Centaurus Metals has received firm commitments from over 20 high-quality Australian and international institutional investors to raise $75 million as part of an institutional placement to underpin the next phase of growth and development of its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil, Jaguar Project.

Specifically, the funds will be used to complete a Definitive Feasibility Study for Jaguar and maintain the Company's very strong existing drilling momentum. A 90,000m drill program planned for 2022 will include significant ongoing diamond drilling designed to maximise the Measured and Indicated components of the extensive Resource inventory ready for Reserve conversion. Funds will also be used for pre-development and financing activities ahead of a planned Final Investment Decision on the Project in Q3 2023.

There was very strong demand for the Placement from over 20 Australian and international institutional investors as well as existing substantial shareholders, including affiliates of the Sprott Group, McCusker Holdings, Dundee Goodman Merchant Partners and Harmanis Holdings. Institutional bidding under the placement significantly exceeded the $75 million Placement amount and bids were scaled to accommodate the strong demand.

Centaurus recently delivered an updated JORC Mineral Resource Estimate of 80.6Mt at 0.91% Ni for 730,700 tonnes of contained nickel metal for the Jaguar Project, making it one of the largest undeveloped nickel sulphide projects globally with class-leading ESG credentials given the extremely low carbon footprint the Project will have as a result of Brazil generating 80% of its grid power from renewable sources. The Company anticipates that, with the updated resource estimate and ongoing development drilling, the DFS will show a further enhancement of the already robust economics of the Jaguar Project. Development drilling over the next six months is designed to increase the Measured and Indicated component of the MRE to over 500,000 tonnes of contained nickel to underpin a long-life nickel sulphate project producing at least 20,000 tonnes of nickel in sulphate per annum.

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