ST GEORGE MINING LIMITED — Capital/Financing Update 2018

Nov 29, 2018

ASX / MEDIA RELEASE

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30 November 2018

ASSAYS CONFIRM BEST EVER INTERCEPTS OF THICK HIGH-GRADE NICKEL-COPPER SULPHIDES AT MT ALEXANDER

HIGHLIGHTS:

Laboratory assays confirm outstanding intersections of thick high-grade nickel-copper sulphides at the Investigators Prospect while drilling continues to intersect extensions to nickel-copper sulphide mineralisation:

• Assays for MAD126:

• 7.86m @ 5.70%Ni, 2.11%Cu and 0.18%Co from 184m including the massive sulphide interval of 5.25m @ 6.95%Ni, 2.67%Cu and 0.23%Co from 185m

• Assays for MAD127:

• 8.49m @ 5.78%Ni, 2.64%Cu and 0.18%Co from 183.9m including the massive sulphide interval of 6.39m @ 6.48%Ni, 2.77%Cu and 0.21%Co from 184.42m

• Values for PGEs in MAD126 and MAD127 are pending completion of fire assays

On right: drill core from MAD127 with massive nickel-copper sulphides that returned assays of 6.39m @ 6.48%Ni, 2.77%Cu and 0.21%Co

• Extensional Drilling at Investigators:

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• All four drill holes completed since our last exploration update have intersected nickelcopper sulphides and confirm extensions to the footprint of high-grade mineralisation at Investigators

• Plunge of mineralisation on the MAD60 Line is extended to 380m with MAD135 testing the MAD119:X1 conductor and confirming the continuation of nickel-copper sulphides at depth

Emerging Western Australian nickel company St George Mining Limited (ASX: SGQ ) (“ St George ” or “ the Company ”) is pleased to announce laboratory assays for the best intercepts to date of nickel-copper sulphides at the Investigators Prospect – the largest of the three nickel-copper sulphide discoveries along the 4.5km strike of the Cathedrals Belt at the Mt Alexander Project.

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ASX / MEDIA RELEASE

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St George Mining Executive Chairman, John Prineas said:

“Grade is king in assessing the economic potential of any mining operation, and we are delighted to receive assays for MAD126 and MAD127 which confirm thick intersections of high-grade nickel-copper sulphides.

“The grades for nickel, copper and cobalt are terrific and re-affirm the high-value mineralisation that we have in the Cathedrals Belt.

“Additionally, it is very satisfying to have these thick high-grade intersections confirm the down plunge component of the mineralisation and further support the increasing potential scale of mineralisation at Investigators.

“Interim results from the four drill holes completed in the past week are also very reassuring as to the continuity of mineralisation at Investigators, with all four holes intersecting nickel-copper sulphides.

“Drill hole MAD135 was particularly pleasing with the plunge of mineralisation on the MAD60 Line extended to a very impressive 380m with mineralisation open at depth.

“With more strong EM conductors ready to drill, we are confident of intersecting further high-grade mineralisation at Investigators where drilling is continuing 24/7.”

MAD60 LINE – SIGNIFICANT DOWN PLUNGE EXTENSION

The MAD60 Line is a north-south oriented section that is situated at approximately 231225E within the Investigators Prospect.

Mineralisation on the MAD60 Line was first identified by MAD38 which intersected 2.74m @ 3.77%Ni, 1.48%Cu, 0.10%Co and 3.85g/t total PGEs from 25.4m downhole. MAD60 subsequently intersected mineralisation down dip from MAD38 with assays of 5.3m @ 4.95%Ni, 2.75%Cu, 0.16%Co, and 4.55g/t total PGEs from 157.9m.

Three drill holes were completed on the MAD60 Line in the past week with all intersecting nickel-copper sulphide mineralisation.

MAD135:

MAD135 was completed to a downhole depth of 270m to test conductor MAD119:X1.

The drill hole intersected a thick interval of mafic rocks and mineralised ultramafic as follows:

Interval		Geological Logging
214.44m 232.25m	to	Mafic, no sulphides observed
232.25m 240m	to	Ultramafic with sulphides increasing with depth; disseminated / blebby sulphides ~1-2% from 235.34m onwards, including ~5% blebby/veinlet sulphidesfrom 236.85 – 237.3m.

