ST GEORGE MINING LIMITED — Capital/Financing Update 2021

Nov 30, 2021

1 December 2021

SEISMIC RESULTS UNLOCK STAND-OUT TARGETS AT MT ALEXANDER PROJECTHIG

HIGHLIGHTS

• Seismic survey has identified a large target down-dip of the shallow high-grade nickelcopper sulphide mineralisation discovered at the Investigators Prospect
• The geophysical signature recorded in the seismic survey for the new large target is the same as recorded for the massive nickel-copper sulphides intersected at shallow depths
• New large target has a dip-extent of more than 450m, representing a priority target for the potential discovery of a large-scale Ni-Cu-PGE deposit
• The seismic data has mapped the down-dip continuation of the complex intrusive and fault structures across the survey area, providing valuable data for exploration targeting at deeper levels of the large, high-grade mineral system at Mt Alexander
• Modelling and interpretation of the seismic survey data is ongoing with a number of additional targets being assessed

Growth-focused Western Australian nickel company St George Mining Limited (ASX: SGQ) ("St George" or "the Company") is pleased to announce significant results from the seismic survey recently completed at its flagship high-grade Mt Alexander Project, located in the north-eastern Goldfields.

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

"We are delighted with the results of the first-ever seismic survey at Mt Alexander which has delivered not only a breakthrough in our understanding of the complex intrusive system at Mt Alexander but also an outstanding new target for a potential massive sulphide deposit.

"Our systematic exploration over the past year has been primarily focused on testing the deeper areas at Mt Alexander to build on the four shallow high-grade nickel-copper sulphide discoveries already made across more than a 5.5km east-west strike length of the Cathedrals Belt. The geological thinking is that if the system is that long, it must also be deeper than the shallow mineralisation identified.

"The mineralisation we have at Mt Alexander is unique – the rare combination of high-grade nickel, copper, cobalt and platinum group metals is not seen anywhere else in Australia. Our challenge is to discover a large deposit of this kind of mineralisation.

"Accordingly, we are very excited with the new, large target identified by the seismic data. The new target is located down-dip from the shallow massive sulphides drilled at Investigators, and has seismic properties consistent with those shallow massive sulphides.

"This is an absolutely compelling target for a potential major discovery."

SEISMIC SURVEY – EXPLORATION POTENTIAL AT DEPTH IS CONFIRMED

The first-ever seismic survey at the Cathedrals Belt was carried out during September. Three north-south orientated 2D seismic lines approximately 1km apart were completed over a section of the West End and Investigators Prospects.

Breakthrough results with a new priority target:

The seismic survey has successfully mapped the complex intrusive structures at Mt Alexander in all three lines. The main Cathedrals Belt structure is clearly seen in the data as continuing down-dip to the north.

This is consistent with our geological model, which interprets this structure – already confirmed by drilling as being highly mineralised at shallow depths – as dipping to the north-northwest with potential for massive sulphides to be present down-dip of the shallow nickel-copper sulphides already discovered.

Modelling and interpretation of the new seismic data have identified a large target along the down-dip continuation of the Cathedrals structure at depths yet to be explored. The target has the same reflective properties as the known shallow massive sulphides.

Significantly, there are no other rocks known to be present in the Cathedrals Belt that could record a similar seismic recording to massive sulphides.

The target is modelled in 2D with a dip-extent of more than 450m. The east-west strike length and thickness cannot yet be modelled due to the 2D nature of the survey.

The target dips to the north-northwest, consistent with the dip of the host structure, and lies within Exploration Licence E29/548 (100% St George). The target is located approximately 800m below surface, see Figure 1.

Figure 1 – cross section (looking west) showing the structures mapped by the most easterly line (Line 1) in the seismic survey. The previous shallow drilling at Investigators is shown with modelled intrusives (yellow) as well as the new target down-dip of the shallow massive sulphides at Investigators. The trace of the planned hole to test the seismic target is also shown.

Drill testing of this target has been prioritised for late next month, being the earliest opportunity to secure a drill rig. Logistical constraints mean there is insufficient time to drill this target prior to Christmas.

Additional structures parallel to the Cathedrals Belt have also been observed in the seismic data. Four north-northwest dipping structures are mapped – one to the south of the Cathedrals Belt and another three to the north.

The mapping of these structures is limited to the survey area only and further seismic surveys are being designed to cover the full extent of the east-west strike of the Cathedrals Belt.

Interestingly, another three structures dipping to the south have also been noted. The significance of these structures needs further investigation. The intersection of the south dipping structures with the north dipping structures could be a trap site for sulphide mineralisation. These conceptual targets are highlighted in Figure 1.

