Centaurus Metals Limited announce a significant increase in both the size and confidence levels of the Mineral Resource for its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil, cementing its position as a Tier-1 global nickel sulphide development project with class-leading GHG emission credentials. The updated JORC 2012 Mineral Resource Estimate (MRE), comprising 108.0Mt @ 0.87% Ni for 938,500 tonnes of contained nickel, confirms Jaguar as one of the largest nickel sulphide resources. Importantly, the success of the in-fill resource development program completed over the last 12 months has resulted in a 100% increase in the Measured & Indicated component of the Resource to 85.8Mt @ 0.85% Ni for 730,300 tonnes of contained nickel, representing more than 75% of the Global MRE.

The Measured and Indicated component of the MRE is set to underpin the Company's maiden Ore Reserve Estimate and Definitive Feasibility Study (DFS) due for completion in mid-2023. The global MRE at Jaguar has increased by 28% since the previous Resource Estimate that was announced in December 2021 and + 80% since the Company's maiden Resource was announced in June 2020. Continued successful step-out and extensional drilling has contributed to delivering an exceptional 421,000 tonnes of additional contained nickel metal since the Company's maiden Resource in June 2020, reflecting an impressive track record of defining new resources at the rate of 165,000 tonnes of contained nickel per annum through a sustained and focused drilling program at Jaguar.