Central Announces $300,000 Financing

Fri Dec 7, 2012 1:17pm EST

* Reuters is not responsible for the content in this press release.

  VANCOUVER, BRITISH COLUMBIA, Dec 07 (MARKET WIRE) --
Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company")
announces that it is undertaking a non-brokered private placement of up
to $300,000 through the sale of up to 12,000,000 units at a price of
$0.025 per unit.

    Each unit will consist of one common share and one transferable share
purchase warrant. Each warrant will entitle the holder to purchase one
additional common share of the Company at a price of $0.05 during the
first year following the closing date and $0.10 during the second year
following the closing date. The Company may accelerate the expiry of the
warrants (following the expiry of the 4 month hold period) if the
twenty-day volume-weighted average trading price of the shares on the TSX
Venture Exchange (or such other exchange on which the shares may be
listed) exceeds $0.10 in in the first year following the closing date and
$0.20 in the second year following the closing date, in which event the
warrants will expire 30 calendar days after the date that the Company
provides notice to the holders.

    The proposed private placement is subject to TSX Venture Exchange
acceptance, including TSX-V's Bulletin dated August 17, 2012, Private
Placements - Temporary Relief from Certain Pricing Requirements. All
securities issued under the private placement will be subject to a four
month hold period from the closing date. The Company may pay finder's
fees and issue finder's warrants on all or a portion of the proposed
financing. The proceeds from the private placement will be used to fund
exploration of the Company's mineral projects and for general working
capital purposes.

    About Central Resources

    Central Resources Corp. is a junior exploration company created to
leverage the extensive knowledge and experience of a dedicated group of
financial and resource industry professionals. The Company has acquired
options on several highly prospective mineral properties in the Yukon and
British Columbia and continues to pursue additional opportunities to
build shareholder value.

    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 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.
Paul Reynolds
President and CEO
604-630-3730
info@centralres.ca
www.centralres.ca

Copyright 2012, Market Wire, All rights reserved.

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