Mr. Benoit La Salle reports

SRG MINING INC. PROVIDES AN UPDATE ON RECENT ACTIVITIES RELATED TO ITS LOLA GRAPHITE PROJECT LOCATED IN THE REPUBLIC GUINEA

SRG Mining Inc. has provided an update on recent activities related to its Lola graphite project located in the Republic of Guinea.

The company has recently announced the closing of a $4.8-million private placement with namely two European businesspersons, Eric Swenden and Christian Dumolin, through their related entities.

With the financing in place and to further the development of the project, the company has established a fieldwork program to commence preliminary civil work on the project site starting in the coming weeks. The company also intends to start detailed engineering work in the coming weeks in a view to optimize and advance the project.

To complement its mining permit on the project, the company will also be seeking to advance and finalize a mining convention with the state, which it hopes to conclude in the first half of financial year 2022.

The company is also pleased to announce a non-brokered private placement for the sale of 500,000 common shares at the price of 54 cents per share for gross proceeds of $270,000. No warrants are issued under the offering.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange. All securities issuable pursuant to the offering are subject to a four-month hold period from the date of issuance in accordance with applicable Canadian securities laws.

No finders' fees or commission are payable. Net proceeds from the private placement will be used for the further development of the project.

About SRG Mining Inc.

SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG Mining is committed to operating in a socially, environmentally and ethically responsible manner.

We seek Safe Harbor.