Southern Cross GOLD Welcomes Victorian New Economic and Critical Minerals Strategy and TWO MINE Approvals
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE December 12, 2024
SOUTHERN CROSS GOLD WELCOMES VICTORIAN NEW ECONOMIC AND CRITICAL
MINERALS STRATEGY AND TWO MINE APPROVALS
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSXV:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) announces Southern Cross Gold Ltd. (“Southern Cross Gold” or “SXG”) welcomes this
week’s extremely positive announcements of the Victoria Allan Labor Government's Economic Growth Statement
and the Critical Minerals Roadmap.
In addition, the Victorian Government's approval of the Goschen and Avonbank Mineral Sands Projects
represents the first new mineral sands mines permitted in Victoria since 2008 and marks a new chapter in
Victoria's great mining history. These approvals demonstrate the government's commitment to developing
Victoria's critical minerals sector. Southern Cross Gold extends its congratulations to VHM Limited and WIM
Resources on achieving this significant milestone.
The Critical Minerals Roadmap provides a clear framework for developing Victoria's substantial critical minerals
endowment, estimated to be worth approximately $200 billion. The strategy outlines plans for Critical Minerals
Priority Development Zones (including antimony) and streamlined approval processes, including reforms to the
Environmental Effects Statement (EES) process targeting an 18-month review period.
"We applaud the exceptional leadership shown by Premier Jacinta Allan in setting the framework for the
transformative announcements” said Michael Hudson, Mawson Interim CEO and Executive Chairman .
“Premier Allan's government Economic Growth Statement represents a comprehensive plan to unlock Victoria's
economic potential. The Statemen t delivers several transformative initiatives including reforms to slash
Environmental Effects Statement timeframes to 18 months. The Statement demonstrates Victoria's commitment
to cutting red tape while maintaining environmental standards, providing the certainty needed to attract major
investments across all sectors, including critical minerals.
"The Government's Critical Minerals Roadmap and these project approvals establish a clear framework for
sustainable mining development in Victoria. The streamlined approval processes and transparent development
pathways will help realize Victoria's world-class mineral potential. This balanced approach to regulatory reform,
environmental stewardship, and economic opportunity positions Victoria to become a leading force in the global
critical minerals sector.
"Minister D'Ambrosio's dedication to developing the Critical Minerals Roadmap has been transformative, creating
a clear pathway for Victoria to become a global leader in supplying the minerals essential for renewable energy
and modern technology. Her deep understanding of the linkages between the resources sector and the clean
energy transition has helped craft a strategy that positions Victoria perfectly for the future of mining.
"Minister Kilkenny's leadership to reform the Environmental Effects Statement process and creating transparent
planning pathways demonstrates the government's commitment to balancing development with environmental
protection. Her reforms will provide the certainty industry needs while maintaining Victoria's high environmental
standards"
Mr Hudson noted “The discovery of gold in 1851 transformed Melbourne from a modest settlement into
"Marvellous Melbourne" - one of the world's wealthiest cities of the nineteenth century. Between 1851 and 1896,
Victoria produced one-third of the world's gold output, generating wealth that funded the magnificent buildings
that still line Melbourne's streets today. The gold rush spurred the development of Victoria's rail network,
established regional cities, and attracted immigrants from around the world, creating the multicultural foundation
of modern Victoria. This extraordinary mineral wealth helped finance the British Empire's industrial revolution
and global expansion, while establishing Melbourne as a major financial center. The Victorian Gold Rush remains
one of the most significant mineral discoveries in history, producing over 2,500 tonnes of gold. These initiatives
highlight the potential for Victoria to enter an exciting new sustainable and modern chapter in its proud mining
history.
Further Information
Further discussion and analysis of the Sunday Creek project by Southern Cross Gold is available on the SXG
website at www.southerncrossgold.com.au.
Critical Metal Epizonal Gold-Antimony Deposits
As Victoria's leading antimony explorer, Southern Cross Gold is particularly encouraged of the inclusion of
antimony priority areas. Currently, Victoria hosts Australia's only operating antimony mine at Costerfield
(operation by Mandalay Resources Corporation), and the Critical Minerals Roadmap recognizes antimony's vital
role in defense applications and battery technology. The streamlined approval processes and commitment to
establishing Critical Minerals Priority Development Zones will support our ongoing exploration efforts in central
Victoria, where we see significant potential to expand the state's antimony production.
The Chinese government placed export limits on September 15, 2024 on six antimony -related products.
Additionally, the new policy bans gold-antimony smelting separation technology exports without permission from
the ministry. Last week China further ratcheted up supply pressure, imposing an outright ban on exports of
gallium, germanium and antimony to the United States. This puts pressure on Western defen se supply chains,
negatively affects the supply of the metal and pushes up pricing given China’s dominance of the supply of the
metal in the global markets. This is positive for SXG 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.
With China controlling 80% of global antimony supply and prices rising due to growing strategic demand, Victoria
has a unique opportunity to establish itself as the cornerstone of a new Western antimony supply chain. The
state's combination of existing production, new discoveries, strong regulatory framework, and advanced
manufacturing capabilities positions Victoria to not just mine antimony, but to develop the downstream
processing and manufacturing capacity crucial for defense and clean energy applicatio ns. Victoria can leverage
these advantages to become the first fully integrated antimony production and manufacturing hub outside of
China, securing critical supply chains.
About Mawson Gold Limited (TSXV:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
Mawson Gold Limited has distinguished itself as a leading Nordic exploration company. Over the last decades, the team behind Mawson
has forged a long and successful record of discovering, financing, and advancing mineral projects in the Nordics and Australia. Mawson
holds the Skellefteå North gold discovery and a portfolio of historic uranium resources in Sweden. Mawson also holds 48.7% of Southern
Cross Gold Ltd. (ASX:SXG) which owns or controls two high-grade, historic epizonal goldfields in Victoria, Australia, including the exciting
Sunday Creek Au-Sb discovery.
About Southern Cross Gold Ltd (ASX:SXG)
Southern Cross Gold holds the 100% -owned Sunday Creek project in Victoria and Mt Isa project in Queensland, the Redcastle joint
venture in Victoria, Australia, and a strategic 6.7% holding in ASX-listed Nagambie Resources Limited (ASX:NAG) which grants SXG a
Right of First Refusal over a 3,300 square kilometer tenement package held by NAG in Victoria.
On behalf of the Board,
"Michael Hudson "
Michael Hudson, Interim CEO and Executive
Chairman
Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary
+1 (604) 685 9316 [email protected]
Forward-Looking Statement
This news release contains forward- looking statements or forward-looking information within the meaning of applicable securities laws
(collectively, "forward -looking statements"). All statements herein, other than statements of historical fact, are forward- looking
statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations wil l prove
to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate,
and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking
statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward -
looking statements as a result of various factors, including, Mawson’s expectations regarding its ownership interest in Southern Cross
Gold, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, the
potential impact of epidemics, pandemics or other public health crises on the Company’s business, risks related to negative publicity with
respect to the Company or the mining industry in general; exploration potential being conceptual in nature, there being insufficient
exploration to define a mineral resource on the Australian-projects owned by SXG, and uncertainty if further exploration will result in the
determination of a mineral resource; planned drill programs and results varying from expectations, delays in obtaining results, equipment
failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations
due to permit grants, environmental and safety risks, and other risks and uncertainties. Any forward-looking statement speaks only as of
the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this news release.