CENTAURUS METALS LIMITED — Investor Presentation 2006

Aug 22, 2006

GLEN A R R Y

26 August 2006

ASX RELEASE

IP survey defines exciting new target near Cannington Mine

Glengarry Resources Limited is pleased to announce results of a geophysical IP survey completed over the Crackpot prospect on its wholly owned Cannington Project, in western Queensland. The prospect is located approximately 6 kilometres south southwest of BHP Billiton's 40 - 50 million tonne Cannington silver-lead-zinc mine (Figure 1).

The IP survey on Glengarry's tenement was part of a larger survey recently completed by BHP Billiton on its adiacent mine tenements. The data collected from Glengarry's tenure by this survey has now been processed and has revealed a significant IP anomaly immediately east of Crackpot where previous exploration had located gossanous float (Figure 2) containing strongly anomalous lead (up to 0.24%) and molybdenum (up to 0.29%). The IP anomaly indicates a highly conductive body immediately east of the gossanous float between 35 and 70 metres depth that may represent sulphide mineralization.

Glengarry has previously undertaken limited drilling (2 holes) immediately west of the IP anomaly which intersected anomalous copper and molybdenum values in weathered rock but the source of the gossanous float had not been determined. Importantly, the newly defined IP anomaly has not been tested by previous drilling.

BHP Billiton's survey was completed on lines 400 metres apart and Glengarry intends to complete an infill IP survey as soon as feasible which will allow optimal siting of follow up drilling.

David Richards (Managing Director)

Declaration

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by David Richards who is a member of the Australian Institute of Geoscientists. David Richards is a full time employee of Glengarry Resources Limited. David Richards has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. David Richards consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

GLEN GARRY

Figure1: Cannington Project Location

Figure 2: Image showing IP anomaly east of Crackpot gossan float