SGQ.V · 2020-09-30 12:00:00

Southgobi Announces Additional Resumption Guidance

Corporate Updates

September 30, 2020

SOUTHGOBI ANNOUNCES ADDITIONAL

RESUMPTION GUIDANCE

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

“Company”) announces that reference is made to the announcements of the Company dated

September 3 and September 13, 2020 (the “ Announcements”). Unless otherwise stated

herein, capitalized terms used herein shall have the same meanings as that ascribed to them

in the Announcements.

RESUMPTION GUIDANCE

With reference to the announcement of the Company dated September 3, 2020, the Company

has been notified by the Hong Kong Stock Exchange of the following Resumption Guidance:

 publish all outstanding financial results and address any audit modifications;

 inform the market of all material information for the Company’s shareholders and

investors to appraise its position; and

 announce quarterly updates on the Company’s developments under Rules 13.24A of

the Listing Rules, including, amongst other relevant matters, its business operations,

its resumption plan and the progress of implementation.

If the Company fails to remedy the issues causing its trading suspension, fully comply with the

Listing Rules to the Hong Kong Stock Exchange’s satisfaction and resume trading in its shares

on the Hong Kong Stock Exchange by February 16, 2022, the Listing Division will recommend

the Listing Committee to proceed with the cancellation of the Company’s listing. Under Rules

6.01 and 6.10 of the Listing Rules, the Hong Kong Stock Exchange also has the right to impose

a shorter specific remedial period, where appropriate.

ADDITIONAL RESUMPTION GUIDANCE

On September 30, 2020, the Company was notified by the Hong Kong Stock Exchange of the

following additional resumption guidance:

 resolve issues arisen from the Cease Trade Order and/or the TSX Delisting Review.

The Hong Kong Stock Exchange indicated that it may modify the Resumption Guidance and/or

give further guidance if the situation changes.

The Company will also make further announcement(s) in relation to the above matters, as and

when appropriate.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Hong Kong Stock

Exchange has been suspended with effect from August 17, 2020 and will remain suspended

until further notice.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its

flagship Ovoot Tolgoi coal mine in Mongolia. SouthGobi produces and sells coal to customers

in China.

Contact:

Investor Relations

Office: +852 2156 1438 (Hong Kong)

+1 604 762 6783 (Canada)

Website: www.southgobi.com