Centaurus Resources Limited (ASX Code: CUR)

ASX RELEASE                             24 JUNE 2009

LIBERDADE PROJECT LEGAL ACTION

The Board of Centaurus Resources Limited (ASX Code: CUR) advises that it has today commenced legal action for breach of contract against its Joint Venture partner Minera��o Marsil Ltda and an associated company Master Minera��o Ltda. Centaurus is seeking to; terminate the joint venture contract governing the Liberdade Iron Ore Project, and, a consequent award for damages resulting from the alleged breach of contract.

After pursuing all other avenues for the realisation of value from the company's investment in the Liberdade asset over the past 11 months, the Board is now of the opinion that legal action for breach of contract is the best option for shareholders to realise value from Centaurus' work and investment at this Project. Centaurus will continue to advise the market in relation to these proceedings.

The legal proceedings relating to Liberdade should not impact on the active and ongoing exploration work that Centaurus is undertaking on its 100% owned Passabem and Itamb� Iron Ore Projects. 

At the Itamb� Project an initial resource estimate is currently being prepared while at Passabem, the Company has recently completed its first drill program over the southernmost 500 metres of the total 5.2 kilometres strike extent of the mineralisation (see ASX Release - 25 May 2009).  Assay results from the Passabem Project are due by the end of June 2009.

Mark Papendieck

Managing Director

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

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