Centram Exploration Ltd. (“Centram”) is pleased to announce that it has closed, in escrow, the

previously announced non-brokered $5 million private placement (please see Centram’s news

release of February 26, 2007).

The private placement consisted of 12,500,000 units of Centram at a price of forty cents ($0.40)

each. Each unit is comprised of one common share and one-half of one common share

purchase warrant. Each full warrant entitles the holder to acquire a common share of Centram

at an exercise price of sixty cents ($0.60) for a period of two years from closing. The proceeds

of the private placement, together with the common shares and warrants, are being held in

escrow, and release is conditional upon Centram graduating to Tier 2 of the TSX Venture

Exchange. After TSXV graduation, the warrants are subject to forced conversion if the common

shares of Centram close at $1.00 or more for twenty consecutive trading days. Closing of the

private placement and release from escrow remains subject to regulatory approval.

Following release from escrow, proceeds will be used to fund the Company’s initial obligations

covered by the Company’s Joint Venture with Crossland Uranium Mines Ltd. (“Crossland”)

regarding three uranium properties, being Chilling Project, Charley Creek Project and Kalabity

Project, to acquire prospective uranium properties outside Australia pursuant to the Joint

Venture and to provide working capital.

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

This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results

and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not

guarantees of future performance and results. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s

disclosure documents filed from time to time with the Canadian securities authorities