Interpretation of these additional structures is continuing and anticipated to define further targets for drill testing.

Technical background on seismic: A seismic survey uses sound waves to collect information about the location and characteristics of geological structures and rocks beneath the Earth's surface. The data collected is used to produce maps of structures that can assist in identifying areas where mineral deposits may be found.

The survey involves acoustic sound signals being transmitted into the Earth's surface, which reflect off the various geological structures and rock types. The returning sound waves are recorded by microphones at surface along a path referred to as a seismic line.

The reflective signals of sound waves vary between different rock types, as does the velocity of the sound waves through different rock types.

For example, the reflector signals of sulphides and associated greenstones – which are relatively dense rocks – are generally stronger than those in granite rocks, making seismic highly suitable for the Mt Alexander geology.

Seismic at Mt Alexander: The three seismic lines, for almost 12 lineal kilometres, completed at Mt Alexander have collected data up to 2,000m below surface across a 3km east-west strike.

The north-south lines commenced to the south of the east-west Cathedrals Belt and continued north into Exploration Licence 29/548 (100% St George) where underexplored structures that are oriented parallel to the Cathedrals Belt are situated.

The intrusive-host structure at the Cathedrals Belt is interpreted from drill hole data to dip to the northnorthwest at 40 degrees.

The seismic data shows that the Cathedrals Belt structure continues in the down-dip direction into E29/548 (100% St George), with the new large target located within that tenement; see Figure 2.

Line 1 of the seismic survey was completed over an area with extensive drilling at Investigators. The type of rocks intersected included massive nickel-copper sulphides, mafic rocks and granite. The drill hole data for these various intersections provides a reference point for interpreting the seismic recordings.

Encouragingly, the reflective properties at the new target are consistent with the reflective properties of the known massive sulphides identified from existing drill core.

Figure 2 – map (against magnetic RTP 1VD) showing the completed seismic survey lines (yellow) as well as the structures delineated by the seismic survey and the new seismic target (interpreted position projected at surface).

DRILLING PROGRAMME

Table 1 shows details for drill holes completed or commenced in the current diamond drill programme.

Hole ID	Prospect	East	North	EOHDepth	Dip	AZI	Target/Comments
MAD203	Investigators	231052	6806719	350.3	-70	177	Step-out from MAD199discovery
MAD204	West End	230377	6806746	512.3	-70	172	81,000 S conductor downdip of MAD202
MAD205	West End	230542	6807019	630*	-70	172	Large conductor down-dipof MAD200

Table 1 – details of drill holes for the deeper diamond drill programme (* MAD205 is in progress).

MAD203: This hole was drilled halfway between MAD199 and MAD173, both of which intersected massive nickel-copper sulphides.

MAD203 was completed to downhole depth of 350.3m and intersected intrusive-style mafics from 277.35m to 278.1m downhole. The balance of the hole intersected granite rocks. It appears that a fault has disrupted the continuity of mineralisation between MAD199 and MAD173. A downhole EM (DHEM) survey will be completed in MAD203 to search for any conductive material around the hole.

MAD204: This hole targeted an area 50m down-dip of the 81,000 Siemens off-hole conductor identified from the DHEM survey in MAD202.

Initial attempts to drill this hole had to be abandoned when drill rods became stuck in the hole when it was at 86.5m downhole. The second attempt to drill the hole was successful with the hole completed to 512.3m downhole.

The hole intersected a thick section of the intrusive-host structure with 57.7m of intrusive-style maficultramafic from 425.1m to 482.8m. The balance of the hole intersected granite. No sulphide mineralisation was observed in the mafics.

A DHEM survey will be completed in MAD204 to search for conductive material around the hole. The DHEM survey is expected to look up-dip towards the 81,000 Siemens conductor and provide additional data to enhance modelling of this target.

MAD205: This hole is targeting a large 250m-strike off-hole conductor identified from the DHEM survey in MAD200. The conductor has low conductivity and is interpreted to potentially be a vector to nickel-copper sulphide deposits down-dip and down-plunge from MAD200.

The drill hole is currently approximately 390m downhole and expected to be completed before the pause for drilling over the Christmas break. MAD205 will be the final hole to be drilled in 2021.

Figure 3 – plan view map of West End and Investigators (against gravity data) showing new DHEM conductors, current drill holes and prior drilling. Gravity highs are shown by warmer colours (white, red and yellow). High density massive sulphides and their host rocks will typically present as gravity highs. Less dense material or cover are represented by cooler colours (blues and purples).

