CENTAURUS METALS LIMITED — Investor Presentation 2016

Oct 19, 2016

CORPORATE PRESENTATION – OCTOBER 2016

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: Outstanding new potential in Northern Brazil Walk-up drill targets in world-class mining province

• New gold-copper portfolio acquired in Pará Province, Northern Brazil

• Includes Serra Misteriosa Gold Project – continuous 2.5km long, high-grade gold-in-soils anomaly (+50ppb Au)

• Strong leverage to discovery success – CTM market cap of just $6M pre recently announced $2M rights issue

Disclaimer

• This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

• To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

• This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Centaurus Metals. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Centaurus Metals does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

• The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Roger Fitzhardinge, a Competent Person who is a Member of the Australasia Institute of Mining and Metallurgy and Volodymyr Myadzel, a Competent Person who is a Member of Australian Institute of Geoscientists. Roger Fitzhardinge is a permanent employee of Centaurus Metals Limited and Volodymyr Myadzel is the Senior Resource Geologist of BNA Consultoria e Sistemas Limited, independent resource consultants engaged by Centaurus Metals. Roger Fitzhardinge and Volodymyr Myadzel have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Roger Fitzhardinge and Volodymyr Myadzel consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

• The information in this report that relates to Ore Reserves is based on information compiled by Beck Nader, a Competent Person who is a professional Mining Engineer and a Member of Australian Institute of Geoscientists. Beck Nader is the Managing Director of BNA Consultoria e Sistemas Ltda and is a consultant to Centaurus. Beck Nader has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Beck Nader consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

• All information included in this presentation regarding Exploration Results, Mineral Resources and Ore Reserve estimates was prepared and first disclosed under the JORC Code 2004. This information has been updated to the JORC 2012 Code for the Jambreiro Mineral Resource, the Candonga Mineral Resource and the Candonga Ore Reserve. The information in relation to the Jambreiro Ore Reserve has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

• All information included in this presentation regarding the Ore Reserve estimate for the Jambreiro Iron Ore Project should be read in conjunction with the ASX announcement dated 5 November 2012. No material change has occurred in any of the conservative pit optimisation parameters used to estimate the Jambreiro Ore Reserve.

• Refer to the ASX announcements dated 20 December 2013 and 13 January 2014 for details of the material assumptions underpinning the production target and forecast financial information included in this presentation for the Jambreiro Iron Ore Project. The Company confirms that all the material assumptions underpinning the production target and forecast financial information derived from the production target continue to apply and have not materially changed.

• Refer to ASX announcement on 19 March 2015 for further information on the Exploration Target for the Conquista DSO Iron Ore Project.

Refer to the ASX announcement on 24 September 2015 for full details of the exploration results for the Aurora Copper Project

• Refer to the ASX announcements on 9 September 2015, 16 May 2016 and 29 September 2016 for full details of the exploration results for the Mombuca Gold Project

Refer to the ASX announcement on 5 October 2016 for full details of the Para Exploration Package which includes the Serra Misteriosa Gold Project

• Refer to the ASX announcements on 12 October 2016 and the Prospectus ldoged with the ASX on 14 October 2016 for full details of the Right Issue referred to in this presentation

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New Directions in Brazil – and now Australia

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Extensive portfolio of resource assets in Brazil

Strategic Alliance with prominent Brazilian exploration group Exploration focus in Brazil now on gold and copper projects

Para Exploration Package recently secured via strategic alliance for no upfront cost - includes drill ready Serra Misteriosa Gold Project and the well-located Salobo West Copper/Gold Project

Mombuca maiden drilling results currently being assessed in advance of next phase of exploration

Walk-up copper drill targets at Aurora Copper Project

Discussions continuing to divest Brazilian iron ore assets

New Potash JV – Nova Potash established in Australia as a 50/50 JV with international investment group Tavarua International Inc.

$2 million renounceable rights issue, underwritten to $1 million by CPS Capital, underway to fund ongoing exploration of the Company’s extensive portfolio of quality resource assets

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Centaurus – Repositioned and Rejuvenated

Capital Structure	As at 30 Sept 2016	Pro-forma Post Rights Issue*
Shares on Issue (incl Escrowed)	670.8m	1,073.2m
Escrowed Shares (Dec 16)	46.5m	46.5m
Listed Options (EP $0.05, Exp 31/3/17)	20.3m	20.3m
Listed Options (EP $0.01, Exp 30/4/18)	Nil	201.2m
Unlisted Options	24.5m	24.5m
Share Price	A$0.009	A$0.007**
Market Capitalisation	A$6.0m	A$7.5m**
Cash	A$0.3m	A$2.3m

• Assumes that Rights Issue is fully scribed

• ** Assumed share price and market cap immediately post completion of Rights Issue

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Experienced Brazilian resource company

Significant emerging gold and copper exploration projects at Serra Misteriosa, Salobo West, Mombuca and Aurora

Successfully repositioned outside of iron ore sector:

• Divested 900kt Candonga DSO Project in 2015 for ~A$1.6M in a tough market

• Discussions continuing on Conquista and Jambreiro Projects

Strategic alliance with Terrativa Minerais SA – one of Brazil’s pre-eminent private exploration groups in Brazil

Centaurus offers highly leveraged exposure to a resource company with a rich asset base in Brazil including exciting new greenfields gold and copper exploration projects.

