St George Mining Limited announced that an expanded drill programme is underway at its Mt Alexander Lithium Project in WA's Goldfields, with confidence underpinned by the return of encouraging first assays from the maiden lithium drilling campaign carried out in 2022. Encouraging Results: The drill programme underway at Mt Alexander is built on the foundations established by a successful small, maiden drill campaign in late 2022. Further assays for an additional five drill holes are pending.

Given the campaign was testing several concepts during the maiden drill programme and using already existing drilling approvals, the Company is encouraged by these initial assay results. Several drill holes had anomalous lithium intercepts of 5m or more with the thickest intersection of 14m (MARC168). High-grade lithium values above 1% Li2O were returned in six intersections with a peak value of 1.8% Li2O (MARC158).

Assays also indicated elevated values of Ta, Cs and Rb with the lithium mineralisation, which further supports the interpretation of fractionated pegmatites that are fertile for lithium deposits. Peak values were in MARC168 which intersected a 14m thick interval of anomalous lithium including 1m at 1.25% Li2O, 2,020 ppm Ta, 2,330ppm Cs and 11,800 ppm Rb from 79m. Several drill holes intersected more than one pegmatite, indicating the likely presence of multiple stacked pegmatite units.

Further drilling will be designed to investigate if these pegmatites potentially merge at deeper levels or are otherwise associated with a larger pegmatite body down-dip. A number of drill samples confirmed by assays to have anomalous lithium will undergo petrographic examination to confirm the nature of the lithium bearing minerals, which are visually interpreted to include spodumene and lepidolite. Strong foundation to expand drilling: The maiden lithium drilling programme was aimed at confirming that high-grade mineralised pegmatite outcrops continue below surface and to gain a better understanding of the orientation of the pegmatites in order to plan future drill programmes.

The 2022 drilling delineated continuity of the lithium-bearing pegmatites below surface with most pegmatites open at depth. Deeper drilling of two pegmatites indicated continuity up to 220m vertical depth, highlighting the potential scale of the pegmatite system that has yet to be fully explored. These results provide a strong platform to expand the lithium drilling across the pegmatite corridor at St George's tenure.

This corridor is located adjacent and to the west of the Copperfield Granite, the interpreted source of the mineralised pegmatites at Mt Alexander as well as at Red Dirt Metals' Mt Ida Project situated approximately 15km to the south of St George's ground. New and expanded Programmes of Work have now been approved that include more extensive areas of the prospective corridor for drilling. Based on the intersection angle of the drilling with the modelled pegmatites, downhole widths noted above are interpreted to be close to true widths.

Drilling has recommenced at Mt Alexander with a major drill campaign that will ­ for the first time systematically explore the extensive pegmatite system at Mt Alexander. Drilling is designed to test multiple new target areas within the 15km-long pegmatite corridor as well as down dip and along strike from the 2022 drill holes completed at the Jailbreak Prospect. Drilling has commenced in the eastern margin of E29/962, an area close to the Copperfield Granite a geological setting that is similar to the area that hosts Red Dirt Metal's Sister Sam, Sparrow and Timoni lithium deposits approximately 20km to the south.

A number of north-south lines will be drilled to test the extent of continuity of the east-west trending pegmatites. The lines in the eastern margin of E29/962 will test for concealed pegmatites. Sampling of the limited outcrop in this area has returned anomalous Rb and Li2O levels suggesting that thin cover may be masking mineralised pegmatites.