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

Geological logging is based on visual interpretations. This is preliminary in nature and a conclusive determination of the rock types and any metal values will be confirmed when laboratory assays are available.

A DHEM survey crew is scheduled to arrive at site in the coming days to complete surveys in the abovementioned holes as well as a number of reverse circulation holes completed at regional targets – see our ASX Release dated 13 September 2021 Drilling of New Targets at Mt Alexander for further details of these targets.

2022 Drilling: A diamond drill rig has been secured for the 2022 drill programme that will focus initially on testing the new high-priority seismic targets.

The rig from DDH1 Drilling is scheduled to arrive at Mt Alexander in late January 2022.

COVID-19:

St George continues to manage its operations in compliance with COVID-19 regulations issued by State and Commonwealth authorities. We proactively manage drilling and other field programmes to protect the health and safety of our team and service providers.

Border restrictions in Western Australia and elsewhere have impacted on the movement of personnel for drill rig crews, which is constraining the availability of drill rigs. St George is in close contact with its drilling contractors to best manage access and continuity to drilling services.

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 six granted exploration licences – E29/638, E29/548, E29/962, E29/954, E29/972 and E29/1041 – which are a contiguous package. A seventh granted exploration licence – E29/1093 – is located to the south-east of the core tenement package.

The Cathedrals, Stricklands, Investigators and Radar 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. All other Project tenements are owned 100% by St George.

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

For further information, please contact: John Prineas Executive Chairman St George Mining Limited +61 411 421 253 john.prineas@stgm.com.au

Peter Klinger Media and Investor Relations Cannings Purple +61 411 251 540 pklinger@canningspurple.com.au

Competent Person Statement:

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves for the Mt Alexander Project 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
Samplingtechniques	Nature and quality ofsampling (eg cut channels,random 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.	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. Samples are collected using cone or rifflesplitter. Geological logging of RC chips is completed at site withrepresentative chips being stored in drill chip trays.
		DHEM Surveying: The surveys were conducted using the DigiAtlantissystem and VTX‐100 transmitter. The readings were recorded at 5mintervals with 1m infill down hole. The surveys used 400 x 400m loopsorientated to magnetic north.
		Gravity Surveying: A ground gravity survey was completed by AtlasGeophysics. The following primary instrumentation was used foracquisition of the data;
		‐Scintrex CG‐5 Autograv Gravity Meter (accuracy <0.02mGal)‐CHC Nav i70+ GNSS Rover Receiver‐CHC Nav i70+ GNSS Base Receiver‐Garmin GPS receivers for navigation
		Gravity surveys are used to detect density contrasts which may berelated to the underlying lithology and rock types, alteration ofminerals or mineralisation.
		Seismic: The surveys were conducted using the Aram Aries 1instrument with an accelerated weight drop and picked up by thesercel SM‐24 Geophone sensors.
	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 deviations

Criteria	JORC Code explanation	Commentary
		of the hole from the planned dip and azimuth. The drill‐hole collarlocations are recorded using a hand‐held GPS, which has an accuracyof +/‐ 5m.
	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 diameter 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, and

Criteria	JORC Code explanation	Commentary
		drill techniques are adjusted accordingly, and if possible, these zonesare predicted from the geological modelling.
	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 preparation	RC Sampling: Sample preparation for RC chips follows a standardprotocol.
	technique.	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 or	A 25‐50gram sample will be fire assayed for gold, platinum andpalladium, using a minimum detection value of 1ppb for gold is 1ppband 0.5ppb for platinum and palladium.
	total.	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	DHEM: The surveys were conducted using the DigiAtlantissystem andVTX‐100 transmitter. The readings were recorded at 5m intervalswith 1m infill down hole. The transmitter produced 96amps andrecorded at a frequency of 0.5Hz.
	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.
		Gravity: A Scintrex CG‐5 Autograv Gravity Meter was used for dataacquisition which has an accuracy of <0.02 mGal
		Elevation information was captured using CHC Nav i70+ GNSSreceivers with an accuracy of <2m.
	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.

Criteria	JORC Code explanation	Commentary
	The use of twinned holes.	No twinned holes have been planned for the current drillprogramme.
	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 MT/AMT stations have been located and pegged usinga DGPS 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.
		The Gravity data was positioned using CHCi70+ DGPS receiversoperating in kinematic mode.
		Seismic survey: all stations were located using NAVCOM DGPS surveyequipment. Vibration source points readings were taken every 10malong the lines, with receiver nodes at 5m spacing along the lines for1,944 data collection points and a total of 12 lineal km were traversedto collect the 2D Seismic data set
	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.
		The gravity data was collected at 25m station spacings.
	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.
		Seismic:Threenorth‐southorientedlinesapproximatelyperpendicular to the strike of known hoststructures of the Cathedralsbelt were completed. Lines were spaced an average of 1.2km apart.The length of lines were designed to allow imaging of deep structuresto approximately 1.5km depths.

