Mr. Ruibin Xu reports

SOUTHGOBI ANNOUNCES UPDATE ON UPCOMING ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

SouthGobi Resources Ltd. has provided an update on its upcoming annual and special meeting of shareholders which is scheduled to be convened on Thursday, June 25, 2026, in Vancouver, B.C., Canada (that is, Friday, June 26, 2026, in Hong Kong).

Reference is made to the announcements of the company dated Nov. 11, 2022, March 26, 2023, Aug. 30, 2023, Oct. 13, 2023, Nov. 17, 2023, Jan. 19, 2024, March 19, 2024, April 30, 2024, March 20, 2025, March 23, 2026, and April 10, 2026.

As a result of the company requiring additional time to finalize the management information circular and related materials for the annual and special meeting with respect to the disclosure relating to the March, 2026, deferral agreement, the company will no longer be seeking independent shareholders approval for the March, 2026, deferral agreement at the annual and special meeting as previously announced. Instead, the company will be seeking approval of the March, 2026, deferral agreement from independent shareholders at a special meeting of shareholders to be held on or before Aug. 29, 2026. The company will propose resolutions for the independent shareholders to consider and, if thought fit, approve the March, 2026, deferral agreement and the transactions contemplated thereunder.

The management information circular containing, among other things, (i) details of the March, 2026, deferral agreement; (ii) a letter from the independent board committee to the independent shareholders; (iii) the recommendations from the independent financial adviser to the independent board committee and the independent shareholders; and (iv) the notice of the special meeting, will be filed under the company's profile on SEDAR+ and despatched to shareholders of the company in accordance with applicable securities laws on or before Aug. 29, 2026.

The annual general meeting will be held as scheduled on Thursday, June 25, 2026, in Vancouver, B.C., Canada (that is, Friday, June 26, 2026, in Hong Kong), and the record date for determining the eligibility of the shareholders of the company to attend the annual general meeting has remained unchanged.

If there is any inconsistency or discrepancy between the English and Chinese version, the English version shall prevail.

As at the date of this announcement, the executive directors of the company are Ruibin Xu, Chonglin Zhu and Chen Shen; the independent non-executive directors of the company are Yingbin Ian He, Jin Lan Quan and Fan Keung Vic Choi; and the non-executive directors of the company are Zhu Gao and Zaixiang Wen.

About SouthGobi Resources Ltd.

SouthGobi, listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.