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SGQ.V ·

Southgobi Announces Effective Date FOR Listing ON the TSX Venture Exchange and Voluntary de- Listing from the Toronto Stock Exchange

Listings & Exchange

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April 1, 2023

SOUTHGOBI ANNOUNCES EFFECTIVE DATE FOR LISTING

ON THE TSX VENTURE EXCHANGE AND VOLUNTARY DE-

LISTING FROM THE TORONTO STOCK EXCHANGE

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

“Company”) is pleased to announce that, further to the Company’s press release dated March

6, 2023, the Company’s common shares will commence trading on the TSX Venture Exchange

(“TSX-V”) as of the opening of trade on April 17, 2023 in Canada. The Company’s trading

symbol “SGQ” will remain the same.

The Company’s common shares are expected to trade on the TSX-V under the existing CUSIP

#844375105 and ISIN #CA8443751059. In connection with the TSX-V listing, the Company’s

common shares will be delisted from the Toronto Stock Exchange (“ TSX”) at the close of

trading on April 14, 2023 in Canada. Both the TSX and TSX -V are each expected to issue a

bulletin to this effect.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, 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

Office: +852 2156 1438 (Hong Kong)

+1 604 762 6783 (Canada)

Email: [email protected]

Website: www.southgobi.com

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Forward-Looking Statements

Certain information included in this press release that is not current or historical factual information

constitutes forward-looking statements or information within the meaning of applicable securities laws

(collectively, “forward -looking statements”), including information regarding the effective date of the

listing of the Company’s common shares on the TSX-V and the effective date of delisting from the TSX.

Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”,

“intend”, “believe”, “anticipate”, “could”, “should”, “seek”, “likely”, “estimate” and other similar words or

statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based

on certain factors and assumptions including, among other things, the ability of the Company to satisfy

the listing conditions set out in the TSX -V’s conditional acceptance letter and other similar factors that

may cause actual results to differ materially from what the Company currently expects. Actual results

may vary from the forward -looking statements. Readers are cautioned not to place undue importance

on forward-looking statements, which speaks only as of the date of this disclosure, and not to rely upon

this information as of any other date. While the Company may elect to, it is under no obligation and

does not undertake to, update or revise any forward -looking statements, whether as a result of new

information, further events or otherwise at any particular time, except as required by law. Additional

information concerning factors that may cause actual results to materially differ from those in such

forward-looking statements is co ntained in the Company’s filings with Canadian securities regulatory

authorities and can be found under the Company’s profile on SEDAR at www.sedar.com.