Centurion Gold Holdings, Inc. Announces Intent to Acquire Odzi Properties - Proprietary - Limited.

Business Editors

JOHANNESBURG, South Africa--(BUSINESS WIRE)--Sept. 9, 2003

Centurion Gold Holdings, Inc. (OTCBB:CGHI) today announced its intent to acquire 100 percent of the outstanding common stock of Odzi Properties (Proprietary) Limited (Odzi), owner of the Sallies Gold Mine, Gauteng, South Africa.

The companies have commenced due diligence and, subject to the satisfactory completion, anticipate a definitive agreement be signed by both parties in the near future.

Arthur Johnson, CEO, Centurion Gold Holdings, Inc., stated, "We are extremely excited about the acquisition of Odzi Properties Ltd, as we believe it will be a major contributor to increased production and substantial revenue gains. In addition, this move falls in line with our stated objective of growth through acquisitions."

About Centurion Gold Holdings, Inc.

Following its acquisition of Omaruru Exploration Company (Proprietary) Limited in June 2003, Centurion Gold Holdings, Inc. (CGHI) conducts gold mining and extraction operations in South Africa.

Omaruru Minerals (Proprietary) Limited owns Elandshoogte mine, and is situated on the farms Elandshoogte, Rietvallei and Sudwalaskraal between the towns of Nelspruit and Sabie in the Mapumalanga Province of South Africa. Total area covered by all claims and rights is 1,736 hectares.

In April 2003, the company reported above-ground reserves of 400,000 tons with a gold content of approximately 1.72 grams per ton, and below-ground reefs containing 448,000 tons with a gold content of approximately 7.3 grams per ton. The company further reported the discovery of 1,500 unproven claims intersecting the same reefs as the proven reserves, thus giving the mining operations a life expectancy exceeding 15 years.

In addition to current gold extraction and ore recycling efforts underway, Centurion Gold Holdings Inc. continues to explore acquisition targets.

About the South African Gold Market:

The world's largest producer of gold, South Africa's enormous gold ore reserves represent over 40% of global reserves. Industry analysts predict that the future of the gold industry in South Africa is dependent on consolidation of mining companies and increased productivity. Market leaders, such as Anglogold Limited (NYSE:AU) and Gold Fields Ltd. (NYSE:GFI), have benefited from strategic mergers and acquisitions of mining companies owning mineral rights leases in South Africa. As Centurion Gold Holdings steadily expands its South African gold mining enterprises by strategically acquiring companies mining or owning mineral lease rights, the company is setting the stage to become a major producer in this market.

FORWARD LOOKING STATEMENTS:

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public.