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Michael Hudson, President & CEO of SXGC states: “Golden Dyke continues to deliver exceptional high-grade results. The discovery of a new high-grade structure in SDDSC151 has substantial implications for expanding our resource potential, giving an intriguing hint of the parallel mineralized systems throughout the project. Consistent extremely high-grade intercepts across multiple high-grade structures in the same hole including hits like 1.2 m @ 96.7 g/t Au, 1.4 m @ 37.3 g/t Au and 0.4 m @ 129.6 g/t Au, surrounded by broader halos demonstrate the extraordinary richness of this system.

“With 61 intersections exceeding 100 g/t AuEq x m from just 75 km of drilling, we’re seeing mineralization signatures that place Sunday Creek firmly as globally significant gold-antimony system that Victoria is now recognized for, having produced two globally significant gold discoveries in the last decade. Our six-rig drilling program underscores our confidence in rapidly advancing this strategic asset that combines exceptional gold economics with critical antimony exposure at a time of increasing geopolitical importance.

“The Sunday Creek project is the one of the only Tier 1 independently owned, greenfield and high-grade, projects globally with multi-million ounce potential. Gold companies have suffered from an under-investment in new projects which has materially increased the scarcity value for new projects that deliver high-grade ounces in low-risk jurisdictions – attributes that Sunday Creek is almost unique in holding with limited global peers.”

FOR THOSE WHO LIKE THE DETAILS

Drill Hole Discussion

Mineralization in SDDSC147 and SDDSC151 was intercepted between vertical depths of 320 m to 620 m from the surface (130 m to 445 m below the base of Golden Dyke workings). The two drillholes are the deepest east-west oriented holes at Golden Dyke and represent a 90 m to 120 m down dip extension (from SDDSC141, reported 28 November, 2024) of multiple mineralized structures (Figures 1 and 2).

SDDSC151 was drilled to test the footwall (FW) and intersected four distinct vein sets along with a high-grade (HG) zone hosted within a sub-parallel and sub-vertical dyke at 382.2 m depth. This is important as this previously unrecognized host position demonstrates upside to expand mineralization at Golden Dyke in potential parallel zones. The hole drilled a 120 m zone of mineralization in the footwall zone at Golden Dyke. Notably, the hole returned:
• One interval exceeding 100 gram-metres AuEq
o 5.4 m @ 29.8 g/t AuEq (29.6 g/t Au, 0.1% Sb) from 584.3 m
• Two intervals between 50 and 100 gram-metres AuEq
o 3.2 m @ 18.0 g/t AuEq (18.0 g/t Au, 0.0% Sb) from 382.2 m
o 4.2 m @ 13.5 g/t AuEq (13.2 g/t Au, 0.1% Sb) from 604.5 m

Extended highlights include:
• 3.2 m @ 18.0 g/t AuEq (18.0 g/t Au, 0.0% Sb) from 382.2 m
o 0.4 m @ 129.7 g/t AuEq (129.6 g/t Au, 0.0% Sb) from 382.4 m
• 0.2 m @ 16.1 g/t AuEq (16.1 g/t Au, 0.0% Sb) from 430.7 m
• 5.4 m @ 29.8 g/t AuEq (29.6 g/t Au, 0.1% Sb) from 584.3 m
o 4.7 m @ 33.7 g/t AuEq (33.5 g/t Au, 0.1% Sb) from 585.0 m
• 0.6 m @ 4.2 g/t AuEq (4.1 g/t Au, 0.1% Sb) from 596.2 m
• 4.2 m @ 13.5 g/t AuEq (13.2 g/t Au, 0.1% Sb) from 604.5 m
o 1.4 m @ 37.3 g/t AuEq (37.3 g/t Au, 0.0% Sb) from 606.8 m
• 0.3 m @ 9.0 g/t AuEq (2.8 g/t Au, 2.6% Sb) from 624.9 m
• 0.4 m @ 78.7 g/t AuEq (78.7 g/t Au, 0.0% Sb) from 641.2 m
o 0.1 m @ 270.0 g/t AuEq (270.0 g/t Au, 0.0% Sb) from 641.2 m

SDDSC147 drilled a 235 m zone of mineralization in the hanging wall zone at Golden Dyke, expanding the potential strike length and demonstrating continuity of mineralization. The broad prospective window reinforces the geological model and provides additional targets for follow-up drilling. Highlights include:
• 1.3 m @ 8.0 g/t AuEq (7.9 g/t Au, 0.0% Sb) from 19.3 m
• 1.3 m @ 9.3 g/t AuEq (9.3 g/t Au, 0.0% Sb) from 134.4 m
o 0.9 m @ 11.3 g/t AuEq (11.3 g/t Au, 0.0% Sb) from 134.7 m
• 3.2 m @ 1.0 g/t AuEq (1.0 g/t Au, 0.0% Sb) from 805.0 m

Pending Results and Update

The drilling programme continues to advance with fifteen holes (SDDSC149, 149W1, 152, 154-160, 155A, 157A, 163, 164, 165) currently being processed and analysed. Six additional holes (SDDSC160W1, 161, 162, 163A, 166, 167) are actively being drilled.

