SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) ('SouthGobi' or the 'Company') announces that that (i) the resolutions set out in the Management Proxy Circular of the Company dated May 18, 2023 (Vancouver time) (the 'Circular') were duly passed by ballot at the annual general meeting (the 'Meeting') of the shareholders of the Company (the 'Shareholders') held on June 20, 2023 (Vancouver time), at the offices of Dentons Canada LLP, 20th floor - 250 Howe Street, Vancouver, British Columbia, Canada; (ii) the Company's Chief Executive Officer (the 'CEO'), Mr. Ruibin Xu was elected as an executive director of the Company (each, a 'Director') and appointed the Chair of the Health, Environment, Safety and Social Responsibility Committee (the 'HESS Committee') and a member of the Operations Committee (the 'Operations Committee') immediately upon conclusion of the Meeting; (iii) Mr. Dong Wang ceased to be a non-executive Director, the Chair of the HESS Committee and a member of the Operations Committee immediately upon conclusion of the Meeting and (iv) Mr. Dalanguerban retired from his role as the Company's President.
VOTING RESULTS OF THE MEETING
Reference is made to the Circular. Unless the context otherwise requires, the capitalized terms used herein shall have the same meanings as those defined in the Circular.
CHANGE OF DIRECTORS AND COMPOSITION OF BOARD COMMITTEES
The Company is pleased to announce that the Company's CEO, Mr. Ruibin Xu ('Mr. Xu') was elected as an executive Director and appointed as Chair of the HESS Committee and a member of the Operations Committee immediately upon conclusion of the Meeting.
The biographical details of Mr. Xu is as below: Mr. Ruibin Xu, aged 52, has over 15 years' of experience in the energy and coal logistics industry, as well as financial investment. Mr. Xu served as a director and board secretary of Inner Mongolia Dajiang Runye Industrial Group Co. Ltd. ('Dajiang Group') from 2021 to 2023, where he was responsible for development strategy, energy investment, and capital operation affairs of the Dajiang Group. He also held the position of general manager in a subsidiary of Dajiang Group between 2018 and 2021. Before joining Dajiang Group, Mr. Xu served as the deputy general manager and board secretary of Inner Mongolia Zheng Tang Co. Ltd. from 2016 to 2018. Prior to that, he held the position of director in an investment company located in Inner Mongolia, China and worked for several companies in the financial investment industry. Mr. Xu has extensive experience in corporate governance, corporate financing and enterprise management.
Mr. Xu graduated from Inner Mongolia Radio and TV University in 2000 with a major in Computer Application (Financial Management). He obtained his Master's degree in Business Administration from Inner Mongolia University in 2007. In 2010, Mr. Xu obtained the qualification as a lawyer and an intermediate economist in China. In 2015, he completed an EMBA program at Inner Mongolia University.
There is no specific term or proposed length of service for Mr. Xu as executive director but Mr. Xu will be subject to retirement and re-election at the annual general meeting of the Company in accordance with the articles of continuation of the Company. Consistent with existing Directors' compensation, the director's fees for Mr. Xu will be determined by the board of directors of the Company (the 'Board') based on the recommendation of the Compensation and Benefits Committee of the Board, which is comprised of independent non-executive directors of the Company.
As at the date of this announcement, save as disclosed above, Mr. Xu does not (i) hold any directorships in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas, over the last three years preceding the date of this announcement or other major appointments and professional qualifications; (ii) hold any other position with any member of the Company and its subsidiaries (the 'Group') and has not previously held any other position with any member of the Group; (iii) have any interest in the shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and (iv) have any relationship with any Directors, senior management, or substantial or controlling Shareholders.
Saved as disclosed above, there is no other information relating to the appointment of Mr. Xu that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Hong Kong Listing Rules nor any matters that need to be brought to the attention of the Shareholders.
The Board would like to welcome Mr. Xu for joining the Board.
Mr. Dong Wang ('Mr. Wang') was not nominated for re-election at the Meeting. Following the Meeting, Mr. Wang ceased to be a non-executive Director, the Chair of the HESS Committee and a member of the Operations Committee.
RETIREMENT OF PRESIDENT
The Company hereby announces that Mr. Dalanguerban, the President of the Company, will retire from his position with effect from June 21, 2023 (Hong Kong time). Mr. Dalanguerban has confirmed that he has no disagreement with the Board or the senior management of the Company, and that there are no matters relating to his resignation that need to be brought to the attention of the Shareholders and the Hong Kong Stock Exchange. The Board expressed its great gratitude to Mr. Dalanguerban for his leadership, guidance and commitment to the Company since his appointment in 2020.
About SouthGobi
SouthGobi, listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.
Contact:
Email: info@southgobi.com
SOUTHGOBI RESOURCES LTD. 
