ST GEORGE MINING LIMITED — Capital/Financing Update 2020

Feb 24, 2020

25 February 2020

MORE EM TARGETS EMERGE FOR NICKEL-COPPER SULPHIDE DRILLING AT MT ALEXANDER

West End Prospect lights up with moving loop electromagnetic (MLEM) survey:

• Multiple EM anomalies identified at West End Prospect by high temperature SQUID MLEM survey
• These new EM anomalies are located to the north-northwest of the high-grade nickelcopper sulphide discoveries at the Investigators Prospect and are coincident with the western extension of the Cathedrals mineralised trend

Downhole electromagnetic (DHEM) surveys at Investigators record multiple new EM anomalies:

• Multiple off-hole EM anomalies identified in several of the deeper drill holes completed at Investigators in late 2019
• New EM anomalies are excellent targets for further down-plunge extensions of the shallow deposits at Investigators

Magnetotelluric (MT) survey to commence shortly at Mt Alexander:

• MT survey is an electromagnetic geophysical survey that records the Earth's electric and magnetic fields, resulting in the identification and mapping of geological structures and stratigraphy to very significant depths
• The MT survey at Mt Alexander is designed to map the structures and ultramafic intrusives at the Cathedrals Belt to a potential depth of 5km and will also identify any repetitions of similar structures and ultramafic stratigraphy in the underexplored tenements adjacent to the Cathedrals Belt
• Data from the MT survey will assist in planning deeper drilling at the Cathedrals Belt to further investigate the down-plunge extensions of the shallow nickel-copper sulphide deposits in the Belt

Multi-rig drill programme to test large number of EM targets:

• A combined reverse circulation (RC) and diamond drill programme will commence shortly to test a large number of EM targets in the Cathedrals Belt and to complete resource definition at the Stricklands Prospect
• In addition to the new West End EM anomalies and deep DHEM anomalies at Investigators, drilling will test new EM anomalies at the Fish Hook Prospect and over 30 EM anomalies at the Investigators Prospect that were identified in 2019 and remain untested by drilling

With all EM conductors tested in the Cathedrals Belt to date confirmed as nickel-copper sulphides, the upcoming drilling has the potential to significantly increase the volume of high-grade mineralisation at Mt Alexander

Metallurgical testwork continues:

• Testwork in progress on sulphides from metallurgical hole MAD177 to optimise recoveries of nickel, copper, cobalt and PGEs
• Preliminary test work produced a nickel concentrate that included 13.5g/t PGEs, including 9g/t Palladium and 1.2g/t Rhodium
• Both of these precious metals are trading at or about record highs with Palladium at more than USD2,600/oz and Rhodium at more than USD11,000/oz

Growth focused Western Australian nickel company St George Mining Limited (ASX: SGQ) ("St George" or "the Company") is pleased to report further outstanding exploration results from ongoing work at its flagship Mt Alexander nickel-copper sulphide project, located in the north-eastern Goldfields.

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

"EM surveys are the 'go to' targeting tool for nickel sulphide exploration – and these surveys have worked brilliantly at the Cathedrals Belt with all conductors drilled to date confirmed as nickel-copper sulphides.

"Our 2020 exploration programme commenced with further EM surveys at Mt Alexander. We have methodically completed a new surface-based SQUID MLEM survey as well as DHEM surveys in recently drilled deeper holes.

"The results are highly encouraging with new EM anomalies identified at the unexplored Fish Hook and West End Prospects, and new DHEM anomalies identified from the deeper holes at the highly mineralised Investigators Prospect.

"The quantity of EM targets and their position in prospective geological locations provides confidence that ongoing drilling will deliver more discoveries of nickel-copper sulphides in the Cathedrals Belt.

"We are also continuing the scoping study for a potential mining operation at Mt Alexander and are very pleased to be commencing resource definition drilling at Stricklands.

"Metallurgical test work with industry leading metallurgical advisers is also progressing and we are keenly awaiting results on how to optimise the commercialisation of our high grades of nickel, copper, cobalt and platinum group metals – mineralisation which we believe is unparalleled amongst nickel developers.

"Our 2020 work programmes for Mt Alexander are gaining momentum and we look forward to a very exciting year for St George shareholders."

