Centurion Gold Holdings Raises $3 Million from New York-Based Laurus Funds for Completion of Acquisitions.

JOHANNESBURG, South Africa -- Centurion Gold Holdings, Inc., (OTC BB: CGHI.OB), announced today that it has raised $3 million in a three-year convertible note from Laurus Master Funds ("Laurus Funds"), a New York-based institutional investment fund that specializes in providing financing to growing, small and micro-capitalization companies.

The funding will be used to expand current operations and to complete acquisitions as part of its business strategy of "growth by acquisitions." The note is convertible into shares of Centurion Gold Holdings stock at a fixed price at 103% of the 10 day average on the day of closing. The details of the transaction will be available in the Company's 8K filing.

CEO Arthur Johnson of Centurion Gold Holdings said, "This funding in an important step in the execution of our business strategy. Through acquisitions and the development of acquired properties, Centurion Gold Holdings is now producing 30 kg of gold a month and by the end of next month, we expect to increase that number substantially."

"In the last six months," he added, "CGHI has become revenue producing, making a thirty - fold increase in production at the Primrose mine, initiating production at the Sellies mine and production through rehabilitation at the Omaruru mine. The finalization of the Mine Waste/Chemwes acquisition will increase production by 58,000 ounces a year and increase the asset valuation to $2.91 a share."

The world's largest producer of gold, South Africa's enormous gold ore reserves represent more than 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.

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 the past six months, it has acquired four properties: the Primrose Gold Mine; the Omaruru Gold Mine; the Sallies Mine and a chrome bearing operation. The Company is positioning itself to become a major producer in this market by acquiring 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.

For more information, please contact: Truc Nguyen, VP, Investor Relations, Stern & Co., Telephone: [phone]; Email: [e-mail].