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Central Announces $300,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec 7, 2012) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") announces that it is undertaking a non-brokered private placement of up to $300,000 through the sale of up to 12,000,000 units at a price of $0.025 per unit.

Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.05 during the first year following the closing date and $0.10 during the second year following the closing date. The Company may accelerate the expiry of the warrants (following the expiry of the 4 month hold period) if the twenty-day volume-weighted average trading price of the shares on the TSX Venture Exchange (or such other exchange on which the shares may be listed) exceeds $0.10 in in the first year following the closing date and $0.20 in the second year following the closing date, in which event the warrants will expire 30 calendar days after the date that the Company provides notice to the holders.

The proposed private placement is subject to TSX Venture Exchange acceptance, including TSX-V''s Bulletin dated August 17, 2012, Private Placements - Temporary Relief from Certain Pricing Requirements. All securities issued under the private placement will be subject to a four month hold period from the closing date. The Company may pay finder''s fees and issue finder''s warrants on all or a portion of the proposed financing. The proceeds from the private placement will be used to fund exploration of the Company''s mineral projects and for general working capital purposes.

About Central Resources

Central Resources Corp. is a junior exploration company created to leverage the extensive knowledge and experience of a dedicated group of financial and resource industry professionals. The Company has acquired options on several highly prospective mineral properties in the Yukon and British Columbia and continues to pursue additional opportunities to build shareholder value.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company''s expectations are disclosed in the Company''s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.