Mr. Sam Leung reports

CENTAURI MINERALS MOBILIZES FOR FIRST DRILLING PROGRAM AT RIO GRANDE GOLD-COPPER PROJECT SINCE 2013

Centauri Minerals Inc. has provided an update on exploration activities at the Rio Grande gold-copper project in Salta province of northern Argentina.

Progress and execution highlights include:

• Completion of the geophysical program at the Rio Grande gold-copper project identifies new drill targets for both near-surface resource expansion and potential mineralization sources at depth.
• Mobilization continues with full refurbishment of historical camp at Rio Grande to support the first new drilling programs since 2013:
  • The phase 1 program targets 12,000 metres (m) of diamond drilling, with two drill rigs from a local provider being mobilized to site this month.
  • The first rig will focus on near-surface exploration to expand the understanding of known resources and for collection of new samples for future engineering/metallurgical testwork.
  • The second rig will focus on deeper targets identified from the integration of the historical and recently acquired geophysics, which could help identify potential generative sources of the mineralized system at Rio Grande.
  • The phase 1 program is expected to take approximately six months (into Q2 (second quarter) 2027), at which time Centauri will evaluate findings and has financed optionality to continue toward 24,000 m with two rigs or further ramp-up activities as part of a phase 2 program.
• Recent exploration team additions are supporting ramp-up of drilling at Rio Grande as Centauri's immediate priority, however, new fieldwork initiatives have commenced at the other portfolio projects, Aguas Calientes, Catua and Frontera (subject of a future news release).

Sam Leung, chief executive officer and director of Centauri, commented:

"One month into Centauri as a public company, we are pleased with the promising target generation results that support mobilization and ramp-up to drilling at Rio Grande, which is in full swing on the ground in northern Argentina. Our first priority is drilling at Rio Grande, but we have also begun parallel preparations for exploration across our earlier stage portfolio in the region. Our team appreciates the continuing investor support as we work hard to begin a steady pace of results driven catalysts in the weeks and months ahead."

Geophysical program and drill target generation at Rio Grande

In the third quarter of 2026, Centauri completed a 3-D magneto-telluric (MT) survey on Rio Grande, which covered an area of approximately 56 square kilometres (km), combined with a reprocessing review of historical geophysics, geochemistry and geological mapping in order to define drill targets for: (a) shallow areas with near-surface resource expansion potential; and (b) high-priority porphyry targets at depth that aims to confirm the potential of a larger-scale gold-copper-silver system.

The shallow phase 1 drilling program will evaluate infill areas where the geological, geochemical and geophysical data show greater potential to expand the existing mineral resource estimate (MRE), as well as to improve understanding of current estimated pit shell models and where extensions may be possible.

A large low-resistivity (high-conductivity) target area measuring over 1.3 by 2.0 km appears to be located beneath the currently known ring-shaped mineralization that defines the Rio Grande deposit.

This distribution of low resistivity (high conductivity) may relate to a predominantly intrusive setting in the central area, which transitions outward to higher resistivity that could be volcano-sedimentary dominated rocks toward the peripheries and/or to alteration zoned concentrically outward. The 3-D inversion modelling presents a central domain of moderate-high resistivity (nominally more than 100 ohm) open to the east, partially ringed by moderate-low resistivity (nominally less than 50 ohm). Within the central zone, an anomalous body of low resistivity (less than 30 ohm) is buried, compatible with a mineralized nucleus of a porphyry-type system. The MT data from the recently completed large survey area supported 1-D and 3-D inversion modelling that allowed imaging of the resistivity distribution down to a depth of three to four km.

Centauri's compilation and targeting work to date, which included a variety of geophysical data sets (ground magnetics, gradient array induced polarization and resistivity survey, MT survey), supports the potential presence of a large porphyry-type body at depth beneath the known ring-shaped deposit area and suggests a potential extension towards the northeast, which must be confirmed with future drilling.

