CENTAURUS METALS LIMITED — Capital/Financing Update 2011

Sep 1, 2011

Appendix 3B New issue announcement

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

CENTAURUS METALS 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).

• 1 +Class of +securities issued or to be Ordinary shares issued Unlisted options to acquire ordinary shares

• 2 Number of[+] securities issued or to 7,000,000 ordinary shares fully paid be issued (if known) or maximum 300,000 options number which may be issued

• 3 Principal terms of the[+] securities Ordinary shares fully paid, rank equally with existing (eg, if options, exercise price and ordinary shares. expiry date; if partly paid Options expire 29 August 2015, exercisable at 10 +securities, the amount outstanding cents, 50,000 vested, 250,000 vesting on and due dates for payment; if satisfaction of performance based hurdles. +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

Appendix 3B Page 1

4 Do the[+] securities rank equally in all Yes 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 5 Issue price or consideration 6,000,000 shares @ 3.125 cents per share 1,000,000 shares @ 8 cents per share 6 Purpose of the issue 7,000,000 shares issued pursuant to exercise of (If issued as consideration for the options. acquisition of assets, clearly identify 300,000 options issued under the Company’s those assets) Employee Share Option Plan. 7 Dates of entering[+] securities into 1 September 2011 uncertificated holdings or despatch of certificates Number +Class 8 Number and +class of all 965,998,637 Ordinary +securities quoted on ASX ( including the securities in clause 2 if applicable)

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	Number	+Class
	Unlisted Options - Refer Appendix 1
	Not applicable

Part 2 - Deleted – Not Applicable

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 (ordinary shares only) ]

(b)[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

• 35[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

36[If the ] +securities setting out the number of holders in the categories[+][securities are ][+][equity securities, a distribution schedule of the additional ] 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.

Appendix 3B Page 3

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 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.

• 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.

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Sign here: ............................................................ Date: 2 September 2011 Company Secretary

Print name: Geoff James

== == == == ==

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Centaurus Metals Limited Appendix 1 - Options

Expiry date	Exerciseprice	Employee Options	Employee Options	Non - Employee Options	Non - Employee Options	Total number of shares under option
		Vested	Unvested	Vested	Unvested
27/11/2011 06/01/2012 19/03/2012 19/03/2012 04/08/2012 20/11/2012 20/11/2012 20/11/2012 14/02/2013 01/10/2013 15/12/2013 15/12/2013 15/12/2013 31/12/2013 31/12/2013 01/01/2014 17/07/2014 17/07/2014 17/07/2014 17/07/2014 31/08/2014 31/08/2014 31/08/2014 01/10/2014 31/10/2014 17/01/2015 15/02/2015 06/03/2015 31/03/2015 31/03/2015 31/03/2015 01/06/2015 19/07/2015 29/08/2015 30/11/2015 04/02/2016	$0.12500 $0.12500 $0.11500 $0.13500 $0.03125 $0.20500 $0.24500 $0.28500 $0.10000 $0.11000 $0.10000 $0.12000 $0.14000 $0.08000 $0.15000 $0.13000 $0.05000 $0.07500 $0.10000 $0.12000 $0.10000 $0.12000 $0.15000 $0.11000 $0.07000 $0.13000 $0.08000 $0.13000 $0.08000 $0.10000 $0.12000 $0.13000 $0.09500 $0.10000 $0.11000 $0.13000	- - 250,000 500,000 - 500,000 500,000 500,000 - 200,000 250,000 250,000 500,000 1,200,000 2,600,000 - 1,000,000 2,750,000 3,250,000 - - - - 450,000 8,000,000 50,000 150,000 100,000 500,000 - 500,000 50,000 100,000 50,000 - 300,000	- - - - - - - - - - - - - 1,200,000 - - - - - 1,000,000 - - - 1,300,000 8,000,000 250,000 2,350,000 - 2,000,000 500,000 - 250,000 600,000 250,000 1,000,000 1,200,000	12,000,000 3,519,392 - - 24,000,000 - - - 16,000,000 - - - - - - - - - - - 5,000,000 - 16,000,000 - - - - - - - - - - - -	- - - - - - - - - - - - - - - 1,000,000 - - - - - 5,000,000 - - - - - - - - - - - - -	12,000,000 3,519,392 250,000 500,000 24,000,000 500,000 500,000 500,000 16,000,000 200,000 250,000 250,000 500,000 2,400,000 2,600,000 1,000,000 1,000,000 2,750,000 3,250,000 1,000,000 5,000,000 5,000,000 16,000,000 1,750,000 16,000,000 300,000 2,500,000 100,000 2,500,000 500,000 500,000 300,000 700,000 300,000 1,000,000 1,500,000
Total		24,500,000	19,900,000	76,519,392	6,000,000	126,919,392

• See chapter 19 for defined terms.

Appendix 3B Page 5