b'CENTAURUS METALS ANNUAL REPORT 2024UPDATED JORC MINERAL RESOURCE ANDThe update included a 30% increase in the Measured and ORE RESERVE ESTIMATES Indicated component of the Global MRE to 112.6Mt @ 0.87% Ni During the reporting period, Centaurus announced a significantfor 978,900 tonnes of contained nickel 2 .increase in both the size and confidence levels of the MineralThe high-grade component, estimated using a 1.0% nickel Resource for the Jaguar Project, cementing its position as acut-off grade, has also continued to increase with around 25% Tier-1 global nickel sulphide development project.of the high-grade material located within 100m of surface. The high-grade Resource totals 36.1Mt @ 1.49% Ni for 537,900 The updated JORC 2012 Mineral Resource Estimate (MRE)tonnes of contained nickel 2 . comprises 138.2Mt @ 0.87% Ni for 1.20 million tonnes of contained nickel. The global MRE at Jaguar increased by 27%Mineralisation at Jaguar remains open both at depth and locally since the previous Mineral Resource Estimate announced inalong plunge, with the potential to continue to expand the MRE November 2022 and more than doubled since the Companysif required. Multiple DHEM plates remain untested outside the maiden MRE was announced in June 2020. MRE limits.Jaguar Nickel Project Global MRE Measured & Indicated Resources Inferred Resources1,400,0001,200,000 1,204,400Contained Nicket Metal (kt)1,000,000 948,900800,000 730,700600,000 517,500 562,600400,000200,0000 Jun 2000 Jan 2021 Dec 2021 Nov 2022 Aug 2024JORC Mineral Resource EstimateFigure 6: Jaguar Nickel Project Global MRE over time12 ANNUAL REPORT CENTAURUS METALS LIMITED'