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CentaurusMetals Limited Developing a globally significant nickel project for a clean energy future 0 78 % JUNE 2021 QUARTERLY ACTIVITIES REPORT Value - Add Scoping Study confirms outstanding economic returns from production of battery - grade nickel sulphate with strong margins and low capital intensity ; Resource in - fill and extensional drilling continues to deliver outstanding results including a record intercept of 56.1m at 2.05 % Ni incl . 17.6m at 4.86 % Ni 26 July 2021 JAGUAR NICKEL SULPHIDE PROJECT Value - Add Scoping Study for the Jaguar Nickel Sulphide Project development highlights outstanding economic returns from the production of battery - grade nickel sulphate : • Production of + 20,000tpa of recovered nickel in sulphate and + 9,600tpa of a mixed sulphide precipitate ( MSP ) over an initial 13 - year mine life Post - tax NPV8 of ~ A $ 1.11 billion ( ~ US $ 831 million ) and post - tax IRR of ~ 52 % Post - tax capital payback of ~ 1.8 years from first nickel sulphate production • Net Revenue totalling ~ A $ 6.04 billion ( ~ US $ 4.53 billion ) • EBITDA totalling ~ A $ 3.25 billion ( ~ US $ 2.44 billion ) • Average Annual Free Operating Cash Flow ( Pre - tax ) of ~ A $ 252 million ( ~ US $ 189 million ) High LOM Cash Operating Margin of ~ US $ 4.27 / lb of Ni Pre - production CAPEX of ~ US $ 288 million ( including contingency ) Further outstanding results from resource in - fill , extensional and step - out drilling , including : • • JAG - DD - 21-151 : 56.1m at 2.05 % Ni from 206.0m , incl . 17.6m at 4.86 % Ni from 208.0m and 6.7m at 2.09 % Ni from 255.4m ( Jaguar South ) JAG - DD - 21-117 : 12.9m at 2.95 % Ni from 31.1m ; incl . 4.0m at 4.70 % Ni from 35.8m ( Jaguar South ) • JAG - DD - 21-142 : 64.9m at 1.07 % Ni and 2.10 % Zn from 216.5m ( Jaguar Central ) • JAG - DD - 20-113 : 32.5m at 1.45 % Ni from 258.8m ; incl . 6.3m at 1.87 % Ni from 268.2m and 6.7m at 2.20 % Ni from 278.8m ( Jaguar Central ) 25,000m regional drill program underway targeting new discoveries outside of the existing Resource areas , with an initial focus on the Leão , Tigre and Filhote prospects . Initial results from Filhote indicate potential for platinum group element ( PGE ) mineralisation , principally palladium ( Pd ) , with initial shallow results including : . JAG - RC - 20-005 : 32.0m at 0.39g / t Pd , 0.05g / t Pt and 0.04 % Ni from 41.0m ; incl . 6.0m at 0.62g / t Pd , 0.08g / t Pt and 0.04 % Ni from 61.0m Second Possession Agreement secured providing Centaurus with possession rights over approximately 1,500 hectares of the land at Jaguar , covering ~ 85 % of the current Resource area . CORPORATE Cash at 30 June 2021 of $ 20.4 million . ralian Office Centaurus Metals Limited Level 2 , 1 Ord St West Perth WA 6005 AUSTRALIA Brazilian Office ASX : CTM Centaurus Brasil Mineração Ltda Avenida Barão Homem de Melo , 4391 Salas 606 e 607 - Estoril CEP : 30.494.275 , Belo Horizonte MG BRAZIL ACN 009 468 099 office@centaurus.com.au T : +61 8 6424 8420