CEO.CA Chairman's Briefing

Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - July 28, 2026) - Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3F) ("SXGC", "SX2" or the "Company") announces results from five drill holes at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria, comprising the westernmost sequence of holes reported from the main prospect area to date, close to 300 m west of any previous drilling (Figures 1 to 5). Three definition holes tested the upper portion of the Christina prospect and two deep control holes defined the down-dip architecture through Golden Dyke and Rising Sun.

SDDSC235 is the westernmost hole released from Christina. The hole remained within prospective dyke and altered sediment for a cumulative 800 m of its 1,405.7 m length, including a zone of mineralization from 282.1 m that returned 481 m @ 0.9 g/t Au (uncut), carrying Christina through into the Golden Dyke corridor before defining the prospective corridor within Rising Sun 1,010 m below surface. The hole returned seven individual assays above 50 g/t Au, up to 496.0 g/t Au, demonstrating that Christina hosts the same scale of mineralized system as Golden Dyke and Rising Sun.

Best results include a broad intercept of 8.3 m @ 4.8 g/t AuEq (4.8 g/t Au, 0.0% Sb) from 708.7 m and a high-grade interval of 0.8 m @ 141.0 g/t AuEq (141.0 g/t Au, 0.0% Sb) from 568.9 m, both in SDDSC235. All three definition holes from the new western pad intersected gold within 15 m to 60 m of surface, defining up to three previously unidentified shallow vein sets, including 2.6 m @ 7.5 g/t AuEq from 40.0 m in SDDSC220. Across the five holes, eight individual Au assays exceeded 50 g/t Au and four individual Sb assays exceeded 10% Sb, up to 39.50% Sb over 0.10 m from 91.79 m in SDDSC235. The true thickness of the mineralized intervals is interpreted to be approximately 40% to 90% of the sampled thickness for all reported holes.

Four High Level Takeaways:

1. Westernmost step-out. SDDSC220, SDDSC232 and SDDSC235 were drilled from a new pad approximately 300 m west of any previously released collar, and all three returned mineralization, confirming the system continues into previously untested ground with shallow gold intersected within 15 m to 60 m of surface.

2. SDDSC235 links Christina and Golden Dyke in a single hole. The westernmost and deepest hole reported from Christina to date intersected 15 vein sets, including 481 m @ 0.9 g/t Au (uncut) and a high-grade hit of 0.8 m @ 141.0 g/t Au from 568.9 m, before defining the prospective corridor within Rising Sun 1,010 m below surface. Christina is now demonstrated to host the same mineralized system as Golden Dyke and Rising Sun.

3. High-grade inventory keeps growing as drilling steps out. Five new composite intersections above 100 g/t Au lift the project total to 93, from 88, reinforcing the consistency of high-grade mineralization across an expanding footprint. All intersections form Christina are located outside the March 2025 exploration target.

4. Shallow antimony grades confirm epizonal zonation at Christina. SDDSC235 returned 39.5% Sb over 0.1 m from 91.8 m and SDDSC220 returned 12.4% Sb over 0.2 m from 205.4 m, extending the critical mineral endowment west.

Michael Hudson, President & CEO, states: "SDDSC235 is one of the most important holes we have drilled at Sunday Creek. The westernmost hole reported from Christina, it stayed in near-continuous mineralization for 481 m @ 0.9 g/t gold (uncut), delivered individual assays up to 496 g/t gold below the entire Christina prospect.

"This hole shows Christina can deliver at the same scale and grade as Golden Dyke and Rising Sun, and it does so in ground we have only just begun to test. Around it, every definition hole from the new western pad hit gold within 15 to 60 m of surface, close to 300 m west of any previous drilling, while our control holes locked in the architecture that will guide the next phase of definition drilling.

"With eleven rigs turning, 68 holes at the lab and our 200,000 m program running through to Q1 2027, Sunday Creek continues to grow in scale and confidence with every set of results."

For Those Who Like the Details - Highlights:

• SDDSC235 - the deepest west to east hole released to date from the Christina prospect, extending through Golden Dyke into the Rising Sun corridor at depth. The hole returned 481 m @ 0.92 g/t AuEq (uncut) (0.87 g/t Au, 0.02% Sb) from 282.1 m, with seven individual assays exceeding 50 g/t Au and one exceeding 35% Sb.

