Ms. Neha Tally reports

STATEMENT OF OUT-OF-COURT SETTLEMENT BETWEEN ST-GEORGES & BWA GROUP

A satisfactory out-of-court settlement has been reached between St-Georges Eco-Mining Corp. and BWA Group PLC. The settlement will result in the termination of the legal proceeding initiated in Quebec against St-Georges by BWA Group, the counterlegal proceedings introduced in Quebec by St-Georges against Kings of the North and BWA Group jointly, and the legal proceedings in the High Court of Justice of England and Wales in the United Kingdom by St-Georges against BWA Group.

All the parties will be responsible for their respective legal fees in these matters.

Kings of the North, wholly owned by BWA Group since its acquisition from St-Georges in September, 2019, will be solely responsible for the royalties and other regulatory obligations on the Winterhouse and Isoukustouc projects, with all other remaining obligations by St-Georges regarding Isoukustouc and Winterhouse being terminated.

All earn-ins and options on other projects, including the Villebon project, are recognized by all the parties as being extinguished. St-Georges will retain majority ownership (90 per cent) of the Villebon project, with the remaining 10 per cent owned equally by Fancamp Exploration Ltd. and Sheridan Platinum Ltd.

St-Georges will convert an amount of 731,124 pounds sterling (approximately $1.2-million) of its loan notes into common shares of BWA Group. The converted shares will be restricted from voting for three years on matters pertaining to the election of directors of BWA or matters of management composition.

The rest of the loan notes owned by St-Georges will be returned to BWA Group without additional compensation to be cancelled.

Some minority loan noteholders have also agreed to return their notes to BWA Group for cancellation. These include some management and directors of St-Georges in the persons of Francois Dumas, Mark Billings and Neha Tally, who agreed to do so without compensation.

The out-of-court settlement was authorized by way of resolution by the board of directors of St-Georges on Feb. 16, 2024. The company does not believe this settlement consists of a significant transaction or change on the company's financial statements. All liability provisions that were established in this regard will be eliminated.

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 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 has stock 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.