ABOUT THE MT ALEXANDER PROJECT

The Mt Alexander Project is located 120km south-southwest of the Agnew-Wiluna belt which hosts numerous world class nickel deposits. The Project comprises four granted exploration licences – E29/638, E29/548, E29/962 and E29/954.

The Cathedrals, Stricklands and Investigators nickel-copper discoveries are located on E29/638, which is held in joint venture by Western Areas Limited (25%) and St George (75%). St George is the Manager of the Project with Western Areas retaining a 25% non-contributing interest in the Project (in regard to E29/638 only) until there is a decision to mine.

The other three granted exploration licences are owned 100% by St George. One further exploration licence, also 100% St George, is in the application phase – ELA29/972.

St George acquired 100% of E29/954 and its 75% interest in E29/638 from BHP Billiton Nickel West in October 2015 and January 2016 respectively.

BHP Billiton Nickel West made the first discovery of high grade nickel-copper sulphides at Mt Alexander with drill hole MAD12 which intersected 3.95m @ 5.05%Ni, 1.55%Cu, 0.11%Co and 4.44g/t total PGEs from 91.4m.

St George continued this exploration success in 2016 with 19 drill holes intersecting more nickel-copper sulphides, including the exceptional discovery of massive nickel-copper sulphides at shallow depths of 25m from surface.

Preliminary metallurgical testwork confirmed that Mt Alexander will produce a high value saleable concentrate that will be sought after by smelters. Grades achieved in this test were 18% nickel and 32% copper plus high values for cobalt and PGEs that will provide valuable smelter credits.

The location of the Project near the world class nickel sulphide mines in the Agnew-Wiluna belt provides St George with access to existing roads and infrastructure, as well as opportunities to utilise existing processing plants.

With multiple intersections of high grade nickel-copper sulphides over a broad area and favourable project economics, Mt Alexander is emerging as a major new nickel sulphide camp in Western Australia.