Further to the Company’s news release of February 27, 2006, Centram Exploration Ltd. (“Centram”) is

pleased to announce that it has completed the previously announced non-brokered private placement

offering (the “Private Placement”) of 10,000,000 units (“Units”) at a price of $0.05 per Unit for gross

proceeds to Centram of $500,000. Each Unit consists of one common share in the capital of the Company

and one common share purchase warrant. Each warrant entitles the holder thereof to purchase an

additional common share at a price of $0.10 for a period of 12 months following closing. The proceeds of

the Private Placement will be used for the acquisition of mineral properties, for general working capital

and to prepare the Company for graduation to the TSX Venture Exchange. A finder’s fee of 600,000

common shares is issuable in connection with the closing of the Private Placement.

The Company further reports that an aggregate of 100,000 Units were issued to certain creditors of the

Company in full satisfaction of an aggregate of $5,000 indebtedness to such creditors. The warrants

comprising part of the Units are exercisable upon the same terms as those warrants issued pursuant to the

Private Placement. The securities issued pursuant to the private placement and debt settlement are subject

to a four month hold period from the date of issuance.

In addition, the Company is pleased to announce that Mr. David Mosher and Mr. Donald Whalen have

joined Centram’s Board of Directors. Mr. Mosher is President and CEO of High River Gold Mines Ltd.

and a director of a number of TSX and TSX Venture listed companies. He has over thirty years

experience internationally, as a mining executive and geologist associated with projects in Australia,

Canada, the United States, Russia, Asia and Africa. Mr. Whalen is Executive Chairman of High River

Gold Mines Ltd, a position he has held for the past twelve years. He is also Chairman of the Canada

Eurasia Russia Business Association and Co-Chair of the Canada Russia Business Council.

The Board wishes to thank the former Directors of Centram, Mr. John Roozendaal and Dr. George Gale,

for their contributions.

For further information, please contact Richard Mark at 604-986-2020.

On behalf of the Board of Directors,

Richard Mark, CEO, President, Director