St. Augustine Announces Acquisition of Additional Interest in Kingking Copper GOLD Project
ST. AUGUSTINE ANNOUNCES ACQUISITION OF ADDITIONAL
INTEREST IN KINGKING COPPER GOLD PROJECT
Singapore – May 30, 2025 – St. Augustine Gold and Copper Limited (TSX:SAU) (“St. Augustine” or
the “Company”) is pleased to announce that it has closed its previously announced (May 20, 2025)
agreement with its co-venture partner Nationwide Development Corporation (“Nadecor”) to restructure
the ownership interests in the KingKing Copper Gold Project (the “Project”) located in the Philippines.
The Company issued a convertible note to Nadecor in the amount of $9,120,500, convertible into
185,000,000 million Company shares at a deemed price of $0.0493. In return St. Augustine acquired
all the outstanding shares of Nadecor’s subsidiary Kingking Milling Corporation, which holds the
development rights to the Project.
The note bears no interest and is assignable by Nadecor, including to its shareholders, at its discretion.
Conversion must take place within 6 months.
The exploration and development permits issued by the Philippine government for the Project are held
by Kingking Mining Corporation which is owned 40% by the Company, 40% by Nadecor and 20% by
Queensberry Mining and Development Corp., the largest shareholder of the Company. Kingking Mining
Corporation has entered into ore sales and royalty agreements with Kingking Milling Corporation which
has given Kingking Milling Corporation the rights to, process, mill and market all ore recovered from the
Project. In return Kingking Mining Corporation receives a 7% royalty on net income and certain
payments for ore delivered for milling.
This structure provides optimal economic interest in the Project to the Company, setting the stage for
project finance from outside parties in various forms.
About St. Augustine
St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the Kingking
Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world
and is listed as a top three-priority mining project by the Philippine government.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement includes certain “forward-looking statements” within the meaning of Canadian
securities legislation. All statements, other than statements of historical fact included herein are forward
looking statements. Forward-looking statements involve various risks and uncertainties and are based
on certain factors and assumptions. While we consider these assumptions to be reasonable based on
currently available information, they may prove to be incorrect. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking information is also subject to certain factors,
including risks and uncertainties, that could cause actual results to differ materially from the Company’s
current expectations, including changes in market conditions, governmental or regulatory
developments and general economic conditions. Other risks and uncertainties related to the Company
are disclosed under the heading “Risk Factors” in the Company’s Annual Information Form dated March
31, 2025 and filed with Canadian securities regulatory authorities on the SEDAR+ website
atwww.sedarplus.ca. Forward-looking information contained in this announcement is based on our
current estimates, expectations and projections, which we believe are reasonable as of the current date.
You should not place undue importance on forward-looking information and should nor rely on this
information as of any other date. While we may elect to, we are under no obligation and do not
undertake to update this information at any particular time except as required by applicable securities
law.
For more information:
Lenna Mae Leopoldo
Investor and Public Relations Contact
ST. AUGUSTINE CORPORATE
HEADQUARTERS
T: +6382 225 0884 No.21, Greenwood Lane, E:
[email protected] Singapore, 286949