Central Closes $550,000 Private Placement

VANCOUVER, BRITISH COLUMBIA, Nov 02 (MARKET WIRE) --
Central Resources Corp., (TSX VENTURE: CBC) ("Central" or the "Company")
is pleased to announce that it has closed the non-brokered private
placement previously announced on October 5, 2009. The Company has sold
5.5 million Units at a price of $0.10 per Unit for proceeds of $550,000.

Each Unit consists of one common share and one share purchase warrant.
Each warrant entitles the holder to purchase an additional share for a
period of two years at a price of $0.20 per share in the first year and
$0.40 per share in the second year. All shares and warrants are subject
to a four-month hold period expiring on March 1, 2010. The proceeds of
the private placement are to be used to conduct exploration on the Newman
Todd property and for general working capital. No commission was paid for
the private placement.

The TSX Venture Exchange has accepted for filing the letter of intent
between Central and Redstar Gold Corp. regarding the Newman Todd
property. Central is finalizing the binding option agreement with Redstar
Gold Corp. whereby Central can earn a 60 percent undivided interest in
the Newman Todd property.

The Newman Todd Project is located in the Red Lake gold mining camp in
Northwestern Ontario. Previous work by Redstar on the Newman Todd
property has outlined gold values within a silicified breccia zone that
can be traced for at least two kilometres.

About Central Resources

Central Resources Corp. is a junior mineral exploration company created
to leverage the extensive knowledge and expertise of a team of financial
and resource industry professionals. The management team is committed to
developing a successful junior resource company through the acquisition
and exploration of properties of merit.

The securities offered have not been, and will not be, registered under
the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or any
applicable exemption from the registration requirement of such Act. This
press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.

This news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may cause
actual events to differ materially from current expectation. Important
factors - including the ability of the parties to negotiate the terms of
a binding agreements, the outcome of due diligence investigations,
availability of funds, the results of financing efforts, the results of
exploration activities -- that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time on SEDAR (see www.sedar.com). Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The
company disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Central Resources Corp.
Tim McNulty
President and CEO
778-327-6678
Email: info@centralres.ca
Website: www.centralres.ca

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