HERE'S THE REALLY BIG NEWS WE'VE BEEN WAITING FOR !!
Centurion Gold Holdings in Negotiations with Two Separate Entities Bidding to Purchase 100% of Centurion's Outstanding Stock
Tuesday June 14, 6:00 am ET
Board of Directors Currently Evaluating Offers from Two Publicly Listed Mining Companies
JOHANNESBURG, South Africa--(BUSINESS WIRE)--June 14, 2005--Centurion Gold Holdings, Inc. (OTCBB:CGHI - News), the only South African junior gold mining company publicly listed in the U.S., announced today that it has been approached by two different publicly listed mining companies to acquire all of the outstanding shares of Centurion Gold Holdings. The Company's Board of Directors is currently evaluating both offers.
"The Board is seriously considering independent bids from two different publicly listed mining companies. They are both offering to purchase all of the outstanding shares of Centurion Gold, thus bidding for all of our assets," stated Mr. Dale Paul, CEO and Chairman of Centurion Gold Holdings. "We intend to accept an offer if it is at a price level that is an attractive premium to the current trading price. We feel that there is serious interest in Centurion at this time because we have very effectively built a strong portfolio of properties and mineral assets that sets us apart from the other junior mining companies in the South African market."
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.
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