The intersection of nickel-copper sulphides at this target has confirmed an extension to the plunge of mineralisation on the MAD60 Line to a very significant 380m.

The style of mineralisation intersected by MAD135 does not fully explain the strong EM conductor (30,000 Siemens) modelled for this target, suggesting potential for further sulphide mineralisation proximal to this hole. A DHEM survey will be carried out in MAD135 to assist in determining the extent of the sulphide mineralisation around this hole.

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MAD136 and MAD137:

These drill holes were completed to test for proximal extensions of the massive nickel-copper sulphides intersected in MAD60. Both MAD136 and MAD137 intersected thick ultramafic units with abundant nickel-copper sulphides.

MAD136 was drilled to a downhole depth of 160m and intersected approximately 20m of mineralised ultramafic that included massive sulphides, as follows:

Interval Geological Logging 132.48m Ultramafic with disseminated sulphides approx. to 5% sulphides (<1%Ni) increasing to >10% sulphides 149.55m (1-2%Ni) for 0.45m at end of interval 149.55m Massive nickel-copper sulphides; average XRF to readings 8.1%Ni and 3.21%Cu_ 151.93m 151.93m _Ultramafic with disseminated sulphides approx._ to _10% sulphides (1%Ni)_ 152.45m _ Laboratory assays are pending and are required to confirm the nickel and copper grades which have been estimated using portable XRF analysis

MAD137 was drilled to a downhole depth of 164m and intersected approximately 18m of mineralised ultramafic comprising:

	Interval	Geological Logging
	135.3m to 141.1m	Ultramafic with disseminated sulphides increasing with depth, up to 5% sulphides (<1%Ni)
	141.1m to 145.2m	Disseminated and blebby nickel-copper sulphides; 5-10% sulphides (1-2%Ni)
	145.2m to 149.49m	Strong disseminated, blebby and veinlet nickel- copper sulphides; >15% sulphides (1-2+%Ni)

MAD136 was drilled to the north-east and MAD137 to the south-west of the MAD60 significant intersection. Each drill hole intersected a similar thick ultramafic, confirming the consistency of the mineralisation and the ultramafic package in this area.

The consistent intervals of high-grade massive sulphide plus halos of blebby and disseminated sulphides support the potential for significant metal per vertical metre, which will be confirmed by resource definition drilling.

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Above: photo of drill core from the massive sulphide interval of MAD136 between 149.55m to 151.93m with average XRF readings of 8.1%Ni and 3.21%Cu*

Figure 1 is a cross-section of the MAD60 Line and highlights the significant thickness of the mineralised ultramafic, its strong continuity and the substantial extension down plunge where mineralisation remains open at depth.

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Figure 1 – schematic cross section of the MAD60 section (facing west) based on interpretation of drill hole data. The N-W plunge of mineralisation extends to 380m and remains open in the down plunge direction.

Figure 2 is a long section of Investigators and illustrates the extensive mineralisation intersected as well as the large areas yet to be drilled and which offer exploration upside. The mineralised ultramafic dips to the north at an angle of about 30 degrees with mineralisation open in the down dip direction.

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Figure 2 – schematic long section of the Investigators Prospect (facing north) as interpreted from drill hole data. The MAD60 Line and MAD111 Line are shown, with the MAD112 Line (not shown) a further 530m to the east of the MAD111 Line. Mineralisation remains open to the north and at depth.

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Figure 3 is a plan view map of Investigators set against SAMSON EM (electromagnetic) data. The map highlights the successful drilling completed at Investigators across the very large conductive signature that spans the 1.5km east-west strike of the prospect area.

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Figure 3 - plan view of Investigators Prospect with drill hole collar locations over the large SAMSON total field EM anomalies (red/pink colours). SAMSON EM image is shown in Channel 18 (44ms). The three north-west lines being drilled in the current programme are highlighted. Step-out drilling along these lines is continuing to extend mineralisation to the north.

