ST GEORGE MINING LIMITED — Governance Information 2016

Sep 8, 2016

Rules 4.7.3 and 4.10.31

Appendix 4G

Key to Disclosures Corporate Governance Council Principles and Recommendations

Introduced 01/07/14 Amended 02/11/15

Name of entity

St George Mining Limited

21 139 308 973 30 June 2016

ABN / ARBN Financial year ended:

Our corporate governance statement2 for the above period above can be found at:3

This URL on our website: www.stgm.com.au

The Corporate Governance Statement is accurate and up to date as at [insert effective date of statement] and has been approved by the board.

The annexure includes a key to where our corporate governance disclosures can be located.

Date: 9 September 2016

Sign Here: Sarah Shipway Company Secretary

Under Listing Rule 4.7.4, if an entity chooses to include its corporate governance statement on its website rather than in its annual report, it must lodge a copy of the corporate governance statement with ASX at the same time as it lodges its annual report with ASX. The corporate governance statement must be current as at the effective date specified in that statement for the purposes of rule 4.10.3.

2 "Corporate governance statement" is defined in Listing Rule 19.12 to mean the statement referred to in Listing Rule 4.10.3 which discloses the extent to which an entity has followed the recommendations set by the ASX Corporate Governance Council during a particular reporting period.

1 Under Listing Rule 4.7.3, an entity must lodge with ASX a completed Appendix 4G at the same time as it lodges its annual report with ASX.

Listing Rule 4.10.3 requires an entity that is included in the official list as an ASX Listing to include in its annual report either a corporate governance statement that meets the requirements of that rule or the URL of the page on its website where such a statement is located. The corporate governance statement must disclose the extent to which the entity has followed the recommendations set by the ASX Corporate Governance Council during the reporting period. If the entity has not followed a recommendation for any part of the reporting period, its corporate governance statement must separately identify that recommendation and the period during which it was not followed and state its reasons for not following the recommendation and what (if any) alternative governance practices it adopted in lieu of the recommendation during that period.

3 Mark whichever option is correct and then complete the page number(s) of the annual report, or the URL of the web page, where the entity's corporate governance statement can be found. You can, if you wish, delete the option which is not applicable.

Throughout this form, where you are given two or more options to select, you can, if you wish, delete any option which is not applicable and just retain the option that is applicable. If you select an option that includes "OR" at the end of the selection and you delete the other options, you can also, if you wish, delete the "OR" at the end of the selection.

ANNEXURE – KEY TOCORPORATE GOVERNANCE DISCLOSURES

l reCoGoCoidaionrattrpoevernanceunccommen		hafollowhefullforheholeWed tdaioninttveerecommenwfheiod abohadisclosd …Wetopervevee	hafollowhefullforheWeNOTddaionintttveerecommen4holef theiod abohadisclosd …Wewopervevee
PRINC	IPLE1LAYSOLIDFOUNDATIONSFORMANAGEMENTANDOV–	ERSIGHT
1.1	listd entiholddislosAtyesuce:(a)fhectilesd rsibilitiitsbodtrespeveroanesponesoarddt; aanmanagemenn()bholy rd thebod adttteo tsemarsexpresseservearnhodelegd ttatet.seo managemen	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiatertondinfortiobohectilesduttanman arespeveroan…bilitif obod ad m(ludinnsiinctrespoesourarnanagemengholy rd thebod ad thotatto tsemersexpresseservearnsedelegd t):ateto managemen☐[inslocati]aterton	☐lanatihyhais sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md entid thisexttyweareanernaanageandatiois theforlicableotrecommennree napp
1.2	listd ehold:Antityesu(a)dekeheksbeforiatointinrtaunappropre cce appg aforholttid turidetyperson,orpungwaro secrsadidaforlectiodirdteectcanen,asaor;an(b)videuriholdeith all mrialinfortiotyateprosecrs wmanlevdeheheinitsssicisiont ttposseonreano aonwr orleclecdirttt ot aectnoeor re‐eor.	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageanheforlicabledatiois totrecommennree napp
1.3	listd eholdhah ehAntirittwittyntesuvea wenagreemeacdirdiorivetinhef theirectcutsetuttteroransenexeg omsointnt.appome	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageanfordatiois thelicableotrecommennree napp
1.4	hef alistd eholdbeTntirettycompany secaryoesubledirlyhebod,hroh thehair,llntaecttottaccouarugconadoh thefunf thebod.witctiingttetmarsoproperonoar	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageandatiois theforlicableotrecommennree napp

4 Ifyou have followed all of the Council's recommendations in full for the whole of the period above, you can, if you wish, delete this column from the form and re‐format it.

