CENTAURUS METALS LIMITED — Share Issue/Capital Change 2020

Feb 26, 2020

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

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27 February 2020

PROPOSED CONSOLIDATION OF CAPITAL

Centaurus Metals Limited (ASX: CTM ) (the Company) advises that the Board will seek shareholder approval at a General Meeting of Shareholders, currently scheduled for 31 March 2020, to consolidate the issued capital of the Company through the conversion of every fifteen (15) existing shares into one (1) share (Consolidation).

The Company currently has 3,790,971,362 Shares on issue, however the Board considers the Consolidation will result in a more appropriate and effective capital structure for the Company and a more appropriate share price for a wider range of investors as it continues to progress its projects in Brazil.

As the Consolidation applies equally to all shareholders, individual shareholdings will be reduced in the same ratio as the total number of shares (subject only to rounding up of fractions). Accordingly, the consolidation will have no material effect on the percentage interest of each individual shareholder.

If the Consolidation is approved then, in accordance with ASX Listing Rule 7.22.1, all Options and Performance Rights currently on issue by the Company will be consolidated in the same ratio as Shares, and the exercise price of the Options will be amended in inverse proportion to that ratio as directed by the ASX Listing Rules.

If approved by Shareholders, the Consolidation will take effect on 2 April 2020. The following is an indicative timetable (subject to change) of the key events:

Event	Date
General Meeting	31 March 2020
Notification to ASX that Consolidation is approved	31 March 2020
Last dayfor tradinginpre-Consolidation securities	1 April 2020
Trading commences in the post-Consolidated securities on a deferredsettlement basis	2 April 2020
Last dayfor Companyto register transfers on apre-Consolidation basis	3 April 2020
First day for Company to register securities on a post- Consolidation basisand issue new holdingstatements	6 April 2020
Completion of despatch of new holding statements. Deferred settlementtradingends	14 April 2020
Normal tradingstarts	15 April 2020

Shareholders are encouraged to review the Explanatory Statement in the Notice of Meeting which was lodged with the ASX today.

-ENDS-

For further enquiries please contact:

John Westdorp

Company Secretary Centaurus Metals Limited T: +61 8 6424 8420

Authorised for release by:

Darren Gordon Managing Director Centaurus Metals Ltd T: +61 8 6424 8420

Australian Office Centaurus Metals Limited Level 3, 10 Outram St West Perth WA 6005 AUSTRALIA

Brazilian Office Centaurus Brasil Mineração Ltda Avenida Barão Homem de Melo, 4391 Salas 606 e 607 - Estoril CEP: 30.494.275, Belo Horizonte MG BRAZIL

ASX: CTM ACN 009 468 099 office@centaurus.com.au T:: +61 8 6424 8420