Centurion Mines Corp. Announces Successful Ore Extraction and Positive Assay Results

Centurion Mines Corp. has successfully extracted a 30-ton bulk ore sample from the upper levels of the Mammoth Mine in Utah. The assay results show a grade of 0.07 ounces per ton in gold, 10.5 ounces per ton in silver, and 9.9% copper, representing approximately $350 per ton in gold, silver, and copper at current metal prices. This achievement marks a significant milestone in the company's pre-production activities, which began in November 1994.

Key Takeaways:

• Centurion Mines Corp. has extracted a 30-ton bulk ore sample from the upper levels of the Mammoth Mine, a significant step in the company's pre-production activities.
• The assay results show a grade of 0.07 ounces per ton in gold, 10.5 ounces per ton in silver, and 9.9% copper, representing approximately $350 per ton in gold, silver, and copper at current metal prices.
• The upper levels of the Mammoth Mine, from the 300-foot main tunnel entry level to the surface, were last mined and closed in the 1930s, and Centurion has the advantage of conducting modern exploration and mining.
• Centurion has assembled an experienced team of mining professionals to direct its Tintic production operation, and has engaged Patrick Harrison Constructors Inc. to provide engineering, development, and mining services.
• Over 700 feet of tunnel has been rehabilitated, and mine service lines and necessary timber have been installed to support modern mining operations.
• The geological staff has identified numerous targets for new development in close proximity to the existing workings of the Mammoth Mine, including a 300-foot segment of the "back fissure" zone, where rockchip samples averaged 0.22 ounces per ton gold, 25.5 ounces per ton silver, and 7.6% copper.

Statistics:

• 30-ton bulk ore sample extracted from the upper levels of the Mammoth Mine
• Assay results: 0.07 ounces per ton gold, 10.5 ounces per ton silver, and 9.9% copper
• $350 per ton in gold, silver, and copper at current metal prices
• 700 feet of tunnel rehabilitated
• Mine service lines and necessary timber installed
• Individual sample results:

+ Drill hole (No.I-584-4): 20-foot zone of mineralization at 230-250 feet, with assay results of 0.38 ounces per ton gold, 7.3 ounces per ton silver, and 0.44% copper

+ Rockchip samples from the "back fissure" zone: 0.22 ounces per ton gold, 25.5 ounces per ton silver, and 7.6% copper

Sources:

• Business Wire, February 1, 1995
• Centurion Mines Corp. press release