CENTAURUS METALS LIMITED — Capital/Financing Update 2003

Aug 19, 2003

20 August 2003

Manager Company Announcements Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000

Dear Sir

ANNOUNCEMENT PLACEMENT OF 16,000,000 ORDINARY SHARES AT 3.2 CENTS PER SHARE

The directors of Glengarry Resources Limited are pleased to announce that the placement of 16,000,000 ordinary shares is fully subscribed and the issue is now closed. The company will now proceed to allotment and the issue of appropriate holding statements. The Despatch Date will be Wednesday 27 August 2003.

The directors appreciate the strong support given by current shareholders and other private investors.

Yours faithfully

Charit

ALLANT HARRIS Director