Centurion executes agreement for Aceh gold property

Canadian mineral exploration firm Centurion Minerals Ltd. Announced Thursday that it has executed an Agreement with private Indonesian company, PT Nanggroe Kuchi Puega, whereby Centurion will hold an 80% joint venture interest in the Jimeu Property in Aceh Province.

The property is situated about 20 kilometres southeast of the Miwah epithermal gold project.

The Jimeu project covers 10,000 hectares, and has been granted an exploration-stage Mining Business Permit (IUP). Under Indonesian mining laws, the project area falls within the jurisdiction of the Aceh Tengah Regency, which has authority over exploration and mining activities and issuance of IUP Permits. The IUP has been issued by the Tengah Regency to Centurion's Indonesian joint venture partner.

The Jimeu property lies in the Cenozoic magmatic arc of Sumatra that is well-known to host most major gold and gold/copper deposits on the island. Previous exploration in the mid to late 1990s by PT Miwah Tambang Emas (Highlands Gold Ltd.) delineated the Jimeu epithermal mineralization within one of their Au/Cu/As geochemical anomalous claim areas. This showing occurs in terrain characterized by prominent peaks resembling eroded volcanic edifices which are deemed exploration target areas. Jimeu is transected by splays of the Sumatra strike-slip fault system, the mega structure frequently linked to deposit forming processes.

Pursuant to earning an 80% interest in the project, Centurion will be responsible for legal and administrative costs related to the IUP permit and will also be responsible for 100% of the exploration costs to feasibility stage. A re-evaluation of all available historical data is underway so that field work can commence as soon as possible.(alex)