Mariana Bermudez – Corporate Secretary
NEWS RELEASE
TSX: SXGC | ASX: SX2 | OTCQX: SXGCF
Mariana Bermudez – Corporate Secretary
+1 604 685 9316 [email protected]
1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead – Corporate Development
+61 415 153 122 [email protected]
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
SOUTHERN CROSS GOLD CONSOLIDATED LTD
TSX: SXGC | ASX: SX2 | OTCQX: SXGCF
www.southerncrossgold.com
NOVEMBER 18, 2025
SOUTHERN CROSS GOLD DRILLS 9.2 m @ 32.2 g/t GOLD 1.0% ANTIMONY
FROM GOLDEN DYKE
Vancouver, Canada — Southern Cross Gold Consolidated Ltd (“SXGC” or the “Company”)
(TSX:SXGC) (ASX:SX2) (OTCQX:SXGCF) (Frankfurt: MV3.F) announces results from SDDSC184A at the
Golden Dyke prospect, at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 6).
Best results included 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m including 0.2 m @ 1,003.6
g/t AuEq (986.0 g/t Au, 7.4% Sb) from 604.8 m.
Five High Level Takeaways:
Michael Hudson, President & CEO states: “SDDSC184A has delivered the two highest individual gold
grades ever recorded in the Golden Dyke system , 986 g/t Au and 416 g/t Au, both occurring within altered
sediment. These exceptional grade intercepts, combined with the 9.2 m @ 34.6 g/t AuEq, demonstrate that
Golden Dyke hosts the same high-grade tenor we've consistently seen at Rising Sun.
"The systematic infill drilling is proving exactly what we anticipated. We've extended the GD65 -70-75 vein
set by 20 m along strike with results that mirror those from previously reported holes, and we've added a 65
m downdip extension to vein set GD60. The cumulative intersection across the entire Golden Dyke
mineralized zone totals approximately 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut). This is
a robust system with substantial width and grade.
"What's particularly significant is how sparsely drilled Golden Dyke remains compared to Rising Sun. The
high-grade sections (“cores”) of the vein sets we're defining span 35 m of strike and remain completely open
to both the north and south, we simply haven't drilled there yet. This is emerging as part of a continuous
mineralized system connecting to Rising Sun, with the same characteristics: ultra high -grades, frequent
visible gold, and elevated antimony.
“With 48 holes currently in the system and our ten rigs continuing to deliver, investors should expect a
1. SDDSC184A delivered the two highest individual gold grades ever recorded at Golden Dyke -
986 g/t Au and 416 g/t Au, both in altered sediment, demonstrating exceptional grade potential that
is comparable to Rising Sun.
2. The hole intersected 9.2 metres @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb), with the cumulative
mineralized zone spanning 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut), confirming
Golden Dyke as a robust, high-grade system.
3. Systematic infill drilling extended mineralization by 20 m along strike on the GD65-70-75 vein sets
and 65 m downdip on GD60 from previous drilling, demonstrating consistent grade continuity and
system expansion (Figure 4).
4. Golden Dyke exhibits the same high- grade characteristics as Rising Sun – very high-grade
intercepts, frequent visible gold, and elevated antimony but has had significantly less drilling with
only 35 m of strike defined and untested to both the north and the south.
5. Results bring project totals to 7 2 intersections >100 g/t AuEq x m and 79 intersections >50 to
100 g/t AuEq x m
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NEWS RELEASE
significant wave of drill results before year end from the accelerating Sunday Creek story."
Drill Hole Discussion
SDDS184 & SDDSC184A Series
The original hole (SDDSC184) was abandoned at 70 m due to it deviating off plan. A redrill from collar,
SDDSC184A, was completed to maintain the planned infill spacing in the Golden Dyke system. SDDSC184A
was drilled east to west, running sub-parallel to the main dyke and alteration zone but at a high angle to the
mineralization and vein orientations.
SDDSC184A intercepted four distinct vein sets within the Golden Dyke system and confirmed two exceptional
high-grade cores within the GD65 and GD75 vein structures. The hole successfully extended mineralization
along strike by 20 m on the GD65-70-75 corridor and delivered a 65 m downdip extension to GD60.