MAD111 LINE

The outstanding intersections of MAD126 and MAD127 are located on the MAD111 Line, located at 231475E and approximately 250m east of the MAD60 Line. One further drill hole was completed on this section in the past week to test the north-west extension of the massive sulphides in MAD127.

MAD134 was completed to a downhole depth of 213m and intersected a mineralised ultramafic between 182.40m to 186.45m. The ultramafic package contained disseminated sulphides (approximately 1-2% sulphides) throughout. The remainder of the drill hole intersected mainly granite.

MAD134 has successfully confirmed an extension of the mineralised ultramafic to the north-west with mineralisation open in that direction.

The results from MAD134 will be reviewed together with results from other drill holes recently completed on the MAD111 Line, and in conjunction with downhole EM surveys being carried out in those holes, to better understand the geometry of the massive sulphides in this area and to plan follow-up drilling.

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ASX / MEDIA RELEASE

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DRILL PROGRAMME

Table 1 contains laboratory assay results for MAD126 and MAD127. Assays for PGEs and Au are pending.

Hole ID	GDA94 East	GDA94 North	Dip	Azi	Hole Depth (m)	From (m)	To (m)	Width (m)	Ni%	Cu%	Co%
MAD126	231445	6806517	-90	0	210	184	201.86	7.86	5.70	2.11	0.18
including						185	190.25	5.25	6.95	2.67	0.23
MAD127	231440	6806515	-90	0	205	183.9	192.39	8.49	5.78	2.64	0.18
including						184.42	200.81	6.39	6.48	2.77	0.21

Table 1 – assays received for MAD126 and MAD127 at the Investigators Prospect.

Table 2 contains details of the initial drill holes for the current programme at Mt Alexander. MAD138 is currently being drilled.

Based on the intersection angle of the drilling with the modelled ultramafic unit, downhole widths are interpreted to be close to true widths.

Nickel and copper values expressed as XRF readings are based on portable XRF analysis. They are preliminary in nature and a conclusive determination of the nickel, copper, cobalt and PGE values of the sulphide mineralisation will be confirmed when laboratory assays are available.

Average XRF readings in massive sulphide intervals are based on at least four readings per metre and are not length and density weighted. Metal content for intervals of disseminated sulphides are not accurately determined by portable XRF analysis and estimates for this style of mineralisation are based on geological logging.

Hole ID	GDA94_51 East	GDA94_51 North	Hole Depth (m)	Dip	Azi	Target Depth (m)	Target
MAD108	231218	6806453	250	-76	33	205	Test MAD98: X1 plate
MAD109	231422	6806421	160	-80	73	135	Test MAD100:X3 plate
MAD110	231422	6806421	170	-77	338	155	Test MAD100:X2 plate
MAD111	231482	6806487	210	-81	210	185	Test MAD100: X1 plate
MAD112	232000	6806555	140	-58	174	110	Test MAD101: X1 plate
MAD113	233696	6807050	200	-70	185	180	Test MAD102: X1 plate
MAD114	231218	6806453	250	-78	30	205	Test MAD108 plate
MAD115	230784	6806322	150	-68	290	110	Test west of $M in MAD37/34
MAD116	231482	6806487	240	-76	315	190	Test MAD111:X1 plate
MAD117	232000	6806555	140	-60	180	110	Test MAD112 Plate

