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Best Intercept in the Dayton Gold Zone in Deloro Township
6.35 m @ 3.29 g/t Gold (estimated true width 4.93 m)

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  • CTEC interprets that the Historical Dayton gold zone has a parallel quartz breccia system in sediments
  • Drill hole D-19-06 in the Dayton Gold Zone in Deloro Township intersected 3.29 g/t Au over a 6.35 m core width (estimated true width 4.93 m) from 112.3 m depth in quartz sulphide and massive sulfide veins
  • CTEC’s drill hole on the Four Corners property intersected a 30 m wide band of sediments, which is often a marker horizon above the VMS polymetallic vein style mineralization in the Kam Kotia area mines

Toronto, Ontario September 26th, 2019 ‐ Central Timmins Exploration Corp. ("CTEC" or the "Company") (TSXV: CTEC) is pleased to present the results from its 2019 summer exploration program. Diamond drilling totaling 1,600 meters commenced July 9th, successfully advancing several gold and base metal targets in Timmins, Ontario.

CTEC’s 100%-owned land position (14,035 ha or 140 km2) in the Timmins Camp in Northern Ontario has been assembled over the past 15 years and grouped into distinct township referenced projects within the city limits of Timmins.  CTEC is undertaking brownfields gold and VMS exploration in the Timmins Camp both to the north and south of the 10 km wide corridor encompassing the Porcupine Destor Fault Zone (PDFZ), the preferential exploration focus of the past 100 years.

The Companyqs Deloro–Ogden Township brownfield exploration is focused on two gold systems south of the PDFZ, the historic Dayton Gold Zone horizon and the past-producing Faymar Gold Mine. An additional and substantial gold project on the north side of the PDFZ in Mountjoy Township is targeting the potential continuation of the Hollinger-McIntyre gold system westerly into Mountjoy Township.  CTEC’s base metal-gold project is in the Kamiskotia VMS camp and centred on a series of narrow but high-grade gold-silver-zinc veins located near the common corner of four Townships (Godfrey, Jamieson, Robb, and Turnbull) within the city limits of Timmins.

The attached map shows the CTEC project and recently-completed drill holes relative to the giant gold mines of the Timmins Camp and several of the historic VMS mines in the Kamiskotia area.

The summer drill program advanced all three CTEC projects:

Four Corners Project
Drill hole FC-19-01 was collared to test the potential lateral extensions of NW-SE to N-S trending gold mineralization intersected by Claim Post Resources Inc. (CPS) in 2007 to 2010 drilling.  This drilling intersected multiple gold and zinc base metal bearing zones with widths varying from 0.18 m (estimated true width 0.14 m) to 1.63 m (estimated true width 1.22 m) at grades ranging from 1.44 g/t Au to 19.97 g/t Au and averaging 3.00 g/t over a 3.00 m core width (estimated true width 2.25 m).

More specifically, the hole targeted a magnetic low/coincident MMI target, 300 m east of a vein set where only gold values had been intersected in sediments. The CTEC hole intersected 30 m of intermixed sediments and porphyries.  Identifying this horizon has substantially increased the VMS potential of the Four Corners area. D.R. Pyke and R.S. Middleton published a paper in the March 1971 CIM Bulletin, which describes a sedimentary unit up to 30 m thick that overlies the rhyolitic unit hosting the Kam Kotia, Canadian Jamieson, and Jameland VMS orebodies.  CTEC is currently undertaking a downhole IP survey to target potential massive sulphide lenses underlying the gold-rich polymetallic veins.

South of the PDFZ
CTEC completed two oriented core diamond drill holes on the Dayton Gold Zone in Deloro Township first drill tested in the 1930s with 24 diamond drill holes. CPS added an additional 20 holes in 2010 and 2011. The zone has traditionally been viewed as a single narrow iron formation horizon with variable gold mineralization. Computer modeling of all available drill hole data now indicates a potential iron formation fold nose targeted by CTEC holes D-6-19 and D-7-19 near 2010 CPS drill hole CPDP-10-01.  Intersections are as follows:

  • CTEC D-19-06: 6.35 m (estimated true width 4.93 m) @ 3.29 g/t Au from 112.3 m depth in quartz sulphide and massive sulphide (MS) veins
  • CTEC D-19-07: 3.80 m (estimated true width 3.44 m) @ 1.51 g/t Au from 86.5 m depth in quartz sulphide and MS veins
  • CPDP 10-01: 14.07 m (estimated true width 10.61 m) @ 1.69 g/t Au from 117.1 m depth in quartz sulphide and MS veins

All three holes have intersections of similar quartz sulphide and massive sulphide veins.  A down the hole IP survey plus diamond drilling indicate that the immediate nose fold area of the Dayton Zone is at least 100 m long, extends to a depth of at least 150 m (the extent of current drilling) and plunges to the southeast. Relogging of the CPS holes is in progress.

