IGO LIMITED — Capital/Financing Update 2023

May 28, 2023

ASX / MEDIA RELEASE

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29 May 2023

MT ALEXANDER LITHIUM PROJECT EXPLORATION UPDATE

HIGHLIGHTS

• Assay results to date from the 2023 RC drilling programme at the Jailbreak Lithium Prospect have returned further intersections of lithium with peak values of 1.77% Li2O and 1.49% Li2O

• Numerous drill holes have intersected anomalous lithium, caesium, tantalum and tin values up to 16m thick

• Assays are pending for an additional 851 samples from RC and diamond drill holes that intersected intervals of pegmatites at Jailbreak

• Jailbreak remains open at depth and along strike of current drilling, including to the south along the interpreted LCT corridor which extends towards the Mt Ida deposit of Delta Lithium (ASX: DLI)

St George Mining Limited (ASX: SGQ ) (“ St George ” or “ the Company ”) is pleased to update the market with further encouraging results from lithium exploration activities at its Mt Alexander Project in the Yilgarn Craton in Western Australia.

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

“Assay results received to date continue to demonstrate the presence of mineralised pegmatites that commence from or near surface and continue to depths of up to 300m below surface. High grades have been observed, highlighting the potential of the pegmatite system that remains open at depth and along strike of the prospective horizon.

“The recent drilling has significantly increased the understanding of the distribution of pegmatites and lithium mineralisation along the prospective LCT corridor that is situated within St George’s tenure. A follow-up drill programme will be planned once all drill results are received and interpreted with a focus likely to be the ultramafic sequence where the highest lithium values have been intersected so far.

“The Mt Ida province continues to evolve as a significant lithium region with Delta Lithium (ASX: DLI) progressing development activities for its lithium resource and the Mt Bevan Project immediately adjacent to Jailbreak being explored under joint venture by Hancock Prospecting Pty Ltd, Hawthorn Resources (ASX: HAW) and the Indian Government backed Legacy Iron Ore (ASX: LCY).

“We look forward to providing a further update once final assay results are received.”

Assay results indicate LCT fertility continues along the ultramafic host:

Since commencement of drilling on 21 February 2023, St George Mining has completed 84 ReverseCirculation (RC) drill holes for 10,020m and 4 diamond drill holes for 877.30m. In total, 74 drill holes were completed on exploration licence E29/962 (100% St George) and 14 drill holes on E29/638 (75% St George: 25% IGO).

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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Assay results have been received to date for 72 RC holes. No assay results have been received for the diamond drill holes completed so far in 2023. Assay results are pending for a total 851 samples from RC and diamond drill holes (refer to Table 1).

The majority of the recent drilling was designed to follow-up encouraging results from the initial 2022 drilling at Jailbreak as well as to test mineralised pegmatite outcrops identified from surface sampling.

Pending assay results include those for diamond core samples from the wide pegmatite intersections in drill hole MAD213 at the Manta Prospect, which were reported in our ASX Release dated 29 March 2023 121 Metre Pegmatite Intersection at Mt Alexander .

Table 1: Pending Assay Results

**Drill Type **	**Sample Type **	Total Samples	Samples Outstanding	% Outstanding
RC	1m	2817	414	15%
DD	>0.3m	437	437	100%

In total, 11 of the RC holes where assays have been received intersected highly anomalous Li2O results at Jailbreak – many coincident with anomalous caesium, rubidium and locally tantalum and tin results (refer to Table 2). These results indicate the host pegmatites appear to be part of a fractionated pegmatite system with potential for stronger mineralisation along strike and down dip from current drilling.

Drill results have also provided an increased understanding as to the controls on mineralisation and indicate that the priority target horizon is a north-south trending ultramafic sequence where the highest lithium values have been observed (see Figure 4). Focus of the follow-up activity will likely be toward the southern extension of this sequence which remains relatively underexplored including mapped pegmatites that have yet to be tested by drilling.

