CENTAURUS METALS LIMITED — Capital/Financing Update 2016

Nov 10, 2016

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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11 November 2016

CENTAURUS RAISES $2.25M TO ADVANCE GOLD EXPLORATION FOLLOWING HEAVILY OVERSUBSCRIBED RIGHTS ISSUE

STRONG RESPONSE FROM SHAREHOLDERS SEES CENTAURUS ACCEPT FURTHER $250,000 AS PLACEMENT

KEY POINTS

• Successful completion of 3‐for‐5 Rights Issue, which closed heavily oversubscribed raising $2M.

• Due to the high level of subscriptions from shareholders, the Company has agreed to accept a further $250,000 as a placement, on the same terms as the Rights Issue.

• For every two new shares issued, shareholders will receive one free option with an exercise price of $0.01 and an expiry date of 30 April 2018. The Company has applied for quotation of these options.

• All Centaurus Directors took up their full entitlements in the Rights Issue.

• Funds raised from the Rights Issue and Placement will be used to advance exploration of the Company’s drill‐ready Serra Misteriosa Gold Project, which forms part of the recently acquired and highly prospective +750km[2] Pará Exploration Package in northern Brazil[1] , located near the world‐ class Carajás IOCG province and the 5Moz Volta Grande gold deposit.

Centaurus Metals (ASX Code: CTM ) is pleased to advise that its 3‐for‐5 renounceable rights issue has closed heavily oversubscribed. As a result, the Company will issue 402,467,414 New Shares and 201,233,707 New Options with an exercise price of $0.01 and expiry date of 30 April 2018 under the Rights Issue, raising a total of $2 million before costs.

Due to the very strong level of demand from shareholders, the Company has agreed to place a further 50 million shares ($250,000) and 25 million options on the same terms as those issued under the Rights Issue. Even with this additional placement, there will be some scale‐back of applications received from shareholders under the Rights Issue. Refund cheques for the excess applications will be mailed to shareholders on or about 17 November 2016.

Quotation of the New Shares and New Options on the ASX is expected to occur on 15 November 2016.

The proceeds of the Rights Issue and additional placement will predominantly be used to commence an active gold exploration program in Brazil, including the Company’s first‐ever drill program on the recently acquired and highly prospective Serra Misteriosa Gold Project that forms part of the broader Pará Exploration Package in northern Brazil.

1 See ASX Announcement dated 5 October 2016 for full details of the Pará Exploration Project acquisition.

Australian Office Brazilian Office ASX: CTM Centaurus Metals Limited Centaurus Brasil Mineração Ltda ACN 009 468 099 Level 3, 10 Outram St Avenida Barão Homem de Melo, 4391 office@centaurus.com.au WEST PERTH WA 6005 Salas 606 e 607 ‐ Estoril Telephone: +61 8 9420 4000 Belo Horizonte ‐ MG ‐ CEP: 30.494.275 BRAZIL

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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The Serra Misteriosa Gold Project hosts a continuous 2.5km long, high‐grade gold‐in‐soils anomaly (+50ppb Au) within a broader +5km long gold geochemical anomaly that is up to 500m wide. Ground‐based exploration will commence shortly with drilling planned in 3‐6 months.

The Pará Exploration Package also contains the Salobo West Copper‐Gold Project, a group of EL applications that cover a total area of ~150km[2] , with the Salobo West project area located ~12km along strike from Vale’s giant Salobo copper‐gold mine (1.1Bt @ 0.7% Cu and 0.4g/t Au)[2] .

Centaurus’ Managing Director, Mr Darren Gordon, said the Company was very pleased with the outstanding level of support from its shareholders as it geared up for a pivotal phase of exploration across its recently expanded gold and copper portfolio in Brazil.

“We are delighted that so many shareholders took the opportunity to increase their investment in the Company and we thank them for their continued support,” he said. “This puts Centaurus in a very strong position as we move ahead with our maiden exploration program at the Serra Misterioso Gold Project and target the opportunity to make a significant discovery over the coming months.”

‐ENDS‐

Released by: Nicholas Read Read Corporate M: +61 419 929 046

On behalf of: Darren Gordon Managing Director Centaurus Metals Limited T: +618 9420 4000

2 For additional information on the Salobo Ore Reserves and Mineral Resources please refer to www.vale.com