Mr. Doug Fulcher reports

CENTENARIO ANNOUNCES INITIAL WORK STARTING AT THE LOS REYES COPPER GOLD PROJECT IN CHIHUAHUA, MEXICO

Centenario Gold Corp. has initiated the first-phase work program on the Los Reyes project, a highly prospective copper and gold exploration asset located near the city of Chihuahua, Mexico. This first stage of work will include detailed mapping and sampling of the old underground mine workings found along a north-south-trending contact zone that extends for one kilometre. The Los Reyes underground mine workings date back to the early 1900s and have never been systematically sampled.

Following the initial underground mapping and sampling program, the company will begin the second-phase work program, which consists of a 1,500-metre diamond drilling program at Los Reyes. The drilling program is designed to test the greater-than-100-metre depth extensions of the high-grade copper-zinc-silver skarn zone that Asarco (a large historic U.S. mining company) previously mined at Los Reyes. The company has submitted the environmental study report and expects permits to be received by late April, 2026. Drilling is expected to commence right after.

About the Los Reyes property

Los Reyes is a copper-zinc-gold skarn (CRD, or carbon replacement deposit) mineral project located off Highway 49, approximately 170 kilometres south-southeast of the city of Chihuahua. The property covers an important area of historical mining centred along the western contact of a large, two-kilometre-diameter granodiorite intrusive body. Historical mining activities date back to the early 1700s. In the late 1800s, Asarco mined approximately 200,000 tons of high-grade copper-zinc-silver material at one of the old mine workings, known as Jibosa.

The most recent exploration work was completed by Valterra Resource Corp. in 2019. The work was conducted along an 800-metre north-south strike (intrusive-carbonaceous sediments contact) covering the copper-gold skarn (CRD) zone outcropping along the eastern edge between the Tertiary-age granodiorite intrusive and the Cretaceous-age limestones and shales. The exploration target is over 100 metres in width and hosts multiple zones of strongly copper-enriched mineralization.

In a press release dated Dec. 2, 2019, Valterra Resource reported results of the surface sampling collected from waste dumps and some limited outcrop chip samples at Los Reyes. The average copper grade was 3.1 per cent and 22 of 28 samples had values greater than 1 per cent copper. The more anomalous samples also contained elevated precious and base metal values, reaching up to 0.57 gram per tonne gold, 25.3 grams per tonne silver, 0.47 per cent molybdenum and 1.7 per cent zinc.

Qualified person

Derrick Strickland is an independent 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.

About Centenario Gold Corp.

Centenario Gold 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 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.

We seek Safe Harbor.