Southgobi Announces Update ON Voluntary Delisting

1

September 14, 2022

SOUTHGOBI ANNOUNCES UPDATE

ON VOLUNTARY DELISTING

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

“Company”) This announcement is made by SouthGobi Resources Ltd. (the “ Company”)

pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on the Hong Kong

Stock Exchange, paragraph 3.42 of the Guidance Letter HKEX -GL-112-22 and the inside

information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571

of the Laws of Hong Kong).

Reference is made to the Company’s announcements dated April 21, 2022 and July 29, 2022

(Hong Kong time) (“Announcements”). Unless otherwise specified, capitalized terms used in

the Announcements shall have the same meanings when used herein.

UPDATE ON EFFECTIVE DATE OF THE DELISTING

As disclosed in the Announcements, the Delisting remains conditional upon the Company

obtaining approval s from the TSX and the TSX -V in connection with the Delisting. The

Company wishes to update its Shareholders and investors that the Delisting remains subject

to obtaining said approvals from the TSX and TSX-V, and the anticipated Effective Date is by

the e nd of November instead of mid -September 2022. The Company will keep the

Shareholders and the public informed about the progress of the Delisting.

There may exist certain uncertainties as to whether and when the Delisting will proceed.

Shareholders who have any queries about the implications of the Delisting are advised

to obtain appropriate professional advice. Shareholders and potential investors are

advised to exercise caution when dealing in the securities of the Company.

The Company will closely monito r the development of the aforesaid matters and keep the

Shareholders and potential investors informed of any material development in connection with

2

the above matters by way of periodic announcements and/or further announcement(s) as and

when appropriate.

If there is any inconsistency or discrepancy between the English version and the Chinese

version, the English version shall prevail.

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