IGO LIMITED — Capital/Financing Update 2022

Dec 27, 2022

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28 December 2022

ASX Limited Level 40 Central Park 152‐158 St Georges Terrace PERTH WA 6000

ASX RELEASED DATED 21 DECECEMBER 2022

We refer to the ASX Release issued by St George Mining Limited (the Company ) on 21 December 2022 and entitled ‘More Positive Lithium Results at Mt Alexander’.

The Company wishes to re‐issue this ASX Release with an expanded cautionary statement regarding the significance of visual estimates of pegmatites intersected in drilling. Attached is the amended ASX Release.

For ease of reference, the expanded cautionary statement is reproduced below:

“Cautionary statement:

While the Company is very encouraged by the geology identified in the completed drill holes, no qualitative or quantitative assessment of mineralisation within intersected pegmatites is possible at this stage. Geological logging is based on visual interpretations and should not be considered a substitute for laboratory analysis.

The visual observation of lithium‐bearing minerals within pegmatites does not necessarily equate to lithium mineralisation, and laboratory assays are required to confirm the presence and grade of any contained lithium. Given the nature of lithium mineralisation, it is not possible to estimate by visual assessment the abundance of any lithium within the pegmatites intersected by the completed drilling. Laboratory assays are required to determine the concentration of lithium mineralisation within the reported pegmatite intersections.

Based on the intersection angle of the drilling with the modelled pegmatites, downhole widths noted above are interpreted to be close to true widths.”

Yours sincerely

Sarah Shipway Company Secretary ST GEORGE MINING LIMITED

ST GEORGE MINING LIMITED ACN 139 308 973 Level 2, Suite 2, 28 Ord Street West Perth WA 6005 | PO Box 100 West Perth WA 6872 www.stgeorgemining.com.au | Phone +61 8 6118 2118

ASX / MEDIA RELEASE

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21 December 2022

MORE POSITIVE EXPLORATION RESULTS SUPPORT POTENTIAL FOR LARGE LITHIUM MINERAL SYSTEM AT MT ALEXANDER

Drilling indicates outcropping lithium-bearing pegmatites continue below surface up to a vertical depth of at least 200m – with latest assays for rock chips also highlighting new broad areas of prospective fractionated pegmatite outcrop

HIGHLIGHTS

Drilling confirms continuity of lithium pegmatites below surface:

• First-ever drilling of pegmatite outcrops – where rock chip samples have returned assays up to 3.25% Li2O – has been completed at Exploration Licence 29/962 (100% St George) and 29/638 (75% St George: 25% IGO)

• 20 drill holes (RC and diamond) have intersected pegmatites with visual lithiumbearing minerals (laboratory assays pending and see cautionary statement below), indicating a fertile lithium-mineral system along a strike of 1.7km

• Pegmatites commence at surface and are confirmed by drilling to continue up to 200m below surface (vertical depth) and in most cases remain open at depth

• Pegmatite-hosted lithium has now been discovered by drilling along a strike of 1.7km with a further 13km of the prospective pegmatite corridor remaining unexplored by drilling

• Major drill programme planned for 2023 to further define mineralisation and test large areas of pegmatite outcrops that have never been drilled

Latest assays for rock chip samples identify prospective pegmatites along an unexplored 5km strike of the pegmatite corridor:

• 79 rock chip samples from Exploration Licence 29/638 (75% St George: 25% IGO) return assays with anomalous lithium values and pathfinder elements for lithium mineralisation

• Pegmatite outcrops occur in swarms and clusters covering an area of 20 sq km

• Assays show favourable potassium to rubidium ratio (K:Rb), indicative of fractionated pegmatites which are prospective for lithium mineralisation

St George Mining Limited (ASX: SGQ ) (“ St George ” or “ the Company ”) is pleased to announce further encouraging results from lithium exploration at its Mt Alexander Project in WA’s Goldfields, confirming the lithium prospectivity at the Project.

John Prineas, St George Mining’s Executive Chairman, said:

“Our first-ever lithium targeted drilling at Mt Alexander was designed as an initial programme to test for continuity below surface of the high-grade lithium bearing pegmatite outcrops confirmed by rock chip sampling.

ST GEORGE MINING LIMITED ACN 139 308 973 Suite 2, Level 2, 28 Ord Street West Perth WA 6005 |PO Box 100 West Perth WA 6872 www.stgeorgemining.com.au | Phone +61 8 6118 2118

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ASX / MEDIA RELEASE

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“The drill programme has successfully confirmed that these pegmatites continue below surface – in some cases up to 200m below surface. Lithium-bearing minerals have been logged in these pegmatite intersections with assays pending.

