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ST GEORGE MINING LIMITED Capital/Financing Update 2011

Oct 30, 2011

65782_rns_2011-10-30_5ea78cb5-a4ca-459e-9f4a-06193d48c332.pdf

Capital/Financing Update

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ASX / MEDIA RELEASE

31 October 2011

REVISED NON-RENOUNCEABLE LOYALTY OPTION ISSUE TIMETABLE

On 19 October 2011, St George Mining Limited (“ Company ”) lodged a Prospectus for the pro rata nonrenounceable entitlement issue on the basis of one (1) new option (“ Loyalty Option ”) for every two (2) shares held by existing shareholders at the record date at an issue price of 1 cent per Loyalty Option (“ Loyalty Option Issue ”).

The Company wishes to update the Loyalty Option Issue timetable in respect of the Prospectus.

An updated timetable for the Loyalty Option Issue is set out below.

Lodgement of Prospectus with ASIC, announcement of Loyalty OptionIssue and dispatch of letters to Optionholders Lodgement of Prospectus with ASIC, announcement of Loyalty OptionIssue and dispatch of letters to Optionholders 19 October 2011 19 October 2011
Notice sent to Shareholders and lodgement of Appendix 3B with ASX 31 October 2011
otice sent to Shareholders and lodgement of Appendix 3B with ASX 31 Octob
E x Date for determining Entitlements 4 Novemb er 2011
R ecord Date for determining Entitlements 10 Novemb er 2011
Pd rospectus dispatched to Shareholders and announcement thatispatch has been completed 14 Novemb er 2011
C losing Date of Offer 5:00pm (30 Novemb WST) oner 2011
S ecurities quoted on a deferred settlement basis 1 Decemb er 2011
N otify ASX of under-subscriptions 5 Decemb er 2011
Dh ispatch date/Loyalty Options entered into Shareholders’ securityoldings 8 Decemb er 2011
Trading of Loyalty Options issued pursuant to the Offer expected tocommence on ASX di f Ll Oi id h Off d

EXISTING OPTIONHOLDERS

Existing optionholders have no entitlement to participate in the Loyalty Option Issue program unless they exercise their existing options on or before the Record Date under the Loyalty Option Issue, being 10 November 2011 .

For further information, please contact:

John Prineas

Executive Chairman St George Mining Limited (+61) 411 421 253 [email protected]

ST GEORGE MINING LIMITED ACN 139 308 973

Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 | www.stgeorgemining.com.au Phone +618 9322 6600 | Facsimile +618 9322 6610