CENTAURUS METALS LIMITED — Capital/Financing Update 2015

Nov 29, 2015

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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30 November 2015

Centaurus Completes Capital Raising with Share Purchase Plan Closing Oversubscribed

Strongly supported SPP and recent share placement raises a total of $700,000 to underpin upcoming copper exploration program in NE Brazil

Centaurus Metals (ASX Code: CTM ) is pleased to announce that it has successfully raised a total of $700,000 after closing its Share Purchase Plan (SPP) oversubscribed and completing a recent strategic share placement.

The SPP was strongly supported by shareholders, including directors and senior management, with total applications for $502,400 received. In conjunction with the private placement monies of $200,000 already received from Mr Ingo Wender, the President of the Company’s new Strategic Alliance partner in Brazil, Terrativa Minerais SA (“Terrativa”), the Company has been able to raise a total of $700,000.

The funds raised will underpin the Company’s ongoing exploration activities in Brazil which in the near term will predominantly be focussed on the newly acquired and highly prospective Aurora Copper Project in the Brazilian State of Ceará.

The funding from the SPP and Share Placement, together with the proceeds from the transaction on the Candonga Project (~$1.6 million in total being paid in monthly instalments until May 2016[1] ), will also strengthen the Company’s working capital position, giving it the ability to pursue divestment options for its other iron ore projects, which are expected to provide longer term funding to advance its diversification strategy.

The SPP was underwritten by Paterson Securities Limited to an amount of $350,000. However, given the strong level of support and take-up by existing shareholders of the Company, no shortfall has occurred and no shares will need to be placed to the Underwriter.

The Board of Centaurus has agreed to accept all SPP applications from shareholders and the shares will be allotted to shareholders today.

The Issue Price of the shares has been calculated to be $0.0059 per share, being a 20% discount to the Volume Weighted Average Price (VWAP) of the Company’s shares in the five trading days immediately prior to the allotment of shares of $0.00736. This issue price will be applied to both the private Share Placement and the SPP.

As a result, the Company will today allot 119,050,908 ordinary fully paid shares at the Issue Price.

All new Shares issued under the SPP and Placement will rank equally with existing ordinary shares in the Company. Following completion of the placement, the Company will have a total of approximately 475 million ordinary fully-paid shares on issue.

1 Refer to ASX announcement on 14 September 2015 for further information on the Candonga Project Commitment to Lease Agreement.

Brazilian Office Centaurus Brasil Mineração Ltda Rua Pernambuco, 1.077 – 9[o] andar – Funcionários Belo Horizonte – MG – CEP: 30.130-151 BRAZIL

Australian Office Centaurus Metals Limited Level 3, 10 Outram St WEST PERTH WA 6005

ASX: CTM ACN 009 468 099 office@centaurus.com.au Telephone: +61 8 9420 4000

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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Management Comment

Centaurus’ Managing Director, Mr Darren Gordon, said he was very pleased with the strong result from the SPP and the outstanding level of support shown by existing shareholders for the Company’s diversification strategy in Brazil.

“This is a very good result in a difficult market,” Mr Gordon said. “I would like to thank our shareholders for the support they continue to provide. This is a strong vote of confidence in our decision to diversify away from the iron ore sector and puts us in a much stronger position moving forward.

“Together with the personal financial participation in the equity raise by the President of our new Strategic Alliance partner, Terrativa, we have been able to raise sufficient funds to press ahead with our copper exploration programs while also strengthening our working capital position – giving us the ability to continue exploration activities on our Mombuca Gold Project and progress discussions on the divestment of our remaining iron ore assets in Brazil in a measured and considered manner.

“This means we can head into the New Year with confidence, with the prospect of strong upcoming news-flow and activity from the Aurora Copper Project and the ability to unlock the value from the rest of our extensive asset base,” Mr Gordon said.

-ENDS-

Released by: On behalf of: Nicholas Read Darren Gordon Read Corporate Managing Director M: +61 419 929 046 Centaurus Metals Limited T: +618 9420 4000