  • 1.6 m @ 21.4 g/t AuEq (21.3 g/t Au, 0.0% Sb) from 246.5 m, 

    • including 0.2 m @ 156.5 g/t AuEq (156.0 g/t Au, 0.2% Sb) from 246.5 m

  • 0.8 m @ 141.0 g/t AuEq (141.0 g/t Au, 0.0% Sb) from 568.9 m

  • 8.3 m @ 4.8 g/t AuEq (4.8 g/t Au, 0.0% Sb) from 708.7 m (Golden Dyke), 

    • including 0.4 m @ 43.2 g/t AuEq (43.2 g/t Au, 0.0% Sb) from 716.7 m

  • 1.8 m @ 37.2 g/t AuEq (37.2 g/t Au, 0.0% Sb) from 729.5 m (Golden Dyke), 

    • including 0.2 m @ 337.0 g/t AuEq (337.0 g/t Au, 0.0% Sb) from 731.1 m

  • Individual assays included 496 g/t Au, 337 g/t Au, 192.0 g/t Au, 156 g/t Au, 71.5 g/t Au, 51.4 g/t Au, 51.1 g/t Au, and 2.9 g/t Au and 39.5% Sb.

• SDDSC220 - the first hole drilled from a new western drill pad, confirming shallow high-grade mineralization in previously untested westernmost ground, with one individual assay exceeding 10% Sb.

  • 2.6 m @ 7.5 g/t AuEq (7.5 g/t Au, 0.0% Sb) from 40.0 m, including 1.3 m @ 13.1 g/t AuEq (13.1 g/t Au, 0.0% Sb) from 40.0 m

  • 0.7 m @ 23.5 g/t AuEq (13.9 g/t Au, 4.0% Sb) from 205.2 m, including 0.2 m @ 72.4 g/t AuEq (42.8 g/t Au, 12.4% Sb) from 205.4 m

  • Individual assays included 42.8 g/t Au & 12.40% Sb.

• SDDSC232 - followed up high-grade results from SDDSC137W2, intersecting shallow Christina mineralization before the hole deviated off target and concluded at 516.5 m, short of the planned Golden Dyke intercept, with one individual assay exceeding 50 g/t Au.

  • 1.3 m @ 4.1 g/t AuEq (1.9 g/t Au, 0.9% Sb) from 81.4 m

  • 0.1 m @ 172.2 g/t AuEq (172.0 g/t Au, 0.1% Sb) from 286.1 m

• SDDSC207 - drilled as a control hole sub-perpendicular to the main dyke trend, intersecting the main Christina vein set at depth and confirming high-grade gold mineralization in a hole designed only to test structural position. 

  • 0.2 m @ 41.7 g/t AuEq (41.6 g/t Au, 0.0% Sb) from 490.2 m

  • 2.5 m @ 2.7 g/t AuEq (1.3 g/t Au, 0.6% Sb) from 501.5 m

• SDDSC213 - drilled as a deep control hole, confirming a 260 m vertical step-down in the dyke position between 660 m and 740 m below surface, informing the architecture for the subsequent phase of definition drilling.

• Project Totals to Date 

  • 273 drill holes for 130.6 km reported from Sunday Creek since late 2020

  • 93 composite intersections exceeding 100 g/t Au by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut 

  • 110 composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut 

  • 68 holes pending results currently being processed and analysed, including eleven holes actively being drilled and three abandoned holes, with eleven drill rigs currently operational on the project

  • 200,000 m drill program continuing through to Q1 2027 

Drill Hole Discussion

Five drill holes are reported here from the Christina prospect. SDDSC220, SDDSC232 and SDDSC235 were drilled in a west-to-east orientation to optimise intersection angles across the vein architecture, while SDDSC207 and SDDSC213 were drilled sub-perpendicular to the dyke trend as control holes, designed to establish the down-dip architecture of the Christina prospect ahead of the follow-up definition holes along the prospective mineralized corridor. Together, these holes were designed to expand exploration opportunities across the Christina prospect, extending from surface through the Golden Dyke corridor and, in the case of SDDSC235, into Rising Sun at depth.

The five holes comprise three west-to-east definition holes and two deep control holes drilled to confirm the down-dip architecture of Christina ahead of a significant westernmost step-out of known mineralization. SDDSC220, SDDSC232 and SDDSC235 returned shallow high-grade intersections, delivering the first confirmed mineralization across the westernmost, previously untested parts of the prospect, and confirmed that mineralization continues from surface through the Golden Dyke corridor and, in SDDSC235, into the Rising Sun corridor at depth.

