Centurion Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2012) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") announces that it has arranged a non-brokered private placement of up to 4,300,000 Units priced at $0.07 for total gross proceeds of up to $301,000. Each Unit will consist of one common share and one half warrant. Each whole warrant will be exercisable for one common share at $0.10 for a period of eighteen months following the closing and will be subject to a four month hold period.

Proceeds from this financing shall be used for Myanmar project due diligence, exploration activities and general corporate purposes. The offering is subject to the approval of the TSX Venture Exchange and finders' fees may be paid.

Myanmar Gold Opportunities

Centurion has identified a number of gold mining and exploration projects and is negotiating agreements with multiple potential mining partners in this mineral-rich country. Many gold occurrences at varying stages of exploration have been noted along the gold and associated mineralized belts of Myanmar, but very few have been explored systematically using modern methodology. Most of the occurrences are of epithermal and intrusion-related style of mineralization. Historical exploration by international and local companies has resulted in development of only a few of these into producing mines due to economic sanctions and a lack of investment capital.

ABOUT CENTURION

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.