b'CENTAURUS METALS ANNUAL REPORT 2024CorporateOPTIONS EXERCISECentaurus Non-Executive Directors collectively invested a further $426,750 and increased their equity positions in Centaurus following the exercise of options expiring 31 May 2024.STRATEGIC PARTNERING PROCESSDuring the reporting period, the Jaguar Strategic Partnering Process continued to advance with ongoing engagement with a range of interested parties in conjunction with the Companys financial adviser, Standard Chartered Bank. The Company is continuing to work with interested parties in parallel to progressing the JVEP to support a FID for Jaguar.Mineral Resources & Ore Reserves TOTAL MINERAL RESOURCES & ORE RESERVES STATEMENTThe Companys Mineral Resource for its nickel holding is shown in the following tables.Ore ReservesDeposit Ore Reserves as at 31 December 2024Classification Ore Tonnes Ore Grades Contained MetalMT Ni % Cu % Co ppm Ni (kt) Cu (kt) Co (ky)Jaguar Proved 8.8 0.80 0.05 231 70.3 4.4 2.0Probable 51.5 0.70 0.05 195 358.4 25.6 10.0Total 60.3 0.71 0.05 201 428.7 30.0 12.0Proved 2.6 1.15 0.09 635 29.6 2.2 1.7Ona Preta Probable 0.1 0.66 0.06 316 0.9 0.1 0.1Total 2.7 1.12 0.08 619 30.5 2.3 1.7Proved 11.4 0.88 0.06 323 99.9 6.6 3.7Jaguar NickelProbable 51.6 0.70 0.05 196 359.3 25.7 10.1ProjectTotal 63.0 0.73 0.05 219 459.2 32.3 13.8The rounding in the above tables is an attempt to represent levels of precision implied in the estimation process and apparent errors in summation may result from the rounding. Ore Reserve has been reported using a Net Smelter Return (NSR) cut-off of US$12.02/tonne which includes provision for feed grade, recovery, treatment costs, freight and nickel payables. 20 ANNUAL REPORT CENTAURUS METALS LIMITED'