SouthGobi Resources : Announcements and Notices - OVERSEAS REGULATORY ANNOUNCEMENT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SOUTHGOBI RESOURCES LTD.

南戈壁資源有限公司*

(A company continued under the laws of British Columbia, Canada with limited liability)

(Hong Kong Stock Code: 1878)

(Toronto Stock Code: SGQ)

Overseas Regulatory Announcement

This announcement is made by SouthGobi Resources Ltd. (the "Company") pursuant to Rule 13.10B

of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange.

The following document of the Company was published on the website of the SEDAR filing system in Canada (www.sedar.com). It is enclosed hereto as overseas regulatory announcement.

For and on behalf of

SouthGobi Resources Ltd.

Allison Snetsinger

Corporate Secretary

Hong Kong, January 26, 2021

As at the date of this announcement, the executive director of the Company is Mr. Dalanguerban; the independent non-executive directors are Messrs. Yingbin Ian He, Mao Sun and Ms. Jin Lan Quan; and the non-executive directors are Messrs. Jianmin Bao, Zhiwei Chen, Ben Niu and Ms. Ka Lee Ku.

* For identification purposes only

1

SouthGobi Resources Ltd.

Report of Voting Results

(Section 11.3 of National Instrument 51-102)

In respect to the annual and special meeting of the shareholders of SouthGobi Resources Ltd. (the "Company") held on January 21, 2021, (the "Meeting"), the following sets forth a brief description of each matter which was voted upon at the Meeting and the outcome of the vote:

Appointment of Auditors- BDO Limited, Certified Public Accountants (Practicing), Hong Kong, was appointed as auditor of the Company to hold office for the ensuring year or until their successors are appointed. The ordinary resolution was passed by a majority of the votes cast by a show of hands.

The result of the vote by proxy with respect to the above matter is shown below:

Total votes in favour:	111,393,645 (100.00%)
Total votes withheld:	0 (0.00%)

Fixing the Number of Directors- The number of directors to be elected at the Meeting was fixed at eight. The ordinary resolution was passed by a majority of the votes cast by a show of hands.

The result of the vote by proxy with respect to the above matter is shown below:

Total votes in favour:	111,221,862 (99.999%)
Total votes against:	800 (0.001%)

Election of Directors- The eight director nominees set forth in the Company's Management Proxy Circular dated December 9, 2020 (the "Circular") were elected as directors to hold office for the ensuing year or until their successors are elected or appointed. The ordinary resolution was passed by a majority of the votes cast by ballot.

The result of the vote by ballot with respect to the above matter is shown below:

Dalanguerban	votes for:	111,218,674 (99.996%)
	votes withheld:	3,988	(0.004%)
Jianmin Bao	votes for:	111,214,674 (99.993%)
	votes withheld:	7,988	(0.007%)
Zhiwei Chen	votes for:	111,212,874 (99.991%)
	votes withheld:	9,788	(0.009%)
Yingbin Ian He	votes for:	111,212,874 (99.991%)
	votes withheld:	9,788	(0.009%)
Ka Lee Ku	votes for:	111,214,674 (99.993%)
	votes withheld:	7,988	(0.007%)
Ben Niu	votes for:	111,214,074	(99.92%)
	votes withheld:	8,588	(0.008%)
Jin Lan Quan	votes for:	111,216,062 (99.994%)
	votes withheld:	6,600	(0.006%)
Mao Sun	votes for:	111,216,062 (99.994%)
	votes withheld:	6,600	(0.006%)

2020 Deferral Agreement- The disinterested shareholders of the Company passed an ordinary resolution authorizing, approving and ratifying the deferral agreement dated November 19, 2020 (the "2020 Deferral Agreement") between Land Breeze II S.à.r.l, and Fullbloom Investment Corporation, each being a wholly-owned subsidiary of China Investment Corporation, the Company and certain of its subsidiaries, the actions of the directors of the Company in approving the 2020 Deferral Agreement (as more particularly described in the Circular) and the actions of the officers of the Company in executing and delivering the 2020 Deferral Agreement.

1

The ordinary resolution was passed by a majority of the votes cast by ballot. The result of the vote by ballot with respect to the above matter is shown below:

Total votes in favour:	111,213,362 (99.992%)
Total votes against:	9,300 (0.008%)
Disinterested shareholders:
Total votes in favour:	46,446,771 (99.980%)
Total votes against:	9,300 (0.020%)

Dated at Vancouver, British Columbia this 25th day of January, 2021.

SOUTHGOBI RESOURCES LTD.

"Allison Snetsinger"

By:

Allison Snetsinger

Corporate Secretary

2