Mr. Matthieu Bos reports

SRG TERMINATES PROPOSED TRANSACTIONS WITH C-ONE

SRG Mining Inc. has made the strategic decision to terminate the agreements and non-binding term sheet with Carbon One New Energy Group Co. Ltd. (C-One), initially announced on July 10, 2023, and Nov. 24, 2023, respectively.

"The conclusion to discontinue our transactions with C-One, though challenging, was made with a clear focus on safeguarding and advancing the interests of our shareholders and stakeholders," said Matthieu Bos, president and chief executive officer of SRG. "We remain financially strong and are resolved to use our strengths to build SRG into a leading producer of anode materials."

About SRG Mining Inc.

SRG Mining is focused on developing the Lola graphite project located in the Republic of Guinea, West Africa. The Lola graphite project has proven and probable reserves of 42 million tonnes at a grade of 4.2 per cent graphitic carbon. SRG aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets. With attractive operating costs, proximity to European end markets and strong ESG (environmental, social and governance) credentials, the company is poised to become a reliable supplier while promoting sustainability and supply chain transparency.

SRG is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.

We seek Safe Harbor.