Results include 0.5 m @ 164.3 g/t AuEq (96.8 g/t Au, 28.2% Sb)

Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) announces results from four diamond drill holes from the Golden Dyke prospect, of the 100%-owned Sunday Creek gold-antimony project in Victoria (Figures 1 to 5).

Four Key Points

1. Golden Dyke increasing in size – Drilling has extended the gold system to 560 m deep (one of the deepest holes yet) and discovered two completely new gold veins 50 m west of the known area, showing the deposit continues to grow in all directions.
2. Very high-grade gold hits – Multiple holes returned exceptional gold grades including 164.3 g/t gold over 0.5 m, confirming Golden Dyke contains extremely rich gold zones.
3. Infill drilling proves continuity – Hole SDDSC171 successfully filled a 100 m to 110 m gap between previous holes and confirmed the gold continues consistently through this area, building confidence that the mineralization is connected rather than patchy.
4. Record antimony adds significant value – The drilling returned the third highest antimony result ever recorded at the project (48.9% Sb), confirming Sunday Creek as a valuable dual-commodity deposit with both gold and antimony, a critical metal in high demand, strengthening the overall economic potential of the project.

Michael Hudson, President & CEO, states: “The Golden Dyke system continues to grow in all directions, with our latest drilling extending mineralization both laterally and at depth while revealing new high-grade zones. SDDSC168W1 has pushed the western side of Golden Dyke vertically to 560 m below surface, representing one of our deepest east-west holes and delivering spectacular intercepts including 164.3 g/t AuEq over 0.5 m and 170.2 g/t AuEq over 0.2 m. While SDDSC175 successfully extended the system westward toward Christina by 50 m, intercepting nine vein sets including two previously unknown structures outside our current exploration target, with mineralization from as shallow as 50 m below surface returning impressive widths such as 11.6 m @ 3.4 g/t AuEq.

“Equally important, our strategic infill drilling is building tremendous confidence in the continuity and tenor of the system. SDDSC171 infilled a gap of approximately 100 m to 110 m of vertical spacing between the previous holes and again successfully confirmed the grade continuity across Golden Dyke. This was demonstrated by intercepts including 0.9 m @ 68.1 g/t AuEq, 4.2 m @ 4.5 g/t AuEq, and 2.8 m @ 13.7 g/t AuEq, while also discovering high-grade mineralization in a previously unmodeled vein set.

“The combination of consistent expansion success, high-grade intercepts, broader mineralized zones, and confirmed continuity from infill drilling reinforces our conviction that the Sunday Creek gold-antimony system has substantial growth potential as we continue to systematically test and expand the known mineralized corridor.”

FOR THOSE WHO LIKE THE DETAILS

Key Take Aways

Four diamond drill holes from the Golden Dyke prospect have expanded the system to 560 m depth with high grades of gold up to 168.0 g/t and of antimony up to 48.9%. New vein sets were discovered 50 m west of known mineralization, and shallow mineralization was confirmed from 50 m depth with widths including 11.6 m @ 3.4 g/t AuEq. Infill drilling successfully bridged a 110 m gap between holes, confirming grade continuity with intercepts including 0.9 m @ 68.1 g/t AuEq.

An additional rig has been mobilized to site for a total of nine rigs now operating at Sunday Creek.

Drill hole highlights include:

SDDSC168W1: 

• One of the deepest east-west holes at Golden Dyke, successfully intercepted five vein sets in Golden Dyke and extended the western side of Golden Dyke vertically to 560 m below surface. Highlights include:
  • 0.2 m @ 170.2 g/t AuEq (168.0 g/t Au, 0.9% Sb) from 723.4 m
  • 0.5 m @ 164.3 g/t AuEq (96.8 g/t Au, 28.2% Sb) from 776.4 m being the third highest antimony result recorded on the project

SDDSC171: 

• An east-west in-fill hole intercepted six known vein sets plus one new vein set. The hole infilled a gap of approximately 100 m to 110 m of vertical spacing between the previous holes and again successfully confirmed the grade continuity across Golden Dyke
  • 0.2 m @ 119.8 g/t AuEq (117.0 g/t Au, 1.2% Sb) from 457.6 m
  • 0.9 m @ 68.1 g/t AuEq (68.1 g/t Au, 0.0% Sb) from 166.1 m
  • 0.2 m @ 56.6 g/t AuEq (36.2 g/t Au, 8.5% Sb) from 427.5 m

SDDSC175: 