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MAD118	231482	6806487	220	-78	301	190	Test MAD111:X1 plate
MAD119	231200	6806700	350	-75	180	280	Deep step-out MAD60 Section
MAD120b	231450	6806570	240	-80	185	190	MAD111:X1 plate - north dip extent
MAD121	231400	6806700	320	-75	180	260	Deep step-out MAD111 Section
MAD122	231175	6806450	200	-75	180	160	Test 50 west of MAD60 $M
MAD123	231482	6806488	220	-75	311	180	Test MAD116:X1 plate
MAD124	231483	6806486	220	-79	290	190	Test MAD116:X2 plate
MAD125	231447	6806570	210	-73	186	180	Test MAD120b:X1 plate
MAD126		6806517	210	-90	0	185	Test MAD120b:X1 plate
	231445
MAD127	231440	6806515	210	-90	0	185	S-SW extension of $M in MAD126
MAD128		6806505	200	-90	0	187	Up dip continuity of $M in MAD126
	231452
MAD129	231220	6806350	130	-75	180	90	Infill MAD38 to MAD60 $M
MAD130		6806400	150	-75	180	90	West of MAD60 Line
	231100
MAD131	231625	6806400	130	-75	180	120	Infill MAD31 and MAD47 $M
MAD132		6806509	210	-90	0	190	10m SW extension of $M in MAD127
	231432
MAD133	231450	6806519	205	-90	0	185	20m SW extension of $M in MAD127
MAD134		6806523	215	-90	0	190	NW extension of $M in MAD127
	231440
MAD135	231232	6806581	270	-85	180	240	MAD119:X1 conductor
MAD136		6806400	160	-90	0	145	NE extension of MAD60 $M
	231234
MAD137	231220	6806395	160	-90	0	145	SW extension of MAD60 $M
MAD138		6806520	230	-75	180	160	60m east of MAD62
	231650

Table 2 – drill holes for the current drill programme at Mt Alexander, completed and in progress. Additional drill holes will be added to this programme as results are reviewed.

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ASX / MEDIA RELEASE

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About the Mt Alexander Project:

The Mt Alexander Project is located 120km south-southwest of the Agnew-Wiluna Belt, which hosts numerous world-class nickel deposits. The Project comprises five granted exploration licences – E29/638, E29/548, E29/962, E29/954 and E29/972.

The Cathedrals, Stricklands and Investigators nickel-copper-cobalt-PGE discoveries are located on E29/638, which is held in joint venture by St George Mining Limited (75%) and Western Areas Limited (25%). St George is the Manager of the Project, with Western Areas retaining a 25% non-contributing interest in the Project (in regard to E29/638 only) until there is a decision to mine.

For further information, please contact:

John Prineas Peter Klinger Executive Chairman Media and Investor Relations St George Mining Limited Cannings Purple +61 (0) 411 421 253 +61 (0) 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 is based on information compiled by Mr Benjamin Pollard, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Pollard is a director of Cadre Geology and Mining Pty Ltd which has been retained by St George Mining Limited to provide technical advice on mineral projects.

Mr Pollard 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 Pollard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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The following sections are 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 techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the 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.	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 sample representivity and the appropriate calibration of any measurement tools or systems used.	Wherever possible the same side of the drill core is sampled to ensure sample is representative. Appropriate QAQC samples are inserted into the sequences as per industry best practice.
	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.	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. Pulverisation produces a 40g charge for fire assay. Elements determined from fire assay are gold (Au), platinum (Pt) and palladium (Pd) with a 1ppb detection limit. To determine other PGE concentrations (Rh, Ru, Os, Ir) a 25g charge for nickel sulphide collect fire assay is used with a 1ppb detection limit. Other elements will be analysed using an acid digest and an ICP finish. These elements are: Ag, Al, As, Bi, Ca, Cd, Co, Cr, Fe, K, Li, Mg, Mn, Mo, Nb, Ni, P, Pb, S, Sb, Sn, Te, Ti, V, W, Zn. The sample is digested with nitric, hydrochloric, hydrofluoric and perchloric acids to effect as near to total solubility of the sample as possible. The sample is then analysed using ICP‐AES or ICP‐MS. LOI (Loss on Ignition) will be completed on selected samples to determine the percentage of volatiles released during heating of samples to 1000°C.
Drilling techniques	Drill type (eg core, reverse circulation, open‐hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, 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 drilling is completed using HQ sized coring equipment through the weathered zone (mostly saprock) with 3m barrels, and then HQ or NQ2 in fresh rock with 3m or 6m barrels as required. The core is oriented using ACT II electric core orientation.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	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.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Measures taken to maximise core recovery include using appropriate core diameter and shorter barrel length through the weathered zone, which at Cathedrals and Investigators is mostly <20m and Stricklands <40m depth. 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.