“These results continue to indicate the potential for a large lithium bearing pegmatite mineral system at Mt Alexander, the full scope of which is still evolving as we continue work across the Project.

“This is a great start to our lithium drilling campaign at Mt Alexander and we are excited about ramping up drilling and broader exploration activities in 2023 with more than 20,000m of drilling scheduled.

“There has been no previous systematic lithium exploration at Mt Alexander and we are delighted with the results of our work programmes so far, which have quickly provided walk-up drill targets and confirmation of high-grade mineralisation starting from surface.

“With more than 13km of the pegmatite corridor yet to be effectively explored – and ongoing rock chip sampling confirming other areas of additional prospective pegmatites – we believe the exploration upside at Mt Alexander is significant.

“Importantly, the success of the drill programme means we end 2022 with significant momentum that will carry through into the New Year, with plans to resume drilling in as early as February.”

Maiden lithium drilling:

St George’s first-ever lithium drilling was focused on testing several lithium-bearing pegmatite outcrops at the Jailbreak Prospect. Drilling has confirmed that the pegmatites extend from surface up to depths of 200m. The pegmatites dip to the north with variable orientation from moderate to steeply dipping.

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Figure 1 – photo of drill core from MAD214 which intersected 5m of pegmatites from 49.5m downhole.

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In total, 23 drill holes – both RC and diamond – were completed to target pegmatites for 2,409m drilled. Of those, 20 drill holes intersected pegmatites; see Table 1 below.

Figure 2 shows the location of the completed drilling along the pegmatite corridor. The successive pegmatites tested appear to be stacked across the 1.7km strike creating a broad zone of mineralisation. Further drilling will be designed to explore the geometry and scale of these pegmatite bodies.

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Figure 2 – plan view map against interpreted geology showing drill hole locations from current programme.

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Figure 3 – drill core from MAD 211 showing pegmatite with lithium-bearing minerals.

Table 1 – Completed holes for the current RC drill programme:

Hole ID	Easting	Northing	Depth	Azi	Dip	Tenement	Pegmatite intercept*
MARC153	241038	6795434	65	170	-60	E29/962	14-27m
MARC154	241052	6795395	80	350	-60	E29/962	Scissor hole
MARC155	241056	6795467	125	170	-60	E29/962	52-57m
MARC156	241054	6795506	149	170	-60	E29/962	11-12m
MARC157	240916	6795825	77	170	-60	E29/962	21-26m
MARC158	240915	6795854	100	170	-60	E29/962	70-73m
MARC159	240925	6795790	80	350	-60	E29/962	2-7m
MARC160	240914	6795901	149	170	-60	E29/962	110-111m
MARC161	240885	6795829	60	170	-60	E29/962	22-30m
MARC162	241097	6795140	60	170	-60	E29/962	No intercept
MARC163	241287	6794448	60	170	-60	E29/638	20-21m, 22-23m
MARC164	241278	6794485	79	170	-60	E29/638	51-54m, 67-70m
MARC165	239550	6795875	100	170	-60	E29/638	16-17m
MARC166	239539	6795901	80	170	-60	E29/638	28-29m
MARC167	238004	6801315	131	240	-60	E29/638	Nickel hole; EM target
MARC168	241000	6795504	149	170	-60	E29/962	78-82m, 128-130m
MARC169	241096	6795171	100	170	-60	E29/962	31-37m
MARC170	241038.5	6795539	250	170	-60	E29/962	No intercept
MARC171	240854.2	6795936	200	170	-60	E29/962	101-103m

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MARC172	237957	6801577	140	237	-60	E29/638	Nickel EM Target
MARC173	235117	6804269	190	240	-65	E29/638	Seismic Target
MARC174	241000	6795507	156	210	-60	E29/962	133-135m
MARC175	240854.2	6795940	200	200	-60	E29/962	111-112m
MARC176	240853	6796060	90	170	-60	E29/962	58-59m, 74-76m

* Based on visual inspection

Table 2 – completed holes for the current diamond drill programme:

Hole ID	Easting	North	Depth	Azi	Dip	Tenement	Pegmatite intercept
MAD211	240841	6796025	284.9	170	-60	E29/962	17.2-18m, 27.6-29.11m, 140.8-143.2m, 230.68-232.4m, 247.75- 249.85m, 261.3-262.3m
MAD212	236181	6803188	405.6	220	-60	E29/638	EM Target
MAD213	236189	6804617	799.2	252	-68	E29/638	Seismic Target
MAD214	241060	6795470	63.9	190	-50	E29/962	49.5-54.1m

Cautionary statement:

While the Company is very encouraged by the geology identified in the completed drill holes, no qualitative or quantitative assessment of mineralisation within intersected pegmatites is possible at this stage. Geological logging is based on visual interpretations and should not be considered a substitute for laboratory analysis.