Goil redaionCoCorattrpoevernanceunccommen		hafollowd thedaioninfullforheholeWettveerecommenwfhed abohadlosd …ioWeisctopervevee	haNOfollowdhedaioninfullforheWeTtttveerecommen4holef theiod abohadisclosd …Wewopervevee
1.5	listd ehold:Antityesu(a)hadivlicyhichludeityincuirtsveaerspows reqemenforhebolevf thebodmid ttt cttearor areanome oaroblebjeforhiedectivinsetmeasuraovesacg genrdivd tllyboh thebjeityctitersano assessannuaovesdhetity's pinhievinhettanenrogressacgm;()fbdisloshalicyit;de tt pcoora summaryoan(c)disloshed of eh rd theingriot tortce as aenaceppeblebjectiforhievindedivitymeasuraovesacg genrersbyhebod olevf thebodmisettt cttearr areanome oar'sindawih thetitydivitylicyditstaccornceenerspoandshiehed ehevinittowtprogressaracgmanr:()hectirtiof md w1trespeveproponsoenanomenonhebod,d ainiorivesitiontcutarsenexepos ancross(hehole onisatiincludinhohetityttwrgaongwenhadefind"se"forhenioivecuttser exese); opurposesr()f the"relevloy" udehe2itityis at er tenanmpernkplacGedelityhetity's mWoEqAct,tostrenruaen"Gdelitydic", adefindEqInintatorecenenruarssedblished udehaAcr ttt.anpun	hefachahadivlicyhalieshitywittt tt wtt ceveaerspoomp…(a):hparagrap☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]atertonf ofd adivitylicyit:ancopyourerspoora summaryo…☐[loc]insatiatertond theble objeforhiedectivinanmeasuravesacg genr…divbyhebod olevf theitymisettt ctteersarr areanome obodindawith odivitylicyd oaraccornceurerspoanurprogressdshiehevintowtaracgm:☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]atertond theforferd ths(c)() o():intioin12anman rereoparagrapr…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md entid thisexttyweareanernaanageandaheforlicabletiois totrecommennree napp
1.6	listd ehold:Antityesu(a)haddislosfordiclly eluariotinveance aprocesspeavagforf thehebod,itsittedtpermanceoarcommesandivduldirdiniectaors; an(b)dislosinlationh ringriod,hehetoorttce,reeaceppewrforluadekehetioin trtapaermanceevan wasunningriodindawih thaorttt preppeaccorncerocess	heluaferd th(a):tiointevan processrereoparagrap…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]atertond theforferd th(b):intioinanman rereoparagrap…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageanfordatiois thelicableotrecommennree napp

l redaCoGoCoiionrattrpoevernanceunccommen		hafollowd thedafullforheholeWeioninttveerecommenwfheiod aboWehadisclosd …topervevee	hafollowdhedafullforheWeNOTionintttveerecommen4f tholeheiod aboWehadisclosd …operveveew
1.7	Alistd entihold:tyesu	fer(a):heluatiod tinhtevan processrereoparagrap…
	(a)halosforlly eluaddisriodictinveance aprocesspeavagheforfditsiorivetcutpermanceosenexes; an()bdislosinlationh ringriod,hehetoorttce,reeaceppewrforluadekehetioin trtapaermanceevan wasunningriodindawih thaorttt preppeaccorncerocess	☐inCoGoStaORrattemtourrpoevernanceen	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen
		☐[inslocati]atertonforfer():d theintiod tinhbanman rereoparagrap…☐inCoGoStaORrattemtourrpoevernanceen	☐lly md ed thisntiexttyweareanernaanageandaheforlicabletiois totrecommennree napp
		☐[inslocati]aterton

CoGoCoil redaionrattrpoevernanceunccommen		fofuforWehallowd thedaioninllheholettveerecommenwfheiod abohadisclosd …Wetopervevee	fofuforWehaNOTllowdhedaioninllhetttveerecommen4holef theiod abohadisclosd …Wewopervevee
PRINCIPL	E2 ‐STRUCTURETHEBOARDTOADDVALUE
2.1	hebod of alistd entihold:Ttyaresu(a)hainatiomihich:ttevea nomn come w()haleahrebef who1ajoritytst ts ae memrs,a momindededirdntectarepenors; an()2is chairedbyindededirntectanpenor,ddislosane:c()hehaf the3ittetrtecr ocomme;()hebef thed4ittetmemrsocomme;an() ahed of eh rd,he5ingriot tortts aenaceppebef thehrohoimmittteettutnumorescome mugheerid ad theindividul adaf thettteponannces obehotint tmemrsasemeegs;or(b)fdohaiitinatiomittteesnovea nomn come,disloshafacdheloyit ettt ats tcenprocessesmpoddrebodionissdhatttassarsuccessues aneonsurehebodhahebalanf skills,iatts tarappropreceoknledgrieindededdivityowe,expencepennceaners,bledishadudit titstietoenaocrges anffecnsibilititivly.respoesee	[f thetitylieswith ph(a):]Iencomparagraphefachahainatiomihatt tt wttee ttevea nomn com…liesh phs() ad():wit12comparagrapn☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiatertond af thehaf theitterteancopyocr ocomme:…☐[inslocati]atertond theforferd ths() ad():intioin45anman rereoparagrapn…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton[f theliesh ph(b):]Ititywitencomparagraphefachadohadinatiomitt tt wttteenovea nomn come an…heloyddrebod sionissttoprocessesweempassaruccessuesdhahebodhahebalanfiatttt ts taneonsurearappropreceokills,knledgdededdivrieinitytosowe,expencepennceaners,bleit tdishaitsdutied rsibilitiffectivly:enaocrges anesponesee☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageandatiois theforlicableotrecommennree napp
2.2	listd entiholdhaddislosbod skillsAtyesuveance aarhef skills addivhahetrixingmiityettt ttt tmasoux onersbodlyhaislookinhieinitsttoarcurrens orgacvebehipmemrs	bod skills mix:atrourar…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanatihyhais sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md entid thisexttyweareanernaanageandaheforlicabletiois totrecommennree napp