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$2 million renounceable rights issue, partially underwritten to $1 million by CPS Capital, is underway

Active exploration programs planned

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Board and Key Management

BOARD OF DIRECTORS

DIDIER MURCIA

AM, B.Juris, LL.B

Non-Executive Chairman

MARK

HANCOCK

B.Bus, CA, FFin

Non-Executive Director

DARREN GORDON

B.Bus, CA, AGIA

Managing Director

BRUNO SCARPELLI

M.Sc, PMP

Brazil Country Manager & Executive Director

ROGER FITZHARDINGE

PAUL

BRIDSON

B.Sc (Geology), MAusIMM

B.Comm, CA, AGIA

GM – Exploration & Company Secretary & Development CFO

MANAGEMENT TEAM

Lawyer, 30 years experience,

Non-executive Chairman – Alicanto Minerals and Strandline Resources

Former Non Executive Director of Gryphon Minerals and Cradle Resources.

Honorary Australian Consul to Tanzania

• Chartered Accountant, 25 years experience

Current CFO and former Exec Director of Atlas Iron.

Has previously held senior financial roles with Woodside Petroleum, Premier Oil & Lend Lease

Chartered Accountant, +20 years experience

Extensive resource financing and operations exposure in both gold and iron ore.

• Non-Executive Director of Genesis Minerals

• Previously CFO at Gindalbie Metals

Engineer, +15 years experience

Former Environmental Coordinator at Vale’s Carajas Iron Ore Operations in State of Para, Brazil

Previous Manager roles with Brandt Meio Ambiente and Golder Associates in Brazil

Geologist, +15 years Chartered Accountant, 20 experience years experience

Former Manager of Co Sec & CFO Syndicated Technical Services and Metals Senior Mine Geologist at Mirabela Nickel in Brazil Former Co Sec & CFO Avalon Minerals Former geologist with Homestake’s gold Previously Financial exploration team and BHP’s Controller Gindalbie Metals Pilbara iron ore

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Pará EP – Multiple Projects with World-Class Mineral Address

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Pará Exploration Package (Pará EP)

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The Pará EP – Project Locations

o The State of Pará in northern Brazil is set to become the country’s No 1 mining state by 2030

o Currently responsible for 25% of Brazilian mining

o The Mineral Province hosts Carajás the largest concentration of large tonnage IOCG deposits in the world

o is of the Government’s Region part SUDAM regional development which includes program significant tax incentives

• Para EP includes the drill-ready Serra Misteriosa Gold Project and the well located Salobo West Project

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Serra Misteriosa Gold Project – Highly Prospective & Drill Ready

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o Advanced exploration work already - Terrativa but no completed by drilling

o Continuous 500m x 2.5km long, high-grade gold-in-soils anomaly (+50ppb Au), within a broader +5km long gold anomaly

o Gold associated with highly altered dolerites intruding a greenstone o similar and Very geological structural characteristics to the

• 5.0Moz Volta Grande Gold Project (TSX-Listed Belo Sun Mining Corp.)

o set to Multiple drill-ready targets be tested.

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Salobo West Copper/Gold Project – “Elephant Country”

o EL 12km strike applications along from Vale’s massive Salobo coppergold mine (1.1 billion tonnes at 0.7% Cu and 0.4g/t Au)

o 150 km[2] of tenement applications cover more than 20km of strike extension of the highly prospective - Cinzento Shear Zone hosts multiple world class IOCG deposits

o Additional EL 10km applications north-east of Vale’s Alemão which included a Copper Project +3Moz operating gold mine (Igarapé Bahia) in the 1990’s

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The Pará EP – Deal Structure

• CTM to spend R$2.5 million (~A$1 million) over 2 years to earn the right to acquire 100% of the Para EP

• can be exercised the issue of 30 million CTM

• Right by shares and the grant of a 2% production royalty over future gold production from any of the project tenements.

• Performance Shares to also be issued on exercise of right

• to acquire with the following vesting conditions

• 30 million on definition of JORC Inferred Resource of 500,000 ounces within 6 years

• o 30 million on definition of JORC Inferred Resource of 1,000,000 ounces within 6 years o 30 million on definition of JORC Inferred Resource of 1,500,000 ounces within 6 years

• All issue of future and shares ordinary performance

• subject to shareholder approval.