The visual observation of lithium-bearing minerals within pegmatites does not necessarily equate to lithium mineralisation, and laboratory assays are required to confirm the presence and grade of any contained lithium. Given the nature of lithium mineralisation, it is not possible to estimate by visual assessment the abundance of any lithium within the pegmatites intersected by the completed drilling. Laboratory assays are required to determine the concentration of lithium mineralisation within the reported pegmatite intersections.

Based on the intersection angle of the drilling with the modelled pegmatites, downhole widths noted above are interpreted to be close to true widths.

Rock-chip sampling continues to identify prospective pegmatites:

Laboratory assays for 79 rock chip samples from pegmatite outcrops at E29/638 (75% St George: 25% IGO) have returned assays indicating the presence of fractionated pegmatites that are prospective for lithium mineralisation. These assays are listed in Table 3.

The geochemistry of these pegmatites is indicative of pathfinder elements for lithium-bearing pegmatites. The identification of these pegmatites, located north of the drilling completed so far, provides strong encouragement for the overall prospectivity for lithium-bearing pegmatites occurring in the northern extent of the greenstone belt within the Project area.

The K:Rb ratio derived from recent assays highlight the prospectivity of the northern pegmatites. The ratio is an indicator of a fractionated pegmatite, where the pegmatite melt has evolved as it moves further form its source granite. The lower the K:RB ratio, the more fractionated and prospective the pegmatites.

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ASX / MEDIA RELEASE

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Figure 4 shows the location of the samples with favourable K:Rb ratios. The occurrence of these fractionated pegmatites in clusters is highly encouraging for the potential for high-grade lithium mineralisation to be associated with these pegmatites. Drilling in 2023 will be designed to test these areas below surface.

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Figure 4 – plan view map showing latest rock chip assays with K:Rb ratios highlighted. The yellow boxes show areas of high prospectivity that will be followed up with drilling in 2023.

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ASX / MEDIA RELEASE

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Nickel targets:

Three RC drill holes and two diamond drill holes were completed to test nickel targets. These drill holes intersected intervals of massive and semi-massive sulphides but no apparent nickel sulphide mineralisation.

The intervals from these holes with sulphides have been sampled and will be submitted for assaying to test for base metal mineralisation and/or pathfinder elements. These drill holes have also been cased with downhole electromagnetic surveys in progress to investigate for the potential of conductive bodies around the drill holes.

MAD212 was drilled to test EM plate P1 at the Manta Prospect and was completed to 405.6m downhole. The drill hole intersected intercalating sulphidic sediments and ultramafics from 260m to 338m downhole. Intensive alteration logged throughout this zone and in contact with intruding granites is indicative of a complex structural setting that still has the potential to host either nickel or base metal occurrences.

MAD213 was drilled to test a strong seismic reflector and was completed to 799m downhole. The drill hole intersected predominantly granite rocks. Preliminary logging indicates the hole does not contain a source for the reflector and there is no indication that the seismic target has been tested. Interpretations to resolve the source of the reflector are ongoing.

Ongoing work programmes:

With more than 13km of the pegmatite corridor and additional licences yet to be effectively explored, the Company will start the New Year with an aggressive work programme.

The following exploration activities are current and/or planned for 2023:

1. Assays for soil surveys at E29/962 are pending. These have potential to identify a lithium signature in an area where pegmatites are not exposed due to thin cover.

2. Assays for completed rock chip sampling of pegmatites in other parts of the pegmatite field are pending with more than 92 samples submitted for assay.

3. Assays are pending for all the recently completed RC and diamond drilling.

4. Field mapping and rock chip sampling will resume in January 2023 with more than 13km of the pegmatite corridor to explore. Lithium-bearing pegmatite outcrop has been visually identified in these areas and a systematic sampling programme is required to further assess prospectivity and potential drill targets. These areas include the recently acquired P29/2680 and E29/1143 (both 100% St George, see Figure 4).

5. Major lithium drill programme to commence in February 2023 with more than 20,000m of drilling scheduled for H1 2023 with potential to escalate.

