St-Georges Eco-Mining Corp. — Capital/Financing Update 2021

Dec 24, 2021

FORM 51–102F3

MATERIAL CHANGE REPORT

Item 1 Name and Address of Company

St-Georges Eco-Mining Corp. (the “ Company ”) 1000 Sherbrooke Street W., Suite 2700 Montreal, QC H3A3G4

Item 2 Date of Material Change

December 21, 2021

Item 3 News Release

News release dated December 21, 2021 were disseminated and subsequently filed on SEDAR.

Item 4 Summary of Material Change

The Company completed a non-brokered private placement for gross proceeds of $1,464,999.90.

Item 5

Full Description of Material Change

The Company closed a non-brokered private placement (the “ Offering ”) of 4,185,714 units (the “ Units ”) per Unit for gross proceeds of $1,464,999.90.

Each Unit is comprised of one common share on basis (each a “ Share ”) and one transferable common share purchase warrant (each “ Warrant ”). Each Warrant is exercisable into a Share (a “ Warrant Share ”) at an exercise price of $0.40 for a period of 18 months.

Finder’s compensations were paid in connection with the Offering. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from Issuance Date, in accordance with applicable securities legislation.

The Company intends to use the proceeds from the Offering for general working capital.

Item 5.2 Disclosure for Restructuring Transactions

Not applicable.

• Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

• Item 7 Omitted Information

Not applicable.

• Item 8 Executive Officer Neha Tally, Secretary Tel: 514-996-6342

Item 9 Date of Report

December 24, 2021