• Production royalty can be converted to a 25% share of sale proceeds (less value of any performance shares issued) should the project be divested by CTM.

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Mombuca Gold

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Mombuca Gold Project

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Mombuca – Project Location

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Mombuca Project – Strong Gold Potential

• Extensive magnetic anomaly (4.8km x 3.5km) with significant high-grade gold potential

o The anomaly is of similar magnitude to that covering the world-class Itabira Iron Ore Complex, located just 20km to the south-east

• Located on the under-explored gold-palladium (Au-Pd) belt of Minas Gerais, Brazil

o Multiple gold anomalous catchment areas hosting outcropping gold-bearing quartz veins set amongst extensive artisanal workings

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Mombuca Project – ITZ and Bela Prospects

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o ITZ Prospect - Grades of up to 12.2g/t Au from mineralised quartz veins in the target area with historical face sampling of adits in the area returning intercepts up to 6m @ 5.3g/t Au; o Gold values in soils of up to 0.8g/t Au returned over an extensive, open-ended zone 1.5km long and varying in width from 50-150m; o Bela - an extremely high chargeability zone identified 1.5km east of the ITZ Prospect, coincident with magnetic low within a broader magnetic high zone and open at depth

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Mombuca Project – IP Targets remain to be explained

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Maiden drill program at Mombuca completed

5 deep diamond drill holes completed over the ITZ and Bela Prospects targeting – no IP/structural/geochem targets significant assays

IP anomalies of the dimensions and strength seen at Mombuca generally associated with significant amounts (1-5%) of disseminated sulphides, iron oxides or other geological conditions that can explain the anomalies

Drilling indicates the presence of a hydrothermal mineralising system but results to date do not explain the strong IP chargeability anomalies

Comprehensive review of all data underway with the Company’s geological and geophysical experts to determine next phase of exploration

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Aurora Copper – High Grade Copper Targets

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Aurora Copper Project

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Aurora Copper – Project Location

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Aurora Copper – Outstanding Logistics & Infrastructure

• 15km from Federal highway BR-116 and less than 10km from the Transnordestina Rail (completion in 2016)

• Project rail-head is roughly 350km to the fully operational bulk cargo port of Pecém

o A high tension power line traverses the project area

o A number of large reservoirs located within a 20km radius, smaller dams on project area o 145km from the regional centre of Juazeiro do Norte (pop. 250k) that has commercial airport

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Aurora Copper – Copper Sulphide Mineralisation

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o Zone of extensional tectonics on a secondary shear zone of the Patos Shear (primary shear zone of NE Brazil)

o Copper sulphides identified in core as both semi-massive veins and disseminated mineralisation

o chalcocite Sulphide assemblage: mainly chalcopyrite, and bornite, plus pyrite gauge

o Historical returned the drilling following significant sulphide intersections:

o 12.5m at 2.40% Cu from 101.5m in 3BA-14-CE o 9.5m at 1.60% Cu from 46.0m in 3BA-09-CE o 6.9m at 0.93% Cu from 47m in PJCA-PSED-SD0002 o 1.3m at 5.28% Cu from 32m in PJCA-PTAV-SD0010

o Centaurus intends to two mineralisation target types: Shear-hosted mineralisation and Iron Oxide copper Copper-Gold (“IOCG”)

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Aurora Copper – Copper Oxide Mineralisation

• Multiple expressions of secondary copper minerals (malachite) along 3km strike, correlating well with sulphide intersections at depth

o Malachite predominant along fracture features

• Grades of to 16% Cu were returned when CTM up directly analysed

• the malachite mineralisation at surface with XRF and analysis of the whole rock returned consistent grades of 0.4-0.7% Cu

• intersections of continuous oxide mineralisation

• Supported by deep in historical drilling:

• 30m at 0.7% Cu from surface in 3BA-29-CE

• 12m at 0.79% Cu from surface in PJCA-PTAV-SD0007

• 9m at 0.5% Cu from 11m in PJCA-PTAV-SD0001

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Aurora Copper – Outstanding New Targets from Historical Data

o Terrativa completed ground mag and on 100m gravity surveys spaced lines over main target areas

• From Centaurus public reports

• has identified that Vale completed soil geochem and IP work over entire

• survey project area on 400m line spacings

• Untested coincident copper-insoils with IP anomalies provide for some strong walk-up targets

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Nova Potash – A New 50/50 Potash JV in Australia

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Nova Potash – A New 50/50 Potash JV in Australia

• JV to pursue potash projects in Australia and south‐east Asia, where annual potash demand exceeds 5Mtpa.

