ST GEORGE MINING LIMITED — Capital/Financing Update 2018

Apr 9, 2018

ASX / MEDIA RELEASE

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10 April 2018

DRILL HOLE MAD88 AT MT ALEXANDER - UPDATE

HIGHLIGHTS:

• Nickel-copper sulphides intersected in MAD88 starting from 56m downhole

• Drilling at Sticklands continues

Emerging West Australian nickel company St George Mining Limited (ASX: SGQ ) (“ St George ” or “ the Company ”) is pleased to provide further commentary on drill hole MAD88 completed at the Mt Alexander Project, located near Leonora in the north-eastern Goldfields.

Preliminary results for MAD88 were announced in our ASX Release dated 4 April 2018 ’Nickel-Copper Sulphide Drilling at Mt Alexander – Update ’ (the “ MAD88 Release ”).

MAD88 intersected ultramafic from 55m to 73m downhole that included the following intervals of nickelcopper sulphide mineralisation (based on initial geological logging and portable XRF analysis):

• 56m to 60.73m : 4.73m of Ni-Cu mineralisation (disseminated, stringer, semi-massive and massive sulphides)

• 61.26m to 61.65m: 0.39m of Ni-Cu semi-massive sulphides

• 66.01m to 70.64m: 4.63m of Ni-Cu mineralisation (disseminated, blebby, stringer and massive sulphides)

• 71.84m to 73m: 1.16m of blebby Ni-Cu sulphide mineralisation

The total of nickel-copper sulphide mineralisation in MAD88 is 10.9m based on an aggregation of the above mineralised intervals.

For further details of the mineralisation in MAD88, please refer to the MAD88 Release which includes a stratigraphic column of MAD88. This provides a graphic illustration of the various mineralised intervals together with a descriptive commentary of each, and is reproduced below for easy reference.

The thick nickel-copper sulphides in MAD88 are not a continuous intersection of mineralisation and any contrary interpretation should not be made. This provides clarification to the first bullet point of the highlights section in our MAD88 Release.

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

“MAD88 is an important drill hole in the current programme.

“The drill hole intersected massive nickel-copper sulphides approximately 100m to the north-east of MAD71, which supports the potential for further mineralisation in the Stricklands ultramafic, which is interpreted to have a strike of 400m.

“We look forward to announcing the assay results for MAD88 in due course.”

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ASX / MEDIA RELEASE

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Stratigraphic column for MAD88 showing the various intervals that comprise the total 10.9m of sulphide mineralisation:

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References to XRF results and to portable XRF analysis relate to analysis using a hand-held Olympus Innov-X Spectrum Analyser. As such, results from XRF analysis are stated as indicative only and are preliminary to subsequent confirmation by laboratory assays.

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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 (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 related to Exploration Targets, Exploration Results, Minerals Resources or Ore Reserves regarding the Mt Alexander Project is based on information complied by Mr Matthew McCarthy, a Competent Person who is a Member of The Australian Institute of Geoscientists. Mr McCarthy is employed by St George Mining Limited.

This ASX announcement contains information extracted from the following reports which are available on the Company’s website at www.stgm.com.au:

• 4 April 2018 Nickel-Copper Sulphide Drilling at Mt Alexander - Update

The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in any original market announcements referred to in this report and that no material change in the results has occurred. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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