15
CENTAURUS METALS LIMITED     ANNUAL REPORT
UNDERGROUND POTENTIAL 
Beyond the open-pit mine plan, an underground resource comprising 21.5Mt at 
1.46% Ni (including 15.5Mt at 1.50% Ni in the higher-confidence Measured and 
Indicated categories) could be mined in the future by conventional long-hole 
stoping via two declines, potentially extending mine life and providing higher grade 
feed to the plant.  
PROJECT APPROVALS
Centaurus received the formal grant of the mining lease issued in October 2025, 
The Company now holds all the key environmental approvals and mining licences, 
including the previously issued preliminary licence (LP) and installation licence 
(LI), required to start the construction of the Jaguar Project.
Figure 5: Jaguar and OnÒ«a Deposits showing Nickel grade Ore Blocks 

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