b'CENTAURUS METALS ANNUAL REPORT 2023Exploration & Growth PipelineBOI NOVO COPPER GOLD PROJECTDuring the reporting period, the Company secured the Boi Novo Copper-Gold Project, as part of Centaurus Horizon II Business Development and Growth Strategy in northern Brazil, covering 35km2 of highly prospective ground in the Carajs Mineral Provincethe worlds premier Iron-Oxide Copper-Gold (IOCG) address. The Project is located just 30km from Parauapebas (population 250k), the regional centre of the Carajs, and less than 20km from BHPs Antas Norte copper flotation plant.A Drone Magnetics (DMAG) survey was completed across the project on 100m spaced north-south lines. The results clearly identify the iron formation and 2D inversion of the survey data has helped understand the geometry of the iron formation and host volcano-sedimentary sequence (Figure 15). Surface mapping has confirmed the regional extent of the iron formation location derived from the DMAG survey. Figure 16: Exploration Manager, The Company has completed an extensive soil sampling campaignGaudius Montresor at with more than 3,000 samples taken. Results indicate that theBoi Novo Project.Project hosts four distinct target areas with +500pm copper-in-soil anomalies along 12km of discontinuous strike coincident with theDuring field mapping, Centaurus geologists identified sub-crops and drone magnetic anomalies. These targets are the Bufalo, Nelore,blocks of partially to strongly weathered mafic and tonalitic rocks Zebu and Guzera Prospects (Figure 15).hosting copper oxide mineralisation (malachite and chrysocolla) and Within the broader anomalies there are discrete zones of +1,000ppmtrace copper sulphide minerals (chalcopyrite). The best result from copper-in-soil anomalies extending over a strike length of more thanrock chips sampling to-date returned 2.24% Cu and 0.57g/t Au. 1.5km. The soil geochemistry results include soil values of up to 3,650ppm Cu and 0.334ppm Au. Figure 15: The Boi Novo Copper-Gold Project, copper-in-soils isolines and rock chip locations over geological mapping20 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 21'