Southern Cross Gold Consolidated Ltd. press release

Southern Cross Gold Drills 36.6 m @ 4.0 g/t Au and 1.0% Sb

2026-06-10

TSX - Toronto Stock Exchange · Australia · Drill Results

Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - June 10, 2026) - Southern Cross Gold Consolidated Ltd(TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) ("SXGC", "SX2" or the "Company") announces results from seven drill holes from the Apollo and Apollo East prospect from the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 5). Best results included 36.6 m @ 6.5 g/t AuEq (4.0 g/t Au, 1.0% Sb)from 700.0 m in drill hole SDDSC202. The true thickness of the mineralized intervals is interpreted to be approximately 55% to 75% of the sampled thickness for all reported holes.

Four High Level Takeaways:

1.

Best new intersection of 36.6 m @ 6.5 g/t AuEq (4.0 g/t Au, 1.0% Sb) from 700.0 m in SDDSC202, with high grade assays up to 493 g/t Au and 29.1% Sb, with two previously unmodelled high-grade zones adding to the Apollo East vein architecture.

2.

SDDSC214W1 returned the most easterly mineralization identified within the main drill area to date(Figure 3), expanding Apollo East a further 20 m east with intersections on new vein sets including 0.5 m @ 251.4 g/t AuEq (232.0 g/t Au, 8.1% Sb) from 605.2 m and individual assays up to 362.0 g/t Au.

3.

Shallowest Apollo East results to date in SDDSC217, a ~97 m updip extension confirming strong antimony tenor near surface, with 0.1 m @ 130.6 g/t AuEq (55.8 g/t Au, 31.3% Sb) from 324.9 m.

4.

Mineralization continues to step out and grow at depth and along strike, with seven assays exceeding 100 g/t Au and five exceeding 20% Sb across the holes reported, while eleven rigs and 67 pending holes continue the 200,000 m program to Q1 2027.

Michael Hudson, President & CEO, states:_"These seven holes continue to do what Sunday Creek does best, growing the system in every direction we test. SDDSC202 delivered a standout 36.6 m at 6.5 g/t AuEqwith high grade assays up to 493 g/t gold, while SDDSC214W1 has pushed mineralization to the most easterly position yet identified anywhere on the property, opening up new ground at Apollo East. The shallow, antimony-rich results up to 31.3% Sb in SDDSC217 are equally important, confirming strong critical-metal tenor close to surface. With eleven rigs turning and 67 holes pending, we are only accelerating as we drive toward defining the full extent of this exceptional gold-antimony system."_

For Those Who Like the Details - Highlights:

-

SDDSC202 (Apollo East) - drilled east to west and targeted the Apollo East prospect, intersecting 9 vein sets and 6 high-grade veins, of which 2 were previously not recognised or modelled.

-

0.2 m @ 58.6 g/t AuEq(34.9 g/t Au, 9.9% Sb) from 538.8 m

-

36.6 m @ 6.5 g/t AuEq(4.0 g/t Au, 1.0% Sb) from 700.0 m, including:

-

2.7 m @ 34.0 g/t AuEq(18.4 g/t Au, 6.5% Sb) from 703.0 m

-

1.5 m @ 27.3 g/t AuEq(25.2 g/t Au, 0.9% Sb) from 712.1 m

-

0.1 m @ 502.3 g/t AuEq(493.0 g/t Au, 3.9% Sb) from 778.1 m

-

1.3 m @ 30.6 g/t AuEq(14.9 g/t Au, 6.6% Sb) from 894.3 m, a 50 m step down from SDDSC145

-

Individual assays included 493.0 g/t Au, 132.0 g/t Au, 106.0 g/t Au with 25.70% Sb, and 29.10% Sb.

-

SDDSC214 & SDDSC214W1 (Apollo)drilled east to west and targeted the Apollo East and the deeper portions of the Apollo prospect, a daughter hole SDDSC214W1 was completed to achieve appropriate drillhole spacing in Apollo Deeps intersecting 4 vein sets and 3 high-grade vein sets, of which 2 were previously not recognised or modelled, expanding Apollo East 20 m east

-

0.5 m @ 251.4 g/t AuEq(232.0 g/t Au, 8.1% Sb) from 605.2 m

-

1.2 m @ 17.8 g/t AuEq(13.9 g/t Au, 1.7% Sb) from 596.3 m

-

12.1 m @ 4.0 g/t AuEq(3.5 g/t Au, 0.2% Sb) from 634.6 m, including:

-

1.6 m @ 24.2 g/t AuEq (22.9 g/t Au, 0.5% Sb)

-

2.2 m @ 45.0 g/t AuEq(44.9 g/t Au, 0.0% Sb) from 991.9 m, including:

-

0.2 m @ 362.3 g/t AuEq (362.0 g/t Au)

-

Individual assays included 362.0 g/t Au, 232.0 g/t Au with 8.11% Sb, and 207.0 g/t Au.

-

SDDSC217(Apollo East) was drilled east to west and targeted the shallow upper portion of Apollo East. These results are the shallowest Apollo East results to dateand represent a 100 m updip extension

-

0.9 m @ 31.0 g/t AuEq(12.6 g/t Au, 7.7% Sb) from 312.3 m, including:

-

0.3 m @ 84.9 g/t AuEq (33.3 g/t Au, 21.6% Sb)

-

0.1 m @ 130.6 g/t AuEq(55.8 g/t Au, 31.3% Sb) from 324.9 m

-

SDDSC212 (Apollo East) - drilled east to west to target upper Apollo and to provide control to up-dip extensions of Apollo East. Better results included:

-

3.0 m @ 2.1 g/t AuEq(1.6 g/t Au, 0.2% Sb) from 432.0 m

-

SDDSC204 (Apollo Deeps) - drilled east to west and targeted down-dip extension to Apollo Deeps 50 metres below the current exploration target boundaries:

-

1.3 m @ 4.5 g/t AuEq(4.4 g/t Au, 0.0% Sb) from 1,095.5 m

-

4.5 m @ 1.6 g/t AuEq(1.5 g/t Au, 0.