Table 3 – Latest assay results for rock chip samples:

SampleID	Easting	Northing	Li2O ppm	Cs_ppm	Rb ppm	Ta2O5 **ppm **	K ppm	K/Rb ratio
MARK133	234340	6804054	9	16	1430	1.8	84000	59
MARK134	234369	6803923	9	5	516	10.4	33000	64
MARK135	234377	6803847	19	9	1530	4.3	75000	49
MARK136	234419	6803810	2	8	1250	1.8	82000	66
MARK137	234423	6803735	2	14	1940	1.2	111000	57
MARK138	234391	6803537	82	6	833	6.7	46000	55
MARK139	234438	6803456	56	8	1240	3.1	66000	53

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MARK140	234507	6803276	50	5	678	3.7	36000	53
MARK141	234660	6803872	13	4	599	7.3	37000	62
MARK142	234653	6803797	11	5	662	7.9	32000	48
MARK143	234548	6803591	26	6	433	6.7	26000	60
MARK144	234743	6804021	15	2	270	4.3	21000	78
MARK145	234769	6803816	6	3	382	12.8	23000	60
MARK146	234755	6803493	26	10	1340	4.9	73000	54
MARK147	234702	6803311	9	3	619	9.2	34000	55
MARK148	234722	6803128	9	-1	169	4.3	10000	59
MARK149	234950	6802945	13	7	942	4.3	43000	46
MARK149	234950	6802945	11	8	961	4.3	44000	46
MARK150	235437	6802831	13	-1	211	14.0	13000	62
MARK151	236311	6802548	95	12	951	28.1	47000	49
MARK151	236311	6802548	95	12	961	27.5	46000	48
MARK152	236216	6802493	17	4	451	12.2	22000	49
MARK153	236225	6802245	15	3	452	17.7	24000	53
MARK154	236590	6802526	4	3	710	5.5	35000	49
MARK155	236657	6802444	6	5	1050	10.4	55000	52
MARK156	236735	6802305	9	2	298	17.7	18000	60
MARK157	236882	6802065	17	4	767	6.7	32000	42
MARK158	236876	6802106	19	3	531	11.0	23000	43
MARK159	235884	6803216	17	4	437	9.2	33000	76
MARK160	235776	6803141	15	3	418	9.2	31000	74
MARK160	235776	6803141	19	3	413	9.8	31000	75
MARK161	235713	6803059	6	5	645	4.9	49000	76
MARK162	235573	6802980	9	8	1140	4.3	63000	55
MARK163	235445	6802652	9	11	1680	7.3	79000	47
MARK163	235445	6802652	13	11	1670	7.3	76000	46
MARK164	235434	6802528	37	13	2030	2.4	101000	50
MARK165	236654	6802320	13	-1	136	7.3	8000	59
MARK167	236349	6802027	314	9	1080	12.2	36000	33
MARK168	236006	6801901	13	9	940	15.3	47000	50
MARK169	235878	6801746	11	6	842	38.5	45000	53
MARK170	235753	6801642	52	2	142	8.5	6000	42
MARK171	235652	6801861	54	8	69	18.3	3000	43
MARK172	235600	6801968	1,096	31	1160	23.2	19000	16
MARK173	235644	6802115	131	3	256	6.1	7000	27
MARK174	235667	6802273	194	5	648	13.4	19000	29
MARK175	236703	6801893	34	11	1270	8.5	42000	33
MARK176	236825	6801297	15	2	627	7.9	21000	33
MARK177	236560	6801260	9	6	1500	9.8	61000	41
MARK178	236469	6801411	11	2	458	17.1	21000	46
MARK179	235863	6801207	11	3	357	19.5	20000	56
MARK180	236852	6800989	13	2	518	21.4	18000	35
MARK181	236884	6800820	4	4	832	20.1	28000	34
MARK182	236966	6800647	15	3	451	10.4	14000	31

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MARK183	238174	6800380	11	1	404	9.8	15000	37
MARK184	238336	6800456	15	2	510	14.7	19000	37
MARK185	238370	6800494	13	-1	113	29.3	4000	35
MARK186	238410	6800632	34	19	2070	67.2	29000	14
MARK187	238436	6800708	30	-1	467	22.6	15000	32
MARK188	239014	6800934	9	8	994	51.9	32000	32
MARK189	238838	6801085	19	4	564	17.1	24000	43
MARK190	238665	6801136	9	4	1460	4.9	56000	38
MARK191	238525	6801231	34	2	366	56.8	16000	44
MARK192	238361	6801376	13	3	659	11.6	30000	46
MARK193	238251	6801500	11	4	574	21.4	21000	37
MARK193	238251	6801500	9	4	575	22.0	20000	35
MARK194	238172	6801663	13	2	288	18.3	15000	52
MARK196	238069	6801167	9	3	590	8.5	28000	47
MARK197	238138	6801124	114	10	1030	25.6	33000	32
MARK222	237125	6799857	11	-1	15	23.2	2000	133
MARK223	237118	6799712	9	2	569	6.7	36000	63
MARK224	237122	6799525	19	12	1410	58.6	32000	23
MARK225	237288	6799337	13	2	182	37.9	7000	38
MARK226	237700	6799717	60	9	2280	25.0	51000	22
MARK236	240908	6796434	17	-1	16	5.5	3000	188
MARK282	241414	6794466	211	-1	36.5	58.6	2000	55
MARK301	239428	6801555	4	12	1180	1.2	82000	69
MARK302	239418	6801567	4	5	723	6.1	46000	64
MARK303	239388	6801533	6	-1	189	3.7	18000	95
MARK303	239388	6801533	4	-1	186	3.1	17000	91

