Ann: Centaurus Secures Nickel-Cobalt Development JV at Itapitanga, page-5

Highlights:
 Centaurus executes binding earn‐in joint venture Term Sheet with Simulus Group over its Itapitanga
Project in northern Brazil, where it has made a significant nickel‐cobalt discovery this year.
 Under the Term Sheet, Simulus has right to earn up to 80% of the Project, in stages, by free‐carrying
Centaurus through the entire exploration, resource evaluation and feasibility process to a Decision to
Mine and arranging finance for the Project.
 Simulus to be Project Manager with Brazilian in‐country support to be provided by Centaurus, as
required, on a cost recovery basis.
 Based on its experience in dealing with capital‐intensive laterite projects, Simulus believes there is a
unique opportunity with Itapitanga to develop a smaller‐scale, lower capital intensity project.
 The agreement also includes a strategic partnership to evaluate new nickel‐cobalt project
opportunities in Brazil.