Coratrpo	il redaionGoCotevernanceunccommen	hafollowd thedaioninfullforheholeWettveerecommenwfhed abohadlosd …ioWeisctopervevee	hafollowdhedaioninfullforheWeNOTtttveerecommen4holef thed abohadlosd …ioWeiscwopervevee
2.3	listd eholddislosAntityesuce:(a)hef thedirdedbyhebodnsitecttnames oorscorearbeindededirtontectpenors;()f abidirhaintsitionciatioectst,ors anerepo, asson orlathipf thedebedbuheioniinBo2.3typt tresoescrxbodf thehadois oiniitmittt caroponesnoomproseheindedef thedirhef thetecttturpennceoor,nae olathipintsitionciatioioninst,erepo, asson or resf wfiond alanatihyhebodis oesttquann exponoarhadinittopon; an(c)helenh of sicef ehdirttectgervoacor.	hef thedirdedbyhebod tbensitecttnames oorscorearo…dededirinntectpenors:☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiatertond,helicable,heinfortioferd tintanwreappman rereo…h(b):paragrap☐inCoGoStaORrattemtourrpoevernanceen☐[]inslocatiatertond thelenh of sf ehdiricetectangervoacor:…☐inCoGoStaORrattemtourrpoevernanceen☐[]inslocatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen
2.4	f thebod of alistd eholdbeA majorityntityoaresuindededirntectpenors	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageandaheforlicabletiois totrecommennree napp
2.5	hehaf thebod of alistd eholdbeTir ontitycaresuanindededird,inrticlarhold nbehentectottpenoranpau, suhef theCEO otitytsampeersonasen	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[]inslocatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageandaheforlicabletiois totrecommennree napp
2.6	listd eholdhaforduAntiinctityesuvea programngnewfesdirdideiatsiolectorsanprovappropre pronadelopfordirdelopdnitiesntrtuecttovemeoppoorsveanhekills aknleforintainddgded ttmasnowe neeo permheledirffecly.irtivtectroasorsee	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceen☐lly md ed thisntiexttyweareanernaanageandaheforlicabletiois totrecommennree napp
INCIPLPR	3ACHICALLYANSPONSIBLYETETDRE–
3.1	listholAd entid:tyesu(a)hadef cdufordiritsnioctectvea cooonors, serivedloydcutexeasnempees; an(b)loshafdisdeit.e tt ccoora summaryo	f cfdeduit:ctour cooonora summaryo…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen

+See chapter 19 for defined terms

il redaionCoGoCorattrpoevernanceunccommen		hafollowd thedaioninfullforheholeWettveerecommenwfheiod aboWehadisclosd …topervevee	hafollowdhedaioninfullforheWeNOTtttveerecommen4holef thebohalosiod aWediscd …wopervevee
PRINCIPL	E4SAFEGUARDINTEGRITYINCORPORATEREPORTING–
4.1	hebod of alistd ehold:Tntityaresu(a)hadithich:itteveanaucomme w()haleahrebell of who1tst ts ae memrs,amaredirdf whoivejoritycutectnon‐exeorsanamaomindededirdntectarepenors; an()2is chairedbyindededirhoisntectanpenor,whehaf thebod,ir ottnocarddislosance:()3hehaf theittetrtecr ocomme;()helevlificf the4atid eeritt qreanuaons anxpenceobef thedmittememrsocome;an()inlationh ringriod,hebe5toorttreeaceppenumrfhehrohoheimmitttteettuttoescome mugf triod ad theindividul adahettepenannces obehotint tmemrsasemeegs;or(b)ifitdohaditittedisloshate ttesnoveanaucomme,cfacdheloyhait etts ttanprocessesmpindedely verifyd sfegd theintrityfntpenanauaregoludinheforitsingincteorttcorporarepgprocesses,hed rl of thelointtmt aextappennemovaernaditdheatif thedittrotntauoranonoauengagemertnpaer.	[f theliesh ph(a):]Ititywitencomparagraphefachahadithalieshittewittt tt we tt ceveanaucommomp…() a():hs1d2paragrapn☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]atertonf tf td ahehaheitterteancopyocr ocomme:…☐[loc]insatiatertond theforferd ths() ad():intioin45anman rereoparagrapn…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton[f theliesh ph(b):]Ititywitencomparagraphefachadohadititted thett tt wtenoveanaucomme an…loyhadedely vfyd sfegdinerittntprocessesweemppenanauarf oheintrityingincludinhetratorttegourcorpoe repg,forhed rl of thelinttntextprocessesappomeanemovaernaditdhef theditatitrotntrtnauoranonoauengagemepaer:☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐lanatihyhais sinCottratanexponwoourrpoeGoStatemtvernanceen
24.	hebod of alistd ehold,beforheTntiit atytaresuepproves'sfinforfintitycial stcial perid,eivatentsenanmeaanorecefroddelarhaheitsCEO aCFO aatiin tir oinitt,mnconpon,hefinl redsf thehabelyciatitytancoroenveenproperintaindd thahefincial stly witht tatentsmaeananmecomphedadsd gdriantiivettestaa tappropaccoungnranrueanfaif tfinforf tiewhecial pitiod pheroanosn anermanceovd thahehabeford ohebatityinisist tn tenanoponsenmeff rk mldisdinttemt aoasounsysoanagemennernalhichffecly.is oingtivntrratcoowpeee	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[loc]insatiaterton	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen

Coratrpo	il redaionGoCotevernanceunccommen	hafollowd thedaioninfullforheholeWettveerecommenwfhed abohadlosd …ioWeisctopervevee	Wehow	hafollowdhedaioninfullforheNOTtttveerecommen4lef thed abohadlosd …ioWeiscopervevee
4.3	listd ehahahold ehaAntiAGMitstyttttes ansunsurelditdsitsdis ailable tAGMexttteernaauorananvaofroholdelevhestiurityt to tanswerqueonsmsecrsreanditau	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐☐	lanhyhaatiis sinCottratanexponwoourrpoeGoStaORtemtvernanceenlly md ehadoholdntiexttytttweareanernaanageesnol gl mhistind tdatioisanannuaeneraeeg anrecommennheforlicabletotreneapp
INCPRIPL	NCDISCLOSE5MAKETIMELYANDBALAEDURE–
5.1	Alistd entihold:tyesu(a)halicyforlyhrittingwititsvea wenpocompntidislosbligatiodeheListinr tconuouscureonsunglesdRu; an(b)disloshalicyfit.e tt pcoora summaryo	tindisloslianlicyfiour conuouscurecompcepoora summaryo…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐	lanhyhaatiis sinCottratanexponoourrpoewGoStatemtvernanceen
PRINCIPLE6RESPECTTHERIGHTSOFSECURITYHOLDERS–
6.1	Alistd entihold pideinfortioboitself adtyutesurovman anbsiitsinvviaitstoestte.governanceorswe	infortiobod obsiutte:man ausanurgovernanceonour we…☐attmwww.sg.com.au	☐	lanhyhaatiis sinCottratanexponoourrpoewGoStatemtvernanceen
6.2	listd eholddedlemAntisigiminvtyt aestesun anpennorlatfaclitaffecionitivtotee trepsrogramewoay‐wicatioithinvestcommunwnors	hefachafollowhisdatiott tt wterecommenn:…☐inGoStaORCorattemtourrpoevernanceen☐[loc]insatiaterton	☐	lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen
6.3	listd eholddisloshelicid pAntiittye tesucpoesanrocesseshalacfaclitad einirticipatioe ttetspoanncouragepan aetif suriholdetymengs oecrs.	licid pforfaclitad eitiningour poesanrocessesg anncourag…f sholderticipatiotinurit mtypan aeegsoecrs:☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐☐	lanatihyhais sinCottratanexponwoourrpoeGoStaORtemtvernanceenlly md entihadoholdexttytttweareanernaanageesnodicf sholded thisrioetiuritypemengs oecrsandatiois theforlicableotrecommennree napp
6.4	listd ehold gholdeheAntiiveuritiotytyrs tn tesusecopoeivnicatifrod sd cnicatirecceommuonsm,anenommuonshedleclly.tityitsuriistnicto,ttytroenansecregryea	hefachafollowhisdatiott tt wterecommenn:…☐inCoGoStaORrattemtourrpoevernanceen☐[inslocati]aterton	☐	lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen

Coratrpo	il redaionGoCotevernanceunccommen	hafollowd thedaioninfullforheholeWettveerecommenwfhed abohadlosd …ioWeisctopervevee	hafollowdhedaioninfullforheWeNOTtttveerecommen4holef thed abohadlosd …ioWeiscwopervevee
PRINCIPL	E7RECOGNISEANDMANAGERISK–
17.	hebod of alistd ehold:Tntityaresu	[f theliesh ph(a):]Ititywitencomparagrap
	(a)hak,mimiristtettetovea come or comesoverseehf which:eaco	hefachahamimitt tt wttettetoevea come or comes…k thaly wh phs() ad():isit12t coverseeromparagrapn	☐lanatihyhais sinCottratanexponwoourrpoeGoSta
	()haleahrebef who1ajoritytst ts ae memrs,a momindededirdntectarepenors; an	☐inCoGoStaORrattemtourrpoevernanceen	temtvernanceen
	()hadbydededir2is cireinntectanpenor,	☐[inslocati]aterton
	ddislosance:	d af thehaf theitterteancopyocr ocomme:…
	()hehaf the3ittetrtecr ocomme;	☐[loc]insatiaterton
	()hebef theitted4tmemrsocomme;an	() a():d theinfortioferd tinhsd45anman rereoparagrapn…
	() ahed of eh ringriod,he5t tortts aenaceppebef thehrohoimmittteettutnumorescome mughed ad thedivdul adaf theeriinittteponannces o	☐inCoGoStaORrattemtourrpoevernanceen
		☐[loc]insatiaterton
	behotint tmemrsasemeegs;or	():[f thetitylieswith phb]Iencomparagrap
	()bifitdohaisk cmimitttetteesnovea rome or comeshafy(a) abodisloshafacd theatitte ttt assvecn,it eloyforinghetity's risktprocessesmpsoverseeen	fachehadohaisk cmitt tt wttteenovea rome or…hafy(a) ad theloyforitteatitt scommessnprocessesweempk mfrak:ingistoverseeour ranagemenmewor
	frak.ntmanagememewor	☐inCoGoStaORrattemtourrpoevernanceen
		☐[inslocati]aterton
7.2	hebod of thebod shold:Tittearr acomme oaru(a)he's rk mfrak aiewtityistttrevenanagemenmeworleallyisfyitself thait ctinbesttosatts tannuaonueo	hefachabod of thebod rheitteiewtt tts tarr acomme oarev…tity's risk mfrak aleallyttsttoenanagemenmeworannuafylf thabed:isitseit ctinsatts tonueosoun	☐lanhyhaatiis sinCottratanexponwoourrpoeGoStatemtvernanceen
	d;dsounan	☐inCoGoStaORrattemtourrpoevernanceen
	(b)dislosinlationh ringriod,toortce,reeaceppehehehhakelaciewts twsrucarevan pe.	☐[loc]insatiaterton
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PRINCIPL	E8REMUNERATEFAIRLYANDRESPONSIBLY–
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CORPORATE GOVERNANCE STATEMENT FOR THE YEAR ENDED 30 JUNE 2016

The policies and practices developed and implemented by the Board over many years meet or exceed the Principles and Recommendations set out in ASX's 3rd Edition Corporate Governance Council Guidelines (ASX Guidelines).

The statement was approved by the Board of St George Mining Limited and is current as at 9 September 2016. The statement and information identified therein are available on the Company's website at www.stgeorgemining.com.au under the Corporate Governance Section.

