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2005-06-27 06:00:08
Centurion Gold Holdings Receives Buy Out Offer At More Than Double Its Current Trading Price; Board Considering Offer From Publicly Traded Natural Resources Company


Business Editors / Mining Editors

JOHANNESBURG, South Africa--(BUSINESS WIRE)--June 27, 2005--
Centurion Gold Holdings, Inc. (OTCBB:CGHI), the only
South African junior gold mining company publicly listed in the U.S.,
announced today that its Board of Directors is considering an offer
for the purchase of the entire issued, and to be issued, share capital
of Centurion Gold Holdings, Inc. The offer is valued at $0.45 cents
per share, 104% above Centurion Gold Holdings' closing price of $0.22
per share on June 24, 2005. The offer values Centurion Gold at
approximately $67.6 million.
The buy out offer comes from a publicly-traded natural resources
company involved in exploration and mining. Under the proposed offer,
the structure of the post-acquisition company would include two key
Centurion executives. Centurion's Chairman and CEO, Dale Paul, would
serve as the merged company's Chief Executive Officer and Centurion's
CFO, Arthur Johnson, would serve as a non-executive Director.
"We are pleased to receive an offer for Centurion Gold that values
us at more than twice our current trading price," stated Mr. Dale
Paul, CEO and Chairman of Centurion Gold Holdings. "Our board is
currently evaluating the offer and its potential benefits for our
Full disclosure of the company making the buy out offer will be
made available in the event that Centurion's board of directors
accepts the offer.

About Centurion Gold Holdings, Inc.:

Centurion Gold Holdings is the only South African junior gold
mining company publicly listed in the United States. The Company is
executing a roll-up strategy acquiring proven mineral assets, "growth
through acquisition"; these assets consist of near revenue stream and
existing low-cost production operations with turnaround opportunities.
Based in South Africa, the Company is ideally suited to exploit new
legislation implemented by the government in May 2004. This
legislation enforces a "use it or lose it" strategy, whereby all
mining claims must be prospected within a designated time frame;
otherwise, such prospects revert to the state, thereby creating
never-before-seen opportunities, particularly for smaller companies
like Centurion. The Company has built a strong team of experienced
management and operations mining professionals to exploit these
opportunities, and is positioning itself to become a major producer by
continually implementing its "growth through acquisition" strategy.

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 Securities 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.

SOURCE: Centurion Gold Holdings, Inc.

MCC Financial Services
Dilek Mir (U.S.), 310-453-4667 x235
Leslie Richardson (U.S.), 310-453-4667 x239
Carrie Howes (U.K. and Europe), +44 (0) 20 7907 9850

Do Da Due......But Be Damn Quick About It!!!!!

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in...looking for .40

"keep your stick on the ice & your cup firmly in place"

Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator

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