Golden Cross Resources Launches First-Ever Drilling at Shepherd's Hill and Welcome Reef Gold Prospects First-ever drilling at Shepherd's Hill and Welcome Reef – historically producing goldfields worked only by artisanal miners in the past.
Golden Cross Resources Launches First-Ever
Drilling at Shepherd's Hill and Welcome Reef
Gold Prospects
First-ever drilling at Shepherd's Hill and Welcome Reef – historically producing goldfields worked
only by artisanal miners in the past.
Welcome Reef legacy: Produced
9,000+ oz @ 25 g/t Au
1
, with widths and grades improving at
depth – Golden Cross plans to drill beneath where artisanal miners previously explored.
Historic wealth creation
:
Legendary prospector Louis Ah Mouy's success at
Welcome Reef
helped establish
Westpac Bank
, now Australia's oldest and one of its largest banks.
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) -
Golden Cross Resources
(TSXV:
AUX) (OTCQB: ZCRMF) (FSE: ZML0)
("
Golden Cross
" or the "
Company
") is pleased to announce it
has commenced drilling at the
Shepherd's Hill Prospect
and has secured a key access agreement at
the
Welcome Reef Goldfield
. Both areas host a rich history of artisanal mining and high-grade gold
production dating back to the 1800s, yet
neither has ever been explored with modern techniques
.
This program marks the first opportunity to unlock the true potential of these historic goldfields using
contemporary exploration methods.
Figure 1 – Reedy Creek Goldfield Prospects
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Shepherd's Hill – First Drilling of a Structurally Robust Target
Located within Golden Cross's 100%-owned Reedy Creek Project, Shepherd's Hill is a never-before-
drilled high-grade gold prospect. The area hosts a series of quartz-sulphide reefs within folded
turbidites, worked only at surface by early artisanal miners. Golden Cross's current program – 2,000
metres across five holes – represents the first modern test beneath those historic workings.
To date the
Company has completed over 900 metres of drilling at Shepherd's Hill. Assays are anticipated in Q4
2025.
Initial drilling at Shepherd's Hill, which was designed around preliminary structural mapping at surface,
has successfully intercepted the targeted quartz reefs at depth. Analysis of the early diamond drill core is
revealing the presence of structural indicators, including shears and tension veins. These structures don't
occur randomly, and they provide us with insight into the mechanisms driving gold mineralization in the
area. They are a powerful vectoring tool that will be used to guide future drilling targeting zones of
dilation, which are potential sites for gold deposition.
Figure 2 – Shepherd's Hill Prospect
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Welcome Reef – Historic High-Grade Gold Production, Never Before Drilled
In addition to drilling at Shepherd's Hill, Golden Cross has finalized an access agreement allowing the
Company to commence surface mapping, geophysics, and drilling at the Welcome Reef Goldfield.
Welcome Reef has an extensive history of artisanal gold exploration and production dating back to the
1800s, but has never before been drilled. To date, no previous claim owners or operators have
successfully secured land access to drill at the Welcome Reef area – making Golden Cross the first
company to advance modern exploration of this historically producing goldfield.
Figure 3 – Welcome Reef Prospect
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A Legacy of Wealth Creation, Now Ready for Modern Exploration
Welcome Reef, part of the historic Ti Tree Creek Goldfield
first discovered in 1859, is more than
just another historic Victorian goldfield – it is a cornerstone of Australia's gold rush heritage and financial
history.
Mining records indicate that at least
9,000 ounces of gold
2
were extracted from the
Ah Mouy mine
at
Welcome Reef
between June 1874 and September 1891, from approximately
10,500 tonnes of ore
grading an average of
25 g/t Au
3
. Historical reports note that the
width and length of the vein
increased with depth
, and grades remained remarkably consistent throughout the ore body
4
– an
encouraging sign that the system may be far from exhausted. Golden Cross plans to drill beneath the
historic workings at Welcome Reef testing for gold mineralisation. The drill design will be based on
detailed structural mapping of the historic workings currently underway at the Welcome Reef area.
Welcome Reef: The Foundation of Australia's Largest Bank
The Welcome Reef district is synonymous with
Louis Ah Mouy
, a pioneering Chinese prospector who
arrived in Victoria in 1851. Ah Mouy's success at the Welcome Reef and nearby fields generated a
fortune that he later used to help establish what is now
Westpac Bank
– today one of Australia's largest
financial institutions. His story exemplifies how discoveries in this region have historically translated into
long-lasting economic impact.