Key Highlights from SDDSC184A:
Highlights include a peak individual sample grade of 0.24 m @ 986 g/t Au and 7.37% Sb from 604.82 m and
0.20 m at 416 g/t Au and 0.1% Sb from 579.6 m representing the two highest individual gold grades
intersected in the Golden Dyke system to date and within the altered sediment portion of the mineralized
system. The program has also successfully extended mineralization, including a 65 m downdip extension
to GD60 outside the planned infill area and a 2 0 m along-strike extension of vein sets GD65-70-75 (2.0
For Those Who Like the Details - Highlights:
1. Two Highest Gold Grades from Golden Dyke: Individual sample assays of 0.24 m @ 986 g/t Au
(7.4% Sb) and 0.20 m @ 416 g/t Au represent the highest gold grades ever intersected in the Golden
Dyke system, both occurring in altered sediment – true width is approximately 40% to 50% of the
intersection width.
2. Exceptional Composite Intercept: 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m,
including multiple high-grade intervals: 0.2 m @ 1,003.6 g/t AuEq, 0.2 m @ 88.4 g/t AuEq, and 0.2
m @ 29.5 g/t AuEq.
3. System-Scale Mineralized Envelope: Cumulative intersection across the entire mineralized zone
totals 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut), demonstrating substantial width
and consistent grade tenor across multiple vein sets.
4. Four Distinct Vein Sets Confirmed: SDDSC184A intercepted four separate vein structures within
Golden Dyke, plus two confirmed high-grade cores within the GD65 and GD75 vein sets, adding to
the density of the mineralized system (Figure 4).
5. Significant Strike Extension: 20 m along-strike extension of the GD65-70-75 vein sets confirmed
between drill holes SDDSC141 to SDDSC184A (Figure 4) with results maintaining consistent high-
grade tenor over approximately 141-degree strike orientation.
6. Substantial Downdip Growth: 65 m vertical extension on the GD60 vein set demonstrates depth
continuity of mineralization, with high- grade cores now defined over 35 m of strike length and
remaining completely open to exploration in both directions.
7. Rising Sun-Style Characteristics Confirmed: Golden Dyke exhibits identical geological signatures
to Rising Sun – high-grade gold intercepts, frequent visible gold observations, elevated antimony
approaching pure stibnite levels, and discrete high-grade cores within broader mineralized halos.
8. Sparse Drilling Equals Major Upside: Despite delivering these significant results, Golden Dyke
remains significantly under -drilled compared to Rising Sun, with the current 35 m strike length
representing minimum extent only. No drilling has tested extensions to the north or south, indicating
substantial exploration potential.
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NEWS RELEASE
m @ 43.2 g/t AuEq (43.1 g/t Au, 0.0% Sb) from 579.6 m and 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb)
from 604.8 m), consistent with results from SDDSC141 which previously reported on November 28 2024: 6.3
m @ 5.0 g/t AuEq (4.8 g/t Au, 0.1% Sb) from 613.0 m and 2.8 m @ 11.7 g/t AuEq (10.0 g/t Au, 0.7% Sb)
from 621.3 m, including: 0.1 m @ 188.2 g/t AuEq (188.0 g/t Au, 0.1% Sb) from 621.3 m . These results
continue to demonstrate the robust high-grade nature of the Golden Dyke vein system and support ongoing
resource expansion efforts.
Drill hole highlights include:
• 3.6 m @ 3.8 g/t AuEq (2.3 g/t Au, 0.6% Sb) from 160.0 m, including:
o 1.3 m @ 8.1 g/t AuEq (4.4 g/t Au, 1.6% Sb) from 162.0 m
• 2.0 m @ 43.2 g/t AuEq (43.1 g/t Au, 0.0% Sb) from 579.6 m, including:
o 0.2 m @ 416.2 g/t AuEq (416.0 g/t Au, 0.1% Sb) from 579.6 m
• 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m, including:
o 0.2 m @ 1,003.6 g/t AuEq (986.0 g/t Au, 7.4% Sb) from 604.8 m
o 0.2 m @ 29.5 g/t AuEq (7.3 g/t Au, 9.3% Sb) from 608.7 m
o 0.2 m @ 88.4 g/t AuEq (87.2 g/t Au, 0.5% Sb) from 613.8 m
The emerging drill results demonstrate consistent similarities to the Rising Sun deposit in terms of grade
tenor and mineralization style. Golden Dyke exhibits the same characteristics observed at Rising Sun:
high-grade tenor with high-grade intercepts, frequent visible gold occurrence, and elevated antimony values.