NEW EM TARGETS SUPPORT POTENTIAL FOR FURTHER DISCOVERIES

The SQUID MLEM survey over key target areas of the Cathedrals Belt has been completed, and has successfully identified multiple new EM anomalies in a number of areas that are prospective for nickelcopper sulphides.

DHEM surveys have also been completed in the deeper holes drilled at Investigators in late 2019. Several off-hole EM anomalies were recorded, giving confidence for further down-plunge extensions of the shallow deposits at Investigators.

Modelling of the new EM targets is being finalised, with drilling scheduled to commence in early March 2020.

West End Prospect:

The target zone for the potential discovery of further nickel-copper sulphides at West End is the western continuation of the Cathedrals ultramafic trend, which was successfully mapped by the 2019 SAM survey across the Cathedrals Belt.

This ultramafic trend hosts the known deposits of nickel-copper sulphides at Investigators, Stricklands, Cathedrals and Radar and has been shown by the 2019 SAM survey to extend into the West End Prospect for more than 3km. For further details of the SAM survey, see our ASX Release dated 4 June 2019 "Nickel Sulphide Extension Targets at Mt Alexander".

The recently completed SQUID MLEM survey over the West End Prospect has recorded a number of anomalous EM responses that are co-incident with the interpreted ultramafic trend; see Figure 1.

Figure 1 – SAM (MMC) image and drilling overlaying magnetics (TMI RTP 1VD). Red/purple colours map the ultramafic trend, with new EM anomalies situated within unexplored extensions of ultramafic.

Figure 2 shows the MLEM survey data for West End in a single component (Channel Z). The EM anomalies are situated to the north-northwest of the high-grade discoveries at Investigators where similar EM anomalies were recorded.

Whilst subtle and challenging to model given the interpreted deeper source and complex geometry, the coincidence of the new West End EM targets with the projected plunge direction of the Investigators mineralisation gives support to the potential that the new West End EM targets may represent the downplunge continuation of the Investigators nickel-copper sulphide deposits.

Importantly, one of the off-hole EM anomalies detected in the DHEM surveys is broadly co-incident with a large EM anomaly identified in the surface MLEM data.

This adds weight to the potential of the new EM anomalies to represent the down-plunge continuation of the Investigators nickel-copper sulphide deposits.

Figure 2 – SQUID MLEM (CH28Z) image and drilling overlaying magnetics (TMI RTP 1VD)

Fish Hook Prospect:

Figure 3 shows the location of the SQUID MLEM EM anomalies identified at Fish Hook.

The anomalies are coincident with magnetic anomalies that, in other parts of the Cathedrals Belt, have been confirmed by drilling to be intrusive mafic-ultramafic units. Fish Hook is situated within a tenement owned 100% by St George.

The new EM anomalies are also proximal to the large nickel and copper soil anomaly identified at Fish Hook. The soil anomaly strongly supports the presence of nickel-copper sulphides at Fish Hook.

Figure 3 – map of the Fish Hook Prospect showing SQUID MLEM (CH28Z), as well as the location of the large nickel soil anomaly, overlaying magnetic (RTP 1VD). The warmer colours (red, purple, yellow) reflect areas of high EM anomalism.

Investigators Prospect:

A number of deeper holes were completed at Investigators in late 2019, with all holes intersecting maficultramafic intrusives and/or nickel-copper sulphides.

DHEM surveys in two of the holes – MAD170 and MAD172 – have identified off-hole EM anomalies down plunge of the known mineralisation. One of the DHEM anomalies is also broadly coincident with an EM anomaly identified from the surface SQUID MLEM survey. These are shown in Figure 1 and 2 above.

The new DHEM anomalies represent excellent targets for additional nickel-copper sulphides down-plunge of the shallow deposits at Investigators.

In addition to the new EM targets, 30 of the EM anomalies identified at Investigators in 2019 remain untested and will be prioritised for drilling in the upcoming drill programme.

Many of these EM anomalies are situated between 50m to 100m from known occurrences of nickel-copper sulphides, and represent an excellent opportunity to add significant volumes of sulphides to the known mineralisation at Investigators.

MAGNETOTELLURIC (MT) SURVEY

A MT survey is scheduled to be completed prior to the start of drilling in early March 2020. The survey measures the electrical and magnetic fields in the Earth's sub-surface from which geological structures and rock types can be mapped.

