SouthGobi Announces Additional Resumption Guidance From the Hong Kong Stock Exchange

VANCOUVER, Dec. 08, 2020 - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) announces that the Company received a letter from the Hong Kong Stock Exchange on December 3, 2020, setting out the additional resumption guidance for the Company. Reference is made to the announcement of the Company dated November 16, 2020 (the “Announcement”). Unless otherwise stated herein, capitalized terms used herein shall have the same meanings as that ascribed to them in the Announcement.

ADDITIONAL RESUMPTION GUIDANCE

Further to the resumption guidance issued by the Hong Kong Stock Exchange as disclosed in the Announcement, the Company received a letter from the Hong Kong Stock Exchange on December 3, 2020, setting out the following additional resumption guidance for the Company:

• demonstrate compliance with Rule 13.24 of the Hong Kong Listing Rules.
  

The Company is taking active steps to fulfill the resumption guidance issued by the Hong Kong Stock Exchange to resume trading at the earliest possible date and the Company expects to announce an update of the implementation progress of the resumption plan within the next 30 days.

CONTINUED SUSPENSION OF TRADING

Trading in the common shares of the Company on the TSX and Hong Kong Stock Exchange has been suspended since June 19, 2020 and August 17, 2020 respectively and will remain suspended until further notice.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. SouthGobi produces and sells coal to customers in China.