Centenario Announces Final Approval Of Cabot Option And Closing Of $300,000 Final Tranche Of Unit Financing

Executive Summary

• Centenario Gold Corp. closed the second and final tranche of its $1.5 M non‑brokered private placement, issuing 3,105,000 units at $0.10 per unit for gross proceeds of $310,500.
• Proceeds are earmarked for advancing the Cabot Project in Newfoundland & Labrador, for which the TSX Venture Exchange has granted final approval of the project option.
• The company also announced a grant of 1,350,000 incentive stock options to directors, officers, employees and consultants at an exercise price of $0.30 per share.

Key Details

• Offering Structure: 3,105,000 units; each unit = 1 common share + ½ non‑transferable warrant (exercisable for one additional share at $0.15 for 24 months).
• Pricing & Proceeds: Unit price $0.10 → gross proceeds $310,500.
• Related Party Participation: Certain directors and officers participated; transaction exempt from MI 61‑101 valuation/approval thresholds (<25 % market cap).
• Regulatory Conditions: Final tranche subject to TSX Venture Exchange final approval; securities under a statutory hold period of 4 months + 1 day. No finder’s fees paid.
• Use of Proceeds: To fund the Cabot Project option and associated exploration activities as previously disclosed (Oct 14 2025 & Dec 18 2025 releases).
• Option Agreement (Cabot Project): Aggregate cash payments $300,000 (of which $15,000 paid), issuance of 3,000,000 shares, and $1.65 M in exploration expenditures to acquire up to 100 % of PNL Ventures Ltd.’s interest.
• Stock Option Grant: 1,350,000 incentive stock options; five‑year term; exercise price $0.30 per share; subject to Exchange acceptance.
• Cabot Project Highlights – Copper Zone: Surface sampling up to 6.9 % Cu (21 samples); 5 drill‑ready targets identified, 4 untested. Proximity to Firefly Metals’ Ming Mine with historic resource of ~21.5 Mt @ 1.8 % CuEq.
• Cabot Project Highlights – Marble Cove Gold Prospect: Historic grab sample up to 70.38 g/t Au; structurally controlled veins near Maritime Resources’ Point Rousse gold project.
• Technical Report: NI 43‑101 report filed on SEDAR+ (dated Oct 27 2025) prepared by independent Qualified Persons Dawn Evans‑Lamswood, M.Sc., P.Geo., and Harrison Cookenboo, Ph.D., P.Geo.
• Qualified Person Review: Garth Graves, P.Geo., independently reviewed and approved the scientific/technical information in this release.

Notable Quotes

“The closing of the Final Tranche provides us with the necessary capital to advance our Cabot Project option and move toward meaningful exploration milestones,” – Doug Fulcher, President, CEO & Director.