Southgobi Announces Date of Special Shareholders Meeting and the Record Date; and Extension of the Deferral Agreement

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July 5, 2023

SOUTHGOBI ANNOUNCES DATE OF SPECIAL

SHAREHOLDERS MEETING AND

THE RECORD DATE; AND

EXTENSION OF THE DEFERRAL AGREEMENT

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

“Company”) announces that , reference is made to (i) the announcement of SouthGobi

Resources Ltd. (the “Company” or “ SouthGobi”) dated March 26, 2023 in relation to the

March 2023 Deferral Agreement (“ March 26 Announcement”); and (ii) the announcements

of the Company dated April 26, 2023 and May 24, 2023 in relation to the Record Date and the

postponement of the Special Meeting (collectively referred to as the “ Announcements”).

Capitalized terms used in this announcement shall have the same meaning as those defined

in the Announcements unless otherwise defined.

The Company announces that the Special Meeting will convene on Wednesday, August 23,

2023, Vancouver time (Thursday, August 24, 2023, Hong Kong time) in Vancouver, British

Columbia, Canada for the purpose of seeking approval of the March 2023 Deferral Agreement

from disinterested Shareholders. The Company has agreed with JDZF to extend the cut -off

date for obtaining Shareholder approval of the March 2023 Deferral Agreement until

September 30, 2023. All other terms and conditions of the March 2023 Deferral Agreement as

disclosed in March 26 Announcement remain unchanged.

The record date for the determination of the Shareholders who are entitled to receive the

notice of, and to attend and vote at, the Special Meeting or any postponement(s) or

adjournment(s) thereof, will be Wednesday, July 19, 2023, Vancouver and Hong Kong (the

“New Record Date”). Shareholders whose names appear on the shareholders register of the

Company at the close of business on the New Record Date will be entitled to attend the Special

Meeting and cast votes if his or her shares carry voting rights.

In order to be valid, a form of proxy together with the power of attorney or other authority, if

any, under which it is signed or a certified copy of that power or authority, must be deposited

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at with TSX Trust Company or Computershare Hong Kong Investor Services Limited, as soon

as possible and in any event received by no later than 7:30 p.m. (Vancouver time) on Monday,

August 21, 2023 (which is 10:30 a.m. on Tuesday, August 22, 2023, Hong Kong time), or 48

hours (excluding Saturdays, Sundays and statutory holidays in the City of Vancouver, British

Columbia, Canada and public holidays in Hong Kong, China) before the Special Meeting or

any postponement(s) or adjournment(s) thereof.

A notice of the Special Meeting which contains, amongst other things, the time, venue and the

detailed agenda of the Special Meeting, along with a management circular concerning certain

matters to be considered at the Special Meeting, including full details of the Deferral and the

terms and conditions of the March 2023 Deferral Agreement, will be dispatched to

Shareholders in due course and filed under the Company’s profile on SEDAR at

www.sedar.com.

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