SouthGobi signs Cooperation Agreement with Aluminum Corporation of China Limited (CHALCO) and receives notification of CHALCO’s intention to make a proportional take-over bid at C$8.48 per share

HONG KONG – SouthGobi Resources Ltd. (“SouthGobi”) (TSX: SGQ, HK: 1878) announced today
that it has entered into a Cooperation Agreement with Aluminum Corporation of China Ltd. (“CHALCO”), and further announces that it has received notice that CHALCO intends to make a
proportional take-over bid for up to 60% of the issued and outstanding common shares of SouthGobi.

SouthGobi has been informed that CHALCO intends to make a take-over bid for up to 60% of the issued and outstanding common shares of SouthGobi at C$8.48 per share (“Proportional Offer”).SouthGobi has also been informed by its 57.6% major shareholder, Ivanhoe Mines Ltd. (“Ivanhoe”), that Ivanhoe has signed a lock-up agreement with CHALCO, committing to tender all of its shares held or thereafter acquired by it during the Offer Period of CHALCO into the Proportional Offer. The Proportional Offer will be made by way of a takeover bid circular under British Columbia law and will be made to all SouthGobi shareholders. If shareholders tender more than 60% of the outstanding common shares of SouthGobi to the take-over bid, a proportional amount of shares will be taken up from each shareholder. SouthGobi has not received any formal documentation relating to the Proportional Offer.

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