• Nova Potash Pty Ltd (“Nova”) is the 50/50 JV company already established with initial capital provided by JV partner, Tavarua. Centaurus is managing the JV.

• Tavarua has undertaken extensive work over the last 4 in Brazil with the study years leading

• Brazilian agricultural research institute Embrapa to identify a solution for the low‐cost delivery of potash to the extensive Cerrado agricultural region of Brazil.

• Nova will be in the of able to off the amount of unique position being leverage significant

• information Tavarua in Brazil to assist in the search for new in generated by opportunities

• Australia and SE Asia.

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New joint venture with private international investment company, Tavarua International Inc (Tavarua).

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Centaurus – Investment Summary

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Rejuvenated and repositioned Brazilian-focused resource developer

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Strategic Alliance with prominent Brazilian exploration group continuing to deliver value for the Company

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Outstanding new package of gold and copper targets secured by the Company in Pará including Serra Misteriosa and Salobo West

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Mombuca maiden drilling results currently being assessed in advance of next phase of exploration

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50/50 potash JV in Australia and SE Asia with international investment company, Tavarua International Inc

Strategy to realize value from extensive iron ore portfolio continuing Advanced negotiations underway in respect to Conquista DSO Project Centaurus offers highly leveraged exposure to a resource company with a rich asset base and a clear strategy to refocus and reposition into commodities and projects with the potential to deliver value in the short-term.

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Appendix - Brazilian Domestic Iron Ore Projects

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Conquista DSO Project – Ground Magnetics

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Conquista Project located only 8km from the recently divested Candonga DSO Project Significant high-grade (+64% Fe) DSO outcrop already identified on the Conquista ground over 2.5km of strike

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Conquista – DSO Exploration Target

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Rock chip samples collected to date grade 64-70% Fe with low impurities

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DSO Exploration Target established at Conquista of 3.5-8Mt grading 64% to 67% Fe based on outcrop, field mapping and knowledge of the Candonga Project. The Exploration Target quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Initial Testwork has shown Project will produce both lump and high grade sinter feed product

The Conquista Project has the same geological and process characteristics as the previously divested Candonga Project

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Conquista DSO Project – Value Proposition

• Capital and Operating Costs for Conquista likely to be very similar to Candonga Project that is only 8km away but Project expected to be much bigger based on Exploration Target

• DSO mineralisation is outcropping in areas of initial stage vegetation

• Ground Magnetic survey completed,

• confirming surface outcrop likely to continue at depth

Negotiations to divest the Conquista Project are underway and at an advanced stage

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Appendix - Brazilian Domestic Iron Ore Projects

Jambreiro Project

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Jambreiro – Project Location

• 110km from Ipatinga steelmaking region

• JORC Resource of 128Mt

• 350km

• 128Mt

• • Initial Ore Reserve of 48.5Mt 110km

• • Over 19,000 metres of diamond and RC drilling to support JORC resource and 140km

• reserve

• Extensive data set (including drill core) available to support project funding

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Jambreiro – A Fully Licenced Development Project

Key Financial Outcome – 2013 Feasibility Study	Total
Production Rate	1Mtpa
Mine Life	18 years
Total Revenue	A$750 million
EBITDA	A$350 million
Capital Costs	A$53 million
Annual Average Operating Cash Flow	A$19.4 million
LOM Average Sales Price	A$41.3/dmt
Operating Cash Cost (per tonne Product - LoM)	A$22.0/dmt

	ASX Release - Dec 2013	Sept 2016
Average FX - AUD to BRL	2.00	2.40
Average FX - AUD to USD	0.91	0.75
Average FX - USD to BRL	2.20	3.20
Ave Sales Price - Mine Gate US$/wmt Product	37.6	24.0-26.0
Ave Sales Price - Mine Gate R$/wmt Product	82.7	76.8-83.2

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All Environmental and Mines Department approvals in place for a wet processing operation up to 3Mtpa

Mining Leases granted

10-year land access agreement in place Positive Feasibility Study completed for 1Mtpa Project in late 2013

Ideally positioned to be a consistent and reliable supplier of high-quality (+65% Fe), low impurity iron ore to domestic steel mills

In-pit friable Ore Reserve: 48.5Mt @ 28.1% Fe

~ • 18Mt of high grade product (+65% Fe) Significant value remains in Project

The Jambreiro Project remains a feasible project in the domestic market in Brazil, however, Centaurus is unlikely to be able to fund the development at the present time due to debt and equity market sentiment towards the iron ore market generally. Divestment and joint venture options are therefore being pursued with groups who can fund this feasible project without reliance on external sources of capital

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CORPORATE PRESENTATION – OCTOBER 2016

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NEW PARTNERS, NEW OPPORTUNITIES, NEW DIRECTIONS