Document:

EMPLOYMENT CONTRACT
       -----------------------------------------------------------------

                             EMPLOYMENT CONTRACT

                                   Between:

                           CENTURION GOLD HOLDINGS INC

                (Registration No. LISTED NASDAQ OTCBB COMPANY)

                                ("the Company")

                                      and

                                ARTHUR JOHNSON

                          (Identity No.3509075033008)

                               ("the Executive")

<PAGE>

      TABLE OF CONTENTS

NO          CLAUSE                 PAGE

1     APPOINTMENT AND DURATION...... 3

2     THE EXECUTIVE'S OBLIGATIONS... 3

3     REMUNERATION.................. 4

4     LEAVE AND SICK LEAVE.......... 5

5     BOARD INFORMATION............. 6

6     CONFIDENTIALITY............... 6

7     BOOKS OF ACCOUNT.............. 6

8     TERMINATION................... 7

9     DOMICILIUM AND NOTICES........ 9

10   GENERAL........................ 10

11   COSTS.......................... 11

<PAGE>

1                     APPOINTMENT AND DURATION

1.1      The Company hereby
employs the Executive, who hereby accepts the appointment as, the
Chief Executive Officer of the Company on the terms and
conditions set out in this agreement.

1.2      Notwithstanding the date
of signature of this agreement, it shall be deemed to have
commenced on the 1st April 2004 and shall continue for an
indefinite period until terminated in terms of the provisions
clause 8.

2                    THE EXECUTIVE'S OBLIGATIONS

The Executive shall:

2.1      perform all the duties of
the Chief Executive  Officer as determined from time to time by
the board of directors ("the board") of the Company and devote
substantially all his time and attention to such duties;

2.2      comply with all
reasonable instructions given to him from time to time by the
board of the Company;

2.3      carry out his duties in a
proper, loyal and efficient manner and shall use his best
endeavours to properly conduct, improve, extend, develop,
promote, protect and preserve the business interests, reputation
and goodwill of the Company and its associated companies and not
do anything which is harmful to them;

2.4      travel to such places
(whether in or outside the Republic) and in such manner and on
such occasions as the Company may from time to time reasonably
require; and

2.5      comply with all the
Company's reasonable rules, regulations, policies, practices and
procedures as laid down and amended from time to time for the
efficient and harmonious operation of the Company's business.

<PAGE>

3                    REMUNERATION

3.1      As remuneration for the
services to be rendered by the Executive in terms of this
agreement, and with effect from 1st April 2004, the Executive
shall receive an all-inclusive annual remuneration package, the
total cost of which to the Company shall be R1 200 000,00(One
million two hundred thousand rand). The Executive will be
permitted to insure not more than two private vehicles under the
Company's group insurance scheme on which tax will be paid on the
deemed benefit. Subject to the applicable legal provisions, and
by agreement between the parties, this remuneration may be
structured in a tax efficient manner. Subject to clauses   3.3.2
, 3.3.3 and 3.6, the Executive shall receive no other
remuneration or benefits and shall be liable for the payment of
any insurance contributions and contributions to medical aid
schemes and pension/provident funds.

3.2      It is recorded that the
remuneration paid to the Executive by the Company  prior to 1
April was the equivalent of that paid to the Executive by
Consultation work for Centuary Minerals Pty Ltd prior to his
taking up employment with the Company.

3.3      The remuneration package
referred to in clause 3.1:

         3.3.1    does
not include the reimbursement of bona fide business expenditure
such as business travel claims;

         3.3.2    does
not include such annual bonuses as the board may, in its sole
discretion, award to the Executive; and

         3.3.3    will
be payable up to and including June 2005, after which it will be
reviewed by the Remuneration Committee with the principal
intention of applying an inflation related adjustment, but which
will also take into account market-related packages at the time
of such review and the performance and experience of the
Executive.

