b'Jaguar Nickel Sulphide ProjectThe Jaguar Project is approximately 250km from the regionalPROJECT DEVELOPMENTcity of Parauapebas (population ~267,000) in the northern Brazilian State of Par and sits within a 30km 2tenement packageA positive Feasibility Study (FS) for the development of the in the So Flix do Xingu municipality. The Carajs MineralJaguar Nickel Sulphide Project was published on 2 July Province is Brazils premier mining hub, containing one of the2024. The FS outlined robust economics from an initial worlds largest known concentrations of bulk tonnage Ironconcentrate-only project delivering a long-life production profile Oxide-Copper-Gold (IOCG) and iron ore deposits. at first quartile operating costs. The Jaguar Project represents a cornerstoneThe outcomes of the Jaguar FS demonstrated the potential for Jaguar to become a sustainable, long-term and low-cost asset for Centaurus that will underpin theproducer of low-emission nickel for global markets, generating Companys ambition to build a diversified Brazilianstrong financial returns while also delivering significant social critical minerals business with best-in-classand economic benefits for the local communities where the Environmental, Social and Governance (ESG)Project is located. credentials. The FS only considered open pit nickel sulphide ore over Jaguar is currently one of the largest undeveloped nickelan initial 18-year mine life, delivering nickel sulphide feed sulphide projects globally and a highly strategic potential sourceto a 3.5Mtpa conventional nickel flotation plant to produce of unencumbered nickel concentrate product. approximately 18,700 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of US$2.30/lb and AISC of US$3.57/lb on a contained nickel basis. Figure 5: Jaguar Nickel Sulphide Project LocationCENTAURUS METALS LIMITED ANNUAL REPORT 11'