ST GEORGE MINING LIMITED — Capital/Financing Update 2015

May 31, 2015

ASX / MEDIA RELEASE

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1 June 2015

ST GEORGE COMPLETES OVERSUBSCRIBED CAPITAL RAISING

HIGHLIGHTS:

• Successful private placement to underwrite ongoing, high impact exploration

• Drilling of high quality massive nickel sulphide targets to commence on 3 June 2015

 Strong support from strategic investors

St George Mining Limited (ASX: SGQ ) (‘St George Mining’ or ‘the Company’) is pleased to confirm that it has successfully arranged a share placement to raise $1,050,000 in capital through the issue of 15,000,000 shares at $0.07 per share. Alto Capital acted as lead manager to the placement.

The funds raised will be applied towards continued exploration at the Company’s high priority nickel sulphide prospects at its 100% owned East Laverton Property in Western Australia where a major drilling program is about to commence.

Shares issued in the placement will receive one free option for every three new shares acquired. These options are on the same terms as the options trading under ASX code SGQOA.

The new shares were predominantly placed with strategic investors and in accordance with Section 708 of the Corporations Act 2001 (“the Act”).

All of the shares issued under the placement will rank pari passu with existing ordinary shares. Shareholder approval is not required for the placement as the number of shares issued does not exceed the threshold provided in ASX Listing Rule 7.1 and ASX Listing Rule 7.1A.

John Prineas, Executive Chairman of St George Mining , said:

“We are very pleased with the support from investors who recognise the significant potential of our Project and the deep value created by our systematic exploration to date.

“The funding we have secured will ensure we can maintain the momentum of our exploration throughout the upcoming drilling program which is testing several outstanding targets for massive nickel sulphides.”

Following allotment of 15,000,000 shares under the placement, St George Mining will have 126,831,806 ordinary shares on issue and 16,183,181 listed options trading under ASX code SGQOA. The Company is reviewing the oversubscriptions received and may place an additional 5,405,962 ordinary shares on the same terms.

For further information, please contact:

John PrineasExecutive ChairmanSt George Mining Limited(+61) 411 421 253John.prineas@stgm.com.au	Colin HayProfessional Public Relations(+61) 08 9388 0944 mob 0404 683355colin.hay@ppr.com.au	Adam BeltonAlto Capital(+61) 08 9223 9818adam@altocapital.com.au

St George Mining Limited ACN 139 308 973

Level 1, 115 Cambridge Street, PO Box 1305, West Leederville WA 6007 Phone + 61 8 9322 6600 Facsimile + 61 8 9322 6610