Centurion signs letter of intent to acquire Brothers Gold Project, Suriname

Vancouver, British Columbia--(Newsfile Corp. - August 24, 2026) - Centurion Minerals Ltd. (TSXV: CTN) (" Centurion " or the " Company ") is pleased to announce that it executed a Letter of Intent (" LOI ") on August 19, 2026 to enter into an Option Agreement with Mega Bond International Investments Limited (" Mega Bond ", or " Optionor ") to acquire an 80% interest in Mega Bond's 100% owned company that holds a 100% interest in the 9,600-hectare Brothers Gold Project (" Brothers " or the " Project ") located in eastern Suriname (the " Proposed Transaction ").

The Brothers Project is situated approximately 15 kilometres from the former Newmont Esperance deposit and approximately 40 kilometres south of Newmont's Merian Mine. The Project benefits from a significant historical exploration database that includes rock-chip and soil sampling, airborne magnetics, LiDAR, trenching, and diamond drilling.

Project Highlights

Three distinct geological domains analogous to productive settings elsewhere on the Guiana Shield.

Extensive small-scale mining has exposed gold mineralization within saprolite and bedrock, creating excellent exposures for mapping and sampling.

At least three structural corridors hosting gold mineralization have been identified, with strike lengths up to 5 kilometres (" km ") associated with the "granitic domain".

Approximately 3,000 metres (" m ") of historical drilling that targeted one of the gold-mineralized shear zones with mineralization extending at least 3.5 km.

Selected intercepts include: 10 m @ 1.8 g/t Au

6 m @ 4.6 g/t Au

8 m @ 2.4 g/t Au

1 m @ 20.5 g/t Au

Of the three geological domains, only the granitic domain has had limited testing by trenching and drilling, leaving the two additional domain types largely underexplored.

An experienced local exploration team with long-standing knowledge of the Brothers Project is available to support accelerated exploration.

Dr. Dennis LaPoint, President of Centurion, commented: "The historical work completed at Brothers provides a solid foundation for the potential discovery and delineation of new gold resources. I have been involved with the Project since its early stages and believe it ranks among the more prospective junior-held packages in the Guiana Shield greenstone belt. We look forward to working with the experienced concession holders to systematically advance the Project."

Brothers Project Overview

The Brothers Project is located at the intersection of major lithologic and structural trends within the Paleoproterozoic greenstone belt of Suriname (see Figure 1). This setting provides three complementary target domains (see Figure 2):

Granitic Domain . The primary focus of historical small-scale mining and drilling. Pits and workings have exposed shear and tension structures hosting ore-grade gold. Future work will focus on expanding known mineralization through additional drilling, soil sampling, and gradient-array induced polarization (IP) surveys.

Granite-Metavolcanic Contact Zone . A major regional structural corridor. Historical soil sampling has outlined anomalies of similar magnitude to those associated with the Oko West discovery (G Mining Ventures). Follow-up soil sampling and trenching are planned to define drill targets.

Metavolcanic-Sedimentary Domain . Characterized by limited small-scale activity due to access constraints and steep creek profiles. Historic panning has returned some of the highest gold counts observed by the technical team. This domain shares geological similarities with settings at Omai Gold Mines and the Antino Project (Founders Metals).

The Project is accessible by road from Paramaribo using four-wheel-drive vehicles. Historical exploration and drilling programs have been conducted year-round.

Qualified Person

The technical content of this news release has been reviewed and approved by Dr. Dennis LaPoint, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Qualified Person and the Company have not completed sufficient work to verify the historical information on neighbouring properties.

Proposed Transaction Terms

The LOI contemplates Centurion entering into a definitive option agreement with the Optionors of the Project. The non-binding indicative terms in the LOI provide that to maintain and exercise the option to acquire an 80% interest, Centurion will make the following escalating cash payments, share issuances, and project expenditures over a five-year period. The Optionors are at arms length to the Company and no finder's fees are to be paid.

Cash Payments

US$200,000 on closing

US$300,000 on the 6-month anniversary

US$250,000 on the 12-month anniversary

US$6,000,000 over the subsequent 48 months

Share Consideration

US$2,000,000 in Centurion common shares over four years (subject to a maximum ownership of 19.9%)

Project Expenditures

US$18,000,000 over five years

The concession owners will retain a 2.0% net smelter return royalty (" NSR ") on the Project. Centurion will have the right to purchase the NSR for a one-time payment of US$5,000,000.

Finalization of the Proposed Transaction remains subject to the following conditions: satisfactory completion of due diligence by Centurion, execution of a definitive binding Option Agreement, and acceptance by the TSX Venture Exchange.

Pursuant to TSX Venture Exchange policies, trading in the Company's stock has been halted. Trading will resume upon the Company submitting required filing documents with the TSXV for a 'Fundamental Acquisition". The Company anticipates submitting the required documents within the next 30 to 45 days.

About Centurion Minerals Ltd.

Centurion Minerals Ltd. is a Canadian-based company focused on the exploration and development of precious metal assets 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 news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information relates to future events or future performance and reflects management's current expectations or beliefs regarding future events. Forward-looking information in this news release includes, but is not limited to, statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance; including statements regarding Proposed Transaction, including but not limited to: the execution of a definitive option agreement; the satisfaction of conditions precedent, including satisfactory due diligence and TSX Venture Exchange acceptance; the Company's ability to complete the required cash payments, share issuances and exploration expenditures under the proposed option; planned exploration activities at the Brothers Project (including mapping, sampling, trenching, geophysical surveys and drilling); the interpretation of historical exploration results; the potential of the three identified geological domains; and the Company's general business plans and strategy.. 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.

Forward-looking information is based on a number of assumptions that management believes are reasonable as of the date of this news release, including assumptions regarding the successful negotiation and execution of a definitive agreement, the availability of financing, the Company's ability to meet its expenditure and payment obligations, the accuracy of historical exploration data, and general economic and market conditions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the risk that a definitive agreement is not executed or that the transaction does not close on the terms currently contemplated or at all; the risk that TSX Venture Exchange acceptance is not obtained or is obtained on conditions unacceptable to the Company; the Company's ability to raise the capital required to fund the option payments and exploration expenditures; risks inherent in mineral exploration and development (including the risk that exploration results may not support further work); fluctuations in commodity prices and currency exchange rates; and other risks described in the Company's continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca .

Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.

Figure 1. Location of Brothers Project in Guiana Shield of Suriname and French Guiana. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4407/311148_dd7477912464fb34_002full.jpg

Figure 2. Domains with gold potential on Brothers Project. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4407/311148_figure2.jpg

Figure 3. Historic drilling in the granitic domain on Brothers. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4407/311148_dd7477912464fb34_004full.jpg

Figure 4. "Small-scale" mining at Jordel pit, Brothers Project. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4407/311148_dd7477912464fb34_005full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311148

TMX Newsfile

August 24, 2026 - 11:32 AM PDT

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