Eight (8) individual Au assays greater than 50 g/t Au and four (4) individual Sb assays greater than 10% Sb were intersected amongst the five holes reported, reinforcing the continued high-grade growth in upper Christina as exploration continues to define the boundaries of the mineralization.

These collars are the westernmost sequence of holes released drilling into the main prospect area of Sunday Creek to date, representing close to 300 m western step-out from previously released collar positions.

New shallow mineralization, not previously identified within this sequence of drilling, was intersected in SDDSC220, SDDSC232 and SDDSC235, successfully defining up to three new shallow vein sets within 15 m to 60 m of the surface.

SDDSC207

SDDSC207 was drilled as a control hole, sub-perpendicular to the main dyke trend, and successfully intersected close to 40 m downhole width of prospective terrain (Dyke and altered sediments) 350 m below the surface (estimated true width 21 m). Selected composite intervals from this hole, which skimmed the main vein set, demonstrate the prevalence of high-grade gold intersections in the Christina prospect.

Selected composite highlights include:

• 0.2 m @ 41.7 g/t AuEq (41.6 g/t Au, 0.0% Sb) from 490.2 m

• 2.5 m @ 2.7 g/t AuEq (1.3 g/t Au, 0.6% Sb) from 501.5 m

SDDSC213

SDDSC213 was also drilled as a control hole, intersecting 108 m of downhole prospective terrain (estimated true width 42 m). This is of particular importance in defining the position of the dyke structure at depth, where a 260 m vertical step down in the dyke position was identified between 660 m and 740 m below the surface, in an area of very little previous drilling, adjacent to the eastern boundary between the Christina and Golden Dyke prospects. This confirmed the dyke architecture required to inform the subsequent phase of definition drilling.

SDDSC220

SDDSC220 is the shallowest of the three definition holes included in this release and the first hole to be drilled from this western drill pad location, providing the first confirmation of mineralization in the upper westernmost parts of the Christina prospect.

SDDSC220 returned one individual assay exceeding 10% antimony:

• 12.40% Sb & 42.8 g/t Au over 0.20 m from 205.39 m

Selected composite highlights include:

• 2.6 m @ 7.5 g/t AuEq (7.5 g/t Au, 0.0% Sb) from 40.0 m, including:
  • 1.3 m @ 13.1 g/t AuEq (13.1 g/t Au, 0.0% Sb) from 40.0 m
• 0.7 m @ 23.5 g/t AuEq (13.9 g/t Au, 4.0% Sb) from 205.2 m, including
  • 0.2 m @ 72.4 g/t AuEq (42.8 g/t Au, 12.4% Sb) from 205.4 m
• 3.6 m @ 6.2 g/t AuEq (5.4 g/t Au, 0.4% Sb) from 244.1 m, including:
  • 1.0 m @ 16.1 g/t AuEq (15.9 g/t Au, 0.1% Sb) from 244.1 m

SDDSC232

SDDSC232 was designed to follow up high-grade results from SDDSC137W2 (refer to ASX announcement titled 'SXG Drills 1.7 m @ 250.8 g/t Au, 260 m stepout at Christina' dated 28 October 2024) and extend testing toward the Golden Dyke corridor at depth. Deviation in the lower part of the hole caused it to track away from the target corridor, and drilling concluded at 516.5 m, short of the planned 1,000 m, prior to reaching Golden Dyke.

SDDSC232 intersected one individual assay exceeding 50 g/t Au:

• 172.0 g/t Au & 0.07% Sb over 0.13 m from 286.06 m

The selected composite results from SDDSC232 relate solely to the Christina prospect, as drilling concluded before testing the Golden Dyke corridor:

• 1.3 m @ 4.1 g/t AuEq (1.9 g/t Au, 0.9% Sb) from 81.4 m

• 4.3 m @ 1.7 g/t AuEq (1.3 g/t Au, 0.2% Sb) from 121.6 m

• 0.1 m @ 172.2 g/t AuEq (172.0 g/t Au, 0.1% Sb) from 286.1 m

SDDSC235

SDDSC235 is a milestone hole for Sunday Creek: the westernmost and deepest hole released from the Christina prospect to date. SDDSC235 was collared within the Christina prospect, drilled through Golden Dyke intersecting 15 vein sets in these prospects and continued on to define the position of the prospective corridor within Rising Sun, 1,010 m below the surface. The hole remained within the prospective dyke and altered sediment package for a cumulative 800 m of its 1,405.7 m length, including a single 481 m zone of near-continuous mineralized prospective terrain from 282.1 m to 763 m which returned 0.87 g/t Au and 0.02% Sb (0.92 g/t AuEq) (uncut). This continuity of mineralization demonstrates that Christina hosts the same scale of mineralized system as Golden Dyke and Rising Sun. The success of SDDSC235 can be attributed to understanding the architecture of the prospective terrain, defined by drilling SDDSC207 and SDDSC213, and previously released deep control hole SDDSC194W1 (refer to ASX announcement 'Southern Cross Gold drills deepest hole, Gold hit 460m below Golden Dyke' dated 9 April 2026).

