CENTAURUS METALS LIMITED — Capital/Financing Update 2006

Sep 25, 2006

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

GLENGARRY RESOURCES LIMITED

ABN

40 009 468 099

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued

Ordinary shares

• $\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if securities, *convertible the conversion price and dates for conversion)

24,000,000

Ordinary shares

⁺ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities?	Yes
	If the additional securities do not rank equally, please state: the date from which they do to which the extent they participate for the next dividend, оf the case (in ā trust. distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	4.2 cents per share
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	To provide funds for further exploration at the Greenvale and Cannington Projects
7	Dates of entering *securities into uncertificated holdings or despatch of certificates	26 September 2006
		Number	$+C$ lass
8	Number and +class of all *securities quoted on ASX. (including the securities in clause 2 if applicable)	232,866,528	Ordinary

⁺ See chapter 19 for defined terms.

$\overline{9}$ Number and ⁺class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)

Number	*Class
500,000	Options exercisable at 15 cents
	and expiring 30 June 2007
500,000	Options exercisable at 15 cents
	and expiring 1 September 2007
1,450,000	Options exercisable at 11 cents
	and expiring 10 April 2011
1,100,000	Options exercisable at 13 cents
	and expiring 10 April 2011
2,200,000	Options exercisable at 15 cents
	and expiring 10 April 2011

Dividend policy (in the case of a Not applicable $10₁$ trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11	security holder approval Īš required?
12	Is the issue renounceable or non- renounceable?
13	Ratio in which the + securities will be offered
14	+ Class of + securities to which the offer relates
15	+ Record determine date tо entitlements
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?
17	Policy for deciding entitlements in relation to fractions
18	Names of countries in which the entity has *security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

$+$ See chapter 19 for defined terms.

Appendix 3B New issue announcement

20 Names of any underwriters Amount of any underwriting fee or 21 commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 of any handling fee Amount payable to brokers who lodge acceptances or renunciations on behalf of security holders 25. If the issue is contingent on security holders' approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do "security holders sell their entitlements in full through a broker? How do + security holders sell part 31 of their entitlements through a broker and accept for the balance?	19	Closing date for receipt οſ acceptances or renunciations

⁺ See chapter 19 for defined terms.

• 32 How do *security holders dispose of their entitlements (except by sale through a broker)?
• 33 ⁺Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• $(a)$ Securities described in Part 1
• $(b)$

35

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• If the "securities are "equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• If the *securities are *equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over 37
• A copy of any trust deed for the additional *securities

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

• 38 Number of securities for which ⁺quotation is sought
• 39 Class of *securities for which quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing *class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• $41$ Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Number	+ Class

Ouotation agreement

• $\mathbf{I}$ *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

...................................... Joint Company secretary

Print name: Janelle Burns

......................................

⁺ See chapter 19 for defined terms.

For release to the market

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

Issuer: Glengarry Resources Limited ACN 009 468 099

Details of the issue of offer of securities:

Class of securities	Ordinary
ASX Code of the securities	-GGY
Date of the issue of the securities	26 September 2006
Total number of securities issued	24,000,000

Notice:

• 1. Glengarry Resources Limited gives ASX (as the relevant market operator) notice relating to the issue of the securities identified above.
• 1. This notice is given under paragraph 5(e) of Section 708A of the Corporations Act 2001 (Cth).
• 1. Glengarry Resources Limited issued the securities identified above without disclosure to investor5s under Part 6D.2 of the Corporations Act 2001 (Cth).
• 1. As at the date of this notice, Glengarry Resources Limited has complied with:
• (a) the provisions of Chapter 2M of the Corporations Act 2001 (Cth) as they apply to it; and
• (b) Section 674 of the Corporations Act 2001 (Cth).
• 1. There is no excluded information (as defined in Section 708A(7) and (8) of the Corporations Act 2001 (Cth) as at the date of this notice.

Janelle Burns Joint Company Secretary Glengarry Resources Limited

Date of notice: 26 September 2006

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Glengarry Resources Limited
IABN	40 009 468 099

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Darren Peter Gordon
Date of last notice	14 March 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	D & N Gordon Superannuation Fund
(including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	25 September 2006
No. of securities held prior to change	Nil
Class	Ordinary shares
Number acquired	350,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$15,520
No. of securities held after change	350,000

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of	On-market trade
securities under dividend reinvestment plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

26 September 2006

⁺ See chapter 19 for defined terms.