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"Multiple high-grade intersections within a 330 m intersection of the mineralized host in drillhole SDDSC148, included 1.0 m @ 20.8 g/t AuEq, 0.5 m @ 76.1 g/t AuEq and 0.5 m @ 41.3 g/t AuEq and demonstrated the robust nature of the system and its potential for further expansion. The first intersections observed to the west of Christina are thinner than those to the east, yet the high-grade nature of the intercepts could comfortably enable their g/t x m metrics to fall into mineable categories at adjacent mines.

"Shareholders can expect a series of key catalysts over the next quarter include an exploration target upgrade planned for early March 2025, ongoing expansion of the core resource area with monthly SRK Consulting modelling updates, IP geophysical testing of regional targets along the 12 km strike length, completion of Stage 2 metallurgical studies, expansion of drilling operations from five to eight rigs with dedicated regional target testing, and advancement of permitting processes with the State of Victoria including environmental and hydrogeological studies"

FOR THOSE WHO LIKE THE DETAILS

HIGHLIGHTS

• Significant expansion of the mineralized footprint, achieved through the successful western extension drilling programme, and highlighted by multiple high-grade gold intersections

  • Strike length extended 200 m westward of Christina to 1.5 km between Apollo East and Christina and remains open to the east of Apollo, west of Christina and down-dip

  • New vein sets identified beyond current model and continued confirmation of system continuation at depth

• SDDSC148 drilled six previously unmodelled high-grade vein sets and tested a prospective corridor of 330 m. The hole included six intervals >20 g/t Au (up to 76.0 g/t Au) and 12 instances of visible gold. SDDSC148 represents the westernmost tested mineralization on the Sunday Creek project. Selected highlights include:

  • 1.0 m @ 20.8 g/t AuEq (20.5 g/t Au, 0.2% Sb) from 181.0 m

  • 0.5 m @ 76.1 g/t AuEq (76.0 g/t Au, 0.1% Sb) from 252.6 m

  • 0.5 m @ 41.3 g/t AuEq (41.2 g/t Au, 0.1% Sb) from 285.8 m

• SDDSC140 drilled three high-grade vein sets positioned 240 m to 360 m up-dip of SDDSC153 and 150, respectively (29 January, 2025). Selected highlights include:

  • 4.2 m @ 7.4 g/t AuEq (6.6 g/t Au, 0.4% Sb) from 168.8 m, including:

    • 2.1 m @ 12.8 g/t AuEq (11.4 g/t Au, 0.7% Sb) from 169.9 m

• SDDSC146W1 intercepted two mineralized domains and traversed a prospective mineralized corridor of 80 m, confirming the continuation of the dyke host to the western extents of Christina. Highlights from SDDSC146W1 include:

  • 1.8 m @ 8.6 g/t AuEq (8.4 g/t Au, 0.1% Sb) from 309.3 m, including:

    • 1.3 m @ 11.6 g/t AuEq (11.5 g/t Au, 0.1% Sb) from 309.8 m

• Ongoing Exploration: A$18 million in cash and no debt. Fourteen holes (SDDSC147, 149, 149W1, 151, 152, 154 - 160, 155A, 157A) are currently being processed and analysed, with five holes (SDDSC160W1, 161, 162, 163, 164) in progress (Figure 1 and 2).
  

Drill Hole Discussion

SDDSC148 was drilled as part of a program to locate and cross through the dyke host (the ladder rails), while aiming to intercept mineralized vein sets (the ladder rungs) at a moderate to high angle. This drillhole successfully intercepted a prospective window (cumulative downhole length of altered sediment/dyke/breccia) of 330 m and discovered six previously unmodelled vein sets while also recording 12 instances of visible gold. This represents the westernmost known mineralization on the Sunday Creek project, extending the tested strike length by 200 m to 1.5 km between Apollo East to Christina. Extended highlights include:

• 1.0 m @ 20.8 g/t AuEq (20.5 g/t Au, 0.2% Sb) from 181.0 m

• 2.2 m @ 7.2 g/t AuEq (6.8 g/t Au, 0.2% Sb) from 208.6 m

• 0.5 m @ 76.1 g/t AuEq (76.0 g/t Au, 0.1% Sb) from 252.6 m

• 0.6 m @ 5.2 g/t AuEq (5.0 g/t Au, 0.1% Sb) from 272.6 m

• 0.3 m @ 21.7 g/t AuEq (21.6 g/t Au, 0.0% Sb) from 277.8 m

• 0.5 m @ 41.3 g/t AuEq (41.2 g/t Au, 0.1% Sb) from 285.8 m

• 0.2 m @ 36.1 g/t AuEq (36.1 g/t Au, 0.0% Sb) from 300.8 m

• 0.3 m @ 13.5 g/t AuEq (13.5 g/t Au, 0.0% Sb) from 304.8 m

• 1.0 m @ 8.1 g/t AuEq (8.1 g/t Au, 0.0% Sb) from 336.7 m, including:

• 0.3 m @ 24.6 g/t AuEq (24.6 g/t Au, 0.0% Sb) from 336.7 m

• 0.7 m @ 5.7 g/t AuEq (5.7 g/t Au, 0.0% Sb) from 547.4 m

SDDSC140 delivered further success. It was drilled at a relatively high angle to the dyke/breccia host as a ‘control' hole (high angle to the ladder rails) and intercepted three mineralized domains at 240 m to 360 m up-dip from SDDSC153 and SDDSC150, respectively. The hole intersected three mineralized domains across a 125 m prospective mineralized corridor, returning significant results including:

• 4.2 m @ 7.4 g/t AuEq (6.6 g/t Au, 0.4% Sb) from 168.8 m, including:

• 2.1 m @ 12.8 g/t AuEq (11.4 g/t Au, 0.7% Sb) from 169.9 m

• 5.1 m @ 3.0 g/t AuEq (1.5 g/t Au, 0.8% Sb) from 184.4 m, including:

• 1.7 m @ 4.4 g/t AuEq (1.9 g/t Au, 1.3% Sb) from 186.5 m

• 2.3 m @ 2.4 g/t AuEq (1.9 g/t Au, 0.3% Sb) from 214.4 m

SDDSC146 encountered technical challenges with drilling equipment becoming lodged at 230 m to 245 m depth. A daughter hole, SDDSC146W1, was successfully wedged at 225 m and intercepted two mineralized domains across an 80 m prospective corridor. The hole confirmed the continuation of the dyke host and mineralization 200m further west than had previously been mapped. Extended highlights from SDDSC146W1 include:

• 0.6 m @ 7.4 g/t AuEq (6.5 g/t Au, 0.5% Sb) from 234.3 m

• 1.8 m @ 8.6 g/t AuEq (8.4 g/t Au, 0.1% Sb) from 309.3 m, including:

• 1.3 m @ 11.6 g/t AuEq (11.5 g/t Au, 0.1% Sb) from 309.8 m

SDDSC142 was drilled parallel to the dyke zone and provided valuable stratigraphic information of the Christina locality sedimentary sequence that will enable follow up holes to be targeted.

Pending Results and Update

The drilling programme continues to advance with fourteen holes (SDDSC147, 149, 149W1, 151, 152, 154-160, 155A, 157A) currently being processed and analysed. Five additional holes (SDDSC160W1, 161, 162, 163, 164) 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. 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,

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 2.5 m to 3.5 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike.

Cumulatively, 162 drill holes for 73,299.16 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 fifty-six (56) >100 g/t AuEq x m and sixty (60) >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 1,350 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 SXGC 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 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 represents approximately 20% in situ recoverable value of Sunday Creek at an AuEq of 1.88.

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

Southern Cross Gold Consolidated Ltd is now dual listed on the TSXV:SXGC and 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 56 intersections exceeding 100 g/t AuEq x m from just 70.7 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, SXGC 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 SXGC, and a Fellow of the Australasian Institute of Mining and Metallurgy, and Mr Kenneth Bush, Exploration Manager of SXGC 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.

SXGC 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.

SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its Mandalay Technical Report, 2024 dated March 28, 2024. The gold equivalence formula used by Mandalay Resources was calculated using Costerfield's 2023 production costs, using a gold price of US$1,900 per ounce, an antimony price of US$12,000 per tonne and 2023 total year metal recoveries of 94% for gold and 89% for antimony, and is as follows:

𝐴𝑢𝐸𝑞 = 𝐴𝑢 (𝑔/𝑡) + 1.88 × 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) + 1.88 × 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 www2.asx.com.au under code "SXGC". 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.

- Ends -

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

For further information, please contact:

Mariana Bermudez - Corporate Secretary - Canada

mbermudez@chasemgt.com or +1 604 685 9316

Executive Office: 1305 - 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada

Nicholas Mead - Corporate Development

info@southerncrossgold.com or +61 415 153 122

Justin Mouchacca, Company Secretary - Australia

jm@southerncrossgold.com.au or +61 3 8630 3321

Subsidiary Office: Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia

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 SXGC'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 SXGC with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for SXGC 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.

Figure 1: Sunday Creek plan view showing selected results from holes SDDSC140, SDDSC142, SDDSC146, SDDSC146W1 and SDDSC148 reported here (blue highlighted box, black trace), with selected prior reported drill holes and pending holes.

Figure 2: 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 SDDSC140, SDDSC142, SDDSC146, SDDSC146W1 and SDDSC148 reported here (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. For location refer to Figure 1.

Figure 3: 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 4: 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 SDDSC140, SDDSC146W1 and SDDSC148 using 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.

Table 3: All individual assays reported from SDDSC140, SDDSC142, SDDSC146, SDDSC146W1 and SDDSC148 reported here >0.1g/t AuEq.

JORC Table 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

SOURCE: Southern Cross Gold Consolidated Ltd.

View the original press release on ACCESS Newswire