Southern Cross Gold's Activities for the Quarter Ended 31 May 2024

Southern Cross Gold Ltd (ASX: $SXG) reported its activities for the quarter ended 31 May 2024. The company highlighted exceptional high-grade results from the Rising Sun prospect, with drill holes returning >1,000g/t Au. Additionally, a Non-Binding Term Sheet for a proposed merger with Mawson Gold Ltd was announced, leading to 100% consolidation of the Sunday Creek asset in a dual listed company in Canada and Australia. The company also closed its fully underwritten A$10.23m Rights Issue and reported a cash balance of $13.36m at the end of the quarter.

Executive Commentary on Southern Cross Gold's Activities

The exceptional high-grade results from the Rising Sun prospect demonstrate the significant potential of our exploration projects. The proposed merger with Mawson Gold Ltd is a strategic move that will consolidate our assets and enhance our position in both Canada and Australia. Our extensive drilling program and regional surveys reflect our commitment to further exploration and discovery. We are also dedicated to upholding strong environmental, social, and governance initiatives, as evidenced by our community engagement and ESG efforts. We are optimistic about the future prospects of Southern Cross Gold and look forward to delivering value to our shareholders and stakeholders.

Summary of Southern Cross Gold's Activities and Outlook

Southern Cross Gold (ASX: $SXG) reported exceptional high-grade results from the Rising Sun prospect and announced plans for an extensive drilling program, regional surveys, and a proposed merger with Mawson Gold Ltd. The company's focus on exploration and development of its portfolio of projects, including the Sunday Creek Project, Redcastle Project, and Mt Isa Project, demonstrates its commitment to growth and discovery. With a strong cash balance and strategic initiatives in place, Southern Cross Gold is well-positioned to capitalize on its exploration successes and drive value for its shareholders. The proposed merger with Mawson Gold Ltd further underscores the company's ambitions for consolidation and expansion. Southern Cross Gold's dedication to ESG initiatives and community engagement reflects its commitment to responsible and sustainable practices, positioning the company for long-term success in the mining industry.