About the Mt Alexander Project:

The Mt Alexander Project is located 120km south-west of the Agnew-Wiluna Belt, which hosts numerous world-class nickel deposits. The Project comprises six granted exploration licences – E29/638, E29/548, E29/962, E29/954, E29/972 and E29/1041 – which are a contiguous package. An additional two exploration licences – E29/1093 and E29/1126 – are located to the south-east of the core tenement package.

The Cathedrals, Stricklands, Investigators and Radar nickel-copper-cobalt-PGE discoveries are located on E29/638, which is held in joint venture by St George (75%) and IGO Limited (25%). St George is the Manager of the Project, with IGO retaining a 25% non-contributing interest (in E29/638 only) until there is a decision to mine. The Jailbreak Lithium Prospect is on E29/268 and E29/962. With the exception of E29/638, all Project tenements are owned 100% by St George.

Authorised for release by the Board of St George Mining Limited.

For further information, please contact:
John Prineas	Peter Klinger
Executive Chairman	Media and Investor Relations
St George Mining Limited	Cannings Purple
+61 411 421 253	+61 411 251 540
john.prineas@stgm.com.au	pklinger@canningspurple.com.au

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Competent Person Statement:

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves for the Mt Alexander Project is based on information compiled by Mr Dave Mahon, a Competent Person who is a Member of The Australasian Institute of Geoscientists. Mr Mahon is employed by St George Mining Limited to provide technical advice on mineral projects, and he holds performance rights issued by the Company.

Mr Mahon has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Mahon consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements:

This announcement includes forward-looking statements that are only predictions and are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of St George, the directors and the Company’s management. Such forward-looking statements are not guarantees of future performance.

Examples of forward-looking statements used in this announcement include use of the words ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of announcement, are expected to take place.

Actual values, results, interpretations or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements in the announcement as they speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, St George does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward-looking statement is based.

This announcement has been prepared by St George Mining Limited. The document contains background Information about St George Mining Limited current at the date of this announcement.

The announcement is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement.

The announcement is for information purposes only. Neither this announcement nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. The announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply to their own jurisdiction as a failure to do so may result in a violation of securities laws in such jurisdiction.

This announcement does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this announcement are not intended to represent recommendations of particular investments to particular persons.

Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent of the law, St George Mining Limited, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinion, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from the announcement arising out of negligence or otherwise is accepted.

