Change of Chief Financial Officer

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February 2, 2024

CHANGE OF CHIEF FINANCIAL OFFICER

VANCOUVER – SouthGobi Resources Ltd. (TSX-V: SGQ, HK: 1878) (“SouthGobi” or the

“Company”) announces that Ms. Chonglin Zhu (“Ms. Zhu”) has been appointed as the Chief

Financial Officer of the Company, replacing Mr. Alan Ho (“Mr. Ho”) who has been assigned

to a new management position in the Company. The changes become effect on February 2,

2024 Hong Kong time.

Ms. Zhu, aged 36, joined the Company in September 2022 as Senior Vice President of

Finance and an Executive Director of the Company. Prior to joining the Company, Ms. Zhu

was the Chief Financial Officer of Inner Mongolia Tianyu Innovation Investment Group Co.,

Ltd.* (内蒙古天宇创新投资集团有限公司) (“Tianyu Group”) from March 2015 to September

2022. Tianyu Group is an investment company based in Inner Mongolia, China with a variety

of businesses including coal mining and processing. Ms. Zhu was responsible for managing

the financial operations and investments of Tianyu Group. She joined Tianyu Group in 2011

and served as a business manager in the finance department of Tianyu Group between 2012

and 2015.

Ms. Zhu obtained a bachelor of art degree in Japanese language and literature at Guangdong

University of Foreign Studies in 2009 and a bachelor degree in accounting at Harbin University

of Science and Technology in 2016. She is a member of the Canadian Institute of Corporate

Directors.

The Company’s board of directors wishes to express its great gratitude to Mr. Alan Ho for his

leadership, guidance and commitment to the Company in his capacity as the Chief Financial

Officer between February 2021 and February 2024.

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About SouthGobi

SouthGobi, listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, owns

and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences

of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia.

SouthGobi produces and sells coal to customers in China.

Contact:

Investor Relations

Email: [email protected]

Mr. Ruibin Xu

Chief Executive Officer

Office: +1 604 762 6783 (Canada)

+852 2156 1438 (Hong Kong)

Website: www.southgobi.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this release.