	ASX RECOMMENDATION	STATEMENT COMMENTARY	COMPLIANT WITH
			ASX
			RECOMMENDATION
	Principal 1: Lay solid foundations for management and oversight
		A listed entity should establish and disclose the respective roles and responsibility of its board and management
	and how their performance is monitored and evaluated.
1.1	A listed entity should disclose:
(a)	therespectiverolesand	The Directors monitor the business affairs of the	Yes
	responsibilitiesofitsboard	Company on behalf of Shareholders and have adopted
	and management; and	a Corporate Governance Plan which is designed to
		encourageDirectorstofocustheirattentionon
		accountability, risk management and ethical conduct.
		The Board Charter sets out the Board's role, powers
		and duties and establishes the functions reserved for
		theBoardandthosewhicharedelegatedto
		management.
		Due to the scale of the Company's operations and the
		limited number of employees, the Board performs the
		management role.
(b)	thosemattersexpressly	TheCompany'sBoardCharterispostedonthe	Yes
	reservedtotheboardand	Company's website which sets out the role, powers
	thosedelegatedto	and responsibility of the Board.
	management.
1.2(a)	A listed entity should:undertake appropriate checks	Appropriate background checks will be carried out	Yes
	before appointing a person, or	prior to the appointment or nomination for election of
	puttingforwardtosecurity	a director.
	holdersacandidatefor
	election as a director; and
(b)	Provide security holders with	All material information relevant to a decision about	Yes
	all material information in its	each candidate for election will be contained in the
	possessionrelevanttoa	Notice of Meeting.
	decision on whether or not to
	elect or re‐elect a director.
1.3	A listed entity should have a	Directors are not appointed for specific terms and are	Yes
	written agreement with each	subject to rotational requirements for re‐election.
	director and senior executive	Criterion for continued office is effective contribution,

	setting out the terms of theirappointment.	which is regularly reviewed in the evaluation of theBoard's performance.
		Directors have written agreements setting out theterms of their appointment.
1.4	The company secretary of alistedentityshouldbeaccountabledirectlytotheboard, through the chair, onallmatterstodowiththeproperfunctioningoftheboard.	The Board has access to the company secretary, whois accountable directly to the Board, through the Chair,on all matters to do with the proper functioning of theBoard.	Yes
1.5	A listed entity should:
(a)	have a diversity policy whichincludes requirements for theboard or a relevant committeeof the board to set measurableobjectivesforachievinggender diversity and to assessannually both the objectivesand the entity's progress inachieving them;	The Company's Diversity Policy, which is included inSchedule 10 of the Company's Corporate GovernancePlan, recognises the benefits arising from employeeand Board diversity, including a broader pool of highqualityemployees,improvingemployeeretention,accessingdifferentperspectivesandideasandbenefiting from all available talent. Diversity includes,but is not limited to, gender, age, ethnicity and culturalbackground.	Yes
		The Board is responsible for developing measurableobjectives and strategies to meet the Objectives of theDiversityPolicy(MeasureableObjectives)andmonitoringtheprogressoftheMeasureableObjectivesthroughmonitoring,evaluationandreporting mechanisms listed below.
		The Board may also set Measurable Objectives forachievinggenderdiversityandmonitoringtheirachievement.
		TheBoardwillconductallBoardappointmentprocessesin a manner that promotes gender diversity,includingestablishingastructuredapproachforidentifying a pool of candidates, using external expertswhere necessary.
		Due to the scale of the Company's operations and thelimited number of employees, the Company has notyet set Measurable Objectives for achieving genderdiversity.TheCompanywillconsiderestablishingmeasurable objectives as it develops.
(b)	disclosethatpolicyorasummary of it; and	A copy of the Company's Diversity Policy is included inthe Company's Corporate Governance Plan and isavailable on the "Corporate Governance" page of theCompany's website www.stgm.com.	Yes

(c)	disclose as at the end of eachreportingperiodthemeasurableforachievinggenderdiversitysetbytheBoard in accordance with theentity's diversity policy and itsprogresstowardsachievingthem and either;(i) the respective portions of	Due to the scale of the Company's operations and thelimited number of employees, the Company has notyet set Measurable Objectives for achieving genderdiversity.TheCompanywillconsiderestablishingmeasurable objectives as it develops.The Company currently comprises of the following	NoYes
	men and woman on theboard,inseniorexecutivepositionsandacrossthewholeorganisation(includinghowtheentityhasdefined senior executivesfor these purposes;	percentages of females;33% of the Board0% Senior Management40% of the Company's total workforce(i)Due to the Company's stage of development, itdoes not yet have any senior executives apartfrom the Board.
	(ii) if the entity is a 'relevantentity'undertheWorkplaceGenderEquality Act, the entity'smostrecent'GenderEqualityIndicators',asdefined in and publishedunder the Act.	The Company is not a 'relevant entity' under theWorkplace Gender Equality Act.	N/A
1.6(a)	A listed entity should:have and disclose a processforperiodicallyevaluatingtheperformance of the board, itscommitteesandindividualdirectors; and	The Board has adopted a policy to assist in evaluatingtheperformanceofseniorexecutives,whichiscontained in Schedule 6 of its Corporate GovernancePlan (Disclosure ‐ Performance Evaluation).	Yes
(b)	disclose, in relation to eachreportingperiod,whether aperformanceevaluationwasundertaken inthe reportingperiod in accordance with thatprocess.	The Company will put a formal process in place as andwhen the Company's level of operations justifies it.	No
1.7(a)	A listed entity should:have and disclose a processforperiodicallyevaluatingtheperformanceofitsseniorexecutives; and	Due to the Company's stage of development, it doesnot yet have any senior executives apart from theBoard.However,iftheCompanyappointsseniorexecutives in the future, the Board will monitor theperformanceofthoseseniorexecutivesincludingmeasuring actual performance of senior executivesagainst planned performance.	Yes
(b)	disclose, in relation to eachreportingperiod,whether aperformanceevaluationwasundertaken inthe reporting	See 1.7 (a)	N/A

