Western States acquires property from Centurion

Western States, the project operator, will fund Centurion’s 30% share of capital costs through a private placement of Centurion common shares. The company is committed to place the project into production within 15 months from the date of the agreement or six months following receipt of any required permit amendments.

Western States has also agreed to a $100,000(US) private placement of 51,813 Centurion shares with warrants to purchase an equal number at a price of $2.27 per share.

John Chapman, Centurion’s president, describes Western States as “an efficient, low-cost operator with a demonstrated track record.”

The company operates two open pit, heap leach gold mines in central Nevada which are expected to produce 63,000 oz gold this year.

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