The 2019 drilling has identified a second gold bearing quartz breccia horizon located about 15 m horizontally from the iron formation.  Secondly, the quartz breccia is located within a sedimentary horizon that has previously been misidentified as an andesite-tuff horizon. Thirdly, the dip of the breccia zones can be interpreted as flat lying or steep dipping parallel to the iron formation; more drilling is required to confirm the orientation and extent of the breccia zones.

North of the PDFZ
The Mountjoy-Godfrey project is designed to test the theory that the Hollinger-McIntyre gold system did not stop at the Mountjoy-Tisdale Township boundary but extends through Mountjoy Township to the west.

Three holes drilled during CTEC’s winter drill program had confirmed wide intersections of low-grade gold mineralization in the Caron porphyry on the west boundary of Mountjoy.  The best assay from the program was 2.46 g/t Au over 0.70 m hosted in porphyry in hole G1-19-02 (see CTEC press release dated June 6, 2019). This hole also had 11 additional narrow gold intersections that assayed 100 to 300ppb Au in altered and quartz veined porphyry.

The summer drill program targeted three anomalies, two potential porphyry targets, one 600 m and the second 1,200 m southeast of the Caron porphyry.  The third target was a strong IP anomaly 500 m directly to the east of the Caron porphyry.  Drilling of these targets proved to be very difficult due to deep overburden.

The first planned porphyry hole was lost at a 60 m depth at the contact with a gravel deposit. The patented surface rights owner hosting the second porphyry target wanted the hole to be drilled in a winter program.  The third was successfully drilled through 50 m of fine sand and 10 m of gravel and boulders.  The IP anomaly proved to be a graphitic schist.

Charles Gryba, President and CEO stated, “CTEC’s summer drill program successfully confirmed that the narrow Four Corners high-grade base metal and gold veins are in the right location relative to the rhyolite horizon that hosts the VMS deposits in the Kam Kotia area. Of particular interest is that the CPS drilling in 2007 intersected gold mineralization in the sedimentary horizon that caps the rhyolite-VMS horizon. There may be a gold system in addition to the VMS system.

Exploration drilling south of the PDFZ was very successful in expanding the potential of the Dayton Gold Horizon. The two holes drilled into the zone confirmed a second gold horizon in a newly recognized and prospective sedimentary unit. The new gold mineralization may be parallel to the iron formation and/or flatter dipping.  Recent government mapping plus a Deep Seismic survey following Pine Street south of Timmins both indicate that the Dayton Gold Zone curves through a 10 km long east-west anticline of the south side of the PDFZ.  The quartz breccia zones may relate to fractured areas along the hinge line of the large anticline.  More drilling is required.

In addition to the summer drilling, a detailed geophysical compilation and interpretation of a historic Mountjoy airborne magnetic survey plus other historical geophysical surveys has been undertaken.  The results are now being analyzed by CTEC geologists in the hopes of advancing the theory that Hollinger-McIntyre stratigraphy extends into and possibly across Mountjoy Township and further drilling may be proposed.  The company is also carrying out limited IP surveys to confirm Mountjoy gold targets.”

The Company remains well financed and will announce details of the next phase of its exploration program once all current information is compiled and reviewed.

CTEC has a comprehensive, industry standard Quality Assurance/Quality Control program in place covering all its drill core assaying being done at Activation Laboratories Ltd. in Ancaster, Ontario. The program is supervised by an independent Qualified Person.

Mr. John Sullivan, B.Sc., P. Geo, independent director of CTEC, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information relating to exploration results and future plans disclosed in this press release.

About Central Timmins Exploration Corp.

CTEC is an early-stage Canadian junior exploration company with property exclusively within the city limits of Timmins in the Porcupine Mining District in the northeastern region of Ontario. The Company's assets are prospective for gold as well as a suite of base metals. See the company website at www.centraltimmins.com.

For further information, please contact:

Central Timmins Exploration Corp.

Charles Gryba, President, CEO & Director
Charles.Gryba@bell.net
Tel: 416-801-6366

Chris Hopkins, CFO
C.Hopkins@live.ca
Tel: 416 786 9793

Forward Looking Information

This press release contains "forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, the Corporation’s expectations, strategies and plans for the Timmins Properties, including the Corporation’s planned exploration activities and the intended uses of the net proceeds of the IPO.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Corporation to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See “Risk Factors” in the Corporation’s final prospectus dated October 4, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
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