MT surveys are relatively very low cost compared to seismic surveys, and can provide similar data at this stage of exploration. The seismic survey proposed for Mt Alexander will be deferred until after the results of the MT survey are assessed.

The data acquired by the MT survey at Mt Alexander is expected to show the orientation of the intrusive stratigraphy and host structures at depth, and whether these continue uniformly at depth or are folded, stacked or otherwise disrupted. This will assist in designing drill holes to investigate the potential for deeper nickel-copper sulphide deposits.

The MT survey will encompass approximately 15km of the east-west strike of the Cathedrals Belt and will also cover the entire area of the Exploration Licences adjacent to the Cathedrals Belt. The MT survey will be designed to see upto 5km below the Earth's surface.

The airborne magnetic survey completed by St George on the tenement to the north of the Cathedrals Belt (E29/548) highlighted several east-west structures that may represent repetitions of the Cathedrals Belt.

The MT survey will assist to map these structures in greater detail to allow further targeted exploration. For details of the airborne magnetic survey, see our ASX Release dated 7 December 2016 "Further Nickel-Copper Sulphide Targets".

2020 DRILLING PROGRAMMES

St George Mining is excited to be commencing its 2020 drill programmes shortly.

Compilation of results from the exploration activities to date has identified numerous high-quality targets that have the potential to significantly increase the volume of high-grade mineralisation at Mt Alexander.

Final drill targets for the 2020 drill programmes will be announced soon. Initial drilling is envisaged to encompass:

• 1. Fish Hook drilling of EM anomalies and geological/geochemical targets.
• 1. West End drilling of EM anomalies and geological targets.
• 1. Fairbridge deep drilling underneath the numerous surface gossans.
• 1. Radar drilling of EM anomalies and geological targets.
• 1. Investigators drilling of EM anomalies and deeper geological targets.
• 1. Stricklands resource definition drilling as well as metallurgical and geotechnical holes.

A reverse circulation (RC) rig is scheduled to arrive at site in early March 2020. The rig will initially complete pre-collars for the deep diamond drill holes, and will then focus on drilling shallow EM targets and the resource definition drill-out of Stricklands.

A diamond rig is scheduled to also arrive at site in March 2020 to commence drilling of deeper EM and geological targets. Diamond drilling of deeper targets is preferred at the Cathedrals Belt as the hard, granite terrain is challenging for the percussion-drilling of the RC rig.

METALLURGICAL TESTING – PGEs STANDOUT

We are also excited to be continuing the metallurgical testwork on the Mt Alexander mineralisation. The preliminary testwork from 2016 identified high values of Palladium and Rhodium within the PGEs reporting to the nickel concentrate.

The testwork will further investigate the potential to commercialise these highly valuable metals within our mineralisation. For further information on the metallurgical testwork underway, see our ASX Release dated 28 January 2020 "2020 Begins with More Strong Results".

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.

Authorised for release by the Board of St George Mining Limited.

For further information, please contact:
John PrineasPeter 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 Dave O'Neill, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr O'Neill is employed by St George Mining Limited to provide technical advice on mineral projects, and he holds performance rights issued by the Company.