3.4      Notwithstanding anything
to the contrary contained in the Articles of Association of the
Company or that of any of its associated companies from time to
time, the Executive shall  be entitled to receive any
remuneration, either as an ordinary or executive director or
employee of the Company or any of its associated companies, and
the Executive shall, as the Company may direct, either waive his
right to any such remuneration or shall account for and pay over
the same to the Company immediately on his receipt thereof.

3.5      The Company shall
reimburse to the Executive all such reasonable disbursements and
expenses that he may incur in the fulfilment of his obligations
in terms of this agreement, which reasonableness shall be
determined by the Remuneration Committee in its discretion.

3.6      The Executive will
participate in a management share trust scheme which is currently
being established.

<PAGE>

4                    LEAVE AND SICK LEAVE

4.1      The Executive shall be
entitled to 30 (thirty) working days leave on full pay after
every 12 (twelve) months of completed service in terms of this
agreement, which leave shall be taken at a time convenient to the
Company. Any leave entitlement that is not taken may be
accumulated up to a maximum of 25 (twenty five) days or encashed
at the pro-rata value of the gross annual remuneration package
referred to in  clause 3.1  and as amended in terms of  clause
3.3.3.

4.2      Sick leave shall be
granted in terms of the provisions of the  Company's sick leave
policies as formulated from time to time

<PAGE>

5                    BOARD INFORMATION

The Executive shall at all times promptly give to the board, in
writing if so requested, all such information and explanations as
it may require in connection with matters relating to his
employment in terms of this agreement or with the business of the
Company or any of its associated companies from time to time.

6                    CONFIDENTIALITY

The Executive shall not use in any manner and for any purpose
whatsoever, or divulge or disclose to any person, firm or
organisation whatsoever, (except as required by his employment),
any confidential, commercial, financial or technical information
relating to the affairs of the Company or any associated company.
This restriction shall remain in force after the termination of
the Executive's employment, for any reason whatsoever, without
time limit, but will not apply to information which is or comes
into the public domain otherwise than through the Executive's
unauthorised disclosure.

7                    BOOKS OF ACCOUNT

7.1      All books of account,
records, papers, correspondence and documents concerning or
containing any reference to the Company or its affairs in the
Executive's  possession shall be deemed to be the property of the
Company and shall be given up to the Company whenever the
Executive is required to do so by the Company and, in any event,
on the termination of  the Executive's employment with the
Company. No copies of such books of account, records, papers,
correspondence and documents shall be kept by the Executive.

7.2      The above shall also
apply to records and information stored electronically.

7.3      This clause shall also
apply to books of account, records, papers, correspondence and
documents, as well as electronically stored information
concerning, or containing reference to, any  associated company.

7.4      For the purposes of this
clause and this agreement an associated company shall include,
unless the context dictates otherwise, a company which is from
time to time a subsidiary or a holding company (as those
expressions are defined in the Companies Act, 61 of 1973) of the
Company or a subsidiary (other than the Company) of a holding
company of the Company;

<PAGE>

8                     TERMINATION

8.1      This agreement may be
terminated by either party   giving the other party 3 (three)
months' written notice of termination.

8.2      Should  notice in terms
of clause 8.1 be given by the Executive, the Company may elect
not to require the Executive to perform his duties and functions
during the period of notice, provided that the Executive is paid
his full remuneration during the period of notice.

8.3      Should notice in terms of
clause 8.1 be given by the Company, the Company may elect not to
require the Executive to perform his duties and functions during
the period of notice, provided that the Executive is paid his
full remuneration during the period of notice. The Company may
also pay the Executive three  months' remuneration in lieu of
giving notice, in which event this contract will terminate
immediately on the date on which notice is given  of this
decision.

8.4      The Company shall have
the right to cancel this agreement summarily at any time if the
Executive:

         8.4.1  commits a material breach of his obligations under this
agreement; or

         8.4.2  is incapacitated (for any reason whatsoever) from performing
all or any of his duties under this agreement for 4 (four) consecutive
months or for periods aggregating 6 (six) months in any 12
(twelve) consecutive months.

