CENTAURUS METALS LIMITED — Capital/Financing Update 2018

Apr 3, 2018

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE

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4 April 2018

CENTAURUS SIGNS OPTION UNDERWRITING AGREEMENT TO RAISE ADDITIONAL $2.25M FOR NICKEL‐COBALT & COPPER‐GOLD EXPLORATION

Funds raised to underpin aggressive exploration push at Itapitanga Ni‐Co and Salobo West Cu‐Au Projects

• Option Underwriting Agreement entered into with Peloton Capital Limited to fully underwrite the upcoming exercise of the Company’s listed option series (ASX: CTMOA).

• The $2.25M to be raised from the exercise and underwriting of the CTMOA options plus existing cash reserves at end of March 2018 will result in a strong cash position of approximately $4.8M.

• The Company’s strengthened balance sheet will ensure that it can press ahead aggressively with ongoing exploration activities at the Itapitanga Nickel‐Cobalt Project, including an imminent RC drill program, and the Salobo West Copper Gold Project in the Carajás Mineral Province of northern Brazil.

Centaurus Metals (ASX Code: CTM ) is pleased to announce that it has entered into an underwriting agreement with Peloton Capital Limited (Peloton) to fully underwrite the upcoming exercise of the Company’s CTMOA listed option series (ASX: CTMOA) to raise $2.25 million (Underwriting).

Funds raised from the Underwriting, in conjunction with existing cash reserves, will be used to advance ongoing exploration activities at the Company’s highly prospective Itapitanga Nickel‐Cobalt Project and Salobo West Copper Gold Project in the Carajás Mineral Province of northern Brazil.

At Itapitanga, the Company has been completing soil sampling and auger drilling with outstanding results received from the initial auger drilling work. A 4,400 RC drill program is set to commence in the coming weeks to test the depth extent of the mineralisation seen in the shallow auger drilling, with mobilisation of the RC rig currently underway.

Centaurus has 224,562,664 listed CTMOA options on issue, exercisable at $0.01 on or before 5pm (AWST) on 30 April 2018. Under the Underwriting Agreement, Peloton will receive a fee of 6% of the underwritten amount. The underwriting agreement contains standard termination provisions for an agreement of this nature.

It is anticipated that the Company will announce the number of shares to be issued as a result of this Underwriting on or about 4 May 2018. Option‐holders who have any queries about how to exercise their options should contact the Company’s Share Registry, Advanced Share Registry Services, or the Company Secretary, Mr Paul Bridson.

‐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

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