Centurion Gold Announces Change In Management

JOHANNESBURG, South Africa--May 8, 2006--Centurion Gold Holdings, Inc.
(OTCBB:CGHI), a natural resource development company, announced today that
effective immediately Mr. Arthur Johnson is serving as the Company's new
President and CEO while Professor Raymond Parsons has become Centurion's new
Chairman of the Board. They replace Mr. Dale Paul who served as Centurion's
President, Chief Executive Officer, and Chairman of the Board.

Mr. Johnson had served as Centurion's Chief Financial Officer and Director since
December 2004. He will remain as Director and give up his post as Chief
Financial Officer. Replacing Mr. Johnson as Chief Financial Officer, effective
immediately, is Mr. Rinus Groeneveld who also remains Company Secretary. Mr.
Groeneveld is a South African Chartered Accountant.

Prof. Parsons will serve as the Company's new Chairman of the Board, replacing
Mr. Dale Paul in that role. Prof. Parsons is a previous Director General of the
South African Chamber of Business (SACOB). He is currently a Director of the
South African Reserve Bank, the Chairman of Mantek Resources (Proprietary)
Limited and serves on the governing council of the Nelson Mandela Metropolitan
University. Prof. Parsons is a past professor of economics at the University of
the Witwatersrand, past visiting professor of the University of Pretoria and an
extraordinary professor at the Nelson Mandela Metropolitan University. He also
received an honorary doctorate from the Nelson Mandela metropolitan University
for his immense contribution to business in South Africa.

Messrs. Neven Hendricks and Jannes du Plooy, both chartered accountants and
former partners of Deloitte, together with Mr. Keith Hart remain on the Board of
Centurion Gold.

About Centurion Gold Holdings, Inc.


Centurion Gold Holdings is a resource development company deploying a strategy
of acquiring and/or partnering on natural resource properties that are
undervalued. Management adds critical development to assets which it then sells
or spins out into other listed entities. This strategy includes issuing
Centurion investors stock or cash dividends for spun out assets. The Company's
key natural resource interests include oil and gas properties in Alaska and
Texas, as well as six South African mineral properties including gold, platinum
and chrome. For more information please visit www.centuriongold.com.


Forward-Looking Statements


Statements about the Company's future expectations, including future revenues
and earnings, and all other statements in this press release other than
historical facts are "forward-looking statements" within the meaning of section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934 and as the term is defined in the Private Securities Litigation Reform Act
of 1995. The company's actual results could differ materially from expected
results. The Company undertakes no obligation to update forward-looking
statements to reflect subsequently occurring events or circumstances. Should
events occur which materially affect any comments made within this press release
the Company will appropriately inform the public.


Contact:
In the United States:
MCC Financial Services
Dilek Mir, 310-453-4667, ext. 235
ir@mccglobal.com
or
In Europe:
MCC Financial Services
Carrie Howes, +44 (0) 207 408 5406
ir@mccglobal.com