8.5      In the event of there
being a change of effective control of the Company within 18
(eighteen) months from the date of commencement of this
agreement, the Executive will continue to receive the same terms
and conditions of employment as those that existed at the date of
the change of effective control for a period of not less than 12
(twelve) months calculated from the date of change of effective
control of the Company. The employment of the Executive shall
also not be terminated on the basis of the operational
requirements of the business during this 12 month period unless
the Executive  is paid his full remuneration for that portion of
the 12 month period that has not expired.

<PAGE>

8.6      For the purposes of this
agreement  there will be a change of effective control of the
Company if the Company's current holding Company, Centurion Gold
Holdings Inc, ceases to control the Company.

8.7      The parties record that
the Executive was previously employed by Centuary Minerals.

8.8      In the event of the
Executive's employment being terminated on the basis of the
operational requirements of the Company the Executive shall
receive not less than one months remuneration for the first year
of service and thereafter 2 weeks' remuneration (as payable to
the Executive on the date of the termination) for every year of
completed service or pro-rata thereof with the Company. In
addition to the above severance benefit, the Company will pay the
Executive an inflation adjustment to the amount specified in
terms of Annexure A (refer clause 8.7) which will be calculated
by applying the same ratio as the remuneration on termination to
the remuneration referred to in clause 3.1 of this agreement.

<PAGE>

9                    DOMICILIUM AND NOTICES

9.1      Each party chooses the
address set out below as the address at which all notices, legal
process and other communications must be delivered for the
purposes of this agreement:

The Company                    2nd Floor West Tower
                               Nelson Mandela Sqare
                               Sandton Johannesburg
                               South Africa

The Executive                  12 Main Reef Road
                               Primrose
                               Germiston South Africa

9.2      Any notice or
communication given in terms of this agreement shall be valid and
effective only if in writing but it shall be competent to give
notice by telefax.

9.3      Any notice to a party
contained in a correctly addressed envelope and:

         9.3.1    sent
by prepaid registered post to it at its chosen address; or

         9.3.2    delivered by hand to a responsible person during ordinary
business hours at its chosen address,

         9.3.3    shall
be deemed to have been received, in the case of clause 9.3.1, on
the 7th (seventh) business day after posting (unless the contrary
is proved) and, in the case of clause 9.3.2 on the day of
delivery.

9.4      Any notice sent by
telefax to a party at its telefax number shall be deemed, unless
the contrary is proved, to have been received on the first
business day after it is transmitted.

9.5      The parties shall be
entitled at any time to change their addresses for the purposes
of this clause 9 to any other address in the Republic of South
Africa by giving written notice to that effect to the other.

<PAGE>

10               GENERAL

10.1     Any latitude or extension of
time that may be allowed by any party shall not under any
circumstances whatsoever act as an estoppel or be a waiver of
that party's rights hereunder.

10.2     The parties to this
agreement undertake to treat all matters relating to this
agreement and the annexures hereto as being confidential and,
therefore, shall not, without the written approval of the other,
disclose the provisions hereof to any third party.

10.3     This agreement constitutes
the entire contract between the parties as regards the employment
of the Executive and the terms and conditions on which employment
takes place,  and no other conditions, warranties, guarantees and
representations shall be of any force or effect other than those
that are included herein.

10.4     No alteration or variation
to this agreement shall be of any force or effect unless it is
recorded in writing and signed by both parties to this agreement.

10.5     All the transactions and
arrangements contemplated in this agreement constitute one
indivisible transaction.

<PAGE>

11               COSTS

The costs of and incidental to the negotiating and drafting of
this agreement shall be borne by the Company.