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The following section is provided for compliance with requirements for the reporting of exploration results under the JORC Code, 2012 Edition.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria	JORC Code explanation	Commentary
Sampling	Nature and quality of sampling (eg cut channels,	Rock Chip: a sample is collected from in‐situ material at surface
techniques	random chips, or specific specialised industry	adjudged by the geologist on site. The sample between 0.5‐2kg is
	standard measurement tools appropriate to the	collected in a marked calico bag for submission for assay.
	minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as	RC Sampling: All samples from the RC drilling are taken as 1m samples split using a cone splitter and collected in a calico bag for laboratory
	limiting the broad meaning of sampling.	assay.
	Include reference to measures taken to ensure	Rock Chips: Samples are collected by hand or dislodged by geo pick of
	sample representivity and the appropriate	in‐situ material at surface.
	calibration of any measurement tools or systems used.	_RC Sampling:_Samples are taken on a one metre basis and collected using uniquely numbered calico bags. The remaining material for that
		metre is collected and stored in a green plastic bag marked with that
		specific metre interval. The cyclone is cleaned with compressed air
		after each plastic and calico sample bag is removed. If wet sample or
		clays are encountered then the cyclone is opened and cleaned
		manually and with the aid of a compressed air gun. A blank sample is
		inserted at the beginning of each hole, and a duplicate sample is
		taken every 50thsample. A certified sample standard is also added
		according to geology, but at no more than 1:50 samples.
		Geological logging of RC chips is completed at site with
		representative chips being stored in drill chip trays. Downhole
		surveys of dip and azimuth are conducted using a single shot camera
		every 30m, and using a downhole Gyro when required, to detect
		deviations of the hole from the planned dip and azimuth. The drill‐
		hole collar locations are recorded using a hand‐held GPS, which has
		an accuracy of +/‐ 5m. All drill‐hole collars will be surveyed to a
		greater degree of accuracy using a certified surveyor at a later date.
	Aspects of the determination of mineralisation	Rock Chips: samples are taken under the discretion of geologists with
	that are Material to the Public Report.	the intention of taking a representative rock chip sample for the
	In cases where ‘industry standard’ work has	parent rock sampled.
	been done this would be relatively simple (eg	_RC Sampling:_A 1m composite sample is taken from the bulk sample
	‘reverse circulation drilling was used to obtain 1	of RC chips that may weigh in excess of 40 kg. Each sample collected
	m samples from which 3 kg was pulverised to	for assay typically weighs 2‐3kg, and once dried, is prepared for the
	produce a 30 g charge for fire assay’). In other	laboratory as per the Diamond samples below.
	cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Elements for both sample mediums are analysed using a peroxide fusion digest and an ICP finish. These elements are: Al, As, B, Ba, Be, Ca, Cs, Fe, Hf, Ga, K, Mg, Mn, Nb, P, Rb, S, Si, Sn, Sr, Ta, W, and Zr. The sample is digested with, hydrochloric, acid to effect a total dissolution of the sample. The sample is then analysed using ICP‐AES or ICP‐MS.

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Criteria JORC Code explanation	Commentary
Drilling techniques Drill type (eg core, reverse circulation, open‐hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diametre, triple or standard tube, depth of diamond tails, face‐ sampling bit or other type, whether core is oriented and if so, by what method, etc).	_RC Sampling:_The RC drilling uses a 140 mm diameter face hammer tool. High capacity air compressors on the drill rig are used to ensure a continuously sealed and high‐pressure system during drilling to maximise the recovery of the drill cuttings, and to ensure chips remain dry to the maximum extent possible.
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	_RC Sampling:_RC samples are visually checked for recovery, moisture and contamination. Geological logging is completed at site with representative RC chips stored in chip trays.
	_RC Sampling:_Samples are collected using cone or riffle splitter. Geological logging of RC chips is completed at site with representative chips being stored in drill chip trays.
	To date, no sample recovery issues have yet been identified that would impact on potential sample bias in the soil profile or sampling methods.
Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Each sample is recorded for the lithology, type and nature of the soil. The surface topography and type is recorded at the sample location. Logging of RC samples records lithology, mineralogy, mineralisation, structures (core only), weathering, colour and other noticeable features. Chips and core was photographed in both dry and wet form
	The logging is both qualitive and quantitative in nature, with sample recovery and volume being recorded,
	All drill holes are geologically logged in full and detailed litho‐ geochemical information is collected by the field XRF unit. The data relating to the elements analysed is used to determine further information regarding the detailed rock composition.
Sub‐sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. If non‐core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique.	N/A
	RC samples are collected in dry form. Samples are collected using cone or riffle splitter when available. Geological logging of RC chips is completed at site with representative chips being stored in drill chip trays.
	RC Sampling: Sample preparation for RC chips follows a standard protocol. The entire sample is pulverised to 75µm using LM5 pulverising mills. Samples are dried, crushed and pulverized to produce a homogenous representative sub‐sample for analysis. A grind quality target of 90% passing 75µm is used.