SDDSC235 intersected seven individual assays exceeding 50 g/t Au, highlighting the high-grade nature of the mineralization encountered along the hole:

• 156.0 g/t Au & 0.19% Sb over 0.21 m from 246.50 m

• 192.0 g/t Au & 0.00% Sb over 0.29 m from 552.49 m

• 496.0 g/t Au & 0.01% Sb over 0.20 m from 569.32 m

• 71.5 g/t Au & 0.00% Sb over 0.16 m from 569.52 m

• 51.4 g/t Au & 0.02% Sb over 0.10 m from 684.81 m

• 51.1 g/t Au & 0.01% Sb over 0.20 m from 714.80 m

• 337.0 g/t Au & 0.01% Sb over 0.20 m from 731.10 m

SDDSC235 returned one individual assay exceeding 35% antimony, again highlighting the high antimony presence in the shallow part of the system:

• 39.50% Sb & 2.9 g/t Au over 0.10 m from 91.79 m

Selected composite highlights from Christina include:

• 4.7 m @ 4.9 g/t AuEq (1.2 g/t Au, 1.5% Sb) from 90.4 m

  • 2.9 m @ 6.1 g/t AuEq (2.4 g/t Au, 1.5% Sb) from 108.8 m, including

    • 0.9 m @ 16.7 g/t AuEq (6.0 g/t Au, 4.5% Sb) from 110.8 m

  • 1.6 m @ 21.4 g/t AuEq (21.3 g/t Au, 0.0% Sb) from 246.5 m, including:

    • 0.2 m @ 156.5 g/t AuEq (156.0 g/t Au, 0.2% Sb) from 246.5 m

• 2.8 m @ 4.3 g/t AuEq (2.3 g/t Au, 0.8% Sb) from 286.2 m

• 2.1 m @ 28.2 g/t AuEq (28.2 g/t Au, 0.0% Sb) from 550.7 m, including

  • 0.3 m @ 192.0 g/t AuEq (192.0 g/t Au, 0.0% Sb) from 552.5 m

• 0.8 m @ 141.0 g/t AuEq (141.0 g/t Au, 0.0% Sb) from 568.9 m

With selected composite highlights extending into the Golden Dyke corridor:

• 0.4 m @ 36.3 g/t AuEq (36.3 g/t Au, 0.0% Sb) from 604.8 m

  • 8.3 m @ 4.8 g/t AuEq (4.8 g/t Au, 0.0% Sb) from 708.7 m, including

    • 0.4 m @ 43.2 g/t AuEq (43.2 g/t Au, 0.0% Sb) from 716.7 m

  • 1.8 m @ 37.2 g/t AuEq (37.2 g/t Au, 0.0% Sb) from 729.5 m, including

    • 0.2 m @ 337.0 g/t AuEq (337.0 g/t Au, 0.0% Sb) from 731.1 m

Pending Results and Update

Eleven drill rigs are currently operational on the Sunday Creek project. Results are pending from 68 holes currently being processed and analyzed including eleven holes that are actively being drilled and three abandoned holes (Figure 2). The Company's 200,000 m drill program continues through to Q1 2027.

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. SXGC is also the freehold landholder of 1,392 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, Golden Dyke and Rising Sun these individual 'rungs' have been defined over 600 m depth extent from surface to over 1,200 m below surface, are 2.5 m to 3.5 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike.

Cumulatively, 273 drill holes for 130,610.13 m have been reported from Sunday Creek since late 2020. This amount includes five holes for 929 m that have been drilled for geotechnical purposes and 22 holes for 2,972.92m that were abandoned due to deviation or hole conditions. Fourteen drill holes for 2,382.74 m have been reported regionally outside of the main Sunday Creek drill area with seventeen (17) additional regional holes currently being processed. 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 ninety-three (93) composite intersections exceeding 100 g/t Au and seventy-nine (79) composite intersections between 50 g/t and 100 g/t Au, and one-hundred and ten (110) composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.

