Centurion Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2012) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") is pleased to announce that it has closed its previously announced non-brokered private placement. The financing consists of 5,714,286 Units priced at $0.07 for total gross proceeds of $400,000. Each Unit is comprised of one common share and one half warrant, with each whole warrant being exercisable for one common share at $0.10 for a period of eighteen months following the closing. The Units are subject to a four-month hold period which expires in March of 2013.

The Company paid finders' fees of $21,666 and issued 58,800 non-transferrable Agent's warrants. Agent's warrants are exercisable into Units at $0.10 on the same terms as those issued pursuant to the placees.

Proceeds will be used for project due diligence in Myanmar, exploration activities and general corporate purposes.

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.