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

The following section is 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
SamplingNature and quality ofsampling (eg cut channels,techniquesrandom chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments,etc). These examples should not be taken aslimiting the broad meaning of sampling.		Drilling programmes are completed by Reverse Circulation (RC) andDiamond Core drilling. Surface Electro‐Magnetic (EM) surveys arecompleted by GEM geophysics.
	Diamond Core Sampling: The sections of the core that are selectedfor assaying are marked up and then recorded on a sample sheet forcutting and sampling at the certified assay laboratory. Samples of HQor NQ2 core are cut just to the right of the orientation line whereavailable using a diamond core saw, with half core sampledlengthways for assay.
		RC Sampling: Allsamplesfrom the RC drilling are taken as 1m samplesfor laboratory assay.
		EM Surveying: All data is collected in a Moving Loop (MLEM) surveyconfiguration using a Zonge ZT‐30 transmitter, Supracon Jessy DEEPHT SQUID sensor and SMARTem 24 receiver.
		Appropriate QAQC samples (standards, blanks and duplicates) areinserted into the sequences as per industry best practice. Samples arecollected using cone or riffle splitter. Geological logging of RC chips iscompleted at site with representative chips being stored in drill chiptrays.
		Onsite XRF analysis is conducted on the fines from RC chips using ahand‐held Olympus Innov‐X Spectrum Analyser. These results areused for onsite interpretation and preliminary assessment subject tofinal geochemical analysis by laboratory assays.
	Include reference to measures taken to ensuresamplerepresentivityandtheappropriatecalibrationofanymeasurementtoolsorsystems used.	RC Sampling: Samples are taken on a one metre basis and collectedusing uniquely numbered calico bags. The remaining material for thatmetre is collected and stored in a green plastic bag marked with thatspecific metre interval. The cyclone is cleaned with compressed airafter each plastic and calico sample bag is removed. If wet sample orclays are encountered then the cyclone is opened and cleanedmanually and with the aid of a compressed air gun. A blank sample isinserted at the beginning of each hole, and a duplicate sample istaken every 50th sample. A certified sample standard is also addedaccording to geology, but at no more than 1:50 samples.
	Geological logging of RC chipsis completed atsite with representativechips being stored in drill chip trays. Downhole surveys of dip andazimuth are conducted using a single shot camera every 30m, andusing a downhole Gyro when required, to detect deviations of thehole from the planned dip and azimuth. The drill‐hole collar locationsare recorded using a hand‐held GPS, which has an accuracy of +/‐ 5m.All drill‐hole collars will be surveyed to a greater degree of accuracyusing a certified surveyor at a later date.
		Diamond Core Sampling: For diamond core samples, certified sample25thstandardswereaddedaseverysample.Corerecoverycalculations are made through a reconciliation of the actual core andthe driller's records. Downhole surveys of dip and azimuth wereconducted using a single shot camera every 30m to detect deviationsof the hole from the planned dip and azimuth. The drill‐hole collarlocations are recorded using a hand‐held GPS, which has an accuracyof +/‐ 5m. All drill‐hole collars will be surveyed to a greater degree ofaccuracy using a certified surveyor at a later date.

Criteria	JORC Code explanation	Commentary
	Aspects of the determination of mineralisationthat are Material to the Public Report.In cases where 'industry standard' work hasbeen done this would be relatively simple (eg'reverse circulation drilling was used to obtain 1m samples from which 3 kg was pulverised toproduce a 30 g charge for fire assay'). In othercases more explanation may be required, suchas where there is coarse gold that has inherentsampling problems. Unusual commodities ormineralisation types (eg submarine nodules)may warrant disclosure of detailed information.	RC Sampling: A 1m composite sample is taken from the bulk sampleof RC chips that may weigh in excess of 40 kg. Each sample collectedfor assay typically weighs 2‐3kg, and once dried, is prepared for thelaboratory as per the Diamond samples below.Diamond Core Sampling: Diamond core (both HQ and NQ2) is half‐core sampled to geological boundaries no more than 1.5m and no lessthan 10cm. Samples less than 3kg are crushed to 10mm, dried andthen pulverised to 75µm. Samples greater than 3kg are first crushedto 10mm then finely crushed to 3mm and input into the rotarysplitters to produce a consistent output weight for pulverisation.Pulverisation produces a 40g charge for fire assay. Elementsdetermined from fire assay are gold (Au), platinum (Pt) and palladium(Pd)witha1ppbdetectionlimit.TodetermineotherPGEconcentrations (Rh, Ru, Os, Ir) a 25g charge for nickel sulphide collectfire 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 digestedwith nitric, hydrochloric, hydrofluoric and perchloric acids to effect asnear to total solubility of the sample as possible. The sample is thenanalysed using ICP‐AES or ICP‐MS.
		LOI (Loss on Ignition) will be completed on selected samples todetermine the percentage of volatiles released during heating ofsamples to 1000°C.
Drillingtechniques	Drill type (eg core,reverse circulation, open‐holehammer, rotary air blast, auger, Bangka, sonic,etc) and details (eg core diametre, triple orstandard tube, depth of diamond tails, face‐sampling bit or other type, whether core isoriented and if so, by what method, etc).	Diamond Core Sampling: The collars of the diamond holes weredrilled using RC drilling down through the regolith to the point ofrefusal or to a level considered geologically significant to change tocore. The hole was then continued using HQ diamond core until thedrillers determined that a change to NQ2 coring was required.
		The core is oriented and marked by the drillers. The core is orientedusing ACT Mk II electric core orientation.
		RC Sampling: The RC drilling uses a 140 mm diametre face hammertool. High capacity air compressors on the drill rig are used to ensurea continuously sealed and high pressure system during drilling tomaximise the recovery of the drill cuttings, and to ensure chipsremain dry to the maximum extent possible.
Drill samplerecovery	Method of recording and assessing core andchip sample recoveries and results assessed.	Diamond Core Sampling: Diamond core recoveries are recordedduring drilling and reconciled during the core processing andgeological logging. The core length recovered is measured for eachrun and recorded which is used to calculate core recovery as apercentage.
		RC Sampling: RC samples are visually checked for recovery, moistureand contamination. Geological logging is completed at site withrepresentative RC chips stored in chip trays.
	Measures taken to maximise sample recoveryand ensure representative nature of thesamples.	RC Sampling: Samples are collected using cone or riffle splitter.Geological logging of RC chipsis completed atsite with representativechips being stored in drill chip trays.
		Diamond Core Sampling: Measures taken to maximise core recoveryinclude using appropriate core diameter and shorter barrel lengththrough the weathered zone, which at Cathedrals and Investigators ismostly <20m and Stricklands <40m depth. Primary locations for coreloss in fresh rock are on geological contacts and structural zones, anddrill techniques are adjusted accordingly, and if possible these zonesare predicted from the geological modelling.

