CENTAURUS METALS LIMITED - Capital/Financing Update 2011

13 April 2011

==> picture [46 x 61] intentionally omitted <==

==> picture [55 x 61] intentionally omitted <==

==> picture [26 x 61] intentionally omitted <==

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

CEN T AURUS BEC O MES M AJOR S HARE H OLDE R IN NE W EXPL O RATIO N COM P ANY A NTIPA MINER A LS DI V ESTMENT O F NON‐CO R E WA COPP E R‐GOLD PR O JECT COM P LETED AS A N TIPA PREP A RES FOR A S X LISTING

Int e rnational ir o n ore co m pany Centaurus Metal s Ltd (ASX C ode: CTM) is pleased to announ c e that the div e stment of its non‐core Citadel Gold‐Copper Project in Western Aust r alia to ne w exploratio n company Antipa Minerals Ltd (“Anti p a” – ASX C ode: AZY) h as been co m pleted with the explo r er poised t o make its debut on the A S X later this m onth.

Centaurus will e merge with an 8% holding in Antip a upon listin g , with the l a st conditio n of the sale agreement – b e ing conditi o nal approval from the A S X for listin g to proceed – now satis f ied.

In c o nsideratio n for the sal e of the Cita d el Gold‐Pro j ect, which i s located in t he Paterso n Province o f WA which hos t s world‐cla s s deposits such as Tel f er, Nifty and Kintyre, C entaurus received con s ideration o f 6,250,000 sha r es with a f r ee attachin g option for every two shares held. T he options have an ex e rcise price o f 25 cents and expire on 1 2 April 2014 .

Ant i pa has suc c essfully rai s ed $10 million through Bell Potter and South e rn Cross E q uities and is currently sch e duled to lis t on the ASX later this m o nth.

Centaurus’ shar e s and opti o ns in Antipa will be escr o wed for 12 months.

Centaurus’ Ma n aging Dire c tor, Mr Darren Gordo n , said: “ W e are pleased that An t ipa has be e n able to co m plete its IP O on the ba s is of the hi g h‐quality C itadel Proje c t. The well‐respected s e nior resource industry exe c utives at A n tipa have a proven trac k record of s u ccessful ex p loration an d developm e nt activity a nd we look for w ard to the m progressin g the Citade l asset in the months an d years ahea d .

“Th e divestmen t of the Citadel Project p rovides Centaurus shar e holders wit h good valu e for an ass e t that was non‐core to our developing i ron ore business in Braz i l, through o u r 8% share h olding in A n tipa Miner a ls.

“Th i s provides u s with ong o ing exposu r e to Antip a ’s explorati o n success o n the Proje c t while all o wing us to foc u s on our bu s iness in Br a zil, where we have a str o ng resourc e base that u nderpins o u r plans to b e supplying 3M t pa of high‐ g rade hematite to the domestic steel industry in B razil by the end of 2013 .”

==> picture [33 x 83] intentionally omitted <==

‐ENDS‐

On behalf of:

Released By: Nic h olas Read Rea d Corporate Mb: (+61) 419 92 9 046 Tel: (+61‐8) 9388 1474

Mr Darren Gordon Managing Director Centaurus M etals Ltd Tel: (+61‐8) 9 420 4000

==> picture [46 x 73] intentionally omitted <==

==> picture [4 x 73] intentionally omitted <==