CENTAURUS METALS LIMITED — Capital/Financing Update 2015

Nov 3, 2015

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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4 November 2015

Centaurus Announces Fully Underwritten Share Purchase Plan and Placement to Advance Diversification Strategy

Funds to be used to explore newly acquired Aurora Copper Project while continuing to realise value from the Company’s Brazilian iron ore portfolio

Key Points

• Strategic Alliance Agreement entered into with Terrativa Minerais SA with key component of the alliance being the acquisition of the highly prospective Aurora Copper Project in north‐east Brazil.

• Share Purchase Plan (SPP) fully underwritten by Patersons Securities Limited to raise a minimum of $350,000.

• The President of Terrativa, Mr Ingo Wender, to make private investment of $200,000 into Centaurus by way of a Share Placement.

• Funds to be used to explore the Aurora Copper Project while continuing to explore opportunities to realise value from the Company’s advanced portfolio of iron ore assets.

• Shares in the SPP and Share Placement will be offered at a 20% discount to the volume weighted average price (VWAP) of ordinary shares over the last 5 days on which sales in the Shares are recorded immediately prior to the issue date of shares under the SPP.

• Eligible Shareholders are able to purchase Centaurus shares up to the value of $15,000 without incurring brokerage.

• Centaurus Directors to participate in the SPP.

Centaurus Metals (ASX Code: CTM) is pleased to announce an opportunity for existing shareholders to participate in a Share Purchase Plan (“SPP”), fully underwritten to $350,000 by Patersons Securities Limited (“Patersons”), to advance exploration activity at the Company’s recently acquired and highly prospective Aurora Copper Project in north‐eastern Brazil.

In conjunction with the SPP, the Company will complete a private Share Placement of $200,000 to the President of Terrativa Minerais SA (“Terrativa”), Mr Ingo Wender. Terrativa is the Company from which Centaurus recently acquired the Aurora Copper Project as part of a newly formed strategic alliance. Centaurus has an excellent long‐standing relationship with Terrativa which has previously enabled the Company to secure agreements to acquire the Mombuca Gold Project and the Conquista DSO Iron Ore Project.

The positive working relationship on these Projects and the two companies’ strong focus on quality exploration have culminated in the formation of the strategic alliance, which will underpin future exploration efforts in Brazil.

Australian Office Brazilian Office ASX: CTM Centaurus Metals Limited Centaurus Brasil Mineração Ltda ACN 009 468 099 Level 3, 10 Outram St Rua Pernambuco, 1.077 – 9[o] andar – Funcionários office@centaurus.com.au WEST PERTH WA 6005 Belo Horizonte – MG – CEP: 30.130‐151 Telephone: +61 8 9420 4000 BRAZIL

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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The funds raised through the SPP and Share Placement will provide the Company with sufficient funding to complete its planned exploration activities on the Aurora Copper Project whilst at the same time allowing the Company to progress its diversification strategy with an orderly realization of value from the Jambreiro and Conquista Iron Ore Projects.

Initial work on Aurora will focus on integrating the significant amount of historical geological data along with a reinterpretation of historical geophysical data (which includes ground magnetics, gravity and IP data). From this new integrated database Centaurus will select the most suitable geophysical survey technique to best advance the target definition. This is most likely to involve ground and down‐hole EM survey work and/or additional IP survey work.

EM survey work has never been completed on the Aurora ground but is a proven exploration tool when it comes to identifying copper sulphide mineralisation. The geophysical surveys are expected to start before the end of the year after which drilling will most likely commence in the New Year.

SPP – Information for Eligible Shareholders

Shareholders who are registered as at 5.00pm (WST) on 3 November 2015 (Record Date) and have a registered address in Australia and New Zealand (Eligible Shareholders) are invited to participate in the SPP offer. The SPP provides the opportunity for Eligible Shareholders to purchase up to $15,000 of Centaurus Shares at a 20% discount to the VWAP of Shares on ASX over the last 5 days on which sales in the Shares are recorded immediately prior to the issue date of Shares under the SPP.

Eligible Shareholders are able to purchase parcels of Shares valued at $750, $1,500, $2,500, $5,000, $7,500, $10,000 or $15,000 without incurring brokerage or transaction costs. The Directors reserve the right to expand the size of the SPP (subject to ASX Listing Rule limits) or to scale back SPP acceptances at its discretion.

All new Shares issued under the SPP and Placement will rank equally with existing ordinary shares in the Company. Shares issued under the Placement will be issued at the same price as under the SPP. Eligible Shareholders will be sent an offer letter and SPP rules to enable them to consider the investment. Centaurus Directors will participate in the SPP.

The SPP is fully underwritten by Patersons Securities Limited (Underwriter) to an amount of $350,000 (Underwritten Amount). If applications are not received for the Underwritten Amount, Centaurus will place to nominees of the Underwriter any Shares that have not been applied for by Eligible Shareholders up to the Underwritten Amount (Shortfall Shares).

Important Dates

EVENT	DATE
SPP Record Date	5pm(WST)Tuesday,3 November 2015
Announcement of SPP	Wednesday,4 November 2015
Dispatch of SPP Letter	Thursday,5 November 2015
SPP OpeningDate	Thursday,5 November 2015
SPP ClosingDate	Friday20,November 2015
Shortfall Notice Date	Tuesday,24 November 2015
Shortfall Settlement Date	Friday27,November 2015
SPP Allotment Date & PricingAnnouncement	Monday,30 November 2015
Dispatch of shareholdingstatements	Tuesday,1 December 2015
SPP Shares(includingShortfall Shares)commence trading	Tuesday,1 December 2015

This timetable is subject to change. Subject to its obligations under the underwriting agreement, Centaurus reserves the right to vary the timetable without notice, including without limitation to close the SPP early. Shareholders are therefore encouraged to lodge their applications well ahead of the advertised closing date.

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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‐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