CENTAURUS METALS LIMITED — Board/Management Information 2009

Jun 15, 2009

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16 June 2009

Dear Fellow Shareholder

GLENGARRY RESOURCES LIMITED ‐ COMPANY UPDATE

It is with great pleasure that I write to you today to introduce myself and outline the Company’s new plan to add value for shareholders over the next 6 to 12 months.

The Company has gone through a number of changes over the last month including my appointment to the position of Managing Director. I am 37 years old, married and have a nine year old daughter. I have spent the last 15 years in the resources sector, 9 years of which was as Chief Financial Officer of Gindalbie Metals Ltd. I have a strong belief in what can be achieved at Glengarry and this belief has been backed by me taking a 15% interest in the Company in April this year.

We have a dynamic Board with a strong mix of experiences but importantly all Directors have extensive experience in the resource sector.

The Board now comprises:

• Mr Keith McKay – Non Executive Chairman

• Mr Darren Gordon – Managing Director

• Mr Geoff Clifford – Non Executive Director

• Mr Didier Murcia – Non Executive Director

The Company’s directors are committed to achieving the established plan for the Company through proactive contribution, in addition to their normal director’s duties. Board Members have been encouraged to use their strong resource industry networks to identify potential quality opportunities.

Our revised business strategy is to focus on securing a new project that is capable of being developed within 18 to 24 months to deliver a strong cash flow to the Company. The preference is for gold, iron ore or base metal projects that already have an established resource and which can be acquired at the asset level. Whilst our initial focus is on high grade projects with low capital costs, the key is looking for projects that have the potential to be profitable for Glengarry.

We have commenced the search for a project or projects in line with our newly formed strategy and I am confident that we will secure an asset that fits the established parameters in the next 6 months.

GLENGARRY RESOURCES LIMITED ABN 40 009 468 099 Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510 PO Box 975 West Perth WA 6872 35 Havelock Street West Perth WA 6005 Website: www.glengarry.com.au Email: info@glengarry.com.au

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We intend to make our cash reserves work to add value for all shareholders.

Our new business plan is not dissimilar to what a number of other companies are trying to achieve in the market, but our strength in assessing opportunities is our high quality Board and relatively strong cash position of just under $10 million.

Over the last month I have also undertaken a full review of the Company’s cost structure to ensure that our cash reserves are being applied in the most effective manner. A number of cost reductions were identified and have been implemented including a reduction in the overall organizational structure. The change to the structure has resulted in reduced ongoing salary costs, including the fees paid to Non Executive Directors.

In respect to our existing Projects, we are currently reviewing the timing of future work programs as the Projects do not presently meet our newly established criteria for the allocation of exploration dollars. Consequently, we do not expect to spend any funds on the Citadel or Percyvale Projects over the next 6 months but will continue to look at ways to extract value on them over this period.

As part of ensuring our objectives of adding value for shareholders are delivered in a timely manner, it is my belief that our Non Executive Directors should have share options in the Company. In this regard we have called a Shareholder’s Meeting to seek approval for the issue of options to Directors. The quantum and terms of these options are set out in the Notice of Meeting and I encourage you to vote in favour of the proposed issues.

Please take the time to consider the matters set out in the Notice of Meeting. Should you have any queries in respect to the Notice of Meeting please contact our Company Secretary, Mr Geoff James, or me.

It is a new beginning for Glengarry and I will be working very hard to deliver results and add value for shareholders after what has been a pretty lean year from a share price perspective. With my equity interest in the Company, you should have no doubt that I am aligned with your interests in the Company.

I welcome shareholder feedback so please feel free to contact me at any time.

Yours faithfully GLENGARRY RESOURCES LIMITED

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DARREN GORDON Managing Director