Centenario signs firm option to acquire Cabot project

Centenario Gold Corp. has finalized a definitive option agreement with PNL Ventures Ltd. to acquire a 100% interest in the Cabot Copper-Gold-Cobalt project in Newfoundland. To facilitate this acquisition and address its dire financial state, the company is implementing a 10:1 share consolidation and a non-brokered private placement to raise up to $1.5 million. The financing consists of post-consolidation units priced at $0.10 (equivalent to $0.01 pre-consolidation). The project includes the Cabot Copper Zone (historical samples up to 7% Cu) and the Marble Cove Gold prospect (historical samples up to 70.38 g/t Au). A spring 2026 drill program is planned.

The impact is material and serves as a corporate "lifeline." - Survival: The company was effectively insolvent as of Q3 2025, with only $17,201 in cash against $216,947 in liabilities. - Pivot: This marks a total strategic shift from Mexican gold/silver exploration to Newfoundland copper/gold. - Regulatory: The financing is required to pay auditors and resolve the Management Cease Trade Order (MCTO) that has plagued the company since May 2025. - Dilution and Rollback: While the $1.5M is necessary, the 10:1 consolidation and the issuance of 15 million new post-consolidation units will significantly dilute existing shareholders who have seen the price stagnate at $0.01 for most of the year.

Centenario Gold was originally focused on Mexico but has shifted to the Cabot Project on Newfoundland's Baie Verte Peninsula. - Flagship Project: Cabot Project (Copper, Gold, Cobalt). - Jurisdiction: Newfoundland and Labrador, Canada (mining-friendly). - Geology: Includes a VMS-style copper zone and a separate high-grade gold prospect. The project is adjacent to Firefly Metals’ Ming Copper-Gold Mine.