The critical distinction is that Golden Dyke has considerably less drilling than Rising Sun.
The high-grade cores of vein sets are now defined over 35 m of strike length at Golden Dyke and remain
open to both the north and south with minimal drilling constraining the system boundaries (Figure 4). The
consistency of results and the emerging strike length support the interpretation that Golden Dyke may be
part of a continuous mineralized system connecting to Rising Sun. The sparse drill coverage to date suggests
significant scope for exploration expansion with continued systematic drilling.
With increased logging and assay capacity now in place, the Company expects to deliver a significant number
of additional drill hole results before year-end, maintaining continuous news flow as the Sunday Creek story
continues to unfold.
Pending Results and Update
Results are pending fro m 48 holes currently being processed and analyzed including ten holes that are
actively being drilled and four abandoned holes (Figure 2). The Company continues its 200,000 m drill
program through Q1 2027. Ten drill rigs are currently operational on the project.
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, 219 drill holes for 98,061.13 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 20 holes for
2,197.77 m that were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have
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NEWS RELEASE
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 Seventy-two (72)
>100 g/t AuEq x m and seventy -nine (79) >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, which are currently
defined over 1,350 m strike of the host dyke/sediment (“rails of the ladder”) from Christina to Apollo prospects,
of which approximately 620 m has been more intensively drill tested (Rising Sun to Apollo). At least 93 ‘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 minerali zed system
(Figure 5).
Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional
host to the Sunday Creek minerali zation 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 6 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 minerali zed intervals reported individually as
estimated true widths (“ETW”), otherwise they are interpreted to be approximately 40% to 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 6) 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 fea tures 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 wor ld'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.
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NEWS RELEASE
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:SXGCF)
(Frankfurt: MV3.F)
Southern Cross Gold Consolidated Ltd. (TSX: SXGC, ASX: SX2, OTCQX: SXGCF), 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 72 intersections exceeding 100 g/t AuEq x m from just 103 .6 km of drilling. The mineralization
follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surfac e 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, meaning Importantly, Sunday Creek can be developed
primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply
potential. 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.
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 strong cash position, over 1,000 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.
- 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
[email protected] or +1 604 685 9316
Executive Office
1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead – Corporate Development
[email protected] or +61 415 153 122
Justin Mouchacca, Assistant Company Secretary,
[email protected] or +61 3 8630 3321
Subsidiary Office
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
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NEWS RELEASE
NI 43-101 Technical Background and Qualified Person
Michael Hudson, President, 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 (“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:
𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 = 𝐴𝐴𝐴𝐴 (𝑔𝑔/𝑡𝑡) + 2.39 × 𝑆𝑆𝑆𝑆 (%)
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 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 = 𝐴𝐴𝐴𝐴 (𝑔𝑔/𝑡𝑡) + 2.39 × 𝑆𝑆𝑆𝑆 (%) 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 in the field of Mining (#10315) and Mr Hudson is a Fellow of The Australasian Institute of Mining and Metallurgy. M r Bush
and Mr Hudson each have sufficient experience relevant to the style of minerali zation and type of deposit under cons ideration, and
to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Commi ttee
(JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is E xploration
Manager and Mr Hudson is President, CEO and Managing Director of Southern Cross Gold Consolidated 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 t o
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, are 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,
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 su ch 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
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NEWS RELEASE
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 ris ks 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.
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ASX ANNOUNCEMENT
Figure 1: Sunday Creek plan view showing selected results from holes SDDSC 184 and SDDSC184A reported here (dark blue highlighted box, black trace), with
selected prior reported drill holes.