October 24, 2018
Vancouver, B.C., October 24, 2018.
CENTURION MINERALS LTD. (CTN: TSX-V) ("Centurion" or the "Company") announces that its previously announced non-brokered private placement for up to $275,000 priced at $.02/Unit, has been oversubscribed and has been increased to up to $320,000. Each Unit consists of one common share and one common share purchase warrant exercisable for 2 years and priced at $.05.
The Company contemplates that various exemptions will be utilized pursuant to this financing. It may rely upon the suitability advice exemption (B.C. Instrument 45-536) as well as the existing shareholder exemption (CSA notice 45-313) which allows for an investment of up to $15,000 within any 12-month period. There is no material fact or material change that has not been generally disclosed. Closing will be subject to TSX Venture Exchange approval and any shares issued will be subject to a four-month hold period.
Proceeds from this financing shall be used by the Company as follows:
Audit fees - $51,000; legal fees- $15,000; accounting- $10,000; operating capital-Ana Sofia Project- $75,000; rent- $10,000; office overhead- $21,000; promissory notes interest- $50,000; management and administration- $15,000; regulatory filing fees-$3,000; working capital- $70,000.
ABOUT THE ANA SOFIA PROJECT
The Ana Sofia Project includes an agri-gypsum open pit mine and processing facility having a current design capacity of 4,000 tonnes/month. Gypsum is extracted from near-surface, flat-lying beds within the sedimentary formation that extends throughout the Ana Sofia Property, located in Santiago del Estero Province, Argentina. The gypsum rock is fed into primary and secondary crushers, then screened and sorted into two agri-gypsum fertilizer products. The plant is designed to produce a pellet-sized granular product and a fine powder product (comprised of a minimum 85% gypsum content) that are each packaged into one tonne tote bags. Agricultural gypsum (calcium sulfate dihydrate) is a valuable plant nutrient and plays a vital role in maintaining soil structure and nutrient balance in South American soils, resulting in enhanced crop yields.
The Project comprises two mining concessions totalling 50 hectares (ha) in size within a larger (approximately 600 ha) exploration permit area. The Project is well situated within a region where other small producers are currently extracting agricultural gypsum and selling to fertilizer distributors and farmers. An initial inferred gypsum resource for the Project was estimated (news releases - October 31, 2016 and December 16, 2016) to comprise 1.47 million tonnes averaging 94.1% gypsum, using an 85% cut-off grade that is the minimum required gypsum content for commercial-quality agricultural gypsum products in Argentina.
For additional updates, follow our operations at:
Centurion Minerals - Twitter Account and Demetra Fertilizantes - Instagram Account
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the development of agri-mineral fertilizer projects. For additional information on the Ana Sofia project and applications of agri-gypsum, visit our website: www.centurionminerals.com.
"David G. Tafel"
President and CEO
For Further Information Contact:
David Tafel
604-484-2161