Ms. Lenna Leopoldo reports

ST. AUGUSTINE ANNOUNCES RESULTS OF ITS ANNUAL GENERAL MEETING

Shareholders have approved all resolutions brought before them at St. Augustine Gold and Copper Ltd.'s annual general meeting of shareholders held on June 28, 2023.

The director nominees listed in the company's 2023 management information circular filed on SEDAR were elected as noted herein.

The shareholders also voted in favour of appointing Davidson and Company LLP as the external auditor of St. Augustine until the next annual meeting at such remuneration as may be determined by the company's directors. Of the votes cast, 99.96 per cent supported the appointment of the auditor.

The Kingking copper-gold project

The Kingking copper-gold project is located in Davao de Oro (formerly Compostela Valley) in the Philippines and is expected to recover 3.16 billion pounds of copper and 5.43 million ounces of gold over its 25-year mine and process life. According to the preliminary feasibility study that was released on Sept. 18, 2013, and then filed on SEDAR on Nov. 1, 2013, the project has a pretax net present value of $2-billion with an internal rate of return of 24.8 per cent. The estimated mineral reserves amount to 617.9 million tonnes at 0.300 per cent total copper and 0.395 gram per tonne gold.

About St. Augustine Gold and Copper Ltd.

St. Augustine is a Toronto Stock Exchange-listed mining company focused on the development of the Kingking copper-gold project. The project is one of the largest undeveloped copper-gold deposits in the world, and is listed as a top three priority mining project by the Philippine government.

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