Criteria	JORC Code explanation	Commentary
	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 acertified 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.
		Results of the Seismic dataset was processed and interpretated byRock Solid Seismic Pty Ltd with assistance from SGQ geologists.

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

Criteria	JORC Code explanation	Commentary
MineralTenement andLand Status	Type, name/reference number, location andownership including agreements or materialissues with third partiesincluding joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or nationalpark and environmental settings.	The Mt Alexander Project is comprised of six granted ExplorationLicences(E29/638,E29/548,E29/954,E29/962,E29/972andE29/1041). Tenement E29/638 is held in Joint Venture between StGeorge (75% interest) and Western Areas (25% interest). E29/638and E29/548 are also subject to a royalty in favour of a third partythat is outlined in the ASX Release dated 17 December 2015 (asregards E29/638) and the ASX release dated 18 September 2015 (asregards E29/548).
	The security of the tenure held at the time ofreporting along with any known impedimentstoobtaining a licence to operate in the area.	No environmentally sensitive sites have been identified on thetenements. A registered Heritage site known as Willsmore 1 (DAAidentification 3087) straddles tenements E29/548 and E29/638. Allfive tenements are in good standing with no known impediments.
ExplorationDone by OtherParties	Acknowledgment and appraisal of explorationby other parties.	Exploration on tenements E29/638 and E29/962 has been largelyfocused on the discovery of komatiite‐hosted nickel sulphides withinthe Mt Alexander Greenstone Belt. Exploration in the northernsection of E29/638 (Cathedrals Belt) and also limited exploration onE29/548 has been for mafic/ultramafic intrusion related Ni‐Cu‐PGEsulphides. No historic exploration has been identified on E29/954 orE29/972.
		Mafic‐Ultramafic intrusion related high grade nickel‐copper‐PGEsulphides were discovered at the Mt Alexander Project in 2008.Drilling was completed to test co‐incident electromagnetic (EM) andmagnetic anomalies associated with nickel‐PGE enriched gossans inthe northern section of current tenement E29/638. The drillingidentified high grade nickel‐copper mineralisation in granite‐hostedand East‐West orientated ultramafic units and the discovery wasnamed the Cathedrals Prospect.
Geology	Deposit type, geological setting and style ofmineralisation	The Mt Alexander Project is at the northern end of a westernbifurcation of the Mt Ida Greenstones. The greenstones are bound tothe west by the interpreted Ida Fault, a significant Craton‐scalestructure that marks the boundary between the Kalgoorlie Terrane(and Eastern Goldfields Superterrane) to the east and the YouanmiTerrane to the west.
		The Mt Alexander Project is prospective for further high‐grade nickel‐mineralisation (both komatiite and mafic‐ultramafic intrusive hosted)and also precious metal mineralisation (i.e. orogenic gold) that istypified elsewhere in the Yilgarn Craton.

Criteria	JORC Code explanation	Commentary
Drill holeinformation	A summary of all information material to theunderstandingoftheexplorationresultsincludingtabulationofthefollowinginformation 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 length	Drill hole collar locations are shown in the maps and tables includedin the body of the relevant ASX releases.
Dataaggregationmethods	InreportingExplorationResults,weightingaveragingtechniques,maximumand/orminimum grade truncations (e.g. cutting of highgrades) and cut‐off grades are usually Materialand 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 matrixsulphide intersections the nominal lower cut‐off for nickel is 0.3%.
	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.
	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.
BalancedReporting	WherecomprehensivereportingofallExplorationResultsisnotpractical,representative reporting of both low and highgrades and/or widths should be practiced toavoidmisleadingreportingofExplorationResults.	Reports on recent exploration can be found in ASX Releases that areavailable 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.

Criteria	JORC Code explanation	Commentary
Further Work	The nature and scale of planned further work(e.g. tests for lateral extensions or depthextensionsorlarge–scalestep–outdrilling).Diagrams clearly highlighting the areasofpossibleextensions,includingthemaingeological interpretations and future drillingareas,providedthisinformationisnotcommercially sensitive.	A discussion of further exploration work underway is contained in thebody of recent ASX Releases.Further exploration will be planned based on ongoing drill results,geophysical surveys and geological assessment of prospectivity.