Criteria	JORC Code explanation	Commentary
	Whether a relationship exists between samplerecovery and grade and whether sample biasmay have occurred due to preferential loss/gainof fine/coarse material.	To date, no sample recovery issues have yet been identified thatwould impact on potential sample bias in the competent fresh rocksthat host the mineralised sulphide intervals.
Logging	Whether core and chip samples have beengeologically and geotechnically logged to a levelofdetailtosupportappropriateMineralResourceestimation,miningstudiesandmetallurgical studies.	Geological logging is carried out on all drill holes with lithology,alteration, mineralisation, structure and veining recorded.
	Whether logging is qualitative or quantitative innature.Core(orcostean,channel,etc)photography.	Loggingofdiamondcoreand RCsamplesrecordslithology,mineralogy, mineralisation,structures(core only), weathering, colourand other noticeable features. Core was photographed in both dryand wet form.
	The total length and percentage of the relevantintersections logged.	All drill holes are geologically logged in full and detailed litho‐geochemical information is collected by the field XRF unit. The datarelating to the elements analysed is used to determine furtherinformation regarding the detailed rock composition.
Sub‐samplingtechniques andsamplepreparation	If core, whether cut or sawn and whetherquarter, half or all core taken.	Diamond Core Sampling: Diamond core was drilled with HQ and NQ2size and sampled as complete half core to produce a bulk sample foranalysis. Intervals selected varied from 0.3 – 1m (maximum) The HQand NQ2 core is cut in half length ways just to the right of theorientation line where available using a diamond core saw. Allsamples are collected from the same side of the core wherepracticable.
		Assay preparation procedures ensure the entire sample is pulverisedto 75 microns before the sub‐sample is taken. This removes thepotential for the significant sub‐sampling bias that can be introducedat this stage.
	If non‐core, whether riffled, tube sampled,rotary split, etc and whether sampled wet ordry.	RC samples are collected in dry form. Samples are collected usingcone or riffle splitter when available. Geological logging of RC chips iscompleted at site with representative chips being stored in drill chiptrays.
	For all sample types, the nature, quality andappropriateness of the sample preparationtechnique.	RC Sampling: Sample preparation for RC chips follows a standardprotocol.
		The entire sample is pulverised to 75µm using LM5 pulverising mills.Samples are dried, crushed and pulverized to produce a homogenousrepresentative 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 ofsamples.	Quality control procedures include submission of Certified ReferenceMaterials (standards), duplicates and blanks with each sample batch.QAQC results are routinely reviewed to identify and resolve anyissues.
		RC Sampling: Field QC procedures maximise representivity of RCsamples and involve the use of certified reference material as assaystandards, along with blanks, duplicates and barren washes.
		Diamond Core Sampling: Drill core is cut in half lengthways and thetotal half‐core submitted as the sample. This meets industrystandards where 50% of the total sample taken from the diamondcore is submitted.

