CENTAURUS METALS LIMITED — Capital/Financing Update 2021

May 3, 2021

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

4 May 2021

Notification of Expiry of Listed Options - CTMOC

Centaurus Metals Limited (ASX:CTM) advises that its listed options (ASX:CTMOC) exercisable at $0.18 each will expire at 5:00 p.m. WST on 31 May 2021.

In accordance with ASX Listing Rule 6.24, the attached letter has been sent to all holders of listed options CTMOC.

-ENDS-

For further enquiries please contact:

John Westdorp

Company Secretary Centaurus Metals Ltd T: +61 8 6424 8420

Authorised for release by:

Darren Gordon

Managing Director Centaurus Metals Ltd T: +61 8 6424 8420

Australian Office Centaurus Metals Limited Level 2, 1 Ord St West Perth WA 6005 AUSTRALIA

Brazilian Office ASX: CTM Centaurus Brasil Mineração Ltda ACN 009 468 099 Avenida Barão Homem de Melo, 4391 office@centaurus.com.au Salas 606 e 607 - Estoril T:: +61 8 6424 8420 CEP: 30.494.275, Belo Horizonte MG BRAZIL

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4 May 2021

Dear Option Holder

NOTIFICATION OF EXPIRY OF LISTED OPTIONS – CTMOC

Centaurus Metals Limited (ASX:CTM) ( Company ) wishes to advise that at that date of this letter, you are a registered holder of options exercisable at $0.18 each that will expire at 5.00pm (WST) on 31 May 2021 (CTMOC) ( Listed Options ).

Each Listed Option you hold entitles you to subscribe for one fully paid ordinary share issued in the capital of the Company ( Share ) at the Exercise Price.

The Company provides the following additional information required by clause 5.2 of Appendix 6A of the ASX Listing Rules.

The Company provides the following additionalthe ASX Listing Rules.	information required by clause 5.2 of Appendix 6A of
Number of Shares to be issued upon conversion	One Shareper Listed Option that is exercised.
Exercise Price	$0.18per Listed Option.
Due date forpayment of Exercise Price	5.00pm(WST)on Monday31 May2021(Expiry Date)
Consequence of non-payment of Exercise Price	If the Exercise Price is not paid, and the Listed Optionsare not exercised before the Expiry Date, the ListedOptions will lapse and the holder will have no furtherrights or entitlements in relation to those ListedOptions.
Date quotation of Listed Options will end	25 May 2021, being 4 business days before the ExpiryDate
Latest marketprice of Shares	$0.670 at close of trade on 3 May2021
Highest and lowest market price of Shares duringthe 3 months before the date of this notice, andthe dates of those sales	Highest: $0.955 on 4 February 2021Lowest: $$0.625 on 21 April 2021
Underwriting	None

Your choices as a Listed Option holder are:

1. Exercise all or some of your Listed Options

To exercise all or some of your Listed Options, please refer to the instructions on the Notice of Exercise accompanying this letter. Your completed Notice of Exercise and cleared funds must be received by no later than 5:00pm (WST) on Monday, 31 May 2021. Payment can be made by cheque or by funds transfer to the account details provided on the Notice.

Australian Office	Brazilian Office	ASX: CTM
Centaurus Metals Limited	Centaurus Brasil Mineração Ltda	ACN 009 468 099
Level 2, 1 Ord St	Avenida Barão Homem de Melo, 4391	office@centaurus.com.au
West Perth WA 6005	Salas 606 e 607 - Estoril	T:: +61 8 6424 8420
AUSTRALIA	CEP: 30.494.275, Belo Horizonte MG
	BRAZIL

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2. Sell all or some of your Listed Options on market

You can sell your Listed Options on the ASX. Your Listed Options are currently trading on the ASX under ASX code CTMOC. If you wish to sell all or some of your Listed Options, you must do so before the close of trading on 25 May 2021.

The last trade for CTMOC prior to the date of this letter was on 3 May 2021 at $0.480.

3. Do nothing and allow your Listed Options to lapse

If you do not take any action to exercise your Listed Options prior to 5:00pm (WST) on Monday 31 May 2021, the Listed Options will expire and you will have no further rights or entitlements in relation to those Listed Options.

We recommend that you seek independent advice if you are unsure as to what to do in relation to your Listed Options.

For further information contact:

John Westdorp Company Secretary +61 8 6624 8420

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