Southern Gold : Corporate Presentation - September 2022

SOUTHERNGOLD

South Korea

Corporate Presentation

September 2022 ASX Ticker: SAU

SOUTHERNGOLDDisclaimer

Forward-looking statements

The information in this presentation is published to inform you about Southern Gold Limited ("Southern Gold") and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may include, without limitation:

Estimates of future cash flows, the sensitivity of cash flows to metal prices and foreign exchange rate movements;

Estimates of future metal production; and

Estimates of the resource base and statements regarding future exploration results and increasing the company's resource base

Such forward looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. Such statements are expressed in good faith and believed to have a reasonable basis. However, the estimates are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from estimatedresults.

All reasonable efforts have been made to provide accurate information, but the Company does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events or circumstances after the date of this presentation, except as me be required under applicable laws. Recipients should make their own enquiries in relation to any investment decisions from a licensed investment advisor.

Competent Person's statements

The information in this report that relates to Exploration Results has been compiled by Mr Robert Smillie (MAusIMM). Mr Smillie, who is Managing Director and Exploration Manager at Southern Gold Limited and a Fellow of the Australasian Institute of Mining and Metallurgy, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserveses. Mr Smillie consents to the inclusion in this presentation of the matters based on the information in the form and context in which it appears.

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Southern Gold: Focused Strategy

Aim: Discovery of high-grade precious metal deposits in South Korea

• 100% focus on South Korea
• Focus on Au-Ag-Cu
• Under-explored,stable jurisdiction
• First-moveradvantage
• Highly experienced team; well established in-country
• Project generation focus

Southern Gold is a

country play focused on

South Korea

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South Korea: Geologic Context

Cretaceous-Age Mineral Deposits NE Asia
Epithermal vein
	• NE Asia is an emerging world-
	class metallogenic province
	with extensive and diverse
	mineral deposits
	• Major precious metal
	mineralising event occurred in
	the Cretaceous Period 145-70
	million years ago
	• South Korea part of this
	Cretaceous-age mineral
	province - hosts one of the
	world's largest tungsten mines
	• South Korea massively under-
	explored - Frontier exploration
	destination
	• SAU only company actively
Mao et al 2021	exploring in South Korea - first
mover advantage.
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South Korea: Historical Context

Epithermal vein discovery 1988

First recognition of epithermal mineralisation in South Korea: Colloform banded quartz - rhodochrosite - base metal sulphide vein, Tongyeong Mine, 1988. Kirwin et al

15m wide Lighthouse Vein		Cut slab of Lighthouse
southern coast of Gasado Island.		Vein, colloform banded
Doug Kirwin for scale.		epithermal Au-Ag

	Eunsan: 3.61m @ 603.64g/t		Eunsan Mine, 2002		Processing plant in 2019: Eunsan, Moisan and
	Au & 4264g/t Ag*		"Direct shipping" bonanza ore.		Gasado mined deposits were all Ivanhoe discoveries
*Ivanhoe Mines historical result 1998-1999, not compliant with JORC Code 2012	5