CENTAURUS METALS LIMITED — Interim / Quarterly Report 2006

Oct 26, 2005

27 October 2005

Manager Company Announcements Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam

ANNOUNCEMENT

We enclose Appendix 5B, Mining exploration entity quarterly report for the period ending 30 September 2005.

Yours faithfully

Classis

ALLANT HARRIS Director

GLENGARRY RESOURCES LIMITED ABN 40 009 468 099 Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510 PO Box 975, West Perth, WA 6872 35 Havelock Street, West Perth, WA 6005 Website: www.glengarrynl.com.au Email: info@glengarrynl.com.au

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Current quarter

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001

Name of entity

GLENGARRY RESOURCES LIMITED

ACN or ARBN

40 009 468 099

Quarter ended ("current quarter")

30 SEPTEMBER 2005

$\sqrt{\frac{4000000000000000000000000000000000000$

Consolidated statement of cash flows

Cash flows related to operating activities		\$A'000	\$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for (c) production	(a) exploration and evaluation (b) development	(274)	(274)
		(d) administration	(164)	(164)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		28	28
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)
	Net Operating Cash Flows		(410)	(410)
	Cash flows related to investing activities
1.8	Payment for purchases of:	(a)prospects
		(b) equity investments
		(c)other fixed assets	(3)	(3)
1.9	Proceeds from sale of:	(a)prospects
		(b) equity investments
		(c)other fixed assets
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other (provide details if material) - Security deposits
	Net investing cash flows		(3)	(3)
1.13	Total operating and investing cash flows (carried forward)		(413)	(413)

$\div$ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	890	890.
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings
1.18	Dividends paid
1.19	Other (provide details if material)
	Net financing cash flows	890	890
	Net increase (decrease) in cash held	477	477
1.20 1.21	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	1.186	1,186
1.22	Cash at end of quarter	1,663	1,663

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter \$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	95
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

• Details of financing and investing transactions which have had a material effect on consolidated assets and $2.1$ liabilities but did not involve cash flows
• $2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

$\div$ See chapter 19 for defined terms.

Financing facilities available
Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities
-3.2	Credit standby arrangements

Estimated cash outflows for next quarter

	Total	300
4.2	Development
4.1	Exploration and evaluation	300
		\$A'000

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
Cash on hand and at bank 5.1		47	47
Deposits at call 5.2		1,616	1,616
Bank overdraft 5.3
Other (provide details) - Security deposit 5.4
Total: cash at end of quarter (item 1.22)		1,663	1,663

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed		Refer to Attachment 1
6.2	Interests in mining tenements acquired or increased		Refer to Attachment 1

• See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	price Issue per security (see note $3)$ (cents)	Amount paid up per security (see note 3) (cents)
7.1	Preference
	*securities (description)
7.2	Changes during quarter
	(a) Increases through issues
	(b) Decreases through returns of capital, buy-backs, redemptions
7.3	*Ordinary securities	181,566,528	181,566,528
7.4	Changes during quarter
	(a) Increases through issues	23,682,590	23,682,590
	(b) Decreases through returns of capital, buy-backs
7.5	*Convertible debt
	securities (description)
7.6	Changes during quarter
	(a) Increases through issues
	(b) Decreases through securities
7.7	matured, converted Options			Exercise price	Expiry date
	(description and conversion factor)	3,100,000		$\dot{\pi}$	$\star\star$
7.8	Issued during quarter
7.9	Exercised during quarter
7.10	Expired during quarter	500,000
7.11	Debentures (totals only)			* 5 cents 600,000	8 March 2006 **
7.12	Unsecured notes (totals only)			* 10 cents 500,000 500,000 $10$ cents 500,000 15 cents 15 cents 500,000 500,000 15 cents	** 30 June 2006 1 September 2006 18 February 2006 30 June 2007 1 September 2007

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting $\mathbf{1}$ . standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4).
• $\overline{2}$ . This statement does give a true and fair view of the matters disclosed.

(Director/Company secretary)

Date: 27 OCTOBER 2005

Sion here:

Print name:

ALLAN THOMAS HARRIS

Notes

• $\mathbf{1}$ The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• $\overline{2}$ . The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 1. Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 4 1026: Statement of Cash Flows apply to this report.
• 1. Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

-------------------------------------

• See chapter 19 for defined terms.

ATTACHMENT 1

Changes in interests in mining tenements
Quarter Ended 30 September 2005

		Tenement reference	Nature of interest	Interest at	Interest at
			(note (2))	beginning of	end of
				quarter	quarter
6.1	Interests in mining tenements relinguished, reduced or lapsed	Queensland Bustard Creek EPM 13680 Twelve Mile South EPM 14820 Burges Two EPM 12961 El Rita EPM 13681 Powlathanga EPM 14690 Twelve Mile Creek EPM 12123	Surrendered 8 July 2005 Withdrawn 5 Aug 2005 Area reduced 1 Sept 2005 Area reduced 13 Sept 2005 Withdrawn 14 Sept 2005 Surrendered 30 Sept 2005	100% 100% 100% 100% 100% 100%	Nil Nil 100% 100% Nil Nil
		Tasmania Yolande River EL 21/2003	Surrendered 7 July 2005	100%	Nil
6.2	Interests in mining tenements acquired or increased	Queensland The Lynd EPM 15049	Granted 10 Aug 2005	Nil	100%

• See chapter 19 for defined terms.