Ann: ACQUISITION OF HIGH-GRADE ARAXA NIOBIUM PROJECT, page-126

Guys, there were comments today that this holding would never be developed, etc.

Refer below extract from the ann - clearly, they intend to proceed to development.

There are only 3 producers of Niobium with 2 in Brazil and one in Canada.

Our neighbour (adjacent to us) in Brazil provides over 80% of the world's supply.

SGQ is positioned to be the world's next Niobium producer (per the co). Work is underway to finalise the grant of mining concessions and SGQ intends to issue a maiden JORC compliant resource in the first half 0f 2025..

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"Unique Opportunity for St George
Positioned to be the world’s next niobium producer

Well-established Permitting Process
• Two mining concession applications and one exploration permit.
• Environmental permit applications underway to finalise grant of mining concessions.

Extensive historical drilling supports resource definition
• St George to use drilling post-acquisition together with historical drilling to issue a maiden
JORC compliant resource in H1 2025.

Expedited pathway to development
• Metallurgical study planned to confirm similar metallurgy to the adjacent CBMM niobium
mine, which has been in operation for more than 50 years.
• Access to existing infrastructure (roads and power) and local workforce.

Reliable Tier 1 jurisdiction
• Stable regulatory regime in Brazil’s leading mining state of Minas Gerais. Existing mining
operations adjacent to St George of major mining companies – CBMM, CODEMIG, Mosaic."