As part of the recent programme, the deepest diamond hole drilled to date at Jailbreak (MARD247) was drilled down dip from previous mineralised intersections at Jailbreak and intersected two pegmatites with downhole widths up to 7.1m. Photos of drill core from MARD247 included in this release show pegmatites from 271.25m downhole and from 398.8m downhole (refer Figures 1 and 2). Assay results and petrographic analyses are pending for samples from MARD247 to determine if these two pegmatites contain lithium. Assays are expected in approximately 4 weeks.

An interpreted section through MARD247 is shown in Figure 3. The recent assay results and geological data are being interpreted to develop a three-dimensional model of the known mineralisation to assist in follow-up drilling.

NOTE:

Visual estimates are based on geological logging and visual interpretations and should not be considered a substitute for laboratory analysis. Laboratory assays are required to determine the concentration of any elements that may be indicative of possible mineralisation associated with pegmatites intersected by drilling. Widths reported in this announcement are interpreted to be close to true widths with further drilling required to confirm the true width of the intersections reported.

Drilling at Mt Alexander has paused pending a review of assay results to evaluate follow-up drill targets. Future drilling will continue to test modelled pegmatites in order to develop a better understanding of sub-surface structures and associated mineralisation.

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Table 2: Anomalous Intercepts in assays results from RC drilling referred to in this release

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Figure 1 – MARD247 drill core showing pegmatite from 271.25m to 278.35m (awaiting assays).

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Figure 2 – MARD247 drill core showing pegmatite from 398.8m to 405.0m (awaiting assays).

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Figure 3 – cross section showing interpreted pegmatites at the Jailbreak Prospect.

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Figure 4 – map of the Jailbreak Prospect map showing the location of the 2023 drilling.

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.

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Figure 5 – regional map showing the location of Mt Alexander and other nearby lithium projects.

Update on developments at other St George Mining Projects:

• The maiden drilling programme at the Company’s 100% owned Ajana Project (Ni-Cu-PGEs) is due to commence before the end of Q2. An initial programme of up to 3,000m of RC is designed to test high priority geophysical targets within an interpreted layered mafic intrusion. Further details of the drilling targets will be provided in a separate release.

• Site evaluation has commenced at the Woolgangie Project . On ground exploration including soil sampling, ground EM surveys and a maiden aircore drill programme are planned for Q3 to test historical lithium, copper and REE anomalism respectively.

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Table 3: List of 2023 drillholes details pertaining to this report. All holes are in GDA94 -MGA Zone 51. (Assays are pending for highlighted drill holes).

