Centram Exploration Ltd., in connection with the joint venture with Crossland Uranium Mines Ltd. reported in Stockwatch Feb. 15, 2007, has arranged a non-brokered $5-million private placement.

The private placement will consist of up to 12.5 million units of Centram at a price of 40 cents each.

Each unit comprises 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 60 cents for a period of two years from closing. The warrants will be subject to forced conversion if the common shares of Centram close at $1 or more for 20 consecutive trading days. The proceeds of the private placement will be held in escrow, and release is conditional upon Centram graduating to Tier 2 of the TSX Venture Exchange.


FOR FURTHER INFORMATION PLEASE CONTACT:

 

Richard Mark

Centram Exploration Ltd.

T. (604) 986-2020
F. (604) 986-2021

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release is not for distribution to any U.S. news wire services or for dissemination in the United States of America.