period in accordance with that
process.Principal 2: Structure of the board to add value
A listed entity should have a board of an appropriate size, composition, skills and commitment to enable it to
discharge its duties effectively.
2.1The board of a listed entityshould
(a)have a nomination committeewhich;	Given the current size and structure of the Board, theBoard has not established a separate nominationcommittee.	No
(i)hasatleastthreemembers, a majority ofwhom are independent;and	See 2.1 (a).	N/A
(ii)ischairedbyanindependent director	See 2.1 (a).	N/A
and disclose:(iii)thecharterofthecommittee;	The charter of the nomination committee is containedin Schedule 5 of the Company's Corporate GovernancePlan and is available on the "Corporate Governance"page of the Company's website www.stgm.com.	Yes
(iv)themembersofthecommittee	See 2.1 (a).	N/A
(v)asattheendofeachreportingperiod,thenumberoftimesthecommitteemetthroughouttheperiodandtheindividualattendancesofthosemembersatthosemeetings; or	See 2.1 (a).	N/A
(b)ifitdoesnothaveanominationcommittee,disclosethatfactandtheprocessesitemployeestoaddressboardsuccessionissues and to ensure that theboardhastheappropriatebalance of skills, knowledge,experience,independenceand diversity to enable it todischargeitsdutiesandresponsibility effectively.	Untilanominationcommitteeisestablished,theBoardwillundertaketheobligationsofthenomination committee in connection with evaluatingthe performance of senior executives in accordancewith Schedule 6 of its Corporate Governance Plan.	Yes
2.2A listed entity should have anddisclose a board skills matrixsetting out the mix ofskills anddiversitythattheboard	The Board has a skills matrix covering the following keyareas of knowledge and experience:Geology	Yes

	currently has or is looking to	Project Development
	achieve in its membership.	Health, Safety and Environment
		CommercialLegal
		Finance (Accounting)
		WhenaBoardvacancyoccurs,theNomination
		Committee identifies the particular skills, diversity,experience and expertise that will best complement
		Board effectiveness, and then undertakes a process to
		identify candidates who meet those criteria.
2.3	A listed entity should disclose:
(a)	thenamesofthedirectors	TheBoardconsidersSarahShipwaytobean	Yes
	considered by the board to be	independent director.
	independent directors;
(b)	if a director has an interest,	TheBoarddistinguishesbetweentheconceptof	Yes
	position,associationor	independence, and the issues of conflict of interest or
	relationship described in Box	material personal interests which may arise from time
	2.3 but the board is of theopinionthatitdoesnot	to time. Wherever there is an actual or potentialconflict of interest or material personal interest, the
	compromisethe	Board's policies and procedures ensure that:
	independenceofthe
	directors, the nature of theinterest, position, association	the interest is fully disclosed and the disclosure isrecorded in the Board minutes;
	or relationship in question and	therelevantdirectorisexcludedfromall
	anexplanationofwhythe	considerations of the matter by the Board; and
	board is of that opinion; and	the relevant director does not receive any segment
		of the Board papers or other documents in whichthere is any reference to the matter.
(c)	the length of service of each	The name, skills and experience of the directors in	Yes
	director.	office at the date of this Statement, and the period ofoffice of each director, are set out in the Annual
		Report.
2.4	A majority of the board of alistedentityshouldbe	The Company's Corporate Governance Plan outlinesthat the majority of the Board will be comprised of	No
	independent directors	non‐executive directors, and where practical, at least
		50% of the Board will be independent. However, the
		Board considers that the Company is not currently of
		a size, nor are its affairs of such complexity, to justifythe expense of an appointment of a majority of
		independent directors. The current Board structure
		presentlyconsistsofanexecutivechairman,an
		executive director and one non‐executive director.
		The Board believes that each of the Directors can
		make,anddomake,qualityandindependent
		judgements in the best interests of the Company. Any
		Director who has a conflict of interest in relation to a

	particular item of business must declare their conflict
	and abstain from voting or participating in Board
	deliberations to which a conflict of interest relates.
2.5 the chair of the board of a listed	Mr John Prineas is the Executive Chairman and is a not	No
entityshouldbean	an Independent Director.
independentdirectorand,in
particular, should not be the	The Company's Corporate Governance Plan provides
same person as the CEO of the	that the Chairman, where practical, should be a non‐
entity.	executive Director.
	The Board considers that the Company is not currently
	of a size, nor are its affairs of such complexity, to
	requireanindependentChairman.Thiswillbe
	reviewed as the Company develops.
2.6 A listed entity should have a	The Board provides an appropriate induction program	Yes
programforinductingnew	fornewdirectors,which includesonsitevisits to
directorsandprovide	operations.
appropriateprofessional
development opportunities fordirectorstodevelopand	Directors have available to them opportunities forprofessional development.
maintaintheskillsand
knowledge needed to perform
theirroleasdirectors
effectively.
Principle 3: Act ethically and responsiblyA listed entity should act ethically and responsibly.
3.1 A listed entity should:
(a) have a code of conduct for its	The Company's Code of Conduct, which is included in	Yes
directors, senior executive and	Schedule 2 of the Company's Corporate Governance
employees; and	Plan, aims to encourage the appropriate standards of
	conduct and behaviour of the directors, officers and
	employees of the Company.
(b) disclose that code or a summary	A copy of the Company's Code of Conduct is contained	Yes
of it.	in the Company's Corporate Governance Plan and is
	available on the "Corporate Governance" page of the
	Company's website, www.stgm.com.
Principle 4: Safeguard integrity in corporate reporting
	A listed entity should have formal and rigorous processes that independently verify and safeguard the integrity of
its corporate reporting.
4.1 theboardofalistedentityshould:
(a) have an audit committee which:	The Board considers that the Company is not currently	No
	of a size, nor are its affairs ofsuch complexity to justify
	the formation of separate or special committees atthis time.

