Centaurus Metals announced that drilling targeting further resource growth at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil continues to deliver outstanding results, including a stand-out intersection of 20.4m at 3.94% Ni from 612.7m in the deepest hole completed to date. The deepest hole completed by the Company to date on the Project, JAG-DD-22-445 on section 478300mE, reached a final depth of 771m. This hole intersected 20.4m at 3.94% Ni from 612.7m with the intersection being at the base of the November 2022 MRE and more than 120m down-dip from the previous deepest hole on section JAG-DD-22- 223 (16.4m at 1.34% Ni).

This deep, high-grade intersection included an outstanding higher-grade intercept of 9.5m at 5.59% Ni from 612.7m. Further, drill-hole JAG-DD-22-487, the second deepest hole completed at Jaguar South, was collared 90m to the east of JAG-DD-22-445 on section 478390mE and intersected 11.0m at 1.43% Ni from 574.0m. Hole JAG-DD-22- 460, on section 478270mE, which is 30m to the west of JAG-DD-22-445, also returned an outstanding high-grade intersection at depth of 9.0m at 2.21% Ni from 599.0m.

This drilling confirms the presence of consistent high-grade mineralisation across multiple sections over at least 180m of strike and at depths greater than 600m from surface. DHEM conductor plates suggest the strike of the high-grade shoot could be up to 300m wide and extend for at least 200m below the current deepest drilling. The Jaguar Deeps drill program, which is scheduled to commence in April, will target this high-grade shoot.

The Jaguar South Deposit is the largest deposit at the Jaguar Project, hosting an MRE of 34.6Mt at 0.92% Ni for more than 316kt of contained nickel. The base of the November 2022 MRE continues to be constrained by the depth of drilling and ongoing step-out drilling continues to confirm that the mineralisation remains open at depth and along the +800m strike length of the deposit in both directions. Highlights of the new assay results received from drilling at the Jaguar South Deposit include the following down- hole intervals: Hole JAG-DD-22-445: 13.4m at 1.20% Ni, 0.01% Zn, 0.05% Cu and 0.02% Co from 428.0m; including 4.8m at 2.76% Ni, 0.02% Zn, 0.11% Cu and 0.03% Co from 436.6m; 3.3m at 1.10% Ni, 0.02% Zn, 0.04% Cu and 0.03% Co from 502.0m; 20.4m at 3.94% Ni, 0.31% Zn, 0.13% Cu and 0.08% Co from 612.7m; including 9.5m at 5.59% Ni, 0.53% Zn, 0.16% Cu and 0.11% Co from 612.7m; 1.0m at 3.02% Ni, 0.77% Zn, 0.06% Cu and 346.00% Co from 709.9m.

Hole JAG-DD-22-543: 4.8m at 1.62% Ni, 0.27% Zn, 0.15% Cu and 0.04% Co from 145.9m. Hole JAG-DD-22-552: 6.2m at 0.74% Ni, 0.29% Zn, 0.09% Cu and 0.02% Co from 207.9m. Hole JAG-DD-22-556: 12.5m at 0.57% Ni, 0.03% Zn, 0.02% Cu and 0.01% Co from 119.0m; 20.1m at 0.66% Ni, 0.35% Zn, 0.03% Cu and 0.01% Co from 229.0m; including 9.4m at 1.01% Ni, 0.64% Zn, 0.04% Cu and 0.02% Co from 239.7m; 27.0m at 1.25% Ni, 1.04% Zn, 0.03% Cu and 0.02% Co from 387.0m; including 12.0m at 2.27% Ni, 2.22% Zn, 0.06% Cu and 0.04% Co from 402.0m.

Furthermore, the Jaguar South deposit continues to grow to the west. Step-out hole JAG-DD-22-556, on section 477725mE, which is located 575m west of JAG-DD-22-445, intersected 27.0m at 1.25% Ni from 387.0m, including 12.0m at 2.27% Ni from 402.0m. This intersection is the first time that high-grade material has been intersected to the west of a north-south dolerite dyke, with the area immediately along strike to the west remaining untested.

DHEM surveys have been carried out to investigate the potential for a new high-grade shoot in the area that could expand the resource to the west.