SouthGobi Resources : Announcements and Notices - VOTING RESULTS OF THE SHAREHOLDERS MEETING

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)

VOTING RESULTS OF THE SHAREHOLDERS' MEETING

SouthGobi Resources Ltd. (the "Company") is pleased to announce the voting results of the annual and special meeting of shareholders of the Company (the "Shareholders' Meeting") held in Vancouver, Canada on January 21, 2021. At the Meeting, the majority of the Company's shareholders voted in favour of the following matters as set out in the Company's management proxy circular dated December 9, 2020 (the "Circular"), a copy of which is available under the Company's profile on SEDAR at www.sedar.com.

The voting results are as follows:

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.

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.

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

* For identification purposes only

1

Election of Directors- The eight director nominees set forth in the Company's 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.

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 November 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 November 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 November Deferral Agreement (as more particularly described in the Circular) and the actions of the officers of the Company in executing and delivering the 2020 November Deferral Agreement. The ordinary resolution was passed by a majority of the votes cast by ballot.

Total votes in favour:	46,446,771 (99.980%)
Total votes against:	9,300 (0.020%)

2

The Hong Kong Stock Exchange has granted the Company a waiver from strict compliance with Rule 13.39(4) of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (the "Listing Rules") which requires that any vote of shareholders at a general meeting must be taken by poll. Therefore, this announcement does not contain the specific information set out in Rule 13.39(5) of the Listing Rules.

If there is any inconsistency or discrepancy between the English version and the Chinese version, the English version shall prevail.

CONTINUED SUSPENSION OF TRADING

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

By order of the Board

SouthGobi Resources Ltd.

Mao Sun

Lead Director

Vancouver, January 25, 2021

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.

3