Phase 1 drill targets

As a result of the compilation and targeting work, three main exploration areas have been defined for phase 1 drilling:

• Ring-shaped deposit (shallow drilling): drilling within and around the known ring-shaped mineralization to confirm and expand the existing MRE, including testing the shallow resistive zones to the southwest and northeast described above, and collecting new core suitable for engineering and metallurgical testwork;
• Area A (deep targets beneath the ring): located beneath the ring-shaped resources, where a magnetic low coincides with low resistivity-high conductivity (less than 50 ohm.m). The geophysics indicate that the higher conductivity begins at relatively shallow depths beneath the ring and continues down to the limits of the MT model. The low resistivity may reflect zones of more intense veining and sulphide mineralization. Area A can be further subdivided into three to four deep subtargets (T1 to T3), consistent with those defined by Regulus Resources Inc. in 2017, which have been refined using the new information collected by Centauri;
• Area B (northeast -- shallow and deep targets): Area B is both a shallow and a deep target:
  • Shallow target: The Cerro Cori area contains a different style of gold mineralization near surface related to fine stringers of sulphides and magnetite. In 2012 to 2013, Regulus Resources completed a small four-hole, 1,200 m drill program at the Cerro Cori target, approximately 1,000 m east-northeast of the Sofia zone of the Rio Grande deposit. Although the results were not considered notable at the time, the best intercepts included 297 m at 0.36 gram per tonne (g/t) gold (Au) from surface (hole RGR-12-118) and 19.0 m at 0.59 g/t Au (hole RGR-13-126). Please refer to the Regulus news releases dated Nov. 16, 2012, and June 27, 2013.
  • Deep target (northeast): Reprocessing of historical gradient array IP/resistivity and ground magnetic data has identified a zone of high chargeability and low magnetism trending northeast from beneath the ring-shaped resources, at elevations of around 3,000 metres above sea level. This may represent magnetite destruction by alteration and the presence of disseminated sulphides. This deeper target, also defined by the MT survey, is untested and may be contiguous with the deep conductive zone in area A, suggesting the Rio Grande system may remain open to the northeast. Area B will be tested as part of the phase 1 or phase 2 program.

Camp facilities and established infrastructure at Rio Grande

Centauri is completing and upgrading its existing camp at Arita, on the southern margin of the salar de Arizaro, Salta, approximately nine km east of the Rio Grande deposit. The site is located in an established mining district neighbouring the Lindero gold mine (Fortuna Mining Corp.), with year-round road access and an airstrip owned by Centauri. In the third quarter of 2026, the camp was put into service to support the 3-D MT geophysical program, with some services provided by a local supplier from the village of Tolar Grande. Work is now under way ahead of drilling, which includes construction of a new accommodation block for work crews, a new core logging facility, a power generation system, a fuel and waste storage system, a waste water treatment system, and health and safety services to support the phase 1 and 2 drilling programs. Centauri continues to prioritize employee hiring from the communities of Tolar Grande and San Antonio de los Cobres. The camp is expected to receive the first drill rigs at site later this month.

Qualified person

The scientific and technical data contained in this news release have been reviewed and approved by Dr. Kevin B. Heather, BSc (honours), MSc, PhD, FAusIMM, FGS, technical adviser to Centauri Minerals, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

About Centauri Minerals Inc.

Centauri Minerals is a mineral exploration company focused on northern Argentina, a mining region of increasing global significance. Centauri holds a 100-per-cent interest in a portfolio of exploration projects spanning approximately 40,000 hectares in the provinces of Salta, Jujuy and Catamarca, which was spun out from Aldebaran Resources Inc. The most advanced is the Rio Grande gold-copper project located in Salta, which has an independent National Instrument 43-101-compliant mineral resource estimate that highlights significant gold, copper and silver quantities. Centauri has offices and facilities in Salta, Argentina, and Vancouver, Canada. Centauri trades on the TSX Venture Exchange with the symbol CENT.

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