CNT Cenit Corp

Cenit Corporation (the "Company") (TSX VENTURE:CNT) is pleased to announce that
the TSX Venture Exchange ("TSXV") has conditionally approved its change of
business application (the "Change of Business") which involves the acquisition
of an undivided 50% right title and interest in the Batchawana Bay Copper
Property (the "Property") comprised of 39 unpatented mineral claims located
approximately 85 kilometres northwest of Sault Ste. Marie, Ontario. The Company
has filed a filing statement (the "Filing Statement") on SEDAR which discloses
the details of the Change of Business including a private placement arranged in
connection with the acquisition.


The Property includes the past-producing Coppercorp Mine that operated from 1965
to 1972 milling approximately one million tons of ore and producing about 23
million pounds of copper, 200,000 ounces of silver and 2,000 ounces of gold. The
Coppercorp Mine was an underground mine that produced from mineralized vein
systems along a strike length of 4.2 kilometers and to a depth of 160 meters.
Since the Coppercorp Mine was reopened for staking in 2002, several companies
have carried out exploration and identified the potential for iron oxide
copper-gold (IOCG) deposits. Features that make the larger Batchawana Bay Copper
Property prospective for an IOCG type deposit include; the proximity to the
mid-Proterozoic Mid-Continental Rift, the Keweenawan basalts as a potential
source of a significant amount of copper, the presence of iron oxides, numerous
faults and dilation along structures, widespread copper mineralization, a large
regional aeromagnetic anomaly, and gold and silver associated with the copper
mineralization. The company intends to continue the exploration activity for
IOCG type deposits that was previously initiated.


The closing date for the Change of Business will occur on or before May 22, 2011
and will include the issuance of 1,000,000 common shares of the Company ("Common
Shares") to First Minerals Exploration Ltd., a private Ontario company and
vendor of the Property and the final closing of the private placement. The
private placement will consist of an offering of a minimum of 4,300,000
flow-through units ("FT Units") at $0.15 per FT Unit and a minimum of 8,460,000
hard-dollar units ("HD Units") at $0.10 per HD Unit, for aggregate gross
proceeds of at least $1,491,000. Each FT Unit will consist of one Common Share
issued on a flow-through basis and one-half (1/2) of one Common Share purchase
warrant ("FT Warrant"). Each HD Unit will consist of one Common Share and
one-half (1/2) of one warrant ("HD Warrant"). Each whole FT Warrant will entitle
the holder to purchase one Common Share at a price of $0.30 for a period of 24
months from the date of issuance. Each whole HD Warrant will entitle the holder
to purchase one Common Share at a price of $0.20 for a period of 24 months from
the date of issuance.


All Common Shares and Warrants issued pursuant to the private placement will be
subject to a four month hold period.


Upon completion of the Change of Business and required filings with the TSXV,
the Company will be listed as a Tier 2 Resource Issuer. The Company's Filing
Statement and NI 43-101 compliant technical report on the Property may be
accessed on the Company's SEDAR profile at www.sedar.com.


About Cenit Corporation

The Company is a Canadian holding company, looking for strategic investment
alternatives to enhance shareholder value. The above Change of Business has been
undertaken to become a mining and exploration development company. The focus is
on copper mineralization in Canada on properties that are in the intermediate to
advanced exploration stage. The Property near Sault Ste. Marie, Ontario is a
past producer that has development potential and may be the host for an IOGC
(Olympic Dam) type mineralization.


All technical information in this press release has been reviewed and approved
by Howard Coates P. Geol. who is as a "Qualified Person" under National
Instrument 43-101.


CAUTIONARY STATEMENT: This News Release includes certain "forward-looking
statements". These statements are based on information currently available to
the Company and the Company provides no assurance that actual results will meet
management's expectations. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or goals,
including words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results relating to, among
other things, results of exploration, project development, reclamation and
capital costs of the Company's mineral properties, and the Company's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets; changes in demand
and prices for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; technological and
operational difficulties encountered in connection with the activities of the
Company; and other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking statements. The
Company does not undertake to update any forward-looking statement that may be
made from time to time by the Company or on its behalf, except in accordance
with applicable securities laws. Please see our public filings at www.sedar.com
for further information.

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