(i)	hasatleastthreemembers, all of whom arenon‐executivedirectorsand a majority of whomare independent directors;and	See 4.1 (a)	N/A
(ii)	ischairedbyanindependent director, whoisnotthechairoftheboard,	See 4.1 (a)	N/A
	and disclose:
	(iii) thecharterofthecommittee;	A formal Audit and Risk Committee Charter has beenadoptedbytheCompany,whichiscontainedinSchedule 3 of the Company's Corporate GovernancePlan.	Yes
	(iv) the relevant qualificationsandexperienceofthemembersofthecommittee; and	See 4.1 (a)	N/A
(v)	inrelationtoeachreportingperiod,thenumberoftimesthecommitteemetthroughout the period andthe individual attendancesof the members at thosemeetings; or	See 4.1 (a)	N/A
(b)	if it does not have an auditcommittee,disclosethatfact and the processes itemploysthatindependentlyverifyandsafeguard the integrity ofitscorporatereporting,including the processes fortheappointmentandremovaloftheexternalauditor and the rotation ofthe audit engagement.	TheBoardasawholeisabletoaddressthegovernance aspects of the full scope of the Company'sactivities and to ensure that it adheres to appropriateethicalstandards.Inparticular,thefullBoardconsiders those matters that would usually be theresponsibility of an audit committee and a nominationcommittee. The Board considers that, at this stage, noefficiencies or other benefits would be gained byestablishing a separate audit committee or a separatenomination committee.	Yes
4.2 Thethat,and	boardofalistedentityshould, before it approves theentity'sfinancial statementsfora financial period, receive fromits CEO and CFO a declarationintheiropinion,thefinancial records of the entityhave been properly maintainedthatthefinancialstatementscomplywiththeappropriateaccountingstandards and give a true and	The Board will seek the relevant assurance from thechief executive officer and chief financial officer (ortheir equivalents) at the relevant time.	Yes

fairviewofthefinancialpositionandperformanceofthe entity and that the opinionhas been formed on the basis ofasoundsystemofriskmanagementandinternalcontrolwhichisoperatingeffectively.
4.3 A listed entity that has an AGMshould ensure that its externalauditor attends its AGM and isavailable to answer questionsfrom security holders relevantto the audit.	The senior engagement partner (or hisrepresentative)oftheCompany'sexternalauditor,StantonsInternational, attends the Company's annual generalmeeting and is available to answer questions fromshareholders about the audit.The Chairman advises the shareholders of this at thecommencement of each annual general meeting.	Yes
Principal 5: Make timely and balanced disclosure.
	A listed entity should make timely and balanced disclosure of all matters concerning it that a reasonable person
	would expect to have a material effect on the price or value of its securities.
5.1 A listed entity should
(a) have a written policy forcomplying with its continuousdisclosure obligations underthe Listing Rules; and	The Company's Continuous Disclosure Policy, which iscontained in Schedule 7 of the Company's CorporateGovernancePlan,isdesignedtoensurethecompliance with ASX Listing Rule disclosure.	Yes
(b) disclose that policy or asummary of it.	A copy of the Company's Continuous Disclosure Policyis contained in the Company's Corporate GovernancePlan and is available on the "Corporate Governance"page of the Company's website, www.stgm.com.	Yes
Principle 6: Respect the rights of security holders
facilities to allow them to exercise those rights effectively.	A listed entity should respect the rights of its security holders by providing them with appropriate information and
6.1 A listed entity should provideinformation about itself and itsgovernance to investors via itswebsite.	TheCompanyhasadoptedaShareholderCommunications Strategy, contained in Schedule 11 ofthe Company's Corporate Governance Plan, whichaims to ensure that the shareholders of the Companyare informed of all major developments affecting theCompany's state of affairs.	Yes
6.2 A listed entity shoulddesignandimplementaninvestorrelations program to facilitateeffectivetwo‐waycommunication with investors.	Shareholdersareabletosendandreceivecommunicationsto/fromStGeorgeMiningelectronically.	Yes
6.3A listed entity should disclosethe policies and processes ithas in place to facilitate and	Shareholdersareencouragedtoparticipateinshareholdermeetingstoensureahighlevelofaccountability and identification with the Company's	Yes

encourageparticipationatmeetings of security holders.	strategies and goals. Important issues are presentedto shareholders as separate resolutions.
	Shareholders who are unable to attend a shareholdermeeting may vote by appointing a proxy using theform included with the Notice of Meeting. Further,shareholders are also invited to submit questions inadvanceoftheshareholdermeetingsothattheCompany can ensure those issues are addressed at themeeting.
6.4Alistedentityshouldgive	Shareholdershavetheoptiontoreceive	Yes
security holders the option to	communications from, and send communications to,
receive communications from,	the Company and its share registry.
and send communications to,theentityanditssecurity
registry electronically.
Principle 7: Recognise and manage risk
	A listed entity should establish a sound risk management framework and periodically review the effectiveness of
that framework.
7.1 Theboardofalistedentityshould:
(a)haveacommitteeorcommitteestooverseerisk,	Given that the Company's stage of development, andgiven the current size and structure of the Board, the	No
each of which:	Board has not established a separate risk committee.
(i) hasatleastthreemembers,amajorityofwhomareindependentdirectors; and	See 7.1 (a)	N/A
(ii) ischairedbyanindependent director,	See 7.1 (a)	N/A
and disclose
(iii)thecharterofthecommittee;	A copy of the Company's Audit and Risk CommitteeCharteriscontainedintheCompany'sCorporateGovernance Plan and is available on the "CorporateGovernance"pageoftheCompany'swebsite,www.stgm.com.	Yes
(iv)themembersofthecommittee; and	See 7.1 (a)	N/A
(v) asattheendofeachreportingperiod,thenumberoftimesthecommitteemetthroughout the period andthe individual attendancesof the members at thosemeetings; or	See 7.1 (a)	N/A

