CENTAURUS METALS LIMITED — Capital/Financing Update 2015

Mar 5, 2015

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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6 March 2015

COST REDUCTION PROGRAM

Following the recently announced capital raising and rights issue, Centaurus Metals Limited (ASX: CTM) advises that it has implemented a number of additional cost reduction measures to ensure that the Company minimises corporate and administrative overheads and appropriately manages its cash position to ensure it is able to move quickly to develop its Candonga DSO Project in Brazil as market conditions allow.

As part of the ongoing review of costs, from 1 April 2015 the Board has decided to reduce fees payable to the Non‐Executive Chairman and Non‐Executive Directors by one‐third. In addition, the Managing Director has offered, and the Board has accepted, to reduce his remuneration by 10 per cent.

This follows the reduction in the size of the Board from six Directors last year to four Directors currently.

A number of other cost saving initiatives were also implemented last year including a substantial downsizing of the Company’s corporate head office in Perth, an office relocation to smaller premises and a restructure of the Company’s Brazilian operations.

Several additional cost saving measures are currently being implemented both in Australia and Brazil, however the Company remains cognisant of the need to retain an effective and capable corporate and project development team with the skills base and experience to enable it to realise value from its advanced iron ore projects in south‐east Brazil and deliver value to shareholders.

‐ENDS‐

Released By: Nicholas Read Read Corporate Mb: (+61) 419 929 046 Tel: (+61‐8) 9388 1474

On behalf of: Mr Darren Gordon Managing Director Centaurus Metals Ltd Tel: (+61‐8) 9420 4000

Australian Office Centaurus Metals Ltd Level 3, 10 Outram St West Perth WA 6005

Brazilian Office Centaurus Brasil Mineração Ltda Rua Pernambuco, 1.077 ‐ andar S ‐ Funcionários Belo Horizonte MG ‐ CEP: 30.130‐151

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