Centurion Gold Holdings Signs a Memorandum of Understanding to Acquire Assets of Zaaiplaats Tin Mining Pty.

JOHANNESBURG, South Africa -- Upon Completion of the Acquisition, Centurion Gold Holdings Will Be The Largest Tin Producer in South Africa

Centurion Gold Holdings, Inc., (OTC BB: CGHI.OB), announced today that it has signed a memorandum of understanding to acquire the assets of Zaaiplaats Tin Mining Pty, Ltd. Upon completion of the acquisition, Centurion Gold Holdings will be the largest tin producer in South Africa. The terms of the agreement have not been disclosed.

Located in the Limpopo province of South Africa, in the northern Bushveld complex, the Zaaiplaats tin mine has produced in excess of 17,000 metric tons of metal. Once fully capitalised it will produce roughly 2,500 tons a year.

Tin prices have risen sharply in the past two years to $7,000 a ton from $3,500 a ton, according to Kitco, one of the world's premier retailers of precious metals.

CEO Dale Paul of Centurion Gold Holdings, said, "The recent rise in tin prices makes this property extremely viable and extremely profitable. With its expertise in rehabilitation and resource recovery, Centurion Gold Holdings is uniquely positioned to take advantage of this market opportunity."

The mine has agreements with local smelters to buy the tin concentrates to be produced. The processed metal is generally exported to China or used locally in the production of steel alloys.

The mine has a probable reserve of 3.3 million tons of minus 3 mm gravity tailings. The reserve figures are conservatively calculated and have been confirmed by MINTEK Pty LTD Report No. C450M. Mintek is a leading mining and minerals consulting company in South Africa.

Centurion Gold Holdings will develop the project jointly with Mine Waste Solutions, which specializes in tailings treatment and mine rehabilitation, in a joint venture agreement currently being structured.

Centurion Gold Holdings will conduct its own due diligence and the closing of the agreement is contingent upon the delivery of all reports documenting the resource.

An agreement closing the transaction is expected to be signed in thirty days, after the due diligence process has been completed. A comprehensive announcement of sale will be released upon signing of the agreement and subsequent to local announcements in South Africa, according to South African securities laws.

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.

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