CENTAURUS METALS LIMITED — Investor Presentation 2016

Jul 26, 2016

Corporate Presentation – July 2016

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Mombuca: drilling underway to test multiple strong gold targets

• Outstanding geophysical targets, supported by geochemistry and sampling

• 2,500m diamond drill program now underway, initially at the ITZ prospect

• Strong leverage to discovery success – CTM market capitalization of just $9M

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 Reserve’. 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 Reserve’. 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 and 16 May 2016 for full details of the exploration results for the Mombuca Gold Project

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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 Highly successful initial exploration activities completed Regionally significant gold target identified at Mombuca:

• Exceptional greenfields discovery opportunity

• Maiden drilling program has commenced to test excellent IP targets

Walk-up copper drill targets at Aurora Project Discussions continuing to divest Brazilian iron ore assets – New Potash JV established in Australia and SE Asia Nova Potash formed as 50/50 JV with international investment group Tavarua International Inc.

Drilling underway at Mombuca to test significant new gold targets

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Centaurus – Repositioned and Rejuvenated

Capital Structure	As at 1 July 2016
Shares on Issue (incl Escrowed)	660.8m
Escrowed Shares (Dec 16)	46.5m
Listed Options (EP$0.05, Exp 31/3/17)	20.3m
Unlisted Options	34.7m
Share Price	A$0.013
Market Capitalisation	A$8.6m
Top 10 Shareholders	44.1%
Directors & Management Holding	~7.2%

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. Drilling has now commenced at the first of these opportunities, Mombuca.

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Experienced Brazilian resource company Significant emerging gold and copper exploration projects at 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 Jambreiro and Conquista Projects

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

New Potash 50/50 JV with international investment group, Tavarua International Inc, in Australia and SE Asia

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Mombuca – Regionally Exciting Gold Project

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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 Prospect

Grades of up to 12.2g/t Au from rock chip samples 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

o Detailed soils geochem program has been conducted over the ITZ Prospect

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

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Mombuca Project – IP Survey & Drill Hole Locations

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Mombuca Project – ITZ Prospect

Extensive high chargeability zones continuous over more than 650m of strike have been identified at the ITZ Prospect, indicating the likely presence of significant sulphide mineralisation at depth

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The anomalies extend from surface to the base of the survey (250m) and remain open at depth

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The chargeability anomalies cross-cut varying resistivity anomalies that represent multiple lithologies and may be indicative of a large-scale primary gold system

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Strong correlation with magnetic low within a broader magnetic high enhancing prospectivity of the target

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Diamond Drilling at the Mombuca Project has now commenced at the ITZ Prospect

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Mombuca Project – Bela Prospect

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The Bela Prospect is 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

Strong indicator of iron oxide depletion zone due to sulfidation and outstanding exploration target for sulphide hosted gold similar to what has been seen at surface

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Aurora Copper – New Horizons

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

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

• chalcocite

• Sulphide assemblage: mainly chalcopyrite, and bornite, plus pyrite gauge

• 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

• 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

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• 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 Tavarua. Centaurus will manage the JV.

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

o Nova will be in the of able to off the unique position being leverage significant amount of information generated by Tavarua in Brazil on its own potash projects. New 50/50 joint venture with substantial shareholder and private international investment company, Tavarua International Inc.

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Brazilian Domestic Iron Ore

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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 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

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The Conquista Project has the same geological and process characteristics as recently transacted Candonga Project with the potential to be more than three times the size.

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Conquista DSO Project – Value Proposition

• Capital and Operating Costs for Conquista likely to be similar to that is 8km

• very Candonga Project only away but to be much based on Project expected bigger

• Exploration Target

• DSO mineralisation is outcropping in areas of initial stage vegetation

• 900,000 tonne Candonga Project Ore Reserve divested for R$4 million (~A$1.6 million) in 2015.

• Ground Magnetic survey completed, confirming surface outcrop likely to continue at depth

Conquista Project has the ability to be a strong cash generator for the Company under current divestment plan

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Brazilian Domestic Project Hub

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	July 2016
Average FX - AUD to BRL	2.00	2.50
Average FX - AUD to USD	0.91	0.75
Average FX - USD to BRL	2.20	3.30
Ave Sales Price - Mine Gate US$/wmt Product	37.6	24.0-26.0
Ave Sales Price - Mine Gate R$/wmt Product	82.7	79.2-85.8

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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)

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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Centaurus – Investment Summary

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Rejuvenated and repositioned Brazilian-focused resource developer New Strategic Alliance secured with prominent Brazilian exploration group Outstanding new gold targets at Mombuca with drilling now underway New copper exploration opportunity at Aurora New 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 underway First iron ore divestment completed on Candonga DSO Project Discussions continuing on other iron ore assets

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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Corporate Presentation – July 2016

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NEW PARTNERS, NEW OPPORTUNITIES, NEW DIRECTIONS