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Centenario Announces Signing a Letter of Intent on the Los Reyes Copper Gold Project in Chihuahua, Mexico

January 5, 2026

January 5, 2026 - Centenario Gold Corp. (TSXV: CTG) ("Centenario” or the “Company”) is pleased to announce they have entered into a Letter of Intent ("LOI") through its 100% owned Mexican Subsidiary company Durango Gold Corp SA de CV (DGC), with the concession owners Vector Factor S.A. de C.V. (“Factor”) to acquire a 100% interest in the Los Reyes Project (“the Project”) a highly prospective copper and gold exploration asset located near the city of Chihuahua, Mexico.

The property consists of two mineral concessions totalling 45ha which cover a highly prospective Cu-Au Skarn target within the Faja de Plata of northcentral Mexico, one of the world’s most productive regions for polymetallic Skarn and Carbonate Replacement Deposits (CRD). Los Reyes is strategically located along a northwest-trending structure formed along the western margin of the Sierra Madre Oriental that hosts numerous high-grade current and past operating mines including Naica and the Velardena district.

Pursuant to the terms of the LOI, the Company will enter into a Final Project Purchase Option Agreement (the “Purchase Agreement”) with concession owners, to which Centenario will have the option (the “Option”) to acquire up to 100% of the right, title and interest in and to the Los Reyes Project. The Option can be entered into by Centenario by initiating a 1000 metre drill program making the initial cash payment of $15,000 US, and making the following cash payment over a 5 year term indicated below:

Transaction Terms:

To buy 100% (one hundred percent) of the mining rights of the mining concessions that are part of the 'Project'.

Pay an amount of US$15,000 (Fifteen thousand dollars, United States Currency) on or before December 31st, 2025
Initiate a diamond drilling program of minimum 1000 meters in the Project within 6 months after the signing of the LOI.
Depending on whether the drilling program is successful or not, and no later than 45 days after receiving the results of the geochemical analysis of the drilling, Durango Gold may agree to sign the Final Project Purchase Option Agreement with the general terms presented below.
The scenario of payment for the purchase and sale of the Project with a Purchase Option Agreement, distributed in annual payments divided over a period of five (5) years, and the delivery of a royalty (NSR) goes ahead.
Project Option Payments for 5 years

On Signing:       *US$ 40,000
(*at the latest 45 days after the drilling is completed and results received)
1 year after Signing:      US$ 50,000
2 years after Signing:       US$ 80,000
3 years after Signing:       US$ 100,000
4 years after Signing:       US$ 110,000
5 years after Signing:       US$ 120,000
Total: US$ 500,000

6. The royalty (NSR) of 2% will also be delivered to "Factor": this royalty will be permanent during the productive life of the project and "Factor" will be responsible for paying Minera Cascabel SA de CV the proportional part that corresponds to it according to what was agreed between them on February 11, 2014.

7. To pay the mining rights of the two mining concessions of the "Project" during the period of validity of this Intent Agreement.

Doug Fulcher, President & CEO of Centenario Gold says. "We are very excited about the acquisition of the Los Reyes project; it helps to back up our decision to work on developing copper gold project in North American. We are planning a drill program for the new year to test the historical information that we have on the project ."

Figure 1 - Map showing the Property locations south of Chihuahua

Figure 2 - Claim Map of the Los Reyes Project

The Los Reyes Project – A Highly Prospective Copper-Gold Asset in a Proven and Expanding Mining District

The Los Reyes prospect is located 170 km S-SE of the city of Chihuahua, a few kms off a major highway connecting the cities of Chihuahua to the north and Durango, Torreon and Monterrey to the south. The property lies approximately 8 km from the mid-size town of Jimenez and easily accessible only a few km off the main highway. The surface rights are held by a local rancher who is fully supportive of all of our exploration activities.

Regionally, the Los Reyes polymetallic skarn (CRD?) prospect, occurs at the contact between a package of limestones and metasediments and the granodiorite batholith. The Los Reyes prospect sits on the eastern flank 1.5 km in diameter, semi-circular intrusive body.

It is important to note that all of the ground covering the contact zone (skarn-replacement mineralization potential) on the periphery of this granodiorite body has been held and controlled by Minera Peñoles for more than 25 years. The Los Reyes prospect is the only zone that contains important old mining workings (estimated to be 50 to 60 meters deep).

Valterra Resources conducted a sampling and geophysical programs in 2019. “The surface program comprised of a 4.8 line kilometre 2D/3D DCIP geophysical survey and detailed surface mapping and sampling along an 800 metre strike length of a Cu-Au skarn target forming the eastern contact between a Tertiary-age granodiorite intrusive and Cretaceous-age limestones and shales. The exploration target is locally over 100 meters wide and contains multiple zones of strongly copper-enriched mineralization. Near surface mineralization exposed in shallow artisanal workings and adjacent dump material is strongly oxidized. (“Reported in Valterra Resource Corp. news release dates December 2, 2019”)

In a press release dated December 2, 2019 - Valterra Resource Corporation reported sampling of waste dumps related to the artisanal workings and limited outcrop chip samples returned 22 of 28 samples with Cu values >1% Cu at an average grade of 3.1% Cu and up to 5.9% Cu. The anomalous samples contain elevated precious and base metal values up to 0.57g/t Au, 25.3g/t Ag, 0.47% Mo and 1.7% Zn (see Table 1). Anomalous samples were collected along the full 800m strike-length of the exploration target on the property with most of the samples collected in 5 clusters adjacent to open cuts and pits related to the historically mined portions of the trend.”

Table 1 - Summary assays from surface sampling on the Los Reyes Project taken by Valterra Resource Corp. News Release on December 2, 2019

Figure 3 - Copper outcrop at the Los Reyes Project

Figure 4 - Drone Imagery of surface sulphide mineralization exposed in historic exploratory trenching

Qualified Person:

Derrick Strikland is an independent Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.

Reader Caution: The qualified person has not verified the information on the adjacent properties nor mineralization found on adjacent and/or geologically similar properties which is not necessarily indicative of mineralization found on the Property.
Further information on the Centenario Gold or their Properties can be found on our website at www.centenariogold.com.

About Centenario Gold Corp.:

Centenario Gold Corp. is a mineral exploration company incorporated in British Columbia and headquartered in Vancouver, Canada. The Company is focused on the acquisition, exploration, and development of high-potential mineral projects in the Americas, with a primary emphasis on gold, copper and silver.

The Company is committed to responsible exploration and development, working closely with local communities and stakeholders. Centenario’s management team brings extensive experience in mineral exploration, project development, and capital markets.
Centenario Gold Corp. is listed on the TSX Venture Exchange and continues to evaluate new opportunities to expand its portfolio in both Mexico and Canada and deliver value to shareholders.

On behalf of the Board of Directors,

Doug Fulcher
President, CEO, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions may include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.

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Centenario Announces Signing a Letter of Intent on the Los Reyes Copper Gold Project in Chihuahua, Mexico

January 5, 2026

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