St George Mining Limited (ASX: SGQ) (St George or Company) is pleased to announce that it has entered into a binding agreement for an option to acquire 100% of the Woolgangie Project, located in the Eastern Goldfields of Western Australia. The Woolgangie Project covers a large area within a prospective belt that has received only superficial previous exploration for lithium bearing pegmatites and limited exploration for other types of mineralisation. St George believes that systematic exploration for lithium and other critical metals offers an excellent opportunity for a new discovery.
John Prineas, St George Mining's Executive Chairman, said: 'This acquisition expands our project portfolio in Western Australia into a highly prospective but largely overlooked region and stamps St George as a dominant player in this area. 'The option over Woolgangie provides a strategic and cost-effective pathway to grow St George's already substantial lithium and critical metals opportunities in Western Australia, complementing our success at Mt Alexander and the potential of our other projects including Paterson, Ajana and Broadview Projects.
Option over Woolgangie:
St George's wholly owned subsidiary, Destiny Nickel Pty Ltd (Destiny Nickel), entered into an option agreement with Belres Pty Ltd and WA Mining Partners Pty Ltd (together, the Vendor) on 1 February 2023 to acquire a package of tenements in the Eastern Goldfields (Option Agreement). Pursuant to the Option Agreement, Destiny Nickel has been granted an option to acquire tenements, applications for tenements and project information owned by the Vendor, which must be exercised no later than 2 February 2025. The tenements comprise nine exploration licences - two have been granted and seven are in application - covering a total area of approximately 1,200 sq km. The tenements cover two strategic areas. One area, the western tenements, encompasses approximately 70km of strike along the highly prospective Ida Fault - a major crustal boundary that controls multiple major minerals deposits within WA. The other area, the eastern tenements, is proximal to an established lithium region that hostsseveral significant lithium deposits and operating mines
Contact:
John Prineas
Executive Chairman
St George Mining Limited
T: +61 (0) 411 421 253
E: John.prineas@stgm.com.au
Forward Looking Statements:
This announcement includes forward-looking statements that are only predictions and are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of St George, the directors and the Company's management. Such forward-looking statements are not guarantees of future performance. Examples of forward-looking statements used in this announcement include use of the words 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of announcement, are expected to take place. Actual values, results, interpretations or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements in the announcement as they speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, St George does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward-looking statement is based. This announcement has been prepared by St George Mining Limited. The document contains background Information about St George Mining Limited current at the date of this announcement. The announcement is in summary form and does not purport to be all inclusive or complete. Recipients should not rely upon it as advice for investment purposes, as it does not take into account your investment objectives, financial position or needs. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate. The announcement is for information purposes only. Neither this announcement nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. The announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply to their own jurisdiction as a failure to do so may result in a violation of securities laws in such jurisdiction. This announcement does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this announcement are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of this material is accepted by St George Mining Limited (including any of its related bodies corporate), its officers, employees, agents and advisers.
ST GEORGE MINING LIMITED 
