CENTAURUS METALS LIMITED — Capital/Financing Update 2021

Mar 24, 2021

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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25 March 2021

FIRST PROPERTY SECURED AT JAGUAR

Centaurus Metals (ASX Code: CTM ) is pleased to announce that it has secured possession of a key part of the land that covers its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil following the completion of a Possession Agreement.

The agreement covers an area of approximately 1,010 hectares and provides the Company with unfettered access and full possession of land for the long-term benefit of the Project.

The property contains a number of farm-houses and structures that can be used as part of the ongoing exploration and development programs at Jaguar and also provides a direct access point to a river which may form a future water source for the Project. Centaurus’ existing site camp is located on the property and the previously existing short-term land access arrangement has now been superseded by the current perpetual Possession Agreement.

Securing full possession rights to the property is the first step in de-risking the potential future development of Jaguar in relation to land access and will eliminate some future operating costs that would otherwise have been payable.

The possession rights have been secured for total consideration of R$10.7 million (~A$2.5 million), with the consideration to be paid in instalments over the next three years. Upfront consideration under the agreement of R$5.0 million (~A$1.2 million) has now been paid.

Negotiations in respect to two further Possession Agreements are well advanced and progressing as planned.

The Jaguar Base Case Scoping Study is also nearing completion with finalisation and release of the study expected in the next week. From an exploration perspective, four diamond rigs are continuing to drill both in-fill and stepout extensional holes at the Project, while a new RC drill contractor is planning to mobilise a single RC rig to site shortly to drill the extensive greenfields targets identified by the Company across the tenement area.

For further information on the Company please visit www.centaurus.com.au to view our latest corporate presentation or contact:

-ENDS-

For further enquiries please contact: Nicholas Read Read Corporate M: +61 419 929 046 T: +61 8 9388 1474 info@readcorporate.com.au

Authorised for release by: Darren Gordon Managing Director Centaurus Metals Ltd T: +61 8 6424 8420 office@centaurus.com.au

Australian Office Brazilian Office ASX: CTM Centaurus Metals Limited Centaurus Brasil Mineração Ltda ACN 009 468 099 Level 2, 1 Ord Street 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 @CentaurusMetals BRAZIL Centaurus Metals