Centenera Signs Amended Option Agreements for Tres Cerros Gold and Silver Properties Santa Cruz Province

VANCOUVER, BC - Centenera Mining Corporation reported that it has signed amending agreements to three previously executed option agreements whereby, subject to TSX Venture Exchange approval, Centenera will be granted the right to acquire up to a 100% interest in eight precious metals properties (the “Properties”) from an arm’s length party, Tres Cerros Exploraciones S.R.L. 

The Properties are all located within the highly prospective Deseado Massif in Santa Cruz Province, Argentina, and together comprise more than 30,000 hectares.  Under the terms of the Option Agreements, Centenera will be granted an exclusive option to acquire a 100% interest in the Properties by way of staged cash and common share payments, subject to a net smelter returns (NSR) royalty in favor of Tres Cerros.

The Properties are all located within the prospective Deseado Massif.  The Deseado Massif is a Jurassic age volcanic plateau covering 60,000km2 and hosting valuable epithermal precious metals deposits. 

The Company also announces that it has withdrawn from the El Penon option agreement, under which the Company had the right to acquire a 100% interest in the El Penon property located in San Juan Province, Argentina.  During the course of the option period, the Company completed stream sediment sampling, rock sampling and mapping.  Following review of the Company’s property portfolio, it was determined that the El Penon property should be relinquished and returned to the underlying owner.