• Strong interest from international financiers for Jaguar Nickel Project development
• Binding offtake agreement executed with Glencore for nickel concentrate supply
• Highly experienced Project Director appointed to lead Jaguar Project development

Centaurus Metals reported strong interest from leading international financiers for the development of the Jaguar Nickel Project in Brazil, with competitive non-binding offers for up to US$320 million in project finance. This included a Letter of Intent from Brazil's national development bank BNDES for R$1 billion (~US$190 million) in debt funding. The company also executed a binding offtake agreement with Glencore for the supply of 20,000 dry metric tonnes per annum of high-grade nickel concentrate, representing approximately one-third of Jaguar's forecast annual production capacity. Centaurus appointed an experienced mining executive, Thiago Costa, as Project Director to lead the development of the Jaguar Project. On the exploration front, the company reported progress at its Boi Novo copper-gold project, with a completed diamond drill program and the commencement of surface exploration work at the newly acquired Rio Novo tenement. At the Jambreiro iron ore project, the company achieved excellent results from pilot plant test work, producing over half a tonne of high-grade direct reduction pellet feed concentrate that meets the requirements for a direct reduction quality product.

The Glencore offtake agreement is for the supply of 20,000 dry metric tonnes per annum of high-grade (32%) nickel concentrate (6,400 tonnes per annum of nickel in concentrate) over a 5-year term commencing in 2029.