Centurion Announces Postponement of Annual General Meeting

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2020) - CENTURION MINERALS LTD. (TSXV: CTN) ("Centurion" or the "Company") announces that due to the Company's plans for a change of business to become a Latin American focused cannabis extraction company and the challenges related to Covid-19, the Company's management determined that it is in the best interest of the shareholders to postpone its 2020 Annual General Meeting ("AGM"). Centurion has been granted an extension (of up to six months) by the BC Registrar of Companies which will allow the Company sufficient time to prepare the required Information Circular and communicate effectively with its shareholders on material matters. As the COVID-19 situation evolves, and the Change of Business progresses, the Company will set a date for the AGM and will file a notice of meeting and record date on the Company's website and on SEDAR (www.sedar.com).

ABOUT CENTURION

Centurion Minerals Ltd. is a Canadian-based company with a focus on South American asset development. The Company's lead investment is its interest in the Ana Sofia Agri-Gypsum Fertilizer Project. The Company has been actively pursuing business opportunities in the South American cannabis and related products industry.

"David G. Tafel"
President and CEO

For Further Information Contact:
David Tafel
604-484-2161

Completion of the transaction, discussed in the February 7, 2020 News Release is subject to a number of conditions, including, but not limited to, Exchange acceptance and if applicable, shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information release or received with respect to the transaction may not be accurate or complete and should not be relied upon.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward looking statements concerning future operations of Centurion Minerals Ltd. (the "Company"). All forward-looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections. Such statements include, among others: possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; delays and other risks related to construction activities and operations; timing and receipt of regulatory approvals of operations; the ability of the Company and other relevant parties to satisfy regulatory requirements; the availability of financing for proposed transactions, programs and working capital requirements on reasonable terms; the ability of third-party service providers to deliver services on reasonable terms and in a timely manner; market conditions and general business, economic, competitive, political and social conditions.

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