Update on Listing Application in Canada

VANCOUVER, BC / ACCESSWIRE / February 28, 2023 / SouthGobi Resources Ltd. (TSX:SGQ, HK:1878) ("SouthGobi" or the "Company") announces that 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, July 29, 2022, September 15, 2022, November 23, 2022, December 30, 2022, and January 31, 2023 (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

The Company wishes to update its Shareholders and investors that the Delisting remains subject to obtaining said approvals from the relevant stock exchange in connection with the Listing Application, the anticipated Effective Date is thus postponed to April 2023 instead of the end of February 2023.

The Company will closely monitor the development of the aforesaid matters and keep the Shareholders and potential investors informed of any material development in connection with the above matters by way of periodic announcements and/or further announcement(s) as and when appropriate.

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.

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: info@southgobi.com
Website: www.southgobi.com

SOURCE: SouthGobi