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 completed a non-brokered private placement in SRG, previously announced on March 16, 2022 (“Private Placement”).

The Private Placement is an important first step by SRG and La Mancha to accelerate development of the Lola Graphite Project and downstream processing strategy to develop a fully integrated mine-to-market solution to supply active anode material to the European lithium-ion and fuel cell markets. SRG now has cash and cash equivalents of approximately C$17 million (US$13 million) and no significant debt. SRG will work closely with La Mancha, during the development phase of the project, to ensure the Fund’s continued participation in subsequent financings to advance SRG towards production.

About SRG Mining

SRG Mining Inc. 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 Probable Reserves of 42Mt at a grade of 4.2% 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.