SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) announced today that La Mancha Fund SCSp (the “Fund”), a fund advised by La Mancha Capital Advisory LLP (“La Mancha”), has agreed to acquire a significant 19.9% stake in SRG.

Subject to final due diligence, execution of definitive documentation, and approval from La Mancha’s Investment Advisory Committee and the Fund’s manager, SRG will issue 22,442,941 common shares to the Fund (or its designated affiliate) through a private placement at a price of C$0.56 per share, yielding proceeds to SRG of approximately C$13 million (US$10 million). The Fund will come to own 19.9% of SRG’s issued and outstanding common shares when the placement is completed, establishing it as one of SRG’s largest shareholders.

Upon receipt of the proceeds, SRG will have cash and cash equivalents of approximately C$17 million (US$13 million) and no significant debt. SRG intends to use the proceeds to advance the Company’s large-scale Lola Graphite Project in the Republic of Guinea, to develop a fully integrated mine-to-market solution to supply active anode material to the European lithium-ion and fuel cell markets and for general corporate purposes.

About SRG Mining

SRG Mining is a Canadian-based mining company focused on developing the Lola Graphite Project located in the Republic of Guinea, West Africa. The Lola Graphite Project has a Measured and Indicated Resource of 46Mt at a grade of 4.1% Cg. SRG aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets. With attractive operating costs, proximity to European end-markets and strong ESG credentials, SRG is poised to become a reliable supplier while promoting sustainability and supply chain transparency. SRG is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.