Signed at ____________________________ on
____________________________ 2004

for and on behalf of The Company:

____________________________________

a director duly authorised

Signed at ____________________________ on
____________________________ 2004

____________________________________

            The Executive

<PAGE>EMPLOYMENT CONTRACT

                                   Between:

                        CENTURION GOLD HOLDINGS INC
             (Registration No. LISTED NASDAQ OTCBB COMPANY)
                                ("the Company")

                                      and
                   ANDREW DALE PAUL/INVESTPRO COMMODITIES
                         (Identity No.6203075272082)
                               ("the Executive")

<PAGE>

TABLE OF CONTENTS

NO      CLAUSE                        PAGE

1	APPOINTMENT AND DURATION	3

2	THE EXECUTIVE'S OBLIGATIONS	3

3       REMUNERATION                    4

4       LEAVE AND SICK LEAVE            5

5       BOARD INFORMATION               6

6       CONFIDENTIALITY                 6

7       BOOKS OF ACCOUNT                6

8       TERMINATION                     7

9       DOMICILIUM AND NOTICES          9

10      GENERAL                        10

11      COSTS                          11

<PAGE>

1                     APPOINTMENT AND DURATION

1.1      The Company hereby
employs the Executive, who hereby accepts the
appointment as, the Chief Executive Officer of the
Company on the terms and conditions set out in this
agreement.

1.2       Notwithstanding the
date of signature of this agreement, it shall be
deemed to have commenced on the 1st April 2004 and
shall continue for an indefinite period until
terminated in terms of the provisions clause 8.

2                    THE EXECUTIVE'S OBLIGATIONS

The Executive shall:

2.1      perform all the duties
of the Chief Operation  Officer as determined from
time to time by the board of directors ("the board")
of the Company and devote substantially all his time
and attention to such duties;

2.2      comply with all
reasonable instructions given to him from time to time
by the board of the Company;

2.3      carry out his duties
in a proper, loyal and efficient manner and shall use
his best endeavours to properly conduct, improve,
extend, develop,  promote, protect and preserve the
business interests, reputation and goodwill of the
Company and its associated companies and not do
anything which is harmful to them;

2.4      travel to such places
(whether in or outside the Republic) and in such
manner and on such occasions as the Company may from
time to time reasonably require; and

2.5      comply with all the
Company's reasonable rules, regulations, policies,
practices and procedures as laid down and amended from
time to time for the efficient and harmonious
operation of the Company's business.

<PAGE>

3                    REMUNERATION

3.1      As remuneration for
the services to be rendered by the Executive in terms
of this agreement, and with effect from 1st April 2004,
the Executive shall receive an all-inclusive annual
remuneration package, the total cost of which to the
Company shall be R1 200 000,00(One million two hundred
thousand rand). The Executive will be permitted to
insure not more than two private vehicles under the
Company's group insurance scheme on which tax will be
paid on the deemed benefit. Subject to the applicable
legal provisions, and by agreement between the
parties, this remuneration may be structured in a tax
efficient manner. Subject to clauses   3.3.2 , 3.3.3
and 3.6, the Executive shall receive no other
remuneration or benefits and shall be liable for the
payment of any insurance contributions and
contributions to medical aid schemes and
pension/provident funds.

3.2      It is recorded that
the remuneration paid to the Executive by the Company
prior to 1 April was the equivalent of that paid to
the Executive by Consultation work for Investpro
Commodities Pty Ltd prior to his taking up employment
with the Company.

3.3      The remuneration
package referred to in clause Error! Reference source
not found.:

         3.3.1
does not include the reimbursement of bona fide
business expenditure such as business travel
claims;

         3.3.2
does not include such annual bonuses as the board
may, in its sole discretion, award to the
Executive; and

         3.3.3
will be payable up to and including June 2005,
after which it will be reviewed by the
Remuneration Committee with the principal
intention of applying an inflation related
adjustment, but which  will also take into
account market-related packages at the time of
such review and the performance and experience of
the Executive.

