the ongoing negotiations, the Company advises that the Definitive Agreement will include a provision limiting the issuance of common shares under the option payment schedule such that no issuance will result in the recipients (including any affiliates thereof) beneficially owning more than 9.99% of the Company's issued and outstanding common shares immediately following such issuance.

For more information on the Cabot Project, LOI or transaction, please see the Company's news release dated October 14, 2025, filed under Centenario's profile on SEDAR+.

About Centenario Gold Corp.:

Centenario Gold Corp. is a mineral exploration company incorporated in British Columbia and headquartered in Vancouver, Canada. The Company is focused on the acquisition, exploration, and development of high-potential mineral projects in the Americas, with a primary emphasis on gold, copper and silver.

The Company is committed to responsible exploration and development, working closely with local communities and stakeholders. Centenario's management team brings extensive experience in mineral exploration, project development, and capital markets.

Centenario Gold Corp. is listed on the TSX Venture Exchange and continues to evaluate new opportunities to expand its portfolio in both Mexico and Canada and deliver value to shareholders.

On behalf of the Board of Directors,

Doug Fulcher

President, CEO, Director

For further information, please call:

Doug Fulcher 604-803-5901

www.centenariogold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward Looking Statements:

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled", or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All statements in this news release that are not purely historical are forward-looking statements and include, without limitation, statements regarding the Company's plans, expectations, and objectives for the Cabot Project and other mineral properties; the anticipated benefits and timing of the proposed Definitive Agreement and Consolidation; the Company's exploration plans and objectives; the potential for mineralization at the Cabot Project; the timing and completion of required regulatory approvals; and other future events or developments. Forward-looking statements are based on the reasonable assumptions, estimates, expectations, analyses and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made. Material assumptions include, but are not limited to: the ability to obtain necessary regulatory approvals; the availability of financing and personnel; the accuracy of historical information and technical data; and that market fundamentals will support the business and exploration plans of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those anticipated in such statements. These risks and uncertainties include, but are not limited to: risks related to mineral exploration and development; the possibility that future exploration results will not be consistent with the Company's expectations; risks related to the ability to obtain necessary regulatory approvals; changes in commodity prices and market conditions; risks related to operating in foreign jurisdictions; environmental and permitting risks; and other risks described in the Company's public disclosure documents filed on SEDAR+ at www.sedarplus.ca. Additional factors that may affect future results include general economic, market or business conditions, changes in financial markets, inflationary pressures, fluctuations in interest rates, ongoing labour shortages, and geopolitical events such as the conflicts in Ukraine and Palestine. The Company cautions that the impacts of these factors are currently difficult to predict and may materially affect the Company's operating performance, financial position, and future prospects. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as required by applicable law.