ST GEORGE MINING LIMITED — Capital/Financing Update 2011

Feb 7, 2011

ASX / MEDIA RELEASE

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ST GEORGE MINING LIMITED 8 February 2011

ASX: SGQ
ACN 139 3089 73		MAJOR N EW GOL D TARGET S CONFIR MED BY	INFILL
		SAMPLI NG AT EA ST LAVER TON
Level 1, 115 Ca mbridge Stree t
PO Box 1305, West Leedervil le
WA 6007
		HIG HLIGHTS
www.stgeorge mining.com.au
Phone+618 9 322 6600		Rec ent region al geochem ical survey outlined a large gold system (3
Facsimile+618 9322 6610		km x 2 km) at the new Ba lmoral Pro spect.
Emailinfo@st gm.com.au
John Prineas		Clo sed spaced sampling ( 50 m spaci ng) confirm s three pro minent
Executive Cha irman		new gold zone s, within t he larger an omalous s ystem.
Tim Hronsky Technical Dire ctor		Inte ide rpretation ntified dist of the fine inct sites fo r resolutio r drill testi n multi‐ele ng. ment respo nses has
Marcus Micha el
Non‐Executive Director		The se gold zon es are prio rity target s for the on going drill ing
and Company Secretary		pro gramme at East Laver ton.
East Laverton Property:
Crusader Gold Project
Zeus Nickel Pr oject
Empire Coppe r Project		TH E BALMORA L PROSPE CT
Pine Creek Pro perty:
Blue Thunder Gold Project		Aus tralian go ld and nic kel focuse d company , St Geor ge Mining
White StrikeU ranium Project		Lim ited (ASX:S GQ) (‘St G eorge Mini ng’or‘the Company’ ) is pleased
		toa nnouncet hat results from infills ampling of the newly discovered
BalmoralP rospect	at its 100% owned Eas t Laverton Property in the Nor th‐Eastern Goldfields
region ofW estern Au stralia		have confirmed three pro minent gold targetsw ithin the br oader gold
system.

The Balm o ral Prospe c t is a newl y discovere d gold syst e m that wa s identified as part of the regiona l multi‐ele m ent (MMI “mobile m e tal ion”) s o il samplin g survey undertaken b y the Com p any at th e East Laver t on Proper t y in 2010.

The initial survey in v olved the collection o f sample s on a 500 m stagger e d grid. A large an d completel y new gold system wi t h a surfac e geochem i cal expres s ion of 3k m x 2km was identifie d and named the Bal m oral Pros p ect. The g old syste m is situat e d within a significan t structura l flexure of t he major M inigwal Shear.

Close spa c ed infill sampling (50 m spacing ) , to help i d entify drill sites, has now been complete d within the broader B a lmoral Pro s pect. A to t al 2,101 s o il samples w ere colle c ted.

The impr o ved resol u tion of th e gold an d other m e tal trends provided b y this ne w phase o f sampling h as defined three pro m inent gold targets wi t hin the br o ader ano m alous syst e m. Testin g of these e x citing ne w targets will be part o f the ongoing drilling programm e at the East Laverto n Property.

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The attac h ed maps s h ow the in f ill samplin g results for Au, Ag and Cu respe c tively. T h e Balmora l Prospect i s highlight e d by the diamond sh a ped area.

Figure 1 s h ows the G old result s and indic a tes that t h ere are three signifi c ant gold z o nes in th e Balmoral P rospect.

Figures 2 a nd 3 sho w a large enigmatic G o ld + Silve r + Copper + Nickel a n omaly in t he centra l area of th e Balmoral Prospect.

Tim Hronsky, Technical Director of St George Mining said that t he infill s a mpling ha s confirme d the highly prospectiv e nature of the newly d iscovered Balmoral P r ospect:

“Generati n g new tar g ets is an i m portant p a rt of our exploration strategy at East Laver t on and w e have been well rewa r ded by ide n tifying wh a t is a major new pros p ect. The i n tensity an d continuit y of these g o ld and pol y metallic t r ends is exc e llent, and Balmoral has become a priority d rill target, ” Mr Hrons k y said.

“These re s ults further strength e n our con f idence tha t the East L averton P r operty rep r esents th e early stag e of a large a nd highly p rospectiv e mineral fi e ld,” he ad d ed.

The surve y results h a ve demon s trated the effectiven e ss of the C ompany’s Predictive Exploratio n Model an d have sho w n that the multi‐ele m ent partial ‐ leach MMI (mobile m e tal ion) geochemistr y provides a n expedient and co s t‐effective means to assess th e tenemen t holding a t the Eas t Laverton P roperty.

For further information, please contact:

John Prineas David Brook Executive C hairman Professional Public Relations St George Mining Li m ited (+61 ) 08 9388 0 9 44 mob 0 415 096 8 0 4 (+61) 411 4 21 253 Davi d .Brook@ppr.com.au John.prin e as@stgm. c om.au www.stge o rgeminin g .com.au

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Figure 1 – G old Infill Sa m pling Results at Balmoral Prospect

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Figure 2 – S ilver Infill S a mpling Res u lts at Balm o ral Prospec t

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F igure 3 – C o pper Infill S a mpling Results at Balmoral Prospe c t

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COMPETENT PERSON STATEMENT:

The inform a tion in this announcem e nt that rela t es to Explo r ation Result s and Miner a l Resources is based o n information compiled by Andrew Ha w ker of Haw k er Geological Services Pt y Ltd. Mr H a wker is a m e mber of th e Australasian Institute o f Mining an d Metallurgy has sufficient experience, which is relevant to the style o f mineralisati o n and type o f deposit un d er considera t ion and to t h e activity, w h ich he is un d ertaking. Thi s qualifies M r Hawker as a “Competent Person” as d e fined in the 2 004 edition o f the ‘Australasian Code f o r Reporting o f Exploratio n Results, Mi n eral Resour c es and Ore Reserves’. Mr Hawker consents to the inclusi o n of information in thi s announcem e nt in the for m and contex t in which it a p pears.

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