b'ABOUTCENTAURUSCentaurus Metals Limited (ASX: CTM/OTCQX: CTTZF) is an Australian-based minerals exploration company with a portfolio of assets in Brazil.The Companys core focus is on the near-term development of the JNP,located in the world-class Carajs Mineral Province in northern Brazilone of the worlds premier mining addresses.Centaurus acquired the JNP from globaltonnes of contained nickel, representing moreThe very low operating costs give us mining giant, Vale S.A, in April 2020, deliveringthan 81% of the Global MRE. confidence that Jaguar will remain financially the Company an exceptional exploration,A positive FS and maiden Ore Reserveviable throughout the nickel price cycle and growth and development opportunity infor the JNP were completed in July 2024,will be cost competitive with Indonesian the international nickel sulphide sector, andunderpinned by the November 2022 MRE,laterite nickel supply. Importantly howeverproviding the cornerstone of our ambition todemonstrating strong economics and a clearunlike Indonesian supplythe JNP will offer build a diversified Brazilian critical mineralspathway for the development of Jaguar asstrong ESG outcomes, including a very low business with best-in-class ESG credentials, asa sustainable, long-life and low-cost nickelcarbon footprint.outlined in this Report. project. The FS only considered open pitSustainability across all materiality topics was Centaurus has since defined a global Mineralnickel sulphide production over an initial 18- incorporated into the FS and the Front-End Resource Estimate (MRE) totalling 138.2Mtyear mine life, delivering forecast productionEngineering Design (FEED) stages.@ 0.87% Ni for 1.20Mt of contained nickel,of approximately 18,700 tonnes of recoveredWell-designed sustainability systems, confirming the JNP as one of the largest nickelnickel metal per year at a low life-of-minedeveloped and incorporated during these sulphide resources held by an ASX-listed(LOM) C1 operating cost of US$2.30/lb andphases, are expected to create a strong company and the largest outside of the majorall-in sustaining cost (AISC) of US$3.57/lb, on afoundation for Centaurus long-term growth. mining companies.contained nickel basis. Our governance systems will also expand The global MRE at the JNP has increased byThe study confirmed low capital intensity,to support the transition from explorer to 27% since the previous Mineral Resourcewith pre-production CAPEX of US$371operator.Estimate announced in November 2022 andmillion (including pre-strip and contingency), more than doubled since the Companysunderpinning a Post Tax Net Present Value maiden MRE was announced in June 2020.(NPV) of A$997 million (8% discount rate) The latest Resource included a more than 30%and Internal Rate of Return (IRR) of 31% per increase in the higher-confidence Measuredannum.and Indicated categories to almost 1 million JNP South Deposit Area, looking North8'