VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") is pleased to report it has executed a binding letter agreement with a local Burmese group to jointly develop certain gold projects in Myanmar and has initiated the application process to secure several prospective gold mineral exploration concessions.
Pursuant to a recent meeting with the Myanmar Mining Minister, Centurion is encouraged that Myanmar is receptive to developing its full mineral potential with the aid of foreign investment. Alfred Lenarciak, Centurion Chairman comments, "We are very pleased with the assistance provided by the Minister and his department in the mineral concession application process and are confident Myanmar will continue with its rapid democratic transformation in providing a stable foreign mining investment platform."
Centurion has also advanced beyond preliminary agreement status with several operating Burmese gold mining companies and is presently engaged in due diligence on these projects.
Myanmar Gold Opportunities
Centurion has identified a number of gold mining and exploration projects and is negotiating definitive agreements with multiple potential mining partners in this mineral-rich country.
The gold prospects under Centurion's consideration lie within two of the major gold and associated mineral belts that span the N-S axis of Myanmar. Many gold occurrences at varying stages of exploration have been noted along the belts, but very few have been explored systematically using modern methodology. Most of the occurrences are of epithermal and intrusion-related style of mineralization but historical exploration by international and local companies has resulted in development of only a few of these into producing gold mines due to economic sanctions and a lack of investment capital. Centurion has been invited by several local mining companies to consider partnering with them to further develop their gold projects.
Centurion Minerals Limited is a Canadian-based company focused on the exploration and development of gold and other precious metal projects in Southeast Asia.
On Behalf of the Board,
David G. Tafel, President and CEO
This news release may contain forward looking statements concerning future operations of Centurion Minerals Ltd. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.
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