3.4      Notwithstanding
anything to the contrary contained in the Articles of
Association of the Company or that of any of its
associated companies from time to time, the Executive
shall  be entitled to receive any  remuneration,
either as an ordinary or executive director or
employee of the Company or any of its associated
companies, and the Executive shall, as the Company may
direct, either waive his right to any such
remuneration or shall account for and pay over the
same to the Company immediately on his receipt
thereof.

3.5      The Company shall
reimburse to the Executive all such reasonable
disbursements and expenses that he may incur in the
fulfilment of his obligations in terms of this
agreement, which reasonableness shall be determined by
the Remuneration Committee in its discretion.

3.6      The Executive will
participate in a management share trust scheme which
is currently being established.

<PAGE>

4                    LEAVE AND SICK LEAVE

4.1      The Executive shall be
entitled to 30 (thirty) working days leave on full pay
after every 12 (twelve) months of completed service in
terms of this agreement, which leave shall be taken at
a time convenient to the Company. Any leave
entitlement that is not taken may be accumulated up to
a maximum of 25 (twenty five) days or encashed at the
pro-rata value of the gross annual remuneration
package referred to in  clause 3.1  and as amended in
terms of  clause 3.3.3.

4.2      Sick leave shall be
granted in terms of the provisions of the  Company's
sick leave policies as formulated from time to time

<PAGE>

5                    BOARD INFORMATION

The Executive shall at all times promptly give to the board,
in writing if so requested, all such information and
explanations as it may require in connection with matters
relating to his employment in terms of this agreement or
with the business of the Company or any of its associated
companies from time to time.

6                    CONFIDENTIALITY

The Executive shall not use in any manner and for any
purpose whatsoever, or divulge or disclose to any person,
firm or organisation whatsoever, (except as required by his
employment), any confidential, commercial, financial or
technical information relating to the affairs of the
Company or any associated company. This restriction shall
remain in force after the termination of the Executive's
employment, for any reason whatsoever, without time limit,
but will not apply to information which is or comes into
the public domain otherwise than through the Executive's
unauthorised disclosure.

7                    BOOKS OF ACCOUNT

7.1      All books of account,
records, papers, correspondence and documents
concerning or containing any reference to the Company
or its affairs in the Executive's  possession shall be
deemed to be the property of the Company and shall be
given up to the Company whenever the Executive is
required to do so by the Company and, in any event, on
the termination of  the Executive's employment with
the Company. No copies of such books of account,
records, papers, correspondence and documents shall be
kept by the Executive.

7.2      The above shall also
apply to records and information stored
electronically.

7.3      This clause shall also
apply to books of account, records, papers,
correspondence and documents, as well as
electronically stored information concerning, or
containing reference to, any  associated company.

7.4      For the purposes of
this clause and this agreement an associated company
shall include, unless the context dictates otherwise,
a company which is from time to time a subsidiary or a
holding company (as those expressions are defined in
the Companies Act, 61 of 1973) of the Company or a
subsidiary (other than the Company) of a holding
company of the Company;

<PAGE>

8                     TERMINATION

8.1      This agreement may be
terminated by either party   giving the other party 3
(three) months' written notice of termination.

8.2      Should  notice in
terms of clause 8.1 be given by the Executive, the
Company may elect not to require the Executive to
perform his duties and functions during the period of
notice, provided that the Executive is paid his full
remuneration during the period of notice.

8.3      Should notice in terms
of clause 8.1 be given by the Company, the Company may
elect not to require the Executive to perform his
duties and functions during the period of notice,
provided that the Executive is paid his full
remuneration during the period of notice. The Company
may also pay the Executive three  months' remuneration
in lieu of giving notice, in which event this contract
will terminate immediately on the date on which notice
is given  of this decision.

8.4      The Company shall have
the right to cancel this agreement summarily at any
time if the Executive:

         8.4.1
commits a material breach of his obligations
under this agreement; or

         8.4.2
is incapacitated (for any reason whatsoever) from
performing all or any of his duties under this
agreement for 4 (four) consecutive months or for
periods aggregating 6 (six) months in any 12
(twelve) consecutive months.

