Centenario Copper Corporation

Centenario Copper Corporation

July 02, 2008 07:00 ET

Centenario Copper Corporation Appoints Richard Leclerc as Chief Operating Officer

TORONTO, ONTARIO--(Marketwire - July 2, 2008) - Centenario Copper Corporation (TSX:CCT) is pleased to announce the appointment of Richard Leclerc as Chief Operating Officer (COO) of the Company, effective August 4th, 2008. Mr. Leclerc is a mining engineer and brings a wealth of experience in mining operations, development and project evaluation, gained in over 26 years of involvement with various international mining companies in North and South America. He is currently the Vice President of Operations, Chile for Teck Cominco Limited, where he has overall responsibility for two operating SX-EW copper mines (Quebrada Blanca and Andacollo) and for one development stage project (Andacollo hypogene flotation project) in Chile. Previously, Richard held operating and development positions with Falconbridge in Chile and Peru (including Director of El Pachon Project and Site Manager, Finance and Administration, Compania Minera Antamina) and with Cambior in Chile, Peru and Argentina.

As COO, Richard will be based in Santiago, Chile and will assume overall responsibility for the operations of the Company, including the development and operation of the Franke SX-EW cathode mine, scheduled for start-up in late 2008, the advancement of the Pelusa and Pan de Azucar projects, and the pursuit of new growth initiatives for the Company.

Mr. Richard Colterjohn, President and CEO of Centenario stated "I am absolutely delighted to have been able to attract Richard to our Company. Centenario has set a very ambitious agenda, which includes simultaneously developing and commissioning our first mine at Franke, while also aggressively setting the stage for our future growth with the advancement of our Pelusa and Pan de Azucar properties and various other identified growth initiatives. Our existing Chilean management team, led by our General Manager Lincoyan Hernandez, has done an outstanding job in advancing these initiatives to date. However, in order to accelerate the execution of our growth strategy in tandem with transitioning to a producing company, we needed to strengthen our senior operating team on the ground in Chile. A six month executive search process identified Richard as the best candidate for this position. Richard has outstanding experience as a mine developer and operator, has lived in Santiago for the last 14 years, and is well respected and embraced as part of the local community. I have every confidence that Richard will add tremendously to the building of our Company."

In connection with his employment, Mr. Leclerc will be granted 50,000 common shares, which shall vest 24 months from the commencement of his employment (the "Commencement Date") and 150,000 options to acquire common shares of the Company for a period of 5 years, exercisable at the closing price of the Company's shares on the TSX on the Commencement Date, subject to certain vesting provisions and the terms of the Company's Stock Option Plan.


Richard Colterjohn, President and CEO

About Centenario Copper Corporation:

The Company was founded in 2004 with the goal of becoming a mid-tier copper producer and consolidator, active in regions of low sovereign risk. Centenario currently operates exclusively in Regions II and III of Chile. The Company intends to achieve its goal through the acquisition and development of advanced, mid-sized copper projects. It then plans to enhance the scale and value of its principal projects through the roll-up of smaller satellite copper resources, which exist regionally around the principal projects.

The Franke Property, located in Region II, is currently in construction and is projected to produce 30,000 tonnes of cathode copper per year, starting in December 2008. On the nearby Pelusa Property, a fast track evaluation of various copper targets is underway. The Company believes that the Pelusa Property is highly prospective for developing additional leachable copper resources and is evaluating possible production scenarios, including processing at the Franke plant. The Pan de Azucar Property, located 45 km. from the Franke Property, is currently being evaluated as a possible nucleus for a second property cluster. The Company continues to evaluate other "in region" clustering opportunities, which could reinforce its existing property portfolio.

Copies of NI 43-101 Technical Reports are posted on SEDAR and on the Company's web site.

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved of disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Centenario Copper Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Centenario's expectations are the risks detailed herein and from time to time in the filings made by Centenario Copper Corporation with securities regulators.

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