Ms. Lenna Leopoldo reports

ST. AUGUSTINE ANNOUNCES ACQUISITION OF ADDITIONAL INTEREST IN KINGKING COPPER GOLD PROJECT

St. Augustine Gold and Copper Ltd. has closed its previously announced (May 20, 2025) agreement with its co-venture partner Nationwide Development Corp. (Nadecor) to restructure the ownership interests in the KingKing copper-gold project located in the Philippines. The company issued a convertible note to Nadecor in the amount of $9,120,500, convertible into 185 million company shares at a deemed price of 4.93 cents. In return, St. Augustine acquired all the outstanding shares of Nadecor's subsidiary KingKing Milling Corp., which holds the development rights to the project.

The note bears no interest and is assignable by Nadecor, including to its shareholders, at its discretion. Conversion must take place within six months.

The exploration and development permits issued by the Philippine government for the project are held by KingKing Mining Corp., which is owned 40 per cent by the company, 40 per cent by Nadecor, and 20 per cent by Queensberry Mining and Development Corp., the largest shareholder of the company. KingKing Mining has entered into ore sales and royalty agreements with KingKing Milling, which has given KingKing Milling the rights to process, mill and market all ore recovered from the project. In return, KingKing Mining receives a 7-per-cent royalty on net income and certain payments for ore delivered for milling.

This structure provides optimal economic interest in the project to the company, setting the stage for project finance from outside parties in various forms.

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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