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Criteria JORC Code explanation	Commentary
Quality control procedures adopted for all sub‐ sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second‐half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	Quality control procedures include submission of Certified Reference Materials (standards), duplicates and blanks with each sample batch. QAQC results are routinely reviewed to identify and resolve any issues_. _RC Sampling: Field QC procedures maximise representivity of RC samples and involve the use of certified reference material as assay standards, along with blanks, duplicates and barren washes.
	Duplicate samples are selected during sampling. Samples comprise two quarter core samples for Diamond Core. Duplicate RC samples are captured using two separate sampling apertures on the splitter.
	The sample sizes are considered to be appropriate to correctly represent base metal sulphide mineralisation and associated geology based on: the style of mineralisation (massive and disseminated sulphides), the thickness and consistency of the intersections and the sampling methodology.
Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometres, handheld XRF instruments, etc, the parametres used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	The assay method and detection limits are appropriate for analysis of the elements required.
	A handheld XRF instrument (Olympus Innov‐X Spectrum Analyser) is used to provide an initial assay of the geochemical sample onsite. One reading is taken per sample. The instruments are serviced and calibrated at least once a year. Field calibration of the XRF instrument using standards is periodically performed (usually daily). The handheld XRF results are only used for preliminary assessment and not for reporting of element compositions, prior to the receipt of assay results from the certified laboratory.
	Laboratory QAQC involves the use of internal lab standards using certified reference material (CRMs), blanks and pulp duplicates as part of in‐house procedures. The Company also submits a suite of CRMs, blanks and selects appropriate samples for duplicates. Sample preparation checks for fineness are performed by the laboratory to ensure the grind size of 90% passing 75µm is being attained.
Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Significant intersections and assays are verified by the Company’s Technical Director and Consulting Field Geologist.
	No twinned holes have been planned for the current drill programme.
	Primary data is captured onto a laptop using acQuire software and includes geological logging, sample data and QA/QC information. This data, together with the assay data, is entered into the St George Mining central SQL database which is managed by external consultants.
	No adjustments or calibrations will be made to any primary assay data collected for the purpose of reporting assay grades and mineralised intervals. For the geological analysis, standards and recognised factors may be used to calculate the oxide from assayed elements, or to calculate volatile free mineral levels in rocks.

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Criteria	JORC Code explanation Commentary
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down‐hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. The sample locations are determined by using a handheld GPS system with an expected accuracy of +/‐5m for easting, northing and elevation. This is considered adequate for the type and purpose of the surveys.
	Specification of the grid system used. The grid system used is GDA94, MGA Zone 51.
	Quality and adequacy of topographic control. Elevation data has been acquired using handheld GPS surveying at specific location across the project, including drill collars, and entered into the central database. A topographic surface has been created using this elevation data.
Data spacing and distribution	Data spacing for reporting of Exploration Results. The spacing and distribution of holes is not relevant to the drilling programs which are at the exploration stage rather than definition drilling.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. The completed drilling at the Project is not sufficient to establish the degree of geological and grade continuity to support the definition of Mineral Resource and Reserves and the classifications applied under the 2012 JORC code.
	Whether sample compositing has been applied. No compositing has been applied to the exploration results.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Rock Chips: The rock chip samples are taken at the discretion of the geologist on site. However, the orientation of key structures may be noted whilst mapping exercises are undertaken. The drill holes are drilled to intersect the modelled mineralised zones at a near perpendicular orientation (unless otherwise stated). However, the orientation of key structures may be locally variable and any relationship to mineralisation has yet to be identified.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No orientation based sampling bias has been identified in the data to date.
Sample security	The measures taken to ensure sample security. Chain of Custody is managed by the Company until samples pass to a duly certified assay laboratory for subsampling and assaying. The sample bags are stored on secure sites and delivered to the assay laboratory by the Company or a competent agent. When in transit, they are kept in locked premises. Transport logs have been set up to track the progress of samples. The chain of custody passes upon delivery of the samples to the assay laboratory.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. Sampling techniques and procedures are regularly reviewed internally, as is the data. The soils programme has been reviewed by third parties and consultant geologists.

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Section 2 Reporting of Exploration Results (Criteria listed in section 1 will also apply to this section where relevant)

