Centaurus Secures Glencore Offtake and US$320M Financing Interest for Jaguar

The company is progressing to shortlist preferred financiers and anticipates appointing a lead financier or syndicate by Q3 2026, aligning with its targeted FID. This financing momentum builds on earlier updates where Centaurus attracted similar interest, reinforcing the project’s appeal to global and domestic lenders. The financing process is being supported by Standard Chartered Bank, underscoring the strategic approach to securing a balanced debt and equity funding package.

Engineering Progress and Environmental Approvals

Basic engineering work for Jaguar is nearing completion, with core deliverables such as Process Design Criteria, Flow Diagrams, and Equipment Lists updated to reflect process optimisations. Notably, the tailings management system has been simplified by combining sulphide waste streams, reducing environmental impact and project complexity. Site layout optimisation has cut the project disturbance footprint by 7.5%, including a reduction in primary forest impact.

All design amendments have been submitted to Pará State’s environmental agency SEMAS, and Centaurus holds key environmental approvals and mining licences necessary to commence construction. These steps provide a solid regulatory foundation ahead of the FID.

Exploration Advances at Boi Novo and Rio Novo Copper-Gold Projects

Centaurus completed diamond drilling at the Boi Novo Copper-Gold Project during the quarter, with assay results pending. The drilling focused on expanding high-grade copper-gold mineralisation at the Nelore West and East prospects, supported by Down Hole and Fixed Loop Electromagnetic surveys and soil sampling. Exploration at the newly acquired Rio Novo tenure commenced with over 1,200 samples collected and initial Fixed Loop EM surveys underway on priority targets, many of which have never been subjected to modern geophysics or systematic soil sampling.

Rio Novo’s exploration program is designed to define drill targets for a maiden program planned for Q3 2026, leveraging discovery techniques proven successful at Boi Novo and Jaguar. The expanded 75km² combined footprint positions Centaurus well for sustained copper-gold exploration in Brazil’s prolific Carajás Mineral Province.

Jambreiro Iron Ore Pilot Testwork Validates High-Quality DR Pellet Feed

At the Jambreiro Iron Ore Project, pilot plant testwork produced over half a tonne of high-grade Direct Reduction Pellet Feed concentrate averaging 67.8% iron with low silica and alumina impurities, meeting stringent DR product specifications. Metallurgical recovery was strong at 89.3%, consistent with prior bench-scale results. Process refinements, including upgrades to magnetic separation circuits, improved mass recovery and concentrate grades.

Filtration and tails management tests further support operational efficiencies and potential capital cost savings by enabling co-disposal of tailings streams. These results underpin ongoing offtake discussions and provide technical confidence as Centaurus evaluates development pathways for Jambreiro.

Corporate and Social Responsibility Highlights

Centaurus maintained a cash position of A$21.6 million at quarter-end, supporting ongoing exploration, project development, and corporate activities. The company reported zero lost time injuries over 45 months, reflecting strong safety performance.

Social initiatives continued with local workforce training in digital skills and expansion of the Semear para Educar (Sow to Educate) community program, including new school gardens and environmental education in São Félix do Xingu. These efforts align with Centaurus’ ESG commitments, combining Towards Sustainable Mining and Principles of Responsible Investment frameworks.

With engineering nearing completion, binding offtake in place, and financing discussions advancing, Centaurus is positioned to make a critical Final Investment Decision by September 2026, a milestone that will shape the trajectory of its Jaguar Nickel Project and broader Brazilian portfolio.

These developments build on the company’s previous success in attracting project finance interest and securing environmental approvals, as detailed in the recent US$320M project finance interest and BNDES R$1 billion LOI announcements.