Mr. Frank Dumas reports

PRELIMINARY RESULTS FROM THE FALL 2022 CAMPAIGN ON THE MANICOUAGAN CRITICAL MINERALS PROJECT

St-Georges Eco-Mining Corp. has released some of the preliminary results for the company's fall 2022 drill program.

A series of results were received and interpreted for most intervals for which grades did not reach the threshold limits more than once. The one exception is hole MN22-03, which has reached lab assay threshold limits multiple times on some intervals. At the time of this press release, the results from that hole are being analyzed and compiled to be released in the coming days. The company is also in receipt of a draft preliminary report of the airborne geophysics that contains important information that will be central to future exploration campaigns on the project. A complete report should be available to the company's geologists by Q3, and a summary of its findings will be disclosed at that time.

An additional six-hole program was conducted in spring 2023 for 1,424 metres. The total for both programs is 3,229 metres.

Fall 2022 drilling results

Drill holes MN22-01 through MN22-05 tested the western extensions of the Bob zone. Holes MN22-002, 003 and 004 encountered visible semi-massive to massive zones of sulphide mineralization within a broader zone of disseminated mineralization extending the Bob zone another 20 metres to the west.

MN22-04 intersected 2.51 per cent nickel, 1.635 per cent copper, 0.064 per cent cobalt, 2.34 grams per tonne platinum and 2.77 g/t palladium over one metre occurring within a six-metre zone averaging 0.49 per cent nickel, 0.02 per cent cobalt, 0.05 per cent chrome, 0.03 per cent copper, 0.41 g/t platinum, 0.50 g/t palladium and 5.9 per cent magnesium. The hole is an offset of MN22-03 and starts at a depth of six metres.

Hole MN22-02 intersected a zone of 22 metres of 0.16 per cent nickel, 0.01 per cent cobalt, 0.16 per cent chrome, 0.04 g/t platinum, 0.13 g/t palladium and 15.2 per cent magnesium, including 0.65 per cent nickel, 0.185 per cent copper, 0.048 per cent cobalt, 0.4 g/t platinum and 1.58 g/t palladium over one metre. This intercept is included within a 23-metre zone assaying. The hole is an offset of MN22-01 and starts at a depth of 17 metres. Hole MN22-01 appears to have been positioned in the footwall of the zone intersecting nine metres of 0.16 per cent nickel, 0.01 per cent cobalt, 0.16 per cent chrome, 0.03 g/t platinum, 0.05 g/t palladium and 16.2 per cent magnesium.

Hole MN22-05 intersected an intermittent zone of weakly mineralized rock near surface over 17 metres grading 0.07 per cent nickel, 0.01 per cent cobalt, 0.09 per cent chrome, 0.01 g/t platinum, 0.01 g/t palladium and 8.7 per cent magnesium.

Holes MN22-06 through 09 were drilled in a north-south fence approximately 60 metres east of holes MN21-17 and 18. These holes were planned to test extensions of the Bob zone but failed to find high grades. MN22-006 through 008 did not encounter any significant ultramafic rocks or significant mineralization. Hole MN22-09 intersected weak mineralization in three bands from two to six metres grading up to 955 parts per million arsenic, 0.011 per cent cobalt, 0.16 per cent chrome, 13 per cent magnesium, 0.14 per cent nickel, 0.021 ppm platinum and 0.021 ppm palladium.

Holes MN22-10 and 011 were drilled approximately 215 metres west of hole MN22-05, testing a magnetic high. They were drilled off the same pad, which offset the magnetic high to the south by 100 metres. Both holes encountered thick intercepts of low-grade mineralization.

MN22-010 intersected 78 metres grading 0.18 per cent nickel, 0.011 per cent cobalt, 0.2 per cent chrome, 6 per cent iron, 16.6 per cent magnesium, 515 ppm arsenic, 0.01 ppm platinum and 0.01 ppm palladium from 64 to 141 metres.

Hole MN22-11 intersected 50 metres of 0.16 per cent nickel, 0.01 per cent cobalt, 0.17 per cent chrome, 6 per cent iron, 738 ppm arsenic, 0.008 ppm platinum and 0.007 ppm palladium. Hole MN22-11 ended in two metres of similar grades from 145 to 147. This hole was continued to 231 metres in the 2023 program. The hole has been logged and is in the process of being cut and sent to the lab for analysis.

The Bob zone has high grades of nickel, copper, cobalt and PGEs (platinum group elements) along an easterly trending fault zone traceable for up to 280 metres in length. The mineralization is hosted in altered gabbro (sericite-talc) and ultramafic rocks. The mineralization consists of massive pyrrhotite-nickel-copper-cobalt-platinum-palladium-rhodium-arsenic. This massive sulphide zone is mainly surrounded by a talc-sericite envelope which also hosts nickel, copper, cobalt and PGEs without the iron content.

Holes MN22-10 and 011 have a high background of arsenic similar to the high-grade nickel-copper-PGE results in the Bob zone. Visual logging of the core and localized X-ray fluorescence readings have identified blebs and narrow veinlets associated with bedding planes containing much higher grades than the average. These were not broken out individually during sampling but rather have been consolidated in one-metre sections.

The addition of elevated magnesium content in certain assay results presented here indicates an ultramafic host rock. In addition, arsenic is becoming a pathfinder mineral that, in many cases, aligns with nickel and PGEs. This knowledge will help guide further exploration drilling.

Spring 2023 drilling

All 2023 drilling has been logged and is being split for distribution to an ALS laboratory. Similar to the 2022 drill program, significant zones of ultramafic rocks were encountered with visually apparent sulphides distributed as disseminated zones with massive sulphide lenses. The drilling is widespread and distributed over a corridor of over five kilometres in length. These holes tested electromagnetic and magnetic anomalies identified during the 2022 work programs.

Additional work on the property will take advantage of the new EM and magnetic surveys and new understandings of the structure and surface geochemical targeting of arsenic. These advancements in understanding will provide vectoring in on further high grades of mineralization first identified in the Bob zone. The Tom, Derniere Chance and Sam areas stretch over a five-kilometre corridor from the Bob zone. These areas of known mineralization at surface and in single and multiple intercepts are of similar grades and widths to Bob.

Qualified persons and quality assurance/quality control

Herb Duerr, PGeo, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical contents of this news release.

The technical contents of this release were approved by George Yordanov, PGeo, an independent qualified person as defined by National Instrument 43-101.

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The company explores for nickel and PGEs on the Manicouagan and Julie projects on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor gold project. Headquartered in Montreal, St-Georges's stock is listed on the Canadian Securities Exchange under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early-stage and developing U.S. and international companies.