• A west-east oriented hole that extended Golden Dyke system 50 m westward into undrilled areas. The hole intercepted nine vein sets including two previously unknown ones and intersected mineralization ~50 m below surface, demonstrating shallow depth potential. The hole supports the potential expansion toward Christina. Highlights included:
  • 11.6 m @ 3.4 g/t AuEq (1.8 g/t Au, 0.7% Sb) from 329.6 m

Drill Hole Discussion

SDDSC168 and SDDSC168W1

SDDSC168W1 successfully intercepted five vein sets in Golden Dyke and returned exceptional high-grade gold and antimony mineralization. Significant individual results including 168 g/t Au and 0.9% Sb over 0.2 m from 723.4 m, and 68.2 g/t Au and 48.9% Sb over 0.3 m from 776.4 m, with the antimony results representing the third highest individual antimony result recorded on the project to date. SDDSC168W1 represents one of the deepest holes reported at Golden Dyke with the western side of Golden Dyke extended vertically 560 m below surface. These significant grades alongside the textural recognition of two high-grade vein sets (GD70 and GD90) highlight the tenor of Golden Dyke as further drilling continues to target and expand the high-grade mineralization.

Key highlights include:

• 1.9 m @ 16.5 g/t AuEq (16.3 g/t Au, 0.1% Sb) from 723.4 m, including:
  • 0.2 m @ 170.2 g/t AuEq (168.0 g/t Au, 0.9% Sb) from 723.4 m
• 0.4 m @ 27.3 g/t AuEq (27.3 g/t Au, 0.0% Sb) from 760.0 m
• 0.5 m @ 164.3 g/t AuEq (96.8 g/t Au, 28.2% Sb) from 776.4 m

SDDSC168 was drilled east-west to intercept the lower Golden Dyke system, the hole was abandoned after exiting mineralization early due to deviation and re-drilled as wedge hole (SDDSC168W1 see above) to target the Golden Dyke system. The periphery of RS01 vein set was intercepted in the hole. Highlights include:

• 2.4 m @ 2.9 g/t AuEq (1.4 g/t Au, 0.6% Sb) from 458.6 m
• 1.7 m @ 8.6 g/t AuEq (1.3 g/t Au, 3.1% Sb) from 471.8 m, including:
  • 1.3 m @ 11.6 g/t AuEq (1.8 g/t Au, 4.1% Sb) from 472.2 m

SDDSC171

SDDSC171 was drilled as an infill hole targeting the Golden Dyke system. The east-west oriented hole intercepted six known vein sets within the Golden Dyke system and intersected high-grade in a previously unmodelled vein set at 130 m vertically below surface (166 m downhole). SDDSC171 was positioned to infill a gap of approximately 100 m to 110 m of vertical spacing between the previous holes SDDSC130 and SDDSC132, successfully confirming the continuity of high-grade mineralization within the Golden Dyke system.

Key highlights include:

• 0.9 m @ 68.1 g/t AuEq (68.1 g/t Au, 0.0% Sb) from 166.1 m
• 0.4 m @ 47.1 g/t AuEq (7.9 g/t Au, 16.4% Sb) from 171.6 m
• 0.2 m @ 56.6 g/t AuEq (36.2 g/t Au, 8.5% Sb) from 427.5 m
• 2.8 m @ 13.7 g/t AuEq (9.8 g/t Au, 1.6% Sb) from 457.1 m, including:
  • 0.2 m @ 119.8 g/t AuEq (117.0 g/t Au, 1.2% Sb) from 457.6 m
• 0.8 m @ 16.6 g/t AuEq (5.1 g/t Au, 4.8% Sb) from 459.1 m
• 4.2 m @ 4.5 g/t AuEq (2.8 g/t Au, 0.7% Sb) from 502.8 m
• 1.4 m @ 8.9 g/t AuEq (5.1 g/t Au, 1.6% Sb) from 503.8 m

SDDSC175

SDDSC175, drilled on a west-east orientation, has successfully extended the Golden Dyke system by 50 m to the west of known vein sets with mineralization intersected approximately 50 m vertically below surface, highlighting the potential for mineralization from very shallow depths. The hole intercepted nine vein sets, including two previously unknown vein sets located outside the current exploration target area. This result demonstrates the potential for further expansion west of the Golden Dyke system towards Christina and supports the Company’s strategy to systematically target extensions of the known mineralized corridor.