Criteria	JORC Code explanation	Commentary
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second‐half sampling.	Duplicate samples are selected during sampling. Samples comprisetwo quarter core samples for Diamond Core. Duplicate RC samplesare captured using two separate sampling apertures on the splitter.
	Whether sample sizes are appropriate to thegrain size of the material being sampled.	The sample sizes are considered to be appropriate to correctlyrepresent base metal sulphide mineralisation and associated geologybased on: the style of mineralisation (massive and disseminatedsulphides), the thickness and consistency of the intersections and thesampling methodology.
Quality ofassay data andlaboratorytests	The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial ortotal.	For RC sampling, a 30 gram sample will be fire assayed for gold,platinum and palladium. The detection range for gold is 1 – 2000ppbAu, and 0.5 – 2000 ppb for platinum and palladium. This isbelieved to be an appropriate detection level for the levels of theseelements within this specific mineral environment. However, shouldAu, Pt or Pd levels reported exceed these levels; an alternative assaymethod will be selected.
		All other metals will be analysed using an acid digest and an ICP finish.The sample is digested with nitric, hydrochloric, hydrofluoric andperchloric acids to effect as near to total solubility of the sample aspossible. The solution containing samples of interest, including thosethat need further review, will then be presented to an ICP‐OES for thefurther quantification of the selected elements.
		Diamond core samples are analysed for Au, Pt and Pd using a 40g leadcollection fire assay; for Rh, Ru, Os, Ir using a 25g nickel sulphidecollection 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 digestand ICP‐AES or MS finish. The assay method and detection limits areappropriate for analysis of the elements required.
	For geophysical tools, spectrometres, handheldXRF instruments, etc, the parametres used indetermining the analysis including instrumentmake and model, reading times, calibrations	MLEM: 200m x 200m loops with 50‐100m stations were used for theMLEM surveys. The MLEM Zonge ZT‐30 HPM transmitter uses a basefrequency of 0.25 or 0.5Hz and 80amps. The SMARTem 24 is afluxgate receiver.
	factors applied and their derivation, etc.	XRF: A handheld XRF instrument (Olympus Innov‐X SpectrumAnalyser) is used to systematically analyse the drill core and RCsample piles onsite. One reading is taken per metre, however for anycore samples with matrix or massive sulphide mineralisation thenmultiple samples are taken at set intervalsper metre.Theinstruments are serviced and calibrated at least once a year. Fieldcalibration of the XRF instrument using standards is periodicallyperformed (usually daily).
		The handheld XRF results are only used for preliminary assessmentand reporting of element compositions, prior to the receipt of assayresults from the certified laboratory.
	Nature of quality control procedures adopted(egstandards,blanks,duplicates,externallaboratory checks) and whether acceptablelevels of accuracy (ie lack of bias) and precision	Laboratory QAQC involves the use of internal lab standards usingcertified reference material (CRMs), blanks and pulp duplicates aspart of in‐house procedures. The Company also submits a suite ofCRMs, blanks and selects appropriate samples for duplicates.
	have been established.	Sample preparation checks for fineness are performed by thelaboratory to ensure the grind size of 90% passing 75µm is beingattained.
Verification ofsampling andassaying	The verification of significant intersections byeither independent or alternative companypersonnel.	Significant intersections are verified by the Company's technicalstaff.
	The use of twinned holes.	No twinned holes have been planned for the current drillprogramme., other than MAD177 referred to in the ASX Release.

