CENTAURUS METALS LIMITED — Board/Management Information 2019

Nov 20, 2019

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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21 November 2019

NEW SENIOR MANAGEMENT APPOINTMENTS TO DRIVE NICKEL EXPLORATION AND DEVELOPMENT STRATEGY

Appointment of new senior executives and specialist consultants to lead the exploration and development of the 100%-owned Jaguar Nickel Project in northern Brazil

• ➢ New senior management personnel and specialist consultants appointed to help drive the Company’s nickel exploration and development strategy, centred on the newly-acquired Jaguar Nickel Project:

  • ➢ John Westdorp – appointed as Chief Financial Officer.

  • ➢ Roger Fitzhardinge – appointed as Operations Manager – Nickel.

  • ➢ John Knoblauch – engaged as Principal Metallurgist.

  • ➢ Grant “Rocky” Osborne – engaged as Principal Geoscientist.

• ➢ Maiden drilling program at Jaguar progressing on schedule, with first assay results expected by midDecember 2019.

Centaurus Metals (ASX Code: CTM ) is pleased to announce a series of new senior appointments to lead the Company’s nickel exploration and development strategy centred on the recently-acquired Jaguar Nickel Sulphide Project in northern Brazil.

Experienced senior executive John Westdorp has been appointed as Chief Financial Officer (CFO) and will also transition to the role of Company Secretary when Paul Bridson steps down in early 2020.

Mr Westdorp was previously CFO and Company Secretary of Centaurus between 2012 and 2015, and has since held the role of CFO and Interim Chief Executive Officer of mineral sands producer, MZI Resources Ltd. During his time with MZI, he led the divestment of the Keysbrook Project after an extensive buyer due diligence and negotiation process.

Mr Westdorp has a strong depth of experience in the resource sector, stretching across 25 years, with previous senior finance roles with Murchison Metals, Burrup Fertilisers, Normandy Mining/Newmont and multiple North Limited operating entities in Australia and overseas. Mr Westdorp has deep experience in project financing, development and operations, as well as commercial transactions, including significant international experience.

Roger Fitzhardinge has been appointed as Operations Manager – Nickel . Mr Fitzhardinge is a geologist with 20 years’ experience in the exploration and mining industry, including almost 10 years with Centaurus, where he was originally appointed as Senior Geologist and subsequently as Exploration Manager. Mr Fitzhardinge has extensive nickel sulphide experience in Brazil, having previously worked on the exploration, implementation and operation of Mirabela Nickel’s Santa Rita nickel sulphide mine. Mr Fitzhardinge has worked in Brazil since 2005 and is bi-lingual in Portuguese and English.

Australian Office Centaurus Metals Limited Level 3, 10 Outram St WEST PERTH WA 6005

Brazilian Office Centaurus Brasil Mineração Ltda Avenida Barão Homem de Melo, 4391 Salas 606 e 607 - Estoril Belo Horizonte - MG - CEP: 30.494.275 BRAZIL

ASX: CTM ACN 009 468 099 office@centaurus.com.au Telephone: +61 8 6424 8420

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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John Knoblauch has been engaged as Principal Metallurgist . Mr Knoblauch has considerable experience in the management of metallurgical test work programs and process flow sheet development, including most recently almost 10 years with mid-tier copper producer Sandfire Resources, where he held the roles of Senior Project/Process Engineer and subsequently Principal Metallurgist.

Mr Knoblauch has a strong understanding of both nickel sulphides and the Brazil operating environment, with previous roles as the in-country Project Superintendent at Mirabela Nickel’s Santa Rita Project in Brazil and Group Process Engineer at Sally Malay Mining’s (Panoramic) nickel mining operations.

Grant “Rocky” Osborne has been engaged as Principal Geoscientist . Mr Osborne is a highly respected mining professional with over 40 years’ experience in international mineral exploration and underground mining, with particular expertise in nickel and gold. While working for BP Minerals in Australia and Brazil in the 1980s, he was responsible for the discovery of the Rocky’s Reward nickel mine (WA).

In 1989, he joined WMC in Brazil as senior geologist, rising to the rank of Principal Geologist, where he headed the teams responsible for the discovery of the Boa Vista nickel deposit and Sertão gold mines in Brazil, and was involved in global nickel sulphide targeting in Africa, Canada, China and South America. Mr Osborne has worked with the Mitchell River Group as Chief Geologist for affiliated companies Albidon Limited and Mirabela Nickel Limited. He is fluent in both Portuguese and English.

Commenting on the appointments, Centaurus’ Managing Director, Mr Darren Gordon, said:

“These new senior appointments provide us with a top-quality team to manage the exploration and development of the Jaguar Nickel Project from day one. Each of our new appointees offers very strong skills and experience across their respective areas, with particular emphasis on nickel sulphides and the Brazilian operating environment.

“I would also like to take this opportunity to thank Paul Bridson for his contribution to the Company over the past three years. Paul has been a loyal and hard-working Company Secretary, but with the growing number of corporate and administrative activities we have in front of us as we undertake the work required to finance and develop the Jaguar Project over the next couple of years, it is important that we now have full time in-house capabilities in this area, and we are pleased to welcome John Westdorp back to the Company to oversee this important part of our business.

“With results from our maiden drilling program expected within the next few weeks, our new management and technical team ensures we are exceptionally well placed to maintain an aggressive exploration program at Jaguar and fast-track the project towards development.”

-ENDS-

Released By: Nicholas Read Read Corporate Mb: (+61) 419 929 046 Tel: (+61-8) 9388 1474

On behalf of:

Mr Darren Gordon Managing Director Centaurus Metals Ltd Tel: (+61-8) 6424 8420