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Criteria	JORC Code explanation	Commentary
	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.	No sample recovery issues have yet been identified that would impact on potential sample bias in the competent fresh rocks that host the mineralised sulphide intervals.
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.	Geological logging is completed for all drill holes with lithology, alteration, mineralisation, structure and veining recorded. The logging is recorded digitally and imported in the St George Mining central database.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Logging is both qualitative and quantitative depending on the field being captured. Core is photographed with one tray per photo and stored digitally.
	The total length and percentage of the relevant intersections logged.	All drill holes are geologically logged in full.
Sub‐sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	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.
	If non‐core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Reverse circulation holes have been rotary cone split, and wetness recorded during drilling.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	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.
	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, or for RC comprise a one meter sample equally split into two bags and taken at set meter intervals.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample sizes are considered to be appropriate for base metal sulphide mineralisation and associated geology.
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.	Diamond core samples are analysed for Au, Pt and Pd using a 40g lead collection fire assay; for Rh, Ru, Os, Ir using a 25g nickel sulphide collection fire assay; and for Ag, Al, As, Bi, Ca, Cd, Co, Cr, Fe, K, Li, Mg, Mn, Mo, Nb, Ni, P, Pb, S, Sb, Sn, Te, Ti, V, W, Zn using a four acid digest and ICP‐AES or MS finish. The assay method and detection limits are appropriate for analysis of the elements required.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters 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 systematically analyse the drill core and RC sample piles onsite. One reading is taken per meter, however for any core samples with matrix or massive sulphide mineralisation then multiple samples are taken at set intervals per meter. 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 reporting of element compositions, prior to the receipt of assay results from the certified laboratory.

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Criteria	JORC Code explanation	Commentary
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. 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 are verified by the Exploration Manager of St George Mining.
	The use of twinned holes.	No twin holes are currently planned for the upcoming drill program.
	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 reported.
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.	Drill holes have been located and pegged using a DGPS system with an expected accuracy of +/‐0.05mmm for easting, northing and elevation. Downhole surveys are conducted using a single shot camera approximately every 30m during drilling to record and monitor deviations of the hole from the planned dip and azimuth. Post‐drilling downhole gyroscopic surveys will be conducted, which provide more accurate survey results.
	Specification of the grid system used.	The grid system used at the Mt Alexander project is GDA94 (MGA), zone 51.
	Quality and adequacy of topographic control.	Elevation data has been acquired using DGPS surveying at individual collar locations 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 diamond drill program is testing modelled EM conductors and geological criteria for massive nickel‐copper‐PGE sulphide mineralisation. The spacing and distribution of the planned drill holes is appropriate to test the defined targets.
	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 Cathedrals, Stricklands and Investigators 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.	Drill holes are planned as perpendicular as possible to the target EM plates and geological units to approximate true width. Most of the ultramafic units in the Cathedrals Belt dip shallow to the north (and occasionally south) and where possible drill holes are planned to intersect perpendicular to this dip. The orientation of key structures may be locally variable.

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Criteria	JORC Code explanation	Commentary
	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 St George Mining. Core samples are stored in the secure facilities at Bureau Veritas laboratory in Perth. Transportation of core is managed by St George contractors and Bureau Veritas and actively track monitored.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits or reviews have been conducted at this stage.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral Tenement and Land Status	Type, name/reference number, location and ownership including agreements or material issues with third parties including joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. 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.	The Mt Alexander Project is comprised of five granted Exploration Licences (E29/638, E29/548, E29/954, E29/962 and E29/972). Tenement E29/638 is held in Joint Venture between St George (75% interest) and Western Areas (25% interest). E29/638 and E29/548 are also subject to a royalty in favour of a third party 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). 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 four tenements are in good standing with no known impediments..
Exploration Done by Other Parties	Acknowledgment and appraisal of exploration by other parties.	Exploration on tenements E29/638 and E29/962 has been largely for komatiite‐hosted nickel sulphides in 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. 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 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 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 komatiite‐hosted nickel‐copper‐PGE mineralisation (both greenstone and granite hosted) and also precious metal mineralisation (i.e. orogenic gold) that is typified elsewhere in the Yilgarn Craton.
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 meters) of the drill hole collar	Drill hole collar locations are shown in the maps and tables included in the body of the relevant ASX release.

