Centurion Gold Holdings Opens up Third Shaft, Moss Rose, at Primrose Gold Mine, Raising Production 20%.

JOHANNESBURG, South Africa -- Centurion Gold Holdings, Inc., (OTC BB: CGHI.OB), announced today that it has opened its third shaft at its Primrose mining operation. Production will begin this month.

The company reported that it expects production of 1,000 tons of ore or 6kg of gold per month, adding 20 percent to its current production level.

Dale Paul, chief executive officer of Centurion Gold Holdings said, "Opening Moss Rose takes advantage of the excellent opportunities we have to escalate production from our current mining assets."

Moss Rose, which has been closed for more than 25 years, required extensive renovation to resume production, including opening up the old stopes, which are veins, putting in new supports, refurbishing the head gear and the winch systems. The bins and rails are in place for immediate production.

In addition to the new production from Moss Rose, Paul forecasts that during March the Waverly shaft will produce in excess of 4,500 tons per month or 21 kg of gold and Stanhope shaft will produce 1,000 tons or 6 kg of gold.

"We are very pleased about realizing additional income from Primrose without a major investment and are now focusing on reducing operation costs," he added. Noting that the company wanted to escalate its internal growth to achieve profitability in the near-term.

"Having received the funding to enable the closing of acquisitions shortly," he said, "we are well on our way to making Centurion Gold Holdings a world-class gold mining company with world class low-cost operations."

"The company has grown organically in the past three years, and its properties currently contain resources with 1.7 million ounces of gold, valued at approximately $751 million, at current prices of $432/oz. Employing traditional valuation methods of ten percent of proven reserves, the fair value of our company is approximately $75 million, or approximately $1.40 per share, without including the value of our chrome operations," said Arthur Johnson, chief financial officer.

"With high oil prices and the dollar depreciation expected to continue, we forecast the gold price to remain at current levels and possibly rise further. We are currently reviewing a number of acquisition targets, with the goal of increasing proven reserves to more than 2 million ounces by the end of this year, which would place the company's valuation at $86 million, or approximately $1.60 per share at today's prices," Johnson concluded.

About Centurion Gold Holdings, Inc.:

Centurion Gold Holdings, located in Johannesburg, South Africa, started three years ago to identify and acquire promising ore-bearing properties. In addition to its current holdings of four properties: the Primrose Gold Mine; the Omaruru Gold Mine; the Sellies Mine and a chrome bearing operation, the company is positioning itself to become a major producer in this market by acquiring additional mineral bearing properties and mineral rights.

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.