Key highlights include:

• 6.0 m @ 1.4 g/t AuEq (1.4 g/t Au, 0.0% Sb) from 163.0 m
• 1.7 m @ 6.6 g/t AuEq (5.8 g/t Au, 0.3% Sb) from 203.4 m, including:
  • 0.6 m @ 18.0 g/t AuEq (17.3 g/t Au, 0.3% Sb) from 204.6 m
• 3.4 m @ 3.5 g/t AuEq (3.2 g/t Au, 0.1% Sb) from 262.6 m, including:
  • 1.0 m @ 8.8 g/t AuEq (8.4 g/t Au, 0.2% Sb) from 264.0 m
• 1.7 m @ 8.6 g/t AuEq (5.7 g/t Au, 1.2% Sb) from 312.1 m, including:
  • 1.4 m @ 9.8 g/t AuEq (6.5 g/t Au, 1.4% Sb) from 312.1 m
• 0.8 m @ 13.4 g/t AuEq (11.4 g/t Au, 0.8% Sb) from 318.9 m
• 11.6 m @ 3.4 g/t AuEq (1.8 g/t Au, 0.7% Sb) from 329.6 m, including:
  • 1.8 m @ 4.5 g/t AuEq (2.5 g/t Au, 0.8% Sb) from 330.6 m
  • 0.6 m @ 12.6 g/t AuEq (3.8 g/t Au, 3.7% Sb) from 334.4 m
  • 2.0 m @ 4.7 g/t AuEq (2.7 g/t Au, 0.8% Sb) from 339.2 m

Pending Results and Program Update

An additional rig has been mobilized to site for a total of nine rigs now operating at Sunday Creek. Eight rigs are infill and extension drilling across a 1.6 km strike, with one rig targeting regional exploration targets. A total of 37 holes are currently being processed and analyzed. Nine additional holes are actively being drilled.

About Sunday Creek

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares of granted exploration tenements. SXGC is also the freehold landholder of 1,054.51 Ha that forms the key portion in and around the main drilled area at the Sunday Creek Project.

Cumulatively, 187 drill holes for 88,812.55 m have been reported from Sunday Creek since late 2020. Five holes for 929 m have been drilled for geotechnical purposes. An additional 14 holes for 2990.95 m from Sunday Creek were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008. The project now contains a total of sixty-six (66) >100 g/t AuEq x m and seventy-five (75) >50 to 100 g/t AuEq x m drill holes by applying a 2 m @ 1 g/t AuEq lower cut.

Our systematic drill program is strategically targeting these significant high-grade vein formations. Initially these have been defined over 1,500 m strike of the host from Christina to Apollo prospects, of which approximately 620 m have been more intensively drill tested (Rising Sun to Apollo). At least 77 ‘rungs’ have been defined to date, defined by high-grade intercepts (20 g/t to >7,330 g/t Au) along with lower grade edges. Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figures 1 to 3).

Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.

Further Information

Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D animations, presentations and videos all available on the SXGC website.These data, along with an interview on these results with Michael Hudson, President & CEO, can be viewed at www.southerncrossgold.com.

No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However, during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company notes that due to rounding of assay results to one significant figure, minor variations in calculated composite grades may occur.

Figures 1 to 5 show project location, plan, longitudinal views and analysis of drill results reported here and Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported is approximately 45% to 70% of the sampled thickness for other reported holes. Lower grades were cut at 1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff over a maximum of 1 m width.

Critical Metal Epizonal Gold-Antimony Deposits

Sunday Creek is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of formation: epizonal (<6 km), mesozonal (6-12 km) and hypozonal (>12 km).

Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to a 2023 European Union study. Antimony features highly on the critical minerals lists of many countries including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria, located nearby to all SXG projects. Antimony alloys with lead and tin which results in improved properties for solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen-containing flame retardants. Adequate supplies of antimony are critical to the world’s energy transition, and to the high-tech industry, especially the semi-conductor and defence sectors where it is a critical additive to primers in munitions.

Antimony represents approximately 21% to 24% in situ recoverable value of Sunday Creek at an AuEq of 2.39 ratio.

In August 2024, the Chinese government announced it would place export limits from September 15, 2024 on antimony and antimony products. This puts pressure on Western defence supply chains and negatively affects the supply of the metal and pushes up pricing given China’s dominance of the supply of the metal in the global markets. This is positive for SXGC as we are likely to have one of the very few large and high-quality projects of antimony in the western world that can feed western demand into the future.

Antimony Exempt from Executive Order on Reciprocal Tariffs

Southern Cross Gold Consolidated notes that antimony ores and concentrates (HTSUS code 26171000) are exempt from the April 2, 2025 US Executive Order on Reciprocal Tariffs. The exemption covers antimony ores and concentrates as well as unwrought antimony, antimony powders, antimony waste and scrap, and articles of antimony (HTSUS codes 81101000, 81102000, and 81109000).