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Criteria	JORC Code explanation	Commentary
	• Dip and azimuth of the hole • Down hole length and interception depth • Hole length
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. For massive sulphide intersections, the nominal lower cut‐off is 2% for either nickel or copper. For disseminated, blebby and matrix sulphide intersections the nominal lower cut‐off for nickel is 0.3%.
	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 sulphide mineralisation are reported as_included_intervals. Any disseminated, matrix, brecciated or stringer sulphides with (usually) >1% nickel or copper on contact with massive sulphide mineralisation are grouped with the massive sulphides for calculating significant intersections and the massive sulphide mineralisation is reported as an_including_intersection.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values have yet been 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 (e.g. down hole length, true width not known).	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.
Diagrams	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 appropriate sectional views.	A prospect location map, cross section and long section are shown in the body of relevant ASX Releases.
Balanced Reporting	Where comprehensive reporting of all Exploration Results is not practical, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting Exploration Results.	The exploration results reported are representative of the mineralisation style with grades and/or widths reported in a consistent manner.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observation; geophysical 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.	All material or meaningful data collected has been reported. Appendix A contains details of significant intersections at the Investigators Prospect announced by the Company.
Further Work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large – scale step – out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Further exploration in the Cathedrals Belt is currently being planned based on results from the recent drill program. Further exploration is also warranted north of the Cathedrals Belt on E29/548, and also in the Mt Alexander greenstone belt to the south.

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Hole ID	GDA94 East	GDA94 North	Dip	Azimuth	Depth (m)	From (m)	To (m)	Width (m)	Ni%	Cu%	Co%	Total PGEs **g/t **	Au g/t	Ag g/t
MAD29	231559.5	6806419.6	‐60	160	201.6	104.00	105	1	0.36	0.18	0.01	1.02	0.12	1.50
MAD31	231559.4	6806416.5	‐63	133	160	108.00	111.67	3.67	0.56	0.28	0.02	1.22	0.16	1.98
MAD31						111.67	113.24	1.57	6.26	2.71	0.18	4.91	0.19	8.10
		Including				112.08	113.09	1.01	7.98	3.13	0.22	5.90	0.14	9.06
MAD32	232040.2	6806403	‐73	220	92.7	44	51.6	7.6	0.44	0.19	0.02	0.59	0.03	0.88
MAD32						51.6	53.52	1.92	4.58	1.52	0.14	3.83	0.12	4.43
		Including				52.75	53.52	0.77	7.82	2.50	0.24	6.31	0.13	6.82
MAD33	232038.2	6806412	‐57	330	129.7	87.45	96.48	9.03	0.43	0.14	0.02	0.44	0.03	1.08
MAD33						96.48	97.49	1.01	5.81	2.33	0.22	4.32	0.12	7.30
MAD34	230769	6806330	‐70	25	152.5	94	96.1	2.1	0.52	0.25	0.02	0.57	0.07	2.04
MAD34						96.1	98.89	2.79	1.63	0.53	0.05	1.24	0.11	3.62
		Including				98.7	98.89	0.19	7.34	1.53	0.22	3.27	0.05	24.00
MAD37	230772.7	6806327	‐84	335	156	110	122	12	0.41	0.13	0.02	0.35	0.04	1.22
MAD37						122	123.27	1.27	5.63	2.16	0.17	3.86	0.10	6.83
		Including				122.55	123.27	0.72	7.93	2.75	0.23	4.81	0.07	9.00
		And, Including				123.27	123.6	0.33	0.81	0.69	0.03	2.33	0.14	2.50
MAD38	231205.1	6806248	‐70	90	65.5	25.4	28.14	2.74	3.77	1.48	0.10	3.85	0.17	5.49
		Including				26.3	26.4	0.1	12.80	5.54	0.25	11.52	0.38	36.50
		And, Including				27.6	28.14	0.54	8.59	3.43	0.24	6.73	0.14	10.00
MAD40	231575.7	6806427	‐68	160	142.3	105.35	106.79	1.44	0.46	0.16	0.02	0.60	0.07	1.32
MAD40						106.79	108.75	1.96	5.09	2.11	0.16	3.46	0.39	6.04
		Including				107.75	108.75	1	7.88	3.11	0.24	5.04	0.53	8.00
MAD43	231528.9	6806508	‐70	160	180	149.7	157.22	7.52	0.43	0.20	0.02	0.55	0.05	1.13
MAD43						157.22	157.9	0.68	7.09	2.73	0.23	3.54	0.14	9.50
MAD43						170.43	170.53	0.1	4.25	0.98	0.13	2.91	0.11	6.00
MAD43						171.1	171.25	0.15	1.88	1.27	0.06	1.65	0.11	6.50
MAD44	231482.4	6806488	‐70	180	180	155.66	156.11	0.45	5.59	1.27	0.18	4.28	0.24	11.70
		Including				155.84	156.11	0.27	8.49	1.67	0.27	5.24	0.20	16.50
MAD45	231004.9	6806368	‐81	355	229	174	178.23	4.23	0.39	0.13	0.02	0.35	0.04	0.85
MAD45						178.23	180.14	1.91	3.60	1.04	0.11	2.56	0.19	2.71
		Including				178.87	179.08	0.21	5.44	0.51	0.17	2.55	0.09	2.50
		And, Including				179.76	180.14	0.38	7.10	2.84	0.21	5.42	0.21	7.00
MAD47	231659.8	6806394	‐70	175	142.1	42.2	43	0.8	1.77	2.85	0.05	4.31	0.21	8.34
		Including				42.2	42.35	0.15	0.92	6.85	0.02	5.35	0.24	21.00
		And, Including				42.9	43	0.1	7.54	7.02	0.28	10.04	0.33	14.00
MAD47	231659.8	6806394	‐70	175	142.1	43.95	44.2	0.25	1.65	0.74	0.03	2.71	0.13	2.50
MAD48	231559.7	6806410	‐70	181	127.1	89.35	91.98	2.63	0.58	0.33	0.02	0.97	0.10	4.36
MAD48						91.98	92.89	0.91	7.23	2.42	0.20	4.51	0.18	8.00
MAD60	231225.2	6806451	‐70	178	190	156	157.9	1.9	0.60	0.28	0.02	1.49	0.29	2.63
MAD60						157.9	163.2	5.3	4.95	2.75	0.16	4.55	0.25	8.95
		Including				159.38	162.38	3	6.40	3.55	0.21	5.25	0.17	12.18
		And, Including				162.9	163.2	0.3	5.93	3.54	0.20	4.36	0.12	11.00
MAD61	231249.4	6806423	‐70	180	160.1	133	135.6	2.6	0.37	0.17	0.01	0.48	0.04	0.65
MAD61						135.94	136.18	0.24	0.73	0.61	0.02	1.64	0.14	2.50

