April 16th, 2026, Vancouver, BC - TheNewswire – Centenario Gold Corp. (TSXV: CTG) ("Centenario” or the “Company”) is pleased to announce the company has initiated the first phase work program on the Los Reyes Project (“the Project”) a highly prospective copper and gold exploration asset located near the city of Chihuahua, Mexico. This first stage of work will include detailed mapping and sampling of the old underground mine workings found along a N-S trending contact zone that extends for 1 km. The Los Reyes underground mine workings date back to the early 1900s and have never been systematically sampled.
Following the initial underground mapping and sampling program, the Company will begin the second phase work program which consists of a 1500 meters diamond drilling program at Los Reyes. The drilling program is designed to test the >100m depth extensions of the high-grade Cu-Zn-Ag skarn zone that ASARCO (a large historic US mining company) previously mined at Los Reyes. The Company has submitted the environmental study report and expects permits to be received by late April 2026. Drilling is expected to commence right after.
About the Los Reyes Property
Los Reyes is a Cu-Zn-Au skarn (CRD or Carbon Replacement Deposit?) mineral project located off Highway 49, approximately 170 km S-SE of the city of Chihuahua. The Property covers an important area of historical mining centered along the western contact of a large 2 km diameter granodiorite intrusive body. Historical mining activities date back to the early 1700s. In the late 1800s, ASARCO mined approximately 200,000 tons of high-grade Cu-Zn-Ag material at one of the old mine workings, known as Jibosa.
The most recent exploration work was completed by Valterra Resource Corporation in year 2019. The work was conducted along an 800-metre N-S strike (intrusive-carbonaceous sediments contact) covering the Cu-Au skarn (CRD or Carbon Replacement Deposit?) zone outcropping along the eastern edge between the Tertiary-age granodiorite intrusive and the Cretaceous-age limestones and shales. The exploration target is over 100 meters in width and hosts multiple zones of strongly copper-enriched mineralization.
In a press release dated December 2, 2019 - Valterra Resource Corporation reported results of the surface sampling collected from waste dumps and some limited outcrop chip samples at Los Reyes. The average Cu grade was 3.1% and 22 of 28 samples had values >1% Cu. The more anomalous samples also contained elevated precious and base metal values, reaching up to 0.57g/t Au, 25.3g/t Ag, 0.47% Mo and 1.7% Zn (see Table 1).
Table 1: Summary assays from surface sampling on the Los Reyes Project taken by Valterra Resource Corp. News Release on December 2, 2019
Figure 1. Map showing the Los Reyes Property location & Geological Map showing the Valterra Resources 2019 sample locations and Centenario Gold Corp’s proposed drill sites
Qualified Person:
Derrick Strickland is an independent Qualified Person as defined