About Southern Cross Gold Consolidated Ltd.

Southern Cross Gold Consolidated Ltd. controls the Sunday Creek Gold-Antimony Project located 60 km north of Melbourne, Australia. Sunday Creek has emerged as one of the Western world’s most significant gold and antimony discoveries, with exceptional drilling results including 66 intersections exceeding 100 g/t AuEq x m from just 88 km of drilling. The mineralization follows a “Golden Ladder” structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m depth.

Sunday Creek’s strategic value is enhanced by its dual-metal profile, with antimony contributing approximately 20 % of the in-situ value alongside gold. This has gained increased significance following China’s export restrictions on antimony, a critical metal for defense and semiconductor applications. Southern Cross’ inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia’s AUKUS-related legislative changes position it as a potential key Western antimony supplier. Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential.

Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 92-96% through gravity and flotation.

With a strong cash position, over 1,000 Ha of strategic freehold land ownership, and a large 60 km drill program planned through Q3 2025, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction.

This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.

NI 43-101 Technical Background and Qualified Person

Michael Hudson, President and CEO and Managing Director of SXGC, and a Fellow of the Australasian Institute of Mining and Metallurgy, and Mr Kenneth Bush, Exploration Manager of SXGC and a RPGeo (10315) of the Australian Institute of Geoscientists, are the Qualified Persons as defined by the NI 43-101. They have prepared, reviewed, verified and approved the technical contents of this release.

Analytical samples are transported to the Bendigo facility of On Site Laboratory Services which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 g charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-MS analysis. The QA/QC program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold and antimony content, blanks within interpreted mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the analytical process.

SXGC considers that both gold and antimony that are included in the gold equivalent calculation have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Mandalay Resources Ltd contains two million ounces of equivalent gold (Mandalay Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony.

SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its 2024 End of Year Mineral Reserves and Resources Press Release, dated February 20, 2025. The gold equivalence formula used by Mandalay Resources was calculated using Costerfield’s 2024 production costs, using a gold price of US$2,500 per ounce, an antimony price of US$19,000 per tonne and 2024 total year metal recoveries of 91% for gold and 92% for antimony, and is as follows:

AuEq = Au (g/t) + 2.39 × Sb (%)

Based on the latest Costerfield calculation and given the similar geological styles and historic toll treatment of Sunday Creek mineralization at Costerfield, SXGC considers that a AuEq = Au (g/t) + 2.39 × Sb (%) is appropriate to use for the initial exploration targeting of gold-antimony mineralization at Sunday Creek.

Figure 1: Sunday Creek plan view showing selected results from holes SDDSC168, SDDSC168W1, SDDSC171, and SDDSC175 reported here (dark blue highlighted box, black trace), with selected prior reported drill holes.

Figure 2: Sunday Creek plan view showing selected drillhole traces from holes SDDSC168, SDDSC168W1, SDDSC171, and SDDSC175 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue).

Figure 3: Sunday Creek longitudinal section across A-B in the plane of the dyke breccia/altered sediment host looking towards the north (striking 236 degrees) showing mineralized veins sets. Showing holes SDDSC168, SDDSC168W1, SDDSC171, and SDDSC175 reported here (dark blue highlighted box, black trace), with selected intersections and prior reported drill holes. The vertical extents of the vein sets are limited by proximity to drill hole pierce points.

Figure 4: Sunday Creek regional plan view showing soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas tested by 12 holes for 2,383 m drill program. The regional drill areas are at Tonstal, Consols and Leviathan located 4,000-7,500 m along strike from the main drill area at Golden Dyke- Apollo.

Figure 5: Location of the Sunday Creek project, along with the 100% owned Redcastle Gold-Antimony Project

Table 1: Drill collar summary table for recent drill holes in progress.

Table 2: Table of mineralized drill hole intersections reported from SDDSC168, SDDSC168W1, SDDSC171, and SDDSC175 with two cutoff criteria. Lower grades cut at 1.0 g/t AuEq lower cutoff over a maximum of 2 m with higher grades cut at 5.0 g/t AuEq cutoff over a maximum of 1 m. Significant intersections and interval depths are rounded to one decimal place.

Table 3: All individual assays reported from SDDSC168, SDDSC168W1, SDDSC171, and SDDSC175 reported here >0.1g/t AuEq. Individual assay and sample intervals are reported to two decimal places.