October 2013 ASX Announcement PORT SPENCER General Manager 29th October 2013 The Company Announcements Office Australian Securities Exchange Electronic Lodgement System Dear Sir/Madam FINAL FEDERAL GOVERNMENT ENVIRONMENTAL APPROVAL RECEIVED FOR PORT SPENCER Highlights • Federal government environmental approval granted for Port Spencer export facilities • Conditions set by Federal Government for development • Completes one of the final conditions required in the provisional Development Approval granted by the State Government in December 2012 • Road transport and construction related approvals remain • Federal and State Government approvals required for Fusion magnetite project pipeline route, processing plant and mine that underpins port development Summary Centrex Metals Limited (“Centrex”) has moved a significant step closer in its development of the Port Spencer export facility on the east coast of the Eyre Peninsula in South Australia having received final Federal Government environmental approvals. The approvals were received from the Department for Sustainability, Environment, Water, ASX Announcement — October 2013 Populations and Communities (“SEWPaC)” and come under the Environmental Protection & Biodiversity Conservation Act (“EPBC Act”). The EPBC Act approvals cover all onshore and offshore facilities required for shipping access and the export of grain and iron ore. These Federal Government approvals also include a desalination plant to provide process water to Centrex’s proposed magnetite iron ore mines in the region. The desalination plant still requires State Government approval prior to development. EPBC Act approvals for Port Spencer complete one of the final conditions of the provisional Development Approval received from the South Australian Government in December 2012. Road transport and construction related approvals remain should the project move into execution. A separate EPBC Act referral is currently in progress for the Fusion magnetite mine, process plant and pipeline corridor, the flagship project of Centrex’s joint venture with Wuhan Iron & Steel (Group) Co. (“WISCO”). The development of Fusion located just 40km southwest of Port Spencer will underpin the port’s development, and provide the project and other proposed mines in the region an efficient and low-cost route to market. Execution of the Port Spencer project will be dependent on Fusion or other such significant customer for its development. Centrex’s magnetite joint venture with Baotou Iron & Steel (“Baotou”) at Bungalow, and its own Wilgerup hematite DSO project are also located roughly 100km north and northwest of Port Spencer respectively. TABLE: Summary of Port Spencer and Fusion approvals status. Facility Federal EPBC Approval State Development Approval Jetty and Shiploader Hematite Storage Facility Grain Storage Facility Magnetite Storage and Dewatering Required Desalination Plant Required Fusion Pipeline route Required Required Fusion Magnetite Processing Plant Required Required Fusion Open Pit Mines Required Required CENTREX METALS LIMITED Unit[Type 1102, text] 147 Pirie Street, Adelaide, South Australia, 5000 | P: +61 8 8100 2200 | centrexmetals.com.au | ABN 97 096 298 752 ASX Announcement — October 2013 Port Spencer EPBC Act Approvals SEWPaC declared the Port Spencer development a controlled action in late 2012 with preliminary documentation determined as the level of assessment. Centrex provided the additional information required and made this available for public comment. SEWPaC today provided approval of the development with conditions for the construction and operation of the port including; • Development of a Southern Right Whale management plan, including keeping accurate records and regular reporting to the Federal Environment Department • Exclusion zones and under water noise level limitations for piling and blasting • Development of an oil spill contingency plan • Participation in the Spencer Gulf Ecosystem Development Initiative (“SGEDI”) to develop a comprehensive and informed decision support system for future development For further details on the conditions please refer to http://www.environment.gov.au/cgi-bin/epbc/epbc_ap.pl?name=current_referrals;limit=90 Fusion EPBC Act Referral Eyre Iron Pty Ltd (“Eyre Iron”) the management company of Centrex’s magnetite joint venture with WISCO, submitted a voluntary referral under the EPBC Act for its flagship Fusion project’s mine, processing plant and pipeline corridor. A slurry pipeline will run the length of the 40km pipeline corridor to transport iron ore concentrate from Fusion to Port Spencer. On 22nd August SEWPaC confirmed that the proposed action is deemed a “controlled action” under the EPBC Act due to potential impacts on threatened species listed under section 18 & 18A of the act. The method of assessment has been determined as “preliminary documentation” and a list of additional information required was provided by SEWPaC. This list will be combined with guidelines expected from the South Australian Government as part of the eventual development application and mining lease applications for Fusion. Baseline environmental and related studies for Fusion are ongoing. For further information please contact: Ben Hammond Steve Brown Chief Executive Officer Chief Executive Officer Centrex Metals Limited Port Spencer Pty Ltd Ph (08) 8100 2200 Ph (08) 8221 6177 CENTREX METALS LIMITED Unit[Type 1102, text] 147 Pirie Street, Adelaide, South Australia, 5000 | P: +61 8 8100 2200 | centrexmetals.com.au | ABN 97 096 298 752 .