Centrasia Mining Corp.
OTC Bulletin Board : CTMHF

Centrasia Mining Corp.

December 06, 2006 09:00 ET

Centrasia Negotiates $2 Million Private Placement

Centrasia Announces the Appointment of Damien Reynolds to the Board

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 6, 2006) - Centrasia Mining Corp. ("Centrasia") (TSX VENTURE:CTM)(OTCBB:CTMHF)(FWB:C8M) announces that it has negotiated a non-brokered private placement of 4,000,000 units at $0.50 per unit, each unit consisting of one share and one half of one non-transferable warrant, each full warrant will entitle the holder to buy one share of Centrasia at $0.75 for a period of 18 months from closing. The gross proceeds of $2,000,000 will be used to conduct exploration programs on the Company's existing mineral exploration properties in Kyrgyzstan, for the acquisition of new properties, and for general working capital. Finders' fees of $65,000 and 130,000 units will be payable. The private placement is subject to regulatory approval.

Centrasia is also pleased to announce the appointment of Damien E. Reynolds to the board of Directors, effective immediately. Mr. Reynolds has an impressive track record with projects of merit around the world and also for his ability to raise capital for junior companies. He is the Chairman and chief executive officer of Longview Capital Partners, a profitable global resource group. Mr. Reynolds is also the chairman of Buffalo Gold and the chairman of Bayswater Uranium. In conjunction with his appointment, Mr. Reynolds has been granted an option to purchase up to 200,000 shares of the Company at $0.60 per share for a period of five years.

Centrasia Mining Corp.'s headquarters is in Vancouver, Canada, with exploration offices in Bishkek, Kyrgyzstan and Almaty, Kazakhstan. The company is actively engaged in the exploration and acquisition of precious and base metal projects in Central Asia. Centrasia is listed for trading on the TSX Venture Exchange under the symbol "CTM", on the Frankfurt Stock Exchange under the symbol "C8M" and on the OTCBB under the symbol "CTMHF".

To find out more about Centrasia Mining Corp., please visit the company website at www.centrasiamining.com.

On behalf of the Board of Directors of CENTRASIA MINING CORP.

Douglas Turnbull, President & C.E.O.

Forward-Looking Statements. This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Centrasia Mining Corp.
    Douglas Turnbull
    President & C.E.O.
    (604) 688-4110
    (604) 688-4169 (FAX)
    Website: www.centrasiamining.com