Criteria	JORC Code explanation	Commentary
	Documentation of primary data, data entryprocedures, data verification, data storage(physical and electronic) protocols.	Primary data is captured onto a laptop using acQuire software andincludes geological logging,sample data and QA/QC information. Thisdata, together with the assay data, is entered into the St GeorgeMiningcentralSQLdatabasewhichismanagedbyexternalconsultants.
	Discuss any adjustment to assay data.	No adjustments or calibrations will be made to any primary assay datacollected for the purpose of reporting assay grades and mineralisedintervals. For the geological analysis, standards and recognisedfactors may be used to calculate the oxide form assayed elements, orto calculate volatile free mineral levels in rocks.
Location ofdata points	Accuracy and quality of surveys used to locatedrillholes(collaranddown‐holesurveys),trenches, mine workings and other locations	Drill holes and EM stations have been located and pegged using aDGPS system with an expected accuracy of +/‐5m for easting,northing and elevation.
	used in Mineral Resource estimation.	Downhole surveys are conducted using a single shot cameraapproximately every 30m or downhole Gyro during drilling to recordand monitor deviations of the hole from the planned dip and azimuth.Post‐drilling downhole gyroscopic surveys will be conducted, whichprovide more accurate survey results.
	Specification of the grid system used.	The grid system used is GDA94, MGA Zone 51.
	Quality and adequacy of topographic control.	Elevation data has been acquired using DGPS surveying at individualcollar locations and entered into the central database. Atopographic surface has been created using this elevation data.
Data spacinganddistribution	Data spacing for reporting of ExplorationResults.	The spacing and distribution of holes is not relevant to the drillingprograms which are at the exploration stage rather than definitiondrilling.
	Whether the data spacing and distribution issufficient to establish the degree of geologicalandgradecontinuityappropriatefortheMineral Resource and Ore Reserve estimationprocedure(s) and classifications applied.	The completed drilling at the Project is not sufficient to establish thedegree of geological and grade continuity to support the definition ofMineral Resource and Reserves and the classifications applied underthe 2012 JORC code.
	Whether sample compositing has been applied.	No compositing has been applied to the exploration results.
Orientation ofdata in relationto geologicalstructure	Whether the orientation of sampling achievesunbiased sampling of possible structures andthe extent to which this is known, consideringthe deposit type.	The drill holes are drilled to intersect the modelled mineralised zonesat a near perpendicular orientation (unless otherwise stated).However, the orientation of key structures may be locally variableand any relationship to mineralisation has yet to be identified.
	If the relationship between the drillingorientation and the orientation of keymineralised structures is considered to haveintroduced a sampling bias, this should beassessed and reported if material.	No orientation based sampling bias has been identified in the datato date.
Samplesecurity	The measures taken to ensure sample security.	Chain of Custody is managed by the Company until samples pass to aduly certified assay laboratory for subsampling and assaying. The RCsample bags are stored on secure sites and delivered to the assaylaboratory by the Company or a competent agent. When in transit,they are kept in locked premises. Transport logs have been set up totrack the progress of samples.
Audits orreviews	The results of any audits or reviews of samplingtechniques and data.	Sampling techniques and procedures are regularly reviewedinternally, as is data. To date, no external audits have beencompleted on the drilling programme.

Section 2 Reporting of Exploration Results (Criteria listed in section 1 will also apply to this section where relevant)

MineralType, name/reference number, location andThe Mt Alexander Project is comprised of five granted ExplorationTenement andownership including agreements or materialLicences(E29/638, E29/548,E29/954, E29/962andE29/972).Land Statusissues with third partiesincluding joint ventures,Tenement E29/638 is held in Joint Venture between St George (75%partnerships, overriding royalties, native titleinterest) and Western Areas(25% interest). E29/638 and E29/548 areinterests, historical sites, wilderness or nationalalso subject to a royalty in favour of a third party that is outlined inpark and environmental settings.the ASX Release dated 17 December 2015 (as regards E29/638) andthe ASX release dated 18 September 2015 (as regards E29/548).No environmentally sensitive sites have been identified on theThe security of the tenure held at the time oftenements. A registered Heritage site known as Willsmore 1 (DAAreporting along with any known impedimentstoidentification 3087) straddles tenements E29/548 and E29/638. Allobtaining a licence to operate in the area.five tenements are in good standing with no known impediments.ExplorationAcknowledgment and appraisal of explorationExploration on tenements E29/638 and E29/962 has been largely forDone by Otherby other parties.komatiite‐hosted nickel sulphides in the Mt Alexander GreenstonePartiesBelt. Exploration in the northern section of E29/638 (Cathedrals Belt)andalsolimitedexplorationonE29/548hasbeenformafic/ultramafic intrusion related Ni‐Cu‐PGE sulphides. No historicexploration has been identified on E29/954 or E29/972.High grade nickel‐copper‐PGE sulphides were discovered at the MtAlexander Project in 2008. Drilling was completed to test co‐incidentelectromagnetic (EM) and magnetic anomalies associated withnickel‐PGE enriched gossans in the northern section of currenttenement E29/638. The drilling identified high grade nickel‐coppermineralisation in granite‐hosted ultramafic units and the discoverywas named the Cathedrals Prospect.GeologyDeposit type, geological setting and style ofThe Mt Alexander Project is at the northern end of a westernmineralisationbifurcation of the Mt Ida Greenstones. The greenstones are bound tothe west by the Ida Fault, a significant Craton‐scale structure thatmarks the boundary between the Kalgoorlie Terrane (and EasternGoldfields Superterrane) to the east and the Youanmi Terrane to thewest.The Mt Alexander Project is prospective for further high‐gradekomatiite‐hosted nickel‐copper‐PGE mineralisation (both greenstoneand granite hosted) and also precious metal mineralisation (i.e.orogenic gold) that is typified elsewhere in the Yilgarn Craton.Drill holeA summary of all information material to theinformationDrill hole collar locations are shown in the maps and tables includedunderstandingoftheexplorationresultsin the body of the relevant ASX releases.includingtabulationofthefollowinginformation for all Material drill holes:• Easting and northing of the drill hole collar•Elevation or RL (Reduced Level – elevationabove sea level in metres) of the drill hole collar• Dip and azimuth of the hole• Down hole length and interception depth• Hole lengthDataInreportingExplorationResults,weightingReported assay intersections are length and density weighted.aggregationaveragingtechniques,maximumand/orSignificant intersections are determined using both qualitative (i.e.methodsminimum grade truncations (e.g. cutting of highgeological logging) and quantitative (i.e. lower cut‐off) methods.grades) and cut‐off grades are usually Material	Criteria	JORC Code explanation	Commentary
for either nickel or copper. For disseminated, blebby and matrix		and should be stated.	For massive sulphide intersections, the nominal lower cut‐off is 2%

