Centenario Copper Corporation

Centenario Copper Corporation

May 06, 2008 09:45 ET

Centenario Receives Final Receipt for Short Form Prospectus

TORONTO, ONTARIO--(Marketwire - May 6, 2008) - Centenario Copper Corporation (TSX:CCT) is pleased to announce that it has received a final receipt from the Ontario Securities Commission for a short form prospectus in connection with the conversion of 10,000,000 special warrants issued March 27th, 2008 into common shares. The conversion will occur within three business days and the resulting common shares will trade freely on the Toronto Stock Exchange.

On March 27, 2008, the Company completed the offering of 10,000,000 special warrants at CAD $5.80 per special warrant for gross proceeds of CAD $58.0 million. Each special warrant is exercisable into one common share of the Company (each an "Underlying Share") for no additional consideration. The Company agreed with the underwriting syndicate for the offering to use reasonable best efforts to file a prospectus to qualify the distribution of Underlying Shares by May 26, 2008.


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. For more information, please visit the Company's website at www.centenariocopper.com.

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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