Ms. Neha Tally reports

CLOSING OF ANOTHER TRANCHE OF THE ONGOING PRIVATE PLACEMENT OFFERING

St-Georges Eco-Mining Corp. has closed a $350,000 tranche of its previously announced non-brokered private placement of units at a price of 10 cents per unit. An aggregate of 3.5 million units was issued under the second tranche.

Each unit consists of one common share in the capital of the corporation and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of 15 cents until the date that is 24 months from the issuance date of the warrant.

In connection with this second tranche, the corporation paid cash finders' fees of $7,200 and issued 90,000 compensation warrants to Raymond James Ltd. Each compensation warrant entitles the holder to purchase one share at a price of 15 cents until the date that is 24 months from the issuance date of the compensation warrant.

All securities issued in connection with the private placement are subject to a statutory hold period of four months and a day from the closing of each tranche of the private placement in accordance with applicable securities laws. The corporation will use the proceeds of the private placement toward its battery recycling operation and general working capital.

Multilateral Instrument 61-101

Certain insiders of the corporation participated in the second tranche for a total of $75,000, which is a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The issuances to the insiders are exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as the corporation's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25 per cent of the corporation's market capitalization.

Continuing financing offering

A first tranche of $655,000, including $223,000 insider participation, was closed on Sept. 14, 2023.

This second tranche of $350,000 was closed to accommodate certain placees, while it is expected that other interested participants will be in a position to finalize their placement before the end of the year. St-Georges expects to use the proceeds of this offering in connection with its battery recycling operations at the Thorold plant in the Niagara region in Ontario.

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 (platinum group elements) 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. Companies are current in their reporting and undergo an annual verification and management certification process.