The drilling strategy employs a systematic approach to intersect both the dyke host structure ("ladder rails") 

and associated mineralized vein sets ("ladder rungs") at optimal angles, continuing to expand the project’s mineralized footprint while improving geological understanding of the system.

About Sunday Creek

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares (“Ha”) of granted exploration tenements (Figure 3). Southern Cross Gold 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, 

Gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the “host”). These vein sets are like a “Golden Ladder” structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the gold forming the rungs.  At Apollo and Rising Sun these individual ‘rungs’ have been defined over 600 m depth extent from surface to over 1,100 m below surface, are 2.4 m to 3.8 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike.

Cumulatively, 164 drill holes for 75,013.51 m have been reported from Sunday Creek since late 2020. An additional 12 holes for 582.55 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-one (61) >100 g/t AuEq x m and sixty-nine (69) >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 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 has been more intensively drill tested (Rising Sun to Apollo). At least 70 ‘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 (Figure 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 Southern Cross Gold’s website.  These data, along with an interview on these results with Managing Director Michael Hudson 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 4 show project location, plan and longitudinal views 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 30-50% 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 unless specified unless otherwise* specified to demonstrate higher grade assays.

Critical Metal Epizonal Gold-Antimony Deposits

Sunday Creek (Figure 4) 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.

In August 2024, the Chinese government announced it will place export limits from September 15, 2024 on antimony and antimony products. This puts pressure on Western defence supply chains and negatively affect the supply of the metal and push up pricing given China’s dominance of the supply of the metal in the global markets. This is positive for Southern Cross Gold 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 represents approximately 21 to 24% in situ recoverable value of Sunday Creek at an AuEq of 2.39.

About Southern Cross Gold Consolidated Ltd. (TSXV:SXGC) (ASX:SX2)

Southern Cross Gold Consolidated Ltd. (TSXV:SXGC, ASX:SX2) controls the Sunday Creek Gold-Antimony Project located 60 kilometres 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 61 intersections exceeding 100 g/t AuEq x m from just 75 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 20% of the in-situ value alongside gold. This has gained increased significance following China’s export restrictions on antimony, a critical metal for defence and semiconductor applications. Southern Cross’ inclusion in the US Defence 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 93-98% through gravity and flotation.

With A$18M in cash, over 1,000 Ha of strategic freehold land ownership, and a large 60 km drill program planned through Q3 2025, Southern Cross Gold is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction.

NI 43-101 Technical Background and Qualified Person

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

Analytical samples are transported to the Bendigo facility of On Site Laboratory Services (“On Site”) 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.

Southern Cross Gold considers that both gold and antimony that are included in the gold equivalent calculation (“AuEq") have reasonable potential to be recovered 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.

Southern Cross Gold 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, Southern Cross Gold 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.

JORC Competent Person Statement

Information in this announcement that relates to new exploration results contained in this report is based on information compiled by Mr Kenneth Bush and Mr Michael Hudson. Mr Bush is a Member of Australian Institute of Geoscientists and a Registered Professional Geologist and Member of the Australasian Institute of Mining and Metallurgy and Mr Hudson is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Bush and Mr Hudson each have sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Exploration Manager and Mr Hudson is Managing Director of Southern Cross Gold Limited and both consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Certain information in this announcement that relates to prior exploration results is extracted from the Independent Geologist’s Report dated 11 December 2024 which was issued with the consent of the Competent Person, Mr Steven Tambanis. The report is included the Company’s prospectus dated 11 December 2024 and is available at www.asx.com.au under code “SX2”. The Company confirms that it is not aware of any new information or data that materially affects the information related to exploration results included in the original market announcement. The Company confirms that the form and context of the Competent Persons’ findings in relation to the report have not been materially modified from the original market announcement.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original document/announcement and the Company confirms that the form and context in which the Competent Person’s findings are presented have not materially modified from the original market announcement.

Forward-Looking Statement

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements including without limitation applicable court, regulatory authorities and applicable stock exchanges. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in Southern Cross Gold’s documents filed with Canadian or Australian securities regulatory authorities (under code SX2). You can find further information with respect to these and other risks in filings made by Southern Cross Gold with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for Southern Cross Gold in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2). Documents are also available at www.southerncrossgold.com  We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.