Criteria	JORC Code explanation		Commentary
Mineral	Type, name/reference number, location and		The Mt Alexander Project is comprised of six granted Exploration
Tenement and	ownership including agreements or	material	Licences (E29/638, E29/548, E29/954, E29/962, E29/972 and
Land Status	issues with third parties including joint	ventures,	E29/1041). Tenement E29/638 is held in Joint Venture between St
	partnerships, overriding royalties, native title		George (75% interest) and Western Areas (25% interest). E29/638
	interests, historical sites, wilderness or national		and E29/548 are also subject to a royalty in favour of a third party
	park and environmental settings.		that is outlined in the ASX Release dated 17 December 2015 (as
			regards E29/638) and the ASX release dated 18 September 2015 (as
			regards E29/548).
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		No environmentally sensitive sites have been identified on the tenements. A registered Heritage site known as Willsmore 1 (DAA identification 3087) straddles tenements E29/548 and E29/638. All
			five tenements are in good standing with no known impediments.
Exploration	Acknowledgment and appraisal of exploration		Exploration on tenements E29/638 and E29/962 has been largely for
Done by Other	by other parties.		komatiite‐hosted nickel sulphides in the Mt Alexander Greenstone
Parties			Belt. Exploration in the northern section of E29/638 (Cathedrals Belt)
			and also limited exploration on E29/548 has been for komatiite‐
			hosted Ni‐Cu sulphides in granite terrane. No historic exploration has
			been identified on E29/954 or E29/972.
			Mafic‐Ultramafic intrusion related high grade nickel‐copper‐PGE
			sulphides were discovered at the Mt Alexander Project in 2008.
			Drilling was completed to test co‐incident electromagnetic (EM) and
			magnetic anomalies associated with nickel‐PGE enriched gossans in
			the northern section of current tenement E29/638. The drilling
			identified high grade nickel‐copper mineralisation in granite‐hosted
			and East‐West orientated ultramafic units and the discovery was
			named the Cathedrals Prospect.
Geology	Deposit type, geological setting and style of		The Mt Alexander Project is at the northern end of a western
	mineralisation		bifurcation of the Mt Ida Greenstones. The greenstones are bound to
			the west by the interpreted Ida Fault, a significant Craton‐scale
			structure that marks the boundary between the Kalgoorlie Terrane
			(and Eastern Goldfields Superterrane) to the east and the Youanmi
			Terrane to the west.
			The Mt Alexander Project is prospective for further high‐grade nickel‐
			mineralisation (both komatiite and mafic‐ultramafic intrusive hosted)
			and also precious metal mineralisation (i.e. orogenic gold) that is
			typified elsewhere in the Yilgarn Craton.
			MT Alexander is also prospective for pegmatite hosted Lithium
			mineralisation. The Mt Ida region is a growing Lithium district within
			the Northern Goldfields area.
Drill hole	A summary of all information material to the
information	understanding of the exploration results		Drill hole collar locations are shown in the maps and tables included
	including tabulation of the	following	in the body of the relevant ASX releases.
	information for all Material drill holes:
	• Easting and northing of the drill hole	collar
	•Elevation or RL (Reduced Level –	elevation
	above sea level in metres) of the drill hole collar
	• Dip and azimuth of the hole
	• Down hole length and interception depth
	• Hole length

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Criteria	JORC Code explanation	Commentary
Data	In reporting Exploration Results, weighting	Reported assay intersections are length and density weighted.
aggregation	averaging techniques, maximum and/or	Significant intersections are determined using both qualitative (i.e.
methods	minimum grade truncations (e.g. cutting of high	geological logging) and quantitative (i.e. lower cut‐off) methods.
	grades) and cut‐off grades are usually Material
	and should be stated.
	Where aggregated intercepts incorporate short	Any high‐grade sulphide intervals internal to broader zones of
	lengths of high grade results and longer lengths	mineralisation are reported as included intervals.
	of low grade results, the procedure used for such
	aggregation should be stated and some typical
	examples of such aggregations should be shown
	in detail.
	The assumptions used for any reporting of	No metal equivalent values are used for reporting exploration
	metal equivalent values should be clearly	results.
	stated.
Relationship	These relationships are particularly important in	Assay intersections are reported as down hole lengths. Drill holes are
between	the reporting of exploration results. If the	planned as perpendicular as possible to intersect the target EM plates
mineralisation	geometry of the mineralisation with respect to	and geological targets so downhole lengths are usually interpreted to
widths and	the drill hole angle is known, its nature should	be near true width.
intercept	be reported. If it is not known and only the down
lengths	hole lengths are reported, there should be a
	clear statement to this effect.
iagrams	Appropriate maps and sections (with scales) and	A prospect location map, cross section and long section are shown
	tabulations of intercepts should be included for	in the body of relevant ASX Releases.
	any significant discovery being reported. These
	should include, but not be limited to a plane
	view of drill hole collar locations and
	appropriate sectional views.
Balanced	Where comprehensive reporting of all	Reports on recent exploration can be found in ASX Releases that are
Reporting	Exploration Results is not practical,	available on our website atwww.stgm.com.au:
	representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	The exploration results reported are representative of the mineralisation style with grades and/or widths reported in a consistent manner.
Other	Other exploration data, if meaningful and	All material or meaningful data collected has been reported.
substantive	material, should be reported including (but not
exploration	limited to): geological observation; geophysical
data	survey results; geochemical survey results; bulk
	samples – size and method of treatment;
	metallurgical test results; bulk density,
	groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminating substances.
Further Work	The nature and scale of planned further work	A discussion of further exploration work underway is contained in the
	(e.g. tests for lateral extensions or depth	body of recent ASX Releases.
	extensions or large – scale step – out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main	Further exploration will be planned based on ongoing drill results, geophysical surveys and geological assessment of prospectivity.
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.

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