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MAD62	231587.4	6806445	‐70	0	220	195.84	197.25	1.41	0.82	0.31	0.04	0.92	0.07	1.28
MAD62						197.25	197.56	0.31	6.07	2.81	0.23	2.94	0.03	6.50
MAD63	230796.9	6806312	‐75	355	128.1	106	110.33	4.33	0.81	0.35	0.03	1.26	0.17	2.66
MAD63						110.33	110.62	0.29	7.73	2.57	0.24	3.26	0.04	5.50
MAD63						110.62	110.77	0.15	0.82	1.05	0.03	6.13	0.08	3.50
MAD72	231242.1	6806418	‐75	180	154.7	131.3	135.79	4.49	0.38	0.09	0.02	0.28	0.02	0.55
MAD72						135.79	136	0.21	5.90	0.32	0.19	1.08	0.01	3.00
MAD72						136	136.71	0.71	0.53	0.15	0.02	0.40	0.03	7.00
MAD72						136.71	136.96	0.25	6.23	7.48	0.21	2.52	0.01	18.00
MAD108	231218	6806453	‐76	33	250	199	207.4	8.4	2.00	0.96	0.06	2.59	0.24	4.31
						206.03	207.4	1.37	6.83	2.88	0.21	5.58	0.26	8.98
MAD112	232000	6806453	‐58	174	140	116	119.55	3.55	4.67	2.27	0.20	2.94	0.16	7.14

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