Centaurus Metals advised that it has taken another important step towards its objective of becoming a high-grade nickel sulphide producer with the commencement of exploration, resource definition and project development programs for 2020 at the Jaguar Nickel Sulphide Project in north-eastern Brazil. The next 12 months were shaping up as a defining period in the Company's history as it embarked on a multi-pronged strategy aimed at delivering a maiden high-grade JORC Mineral Resource at Jaguar, making new massive sulphide nickel discoveries and putting in place the foundations for a rapid pathway to project development and licensing. Exploration & Resource Development: Third diamond drill mobilised to site with all three rigs operating on double-shift. Drilling currently focused on Jaguar South and Onça-Preta Deposits to extend known high-grade mineralisation and identify new high-grade zones. Exploration drilling at other deposits and new prospects to start over the coming months. Next batch of assay results due by the end of January. Down-Hole and Fixed Loop Electromagnetic (EM) equipment has landed in Brazil awaiting customs clearance, with a geophysicist from Southern Geoscience to visit site in at end of January to train a dedicated Centaurus EM survey team. Metallurgy & Engineering: A comprehensive review of historical metallurgical data indicates multiple value adding and project risk reduction opportunities exist within the processing and engineering disciplines. Metallurgical samples of Jaguar South and Onça-Preta ores have been selected and delivered to Australia for mineralogy assessment and metallurgical test work ­ to begin this month. Preliminary water balance, waste storage requirements and project layout studies well advanced. Project Environmental Licensing: Terms of reference for the key Environmental Impact Assessment (EIA/RIMA) issued by the Pará Environmental Agency (SEMAS). Wet season environmental data collection for the Jaguar Project EIA/RIMA already underway. Funding: Centaurus remains well-funded to undertake its 2020 work program with $9.7 million in cash reserves at the end of December 2019.