CENTAURUS METALS LIMITED — Capital/Financing Update 2008

Jun 9, 2008

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10 June 2008

Company Announcements Office Australian Stock Exchange Ltd 4th Floor, 20 Bridge Street SYDNEY NSW 2000

ABN 36 008 988 583 Second Floor, 24 Outram Street West Perth Western Australia 6005 PO Box 1320 West Perth, WA 6872 Tel: + 61 8 9481 1211 Fax: + 61 8 9481 1233 E-mail: admin@kagara.com.au Web: www.kagara.com.au

Kagara Purchases Maitland Copper Deposit

Kagara Ltd is pleased to announce that subject to the approval of Glengarry shareholders, it will purchase the Maitland copper deposit and associated tenements from Glengarry Resources Limited for $6.5 million and a A$5 per tonne royalty on ore processed in excess of one million tonnes. The Maitland deposit, which is located 60 kilometres to the south-west of Kagara’s Balcooma mining operations, has a current indicated and inferred resource of 1.5 million tonnes grading 1.5% copper including a high grade molybdenum resource of 115,000 tonnes at 0.17% molybdenum and is open at depth. Kagara, subject to regulatory approval, will develop a satellite operation at Maitland and truck ore to the Thalanga mill, which is located to the west of Charters Towers, for processing.

Kagara looks forward to a continuing relationship with Glengarry and is fully supportive of Glengarry’s exploration focus on the existing Citadel copper-gold project in the Telfer region of Western Australia.

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KIM ROBINSON Executive Chairman

This report, so far as it pertains to ore and mineralisation, is based on information compiled by and as reported upon by Mr Joe Treacy, an employee of Kagara Ltd, and who is a member of the Australian Institute of Geoscientists and has over five years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Treacy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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