Criteria	JORC Code explanation	Commentary
	Where aggregated intercepts incorporate shortlengths of high grade results and longer lengthsof low grade results, the procedure used forsuchaggregation should be stated and some typicalexamples ofsuch aggregationsshould be shownin detail.	Any high‐grade sulphide intervals internal to broader zones ofsulphide mineralisation are reported as included intervals.
		Any disseminated, matrix, brecciated or stringer sulphides with(usually) >1% nickel or copper on contact with massive sulphidemineralisation are grouped with the massive sulphides forcalculating significant intersections and the massive sulphidemineralisation is reported as an including intersection.
	The assumptions used for any reporting ofmetal equivalent values should be clearlystated.	No metal equivalent values are used for reporting explorationresults.
Relationshipbetweenmineralisationwidths andinterceptlengths	These relationships are particularly important inthe reporting of exploration results. If thegeometry of the mineralisation with respect tothe drill hole angle is known, its nature shouldbe reported. If it is not known and only the downhole lengths are reported, there should be aclear statement to this effect.	Assay intersections are reported as down hole lengths. Drill holes areplanned as perpendicular as possible to intersect the target EM platesand geological targets so downhole lengths are usually interpreted tobe near true width.
iagrams	Appropriate maps and sections(with scales) andtabulations of intercepts should be included forany significant discovery being reported. Theseshould include, but not be limited to a planeviewofdrillholecollarlocationsandappropriate sectional views.	A prospect location map, cross section and long section are shownin the body of relevant ASX Releases.
Balanced	Wherecomprehensivereportingofall	Reports on recent exploration can be found in ASX Releases that are
Reporting	ExplorationResultsisnotpractical,representative reporting of both low and highgrades and/or widths should be practiced toavoidmisleadingreportingofExplorationResults.	available on our website at www.stgm.com.au:Theexplorationresultsreportedarerepresentativeofthemineralisation style with grades and/or widths reported in aconsistent manner.
Othersubstantiveexplorationdata	Other exploration data, if meaningful andmaterial, should be reported including (but notlimited to): geological observation; geophysicalsurvey results; geochemical survey results; bulksamples – size and method of treatment;metallurgicaltestresults;bulkdensity,groundwater,geotechnicalandrockcharacteristics;potentialdeleteriousorcontaminating substances.	All material or meaningful data collected has been reported.
Further Work	The nature and scale of planned further work(e.g. tests for lateral extensions or depth	A discussion of further exploration work underway is contained in thebody of recent ASX Releases.
	extensionsorlarge–scalestep–outdrilling).Diagrams clearly highlighting the areasofpossibleextensions,includingthemaingeological interpretations and future drillingareas,providedthisinformationisnotcommercially sensitive.	Further exploration will be planned based on ongoing drill results,geophysical surveys and geological assessment of prospectivity.