Southern Cross Gold's systematic drill program is strategically targeting these significant vein formations, which are currently drill defined over 1,550 m strike of the host dyke/sediment ("rails of the ladder") from Christina to Apollo prospects, of which approximately 650 m has been more intensively drill tested (Golden Dyke to Apollo). At least 124 'rungs' have been defined to date, defined by high-grade intercepts (20 g/t Au 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 2).

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 President & CEO/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 5 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 individually as estimated true widths ("ETW"), otherwise they are interpreted to be approximately 40% to 90% 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 (Figure 5) 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 km to 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 SXGC 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.

About Southern Cross Gold Consolidated Limited (TSX: SXGC) (ASX: SX2) (OTCQX:S XGCF) (FSE: MV3)

Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), is defining a leading gold-antimony project at the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne. Sunday Creek is a significant gold and antimony drill discovery in a Tier 1 location, with high-grade drill results including 93 composite intersections exceeding 100 g/t Au from 136.2 km of drilling (including historic drilling). The mineralization follows a "Golden Ladder" structure over 12 km of interpreted strike length, with structures drill tested from surface to 1,200 m depth.

Sunday Creek's strategic value is enhanced by its dual-metal profile. The Company has a critical mineral the Western world needs. 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 Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier.

Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93% to 98% through gravity and flotation.

With a strong cash position, 1,392 Ha of strategic freehold land ownership, and a large 200 km drill program planned through Q1 2027, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction, delivering milestone by milestone.

- Ends -

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

NI 43-101 Technical Background and Qualified Person

Kenneth Bush, Head of Exploration for SXGC, a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315), is the Qualified Person 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 ("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 gram 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 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 ("AuEq") 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 Alkane Resources (previously Mandalay Resources) contains two million ounces of equivalent gold (Mandalay Resources 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.

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 a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315). Mr Bush has 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 Head of Exploration of Southern Cross Gold Consolidated Limited and consents 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 in 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.

Certain information in this announcement also relates to prior drill hole exploration results, extracted from the following announcements, which are available to view on www.southerncrossgold.com:

• 4 October, 2022 SDDSC046, 20 October, 2022 SDDSC049, 5 September, 2023 SDDSC077B, 12 October, 2023 SDDLV003 & 4, 23 October, 2023 SDDSC082, 9 November, 2023 SDDSC091, 14 December, 2023 SDDSC092, 5 March, 2024 SDDSC107, 30 May, 2024 SDDSC117, 13 June, 2024 SDDSC118, 5 September, 2024 SDDSC130, 28 October, 2024 SDDSC137W2, 28 November, 2024 SDDSC141, 9 December, 2024 SDDSC145, 18 December, 2024 SDDSC129 & 144, 28 May, 2025 SDDSC161, 16 June, 2025 SDDSC162, 26 August, 2025 SDDSC171, 8 September, 2025 SDDSC170A, 9 April, 2026 SDDSC194W1

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 been 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. 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 the Company's documents filed with Canadian or Australian (under code SX2) securities regulatory authorities. You can find further information with respect to these and other risks in filings made by the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for the Company 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 The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

Figure 1: Sunday Creek plan view showing selected results from holes SDDSC207, SDDSC213, SDDSC220, SDDSC232 and SDDSC235 reported here (dark blue highlighted box, black trace), with selected prior reported drill holes. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11541/306808_115d6b58c41d4a0c_004full.jpg

Figure 2: Sunday Creek plan view showing selected drill hole traces from holes SDDSC207, SDDSC213, SDDSC220, SDDSC232 and SDDSC235 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue).

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Figure 3: Sunday Creek longitudinal section across A-B in the plane of the dyke breccia/altered sediment host looking towards the NW (striking 56 degrees) indicating mineralized vein sets. Showing holes SDDSC207, SDDSC213, SDDSC220, SDDSC232 and SDDSC235 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. 

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Figure 4: Sunday Creek regional plan view showing soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas. The main regional drill areas are at Tonstal, Consols and Leviathan located 4,000 m to 7,500 m along strike from the main drill area at Golden Dyke- Apollo. Map in GDA94/ MGA Zone 55.

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

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

Table 2: Table of mineralized drill hole intersections reported from SDDSC207, SDDSC213, SDDSC220, SDDSC232 and SDDSC235 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 SDDSC207, SDDSC213, SDDSC220, SDDSC232 and SDDSC235 reported here >0.1g/t AuEq. Individual assay and sample intervals are reported to two decimal places.

JORC Table 1

Section 1 Sampling Techniques and Data