(b)if it does not have a riskcommittee or committeesthatsatisfy(a)above,disclose that fact and theprocessesitemploysforoverseeing the entity's riskmanagement framework.7.2 The Board or a committee of	TheBoardwillcarryoutthedutiesoftheriskcommittee in accordance with the formal terms ofreferencesetoutintheCompany'sCorporateGovernance Plan.	Yes
the board should:
(a)reviewtheentity'sriskmanagement framework atleastannuallytosatisfyitself that it continues to besound; and	TheBoardisresponsiblefordeterminingtheCompany's"riskprofile"andisresponsibleforoverseeing and approving risk management strategyand policies, internal compliance and internal control.	Yes
(b)disclose, in relation to eachreporting period, whethersuchareviewhastakenplace.	The Board considers the entity's risk at each Boardmeeting.	Yes
7.3 A listed entity should disclose:
(a)if it has an internal auditfunction, how the functionis structured and what roleit performs; or	The Board considers that the Company is not currentlyof a size, nor are its affairs of such complexity to justifythe formation of separate internal audit committee.	No
(b)ifitdoesnothaveaninternalauditfunction,that fact and the processesit employs for evaluatingand continually improvingthe effectiveness of its riskmanagement and internalcontrol processes.	See 7.3 (a)TheRiskManagementpolicy,Schedule8oftheCompany's Corporate Governance Plan, sets out theCompany'sriskmanagementreviewandinternalcompliance and control procedure.	N/A
7.4 A listed entity should disclosewhetherithasanymaterialexposuretoeconomic,environmentalandsocialsustainabilityrisksand,ifitdoes,howitmanagesorintends to manage those risks.	TheCompanyidentifiesandmanagesmaterialexposurestoeconomic,environmentalandsocialsustainability risks in a manner consistent with its RiskManagementpolicysetoutintheCorporateGovernance Plan.	Yes
Principal 8: Remunerate fairly and responsibly
	A listed entity should pay director remuneration sufficient to attract and retain high quality directors and design itsexecutive remuneration to attract, retain and motivate high quality senior executives and to align their interests
with the creation of value for security holders.8.1 Theboardofalistedentityshould:
(a)have a remunerationcommittee which:	Given that the Company is in its early stages ofdevelopment and given the current size and structureof the Board, the Board has not established a separateremuneration committee.	No

(i)has at least threemembers, a majorityof whom areindependent directors;and	See 8.1 (a)	N/A
(ii) ischairedbyanindependent director,	See 8.1 (a)	N/A
and disclose:
(iii)the charter of thecommittee;	A formal Remuneration Committee Charter has beenadoptedbytheCompany,whichiscontainedinSchedule 4 of the Company's Corporate GovernancePlan.	Yes
(iv)the members of thecommittee; and	See 8.1 (a)	N/A
(v)as at the end of eachreportingperiod,thenumber of times thecommitteemetthroughout the periodandtheindividualattendancesofthemembersatthosemeetings; or	See 8.1 (a)	N/A
(b)if it does not have aremuneration committee,disclose that fact and theprocesses it employs forsetting the level andcomposition ofremuneration for directorsand senior executives andensuring that suchremuneration isappropriate and notexcessive.	Until a Remuneration Committee is established, theBoard will carry out the duties of the RemunerationCommittee in accordance with the formal terms ofreferenceoftheRemunerationsetoutintheCompany's Corporate Governance Plan.	Yes
8.2 Alistedentityshouldseparately disclose its policiesandpracticesregardingtheremuneration of non‐executivedirectors and the remunerationofexecutivedirectorsandother senior executives.	ExecutiveDirectorsremunerationpackagesmaycomprise of:•fixed salary;•performance based bonuses;•participation in any share/option scheme; and,•statutory superannuation.Independentnon‐executivedirectorsreceivefixeddirectors fees only, and do not participate in anyperformance‐basedremuneration.Fixeddirector'sfees may be paid in the form of cash, share options or	Yes

	a combination of both. Share options are issued onsimilar terms to previous issues by the entity and areconsideredtobeinlieuofcash,notbasedonperformance of the entity.Fullremunerationdisclosure,includingsuperannuation entitlements have been included inthe Director's Report and will be provided by theCompany in its future annual reports.
8.3 A listed entity which has anequity‐basedremunerationscheme should:
(i)have a policy on whetherparticipants are permittedto enter into transactions(whether through the useofderivativesorotherwise) which limit theeconomicriskofparticipatinginthescheme; and	The Board, in lieu of the Remuneration Committee, isresponsibleforreviewingrecommendationswithrespects to issues under the Company's EmployeeShare Plan. Directors approve issues or granted underthe plans only after being satisfied that this is inaccordance with the terms of shareholders' approval.	Yes
(ii)disclose that policy or asummary of it.	Participants in the scheme must not enter into anytransaction which would have the effect of hedging orotherwise transferring to any other person the risk ofany fluctuation in the value of any unvested equityinterest.	Yes