With access now secured at Welcome Reef, Golden Cross will deploy geophysics, structural mapping,
and targeted drilling to unlock the full potential of this underexplored system.
Management Commentary
Matthew Roma
, CEO of Golden Cross Resources, stated: "With the access agreement at Welcome
Reef now secured, we have two parallel opportunities: advancing a brand-new discovery at Shepherd's
Hill, and applying modern exploration techniques to a historically proven goldfield at Welcome Reef. This
combination of fresh targets and historic producers, combined with the potential we see at our current
drilling at Reedy Creek, underpins the scale of our Victorian opportunity."
The Company has completed 2,242 metres of drilling across the Reedy Creek Project with assays still
pending.
Marketing Engagement
The Company announces that it has entered into a marketing services agreement (the "Agreement")
with Resource Stock Digest ("RSD"), a company based out of Texas, effective September 15, 2025,
pursuant to which, among other things, RSD has agreed to provide certain promotional services to the
Company in accordance with Policy 3.4 – Investor Relations, Promotional and Market-Making Activities
of the Exchange. RSD has been engaged for a 3-month advertising and marketing program for total
cash consideration of USD $200,000, which shall be due upon receipt of approval of the Agreement by
the Exchange. RSD conducts interviews with the Company and produces Company-approved content
that is distributed to RSD's subscriber base and connects issuers to the investment community across
North America.
There is no performance factors contained in the Agreement and RSD will not receive common shares
or options as compensation. Further, RSD and the Company are arm's length and, at the time of the
Agreement, neither RSD nor any of its principals have an interest, directly or indirectly, in the securities
of the Company. The Agreement is subject to the approval of the Exchange. RSD is owned and
operated by Gerardo Del Real and Nick Hodge and its contact details are as follows: Gerardo Del Real,
2051 Gattis School Rd, Ste. 540 PMB 176, Round Rock, TX 78664, USA; Email:
.
Sources:
(1., 2., 3., 4.) Corlett, S.,
Annual Report on EL 3746 - Flowerdale
, 1996
About Golden Cross Resources
Golden Cross Resources (TSXV: AUX) is a Canadian mineral exploration company focused on
advancing its high-grade Reedy Creek gold project in Victoria, Australia. Located just 10 km from
Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous tenements in one of
Australia's most active epizonal gold corridors.
For more information:
Matt Roma, Director & CEO
+1-778-736-3356
Additional information about Golden Cross can be found on its website:
www.goldencrossresources.com
and at
www.sedarplus.ca
.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation relating plans for future exploration and drilling and the timing of same, the merits of the
Company's mineral projects and other plans of the Company, including statements relating to the use
of proceeds and completion of the Offering. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words "encouraging", "expects",
"plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests",
"often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly",
"preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur, or other statements, which, by their nature, refer to future events. The Company
cautions that forward-looking statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and that such statements are subject
to risks and uncertainties that may cause actual results, performance or developments to differ
materially from those contained in the statements. Consequently, there can be no assurances that
such statements will prove to be accurate and actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking
statements include risks associated with exploration and drilling; the timing and content of upcoming
work programs; geological interpretations based on drilling that may change with more detailed
information; possible accidents; the possibility that the Company may not be able to secure permitting
and other governmental approvals necessary to carry out the Company's plans; the risk that the
Company will not be able to raise sufficient funds to carry out its business plans; the possibility that
future exploration results will not be consistent with the Company's expectations; increases in costs;
environmental compliance and changes in environmental and other local legislation and regulation;
interest rate other risks associated with mineral exploration operations, the risk that the Company will
encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and
political conditions; and other risks involved in the mineral exploration industry. The reader is urged to
refer to the Company's Management's Discussion and Analysis, publicly available through the
Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR+) at
www.sedarplus.ca
for a more complete discussion of risk factors and their potential
effects.
Forward-looking statements are based on a number of assumptions, including management's
assumptions about the following: the availability of financing for the Company's exploration activities;
operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the
receipt of necessary regulatory and governmental approvals; market competition; and general
business and economic conditions. The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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