Centurion completes $882,150 debt reduction via shares and forgiveness

Vancouver, British Columbia--(Newsfile Corp. - May 29, 2026) - Centurion Minerals Ltd. (TSXV: CTN) (" Centurion ", or the " Company ") is pleased to announce that, further to its news release dated May 22, 2026, it has now completed a total debt reduction of $882,150. The Company has issued 5,533,333 common shares at a deemed price of $0.075 per share to settle $415,000 of outstanding debt, of which $335,000 was owed to two directors of the Company. In addition, the same two directors have forgiven a total of $467,150 in long-term loans originally advanced September 2022.

These combined transactions reduce the Company's liabilities by $882,150. Mr. David Tafel, Director and CEO, commented: "The reduction in balance sheet liabilities strengthens our financial position substantially. Additionally, the strategic exploration focus on Suriname, accompanied by the recent appointment of accomplished geologist, Dr. Dennis LaPoint as President, positions the Company as an exciting emerging growth opportunity." About Centurion Minerals Ltd. Centurion Minerals Ltd. is a Canadian-based company with a focus on precious mineral asset exploration and development in the Americas.

"David G. Tafel" Chief Executive Officer For Further Information Contact: David Tafel info@centurionminerals.com 604-484-2161 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299513 Newsfile Corp. May 29, 2026 - 3:01 PM PDT News by QuoteMedia www.quotemedia.com