Centenario announces C$58 million "bought deal" financing


    TORONTO, March 6 /CNW/ - Centenario Copper Corporation (TSX:CCT) (the
"Company") is pleased to announce that it has entered into an agreement with
Canaccord Capital Corporation and BMO Capital Markets, which have agreed to
co-lead a bought deal private placement of 10,000,000 Special Warrants (the
"Special Warrants") of the Company at a price of C$5.80 per Special Warrant,
for aggregate gross proceeds of C$58,000,000 (the "Offering").
    Each Special Warrant will, subject to adjustments, be exercisable by the
holder thereof for one (1) common share of the Company (each an "Underlying
Share") for no additional consideration at any time. The Special Warrants
will, if not exercised earlier, be automatically exercised on the earlier of
(i) the third business day after the date of issuance of a receipt for a
prospectus qualifying the distribution of the Underlying Shares on exercise of
the Special Warrants in each of the Canadian Selling Jurisdictions and (ii)
120 days from the closing of the Offering. The Company intends to use its
reasonable best efforts to qualify the Underlying Shares for issuance in each
of the provinces of Canada, excluding Quebec within 60 days from the closing
of the Offering.
    The Company plans to use the net proceeds of this financing for mine
construction for the Company's Franke Project, exploration and development of
the Company's China, Pelusa and Pan de Azucar Projects and for general
corporate working capital purposes.
    The Offering is scheduled to close on or about March 27, 2008 and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the Toronto Stock Exchange.
The securities to be issued under the Offering will be offered by way of
private placement exemptions in all the provinces of Canada (except Quebec),
offshore and in the United States on a private placement basis pursuant to an
exemption from the registration requirements of the United States Securities
Act of 1933, as amended.
    This news release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or dissemination
in the United States. The Company and Canaccord agree that the securities will
not be offered or sold in the United States or to, or for the account of,
United States persons except to accredited investors pursuant to the exemption
from the registration requirements contained under the United States
Securities Act of 1933, as amended to deal with the possibility that the
securities may be sold to United States persons.

    About Centenario Copper Corporation:

    The Company was founded in 2004 with the goal of becoming a mid-tier
copper producer and consolidator, active in low risk regions. Centenario
currently operates exclusively in Regions II and III of Chile. The Company
intends to achieve its goal through the acquisition and development of
advanced, mid-sized copper projects and enhance the scale and value of its
principal projects through the roll-up of smaller regional satellite copper
    The Franke Property, located in Region II, is currently in construction
and is projected to produce 30,000 tonnes of cathode copper per year, starting
in December 2008. On the nearby Pelusa Property, a fast track evaluation of
various copper targets is underway. The Company believes that the Pelusa
Property is highly prospective for developing additional leachable copper
resources and is evaluating possible production scenarios, including
processing at the Franke plant. The Pan de Azucar Property, located 45 km.
from the Franke Property, is currently being evaluated as a possible nucleus
for a second property cluster. The Company continues to evaluate other "in
region" clustering opportunities which could reinforce its existing property
    Copies of NI 43-101 Technical Reports on the Franke Property and the
Pelusa Property are posted on SEDAR and on the Company's web site.

    CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking statements". All
statements other than statements of historical fact, included in this release,
including, without limitation, statements regarding future plans and
objectives of Centenario Copper Corporation, are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from Centenario's
expectations are the risks detailed herein and from time to time in the
filings made by Centenario Copper Corporation with securities regulators. The
Company has no specific intention of updating any forward-looking information
whether as a result of new information, future events or otherwise, except as
required by law.

    %SEDAR: 00025906E

For further information:

For further information: Centenario Copper Corporation, Richard
Colterjohn, President and CEO, (416) 360-0059, Email:
rcolterjohn@glencoban.com; Website: www.centenariocopper.com

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Centenario Copper Corporation

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