Ann: St George Opens Share Purchase Plan, page-63

Hey @mitis, @coto, @Kipper01, @Tapper and others (sorry if I've left you off), I'm still alive and kicking and appreciate your concerns and continued support. Apologies for not posted for a while as have been super busy with other stuff lately.

There have been lots of comments over the last 3 weeks - some very good points have been made and then there is the usual crap that adds zero value and pretty much pisses everyone off.

One thing I do agree with and that is that the seismic drilling did not deliver on what we were all led to believe. Yes is did successfully identified the fault structures and I can understand the positive spin on this as it does add value to understanding the geology but there were zero massive sulphides that replicated the shallow massive and that was very disappointing. I'd say the consultants made too many assumptions and stuffed this one up.

Nonetheless, I still believe St George is on the right track to delivering significant value to shareholders and have not sold a single share. Yes I am in the red like most others but in my view the fundamentals are still there and St George needs to persevere. Have seen this with many other explorers where the fundamentals stack up yet those companies were severely punished by the market at the time and now it's like someone flicked the switch and they are going gang busters. Significant St George buying opportunity in my view.

I am very glad to see Julian Hana on board to guide the team on the ground as that has been lacking for the last 3 plus years and one of the key reasons imo that St George has been spinning its wheels (especially during the Covid lockdowns) as you need senior experienced operational talent on the ground to marshal the troops and keep the momentum and belief going - can't do that remotely.

I am also very glad to see that John, Julian and Sarah have invested significant funds (combined) in the latest CR. This should have addressed the very negative press about them not investing so those still bagging management about skin in the game should take a hike.

Regarding the strategy moving forward for Mt Alexander I have the following comments:

1. West End - Ida Fault is definitely the way to go and number priority. I have been saying this for 3 plus years now and it's about time they focus on it.
2. Radar & Fish Hook I am not a fan of at this time as there are much better uses of the limited funds imo.
3. Granite / Greenstone Contact is worth a look at as most of the nickel in this region is north south and this is an intersection point between the known nickel hits in the Central Belt and the Cathedrals Belt. I like it but would do this after further seismic analysis.
4. Bullseye is definitely worth a look and should be priority 2 after the West End - Ida Fault imo. I have always been keen on the north side of the Cathedrals Belt with the north / north west plunging mineralisation and this target seems to line up with the Transits Fault.
5. Seismic expansion programme with the east west and more north south lines is a very good call now that we know the seismic has successfully mapped the structures and their depth. This will identify show where all the structures intersect each other as this is potentially where massive sulphides could have accumulated and or been fed through. Will also provide some 3D insights that will definitely help in the search for the potential mother load(s).
6. Infill & Extensional Drilling has to be a key priority to get the shallow mining up and running to make the company self sufficient. This is imo super urgent to get $ in the door, increase the exploration efforts and stop further CRs.

I am still very positive but do understand several of the concerns still floating around but this is exploration and for me the fundamentals are still there and Julian adds that extra proven element of experience and success.

Hopefully the RC rig will be on site soon to do the infill & extensional drilling and the diamond rig will be back around June. I don't mind if the diamond rig takes a little longer to get back to site as I would like to see St George doing the additional seismic surveying first so as to optimise the drilling targets to hit the faults.

I still strongly believe St George will deliver but we just need to continue to be patient.

Cheers
SandyC