<PAGE>

8.5      In the event of there
being a change of effective control of the Company
within 18 (eighteen) months from the date of
commencement of this agreement, the Executive will
continue to receive the same terms and conditions of
employment as those that existed at the date of the
change of effective control for a period of not less
than 12 (twelve) months calculated from the date of
change of effective control of the Company. The
employment of the Executive shall also not be
terminated on the basis of the operational
requirements of the business during this 12 month
period unless the Executive  is paid his full
remuneration for that portion of the 12 month period
that has not expired.

8.6      For the purposes of
this agreement  there will be a change of effective
control of the Company if the Company's current
holding Company, Centurion Gold Holdings Inc, ceases
to control the Company.

8.7      The parties record
that the Executive was previously employed by
Investpro Commodities.

8.8      In the event of the
Executive's employment being terminated on the basis
of the operational requirements of the Company the
Executive shall receive not less than one months
remuneration for the first year of service and
thereafter 2 weeks' remuneration (as payable to the
Executive on the date of the termination) for every
year of completed service or pro-rata thereof with the
Company. In addition to the above severance benefit,
the Company will pay the Executive an inflation
adjustment to the amount specified in terms of
Annexure A (refer clause 8.7) which will be calculated
by applying the same ratio as the remuneration on
termination to the remuneration referred to in clause
3.1 of this agreement.

<PAGE>

9                    DOMICILIUM AND NOTICES

9.1      Each party chooses the
address set out below as the address at which all
notices, legal process and other communications must
be delivered for the purposes of this agreement:

The Company                     2nd Floor WestTower
				Nelson Mandela Sqare
				SandtonJohannesburg
				SouthAfrica

The Executive                   12 Main Reef Road
                                Primrose
				Germiston South Africa

9.2      Any notice or
communication given in terms of this agreement shall
be valid and effective only if in writing but it shall
be competent to give notice by telefax.

9.3      Any notice to a party
contained in a correctly addressed envelope and:

         9.3.1
sent by prepaid registered post to it at its
chosen address; or

         9.3.2
delivered by hand to a responsible person during
ordinary business hours at its chosen address,

         9.3.3
shall be deemed to have been received, in the
case of clause 9.3.1, on the 7th (seventh)
business day after posting (unless the contrary
is proved) and, in the case of clause 9.3.2 on
the day of delivery.

9.4      Any notice sent by
telefax to a party at its telefax number shall be
deemed, unless the contrary is proved, to have been
received on the first business day after it is
transmitted.

9.5      The parties shall be
entitled at any time to change their addresses for the
purposes of this clause Error! Reference source not
found. to any other address in the Republic of South
Africa by giving written notice to that effect to the
other.

<PAGE>

10               GENERAL

10.1     Any latitude or extension
of time that may be allowed by any party shall not
under any circumstances whatsoever act as an estoppel
or be a waiver of that party's rights hereunder.

10.2     The parties to this
agreement undertake to treat all matters relating to
this agreement and the annexures hereto as being
confidential and, therefore, shall not, without the
written approval of the other, disclose the provisions
hereof to any third party.

10.3     This agreement
constitutes the entire contract between the parties as
regards the employment of the Executive and the terms
and conditions on which employment takes place,  and
no other conditions, warranties, guarantees and
representations shall be of any force or effect other
than those that are included herein.

10.4     No alteration or
variation to this agreement shall be of any force or
effect unless it is recorded in writing and signed by
both parties to this agreement.

10.5     All the transactions and
arrangements contemplated in this agreement constitute
one indivisible transaction.

<PAGE>

11               COSTS

The costs of and incidental to the negotiating and drafting
of this agreement shall be borne by the Company.

Signed at ____________________________ on
____________________________ 2004

for and on behalf of The Company:
____________________________________
a director duly authorised

Signed at ____________________________ on
____________________________ 2004

	____________________________________
	The Executive

<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00068-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00068-of-00352.parquet"}]]