Hole ID	Prospect	Tenement	East	North	RL	Depth	Azi	Dip	**Drilltype **
MARC177	Jailbreak	E29/962	243156	6795677	432	79	163	-60	RC
MARC178	Jailbreak	E29/962	243159	6795768	433	88	163	-60	RC
MARC179	Jailbreak	E29/962	243139	6795846	431	66	163	-60	RC
MARC180	Jailbreak	E29/962	243073	6796046	428	34	163	-60	RC
MARC181	Jailbreak	E29/962	243043	6796142	429	70	163	-60	RC
MARC182	Jailbreak	E29/962	243006	6796239	427	100	163	-60	RC
MARC183	Jailbreak	E29/962	242985	6796335	432	100	163	-60	RC
MARC184	Jailbreak	E29/962	242954	6796429	428	70	163	-60	RC
MARC185	Jailbreak	E29/962	242877	6796571	435	100	163	-60	RC
MARC186	Jailbreak	E29/962	241008	6795566	461	100	163	-60	RC
MARC187	Jailbreak	E29/962	240973	6795659	463	100	163	-60	RC
MARC188	Jailbreak	E29/962	240955	6795755	457	250	163	-60	RC
MARC189	Jailbreak	E29/962	240928	6795476	462	112	163	-60	RC
MARC190	Jailbreak	E29/962	240899	6795568	468	250	163	-60	RC
MARC191	Jailbreak	E29/962	240872	6795668	468	100	163	-60	RC
MARC192	Jailbreak	E29/962	240845	6795760	469	100	163	-60	RC
MARC193	Jailbreak	E29/962	240817	6795844	464	100	163	-60	RC
MARC194	Jailbreak	E29/962	240797	6795923	464	112	163	-60	RC
MARC195	Jailbreak	E29/962	240771	6795998	466	166	163	-60	RC
MARC196	Jailbreak	E29/962	240746	6796103	456	100	163	-60	RC
MARC197	Jailbreak	E29/962	240716	6796188	459	100	163	-60	RC
MARC198	Jailbreak	E29/962	240701	6795542	471	100	163	-60	RC
MARC199	Jailbreak	E29/962	240679	6795634	471	100	163	-60	RC
MARC200	Jailbreak	E29/962	240643	6795736	447	100	163	-60	RC
MARC201	Jailbreak	E29/962	240613	6795825	473	70	163	-60	RC
MARC202	Jailbreak	E29/962	240586	6795932	470	124	163	-60	RC
MARC203	Jailbreak	E29/962	240557	6796022	472	136	163	-60	RC
MARC204	Jailbreak	E29/962	240527	6796112	474	102	163	-60	RC
MARC205	Jailbreak	E29/962	240500	6796207	470	103	163	-60	RC
MARC206	Jailbreak	E29/962	240469	6796303	470	88	163	-60	RC
MARC207	Jailbreak	E29/962	240615	6795821	473	120	163	-60	RC
MARC208	Jailbreak	E29/962	241207	6795315	460	100	163	-60	RC
MARC209	Jailbreak	E29/962	241184	6795420	462	100	163	-60	RC
MARC210	Jailbreak	E29/962	241154	6795515	460	100	168	-60	RC
MARC211	Jailbreak	E29/962	241125	6795606	459	124	163	-60	RC
MARC212	Jailbreak	E29/962	241096	6795704	468	100	163	-60	RC
MARC213	Jailbreak	E29/962	241067	6795796	464	70	163	-60	RC
MARC214	Jailbreak	E29/962	241041	6795892	470	100	163	-60	RC
MARC215	Jailbreak	E29/962	241007	6795993	463	77	163	-60	RC
MARC216	Jailbreak	E29/962	240975	6796083	462	112	163	-60	RC
MARC217	Jailbreak	E29/962	240956	6796190	460	100	163	-60	RC
MARC218	Jailbreak	E29/962	240918	6796280	472	70	163	-60	RC
MARC219	Jailbreak	E29/962	241409	6796044	451	100	163	-60	RC

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MARC220	Jailbreak	E29/962	241384	6796133	455	100	163	-60	RC
MARC221	Jailbreak	E29/962	241353	6796228	460	100	163	-60	RC
MARC222	Jailbreak	E29/962	241323	6796329	463	100	163	-60	RC
MARC223	Jailbreak	E29/962	241291	6796420	468	60	163	-60	RC
MARC224	Jailbreak	E29/962	242225	6796027	430	100	163	-60	RC
MARC225	Jailbreak	E29/962	242193	6796108	435	91	163	-60	RC
MARC226	Jailbreak	E29/962	242167	6796198	446	100	163	-60	RC
MARC227	Jailbreak	E29/962	242138	6796299	450	100	163	-60	RC
MARC228	Jailbreak	E29/962	242104	6796390	457	100	163	-60	RC
MARC229	Jailbreak	E29/962	242080	6796487	460	45	163	-60	RC
MARC230	Jailbreak	E29/962	240785	6795953	467	202	170	-60	RC
MARC231	Jailbreak	E29/962	240944	6795529	466	202	186	-60	RC
MARC232	Radar	E29/638	234952	6807258	423	80	180	-60	RC
MARC233	Radar	E29/638	234952	6807258	418	57	180	-60	RC
MARC234	Manta	E29/638	236306	6802985	452	180	250	-60	RC
MARC235	Manta	E29/638	236493	6802756	450	70	273	-60	RC
MARC236	Manta	E29/638	236548	6803435	442	166	247	-60	RC
MARC237	Manta	E29/638	236328	6804083	435	250	250	-60	RC
MARC238	Jailbreak	E29/962	241105	6795484	463	160	163	-60	RC
MARC239	Jailbreak	E29/962	241073	6795585	462	170	163	-60	RC
MARC240	Jailbreak	E29/962	240879	6795465	468	82	163	-60	RC
MARC241	Jailbreak	E29/962	240862	6795517	471	160	163	-60	RC
MARC242	Jailbreak	E29/962	240834	6795609	473	250	163	-60	RC
MARC243	Jailbreak	E29/962	240986	6795482	461	140	163	-60	RC
MARC244	Jailbreak	E29/962	240962	6795555	463	250	163	-60	RC
MARC245	Jailbreak	E29/962	240941	6795609	467	250	163	-60	RC
MARC246	Jailbreak	E29/962	240839	6796130	460	250	163	-60	RC
MARC247	Jailbreak	E29/962	240747	6796150	462	250	163	-60	RC
MARC248	Jailbreak	E29/962	240616	6796176	467	250	163	-60	RC
MARC249	Jailbreak	E29/962	240674	6795985	465	160	163	-60	RC
MARC250	Jailbreak	E29/638	241454	6784240	461	100	163	-60	RC
MARC251	Jailbreak	E29/638	241348	6794288	455	100	163	-60	RC
MARC252	Jailbreak	E29/638	241425	6794331	460	100	163	-60	RC
MARC253	Jailbreak	E29/638	241408	6794385	454	106	163	-60	RC
MARC254	Jailbreak	E29/638	241394	6794432	459	100	163	-60	RC
MARC255	Jailbreak	E29/638	241381	6794479	459	100	163	-60	RC
MARC256	Jailbreak	E29/638	241362	6794548	459	100	163	-60	RC
MARC257	Jailbreak	E29/638	241229	6794457	459	46	172	-60	RC
MARC258	Jailbreak	E29/638	241225	6794506	462	100	172	-60	RC
MARC259	Jailbreak	E29/638	241271	6794538	461	142	163	-60	RC
MARC260	Jailbreak	E29/638	239516	6793609	490	58	163	-60	RC
MARD236	Manta	E29/638	236548	6803435	442	472.2	247	-60	DD
MARD242	Jailbreak	E29/962	240834	6795609	473	395.9	163	-60	DD
MARD245	Jailbreak	E29/962	240941	6795609	467	400	163	-60	DD
MARD247	Jailbreak	E29/962	240747	6796150	462	525.2	163	-60	DD

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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

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 not rely upon it as advice for investment purposes, as it does not take into account your investment objectives, financial position or needs. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate.

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.

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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 extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of this material is accepted by St George Mining Limited (including any of its related bodies corporate), its officers, employees, agents and advisers .

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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,	RC Sampling: All samples from the RC drilling are taken as 1m samples
techniques	random chips, or specific specialised industry	split using a cone splitter and collected in a calico bag for laboratory
	standard measurement tools appropriate to the	assay.
	minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	_Diamond Core Sampling:_The sections of the core that are selected for assaying are marked up and then recorded on a sample sheet for cutting and sampling at the certified assay laboratory. Samples of HQ or NQ2 core are cut just to the right of the orientation line where
		available using a diamond core saw, with half core sampled
		lengthways for assay.
	Include reference to measures taken to ensure	_RC Sampling:_Samples are taken on a one metre basis and collected
	sample representivity and the appropriate	using uniquely numbered calico bags. The remaining material for that
	calibration of any measurement tools or	metre is collected and stored in a green plastic bag marked with that
	systems used.	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.
		_Diamond Core Sampling:_For diamond core samples, certified sample
		standards were added as every 50thsample. Core recovery
		calculations are made through a reconciliation of the actual core and
		the driller’s records. Downhole surveys of dip and azimuth were
		conducted using a single shot camera every 30m 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.

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Criteria	JORC Code explanation Commentary
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other 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. _RC Sampling:_A 1m composite sample is taken from the bulk sample of RC chips that may weigh in excess of 40 kg. Each sample collected for assay typically weighs 2-3kg, and once dried, is prepared for the laboratory as per the Diamond samples below. _Diamond Core Sampling:_Diamond core (both HQ and NQ2) is half- core sampled to geological boundaries no more than 1.5m and no less than 10cm. Samples less than 3kg are crushed to 10mm, dried and then pulverised to 75µm. Samples greater than 3kg are first crushed to 10mm then finely crushed to 3mm and input into the rotary splitters to produce a consistent output weight for pulverisation. Elements for all sample mediums are analysed using a peroxide fusion digest and an ICP finish. These elements are: Li, 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.
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). _Diamond Core Sampling:_The collars of the diamond holes were drilled using RC drilling down through the regolith to the point of refusal or to a level considered geologically significant to change to core. The hole was then continued using HQ diamond core until the drillers determined that a change to NQ2 coring was required. The core is oriented and marked by the drillers. The core is oriented using ACT Mk II electric core orientation. _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. _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. _Diamond Core Sampling:_Diamond core recoveries are recorded during drilling and reconciled during the core processing and geological logging. The core length recovered is measured for each run and recorded which is used to calculate core recovery as a percentage.
	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. _Diamond Core Sampling:_Measures taken to maximise core recovery include using appropriate core diameter and shorter barrel length through the weathered zone, Primary locations for core loss in fresh rock are on geological contacts and structural zones, and drill techniques are adjusted accordingly, and if possible, these zones are predicted from the geological modelling. _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. To date, no sample recovery issues have yet been identified that would impact on potential sample bias in the soil profile or sampling methods.

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Criteria	JORC Code explanation Commentary
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. 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 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.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The logging is both qualitive and quantitative in nature, with sample recovery and volume being recorded,
	The total length and percentage of the relevant intersections logged. 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. _Diamond Core Sampling:_Diamond core was drilled with HQ and NQ2 size and sampled as complete half core to produce a bulk sample for analysis. Intervals selected varied from 0.3 – 1m (maximum) The HQ and NQ2 core is cut in half length ways just to the right of the orientation line where available using a diamond core saw. All samples are collected from the same side of the core where practicable. Assay preparation procedures ensure the entire sample is pulverised to 75 microns before the sub-sample is taken. This removes the potential for the significant sub-sampling bias that can be introduced at this stage.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. 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.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. 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.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. 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. _Diamond Core Sampling:_Drill core is cut in half lengthways and the total half-core submitted as the sample. This meets industry standards where 50% of the total sample taken from the diamond core is submitted.
	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. 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.

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Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled. 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. The assay method and detection limits are appropriate for analysis of the elements required.
	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. 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.
	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. 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. Significant intersections and assays are verified by the Company’s Technical Director and Consulting Field Geologist.
	The use of twinned holes. No twinned holes have been planned for the current drill programme.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. 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.
	Discuss any adjustment to assay data. 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.
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.

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Criteria	JORC Code explanation Commentary
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. 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.

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 IGO (25% interest). E29/638 and E29/548
	interests, historical sites, wilderness or national	are also subject to a royalty in favour of a third party that is outlined
	park and environmental settings.	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 and pegmatite hosted Lithium in
Parties		the Mt Alexander Greenstone 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.

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Criteria	JORC Code explanation Commentary
	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 mineralisation The Mt Alexander Project is at the northern end of a western 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 mineralisaion. The Mt Ida region is a growing Lithium district within the Northern Goldfields area.
Drill hole information	A summary of all information material to the understanding of the exploration results including tabulation of the following 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 Drill hole collar locations are shown in the maps and tables included in the body of the relevant ASX releases.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Reported assay intersections are length and density weighted. Significant intersections are determined using both qualitative (i.e. geological logging) and quantitative (i.e. lower cut-off) methods.
	Where aggregated intercepts incorporate short lengths of high grade results and longer lengths 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. Any high-grade sulphide intervals internal to broader zones of mineralisation are reported as included intervals.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. No metal equivalent values are used for reporting exploration results.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of exploration results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect. Assay intersections are reported as down hole lengths. Drill holes are planned as perpendicular as possible to intersect the target EM plates and geological targets so downhole lengths are usually interpreted to be near true width.
iagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plane view of drill hole collar locations and A prospect location map, cross section and long section are shown in the body of relevant ASX Releases.

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Criteria	JORC Code explanation	Commentary
	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 at www.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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