CENTAURUS METALS LIMITED — Capital/Financing Update 2013

Mar 10, 2013

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

==> picture [123 x 56] intentionally omitted <==

11 March 2013

CENTAURUS AWARDS JAMBREIRO ENGINEERING AND PROCUREMENT CONTRACT TO GLOBAL ENGINEERING FIRM

ANOTHER KEY STEP TOWARDS THE START OF CONSTRUCTION AT BRAZILIAN IRON ORE PROJECT

Centaurus Metals (ASX Code: CTM ) is pleased to announce that it has awarded the Detailed Engineering & Procurement (EP) Contract for the implementation of its flagship Jambreiro Iron Ore Project in south‐eastern Brazil to a unit of the leading global consulting, engineering and technical services group Tetra Tech , marking another important step towards the start of development.

The contract – which is the second major contract to be let for the Jambreiro Project – has been awarded to Tetra Tech do Brasil Minérios e Metais Ltda , the Brazilian subsidiary of Tetra Tech.

Tetra Tech is listed on the Nasdaq with over 350 offices worldwide and their Brazilian office has a very strong track record in the delivery of services to the domestic iron ore sector.

The award of the EP Contract follows the recent award of the Management Support Contract to MCA Auditoria e Gerenciamento (MCA), a leading Brazilian management group based in the regional centre of Belo Horizonte ( see ASX Announcement – 14 February 2013 ).

The award of the contract is consistent with Centaurus’ development schedule for the Jambreiro Project, and will ensure the issue of sufficient detailed construction drawings and work scopes to allow for the mobilization of civil construction contractors to site on approval of the final Installation Licence (LI), which is anticipated to be received in April 2013.

Tetra Tech will bring specialist engineering, procurement, construction and commissioning support services to implement the Jambreiro Project, drawing on an extensive bank of experience in working closely with clients to deliver high quality detailed engineering design and procurement services which ultimately allow for the commissioning of projects on time and on budget.

Tetra Tech is, or has recently, worked on a number of Brazilian resource projects including:

CUSTOMER	PROJECTS	SCOPE OF WORKS
Outotec Tecnologia BrasilLtda	Third and Fourth (iron ore)pelletizing plant of Samarco	Basic and detailed engineering
	Sintering unit of CSA – CompanhiaSiderúrgica do Atlântico	Basic and detailed engineering
Yamana Gold Inc.	Chapada Copper and Gold Project	Basic and detailed engineeringforprimarycrusher
	Pilar Gold Project	Detailed engineering
Anglo American Iron OreBrasil	Minas‐Rio Iron Ore Project	Construction Management of beneficiation plantand filteringarea.
Crusader Resources Ltd	Borborema Gold Project	Basic engineeringand FeasibilityStudy
Carpathian Gold Inc.	Riacho dos Machados Gold Project	Construction Management of projectimplementation andprocurement
Jaguar Mining Inc.	Caeté and Gurupi Gold Projectamongothers	Conceptual, basic and detailed engineering

==> picture [510 x 79] intentionally omitted <==

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

==> picture [58 x 38] intentionally omitted <==

Centaurus’ Managing Director, Mr Darren Gordon, said the Brazilian office of Tetra Tech was ideally suited to the EP role at Jambreiro, drawing on a strong track record of providing Engineering & Procurement services to resource projects of similar size and scale, including both iron ore and gold projects of similar size.

“This gives us confidence in their delivery capabilities and experience in effectively implementing iron ore projects on time and on budget,” he said. “We look forward to working with Tetra Tech in the delivery of the Jambreiro Project development.

“The award of the Management Support and EP contracts, together with the start of the long‐lead procurement process, puts us in a strong position to achieve our development timetable, which is based on delivering first product by the end of the calendar year.”

Discussions to secure finance for the Jambreiro Project are progressing well with a Final Investment Decision and commitment to the full capital budget to be delivered upon finalisation of the overall funding mix.

‐ENDS‐

On behalf of:

Released By: On behalf of: Nicholas Read Mr Darren Gordon Read Corporate Managing Director Mb: (+61) 419 929 046 Centaurus Metals Ltd Tel: (+61‐8) 9388 1474 Tel: (+61‐8) 9420 4000

About Centaurus

Centaurus is an emerging international iron ore company focused on developing a profitable domestic and export iron ore business in the iron ore rich, steel hungry region of south‐east Brazil. Centaurus has a portfolio of highly prospective iron ore projects in this region including the flagship Jambreiro Project, which is expected to form the cornerstone of the Company’s Domestic Iron Ore Strategy.

This Strategy is based on cost effectively beneficiating itabirite‐hosted iron ore deposits to produce a high‐quality, high‐grade product for sale to the domestic steel industry. The Company is aiming to ramp‐up production to 2Mtpa of high‐grade hematite by developing and operating a low Capex/ low Opex mine at the Jambreiro Project by the end of 2013, establishing itself as a long‐term supply partner to the domestic Brazilian steel industry.

==> picture [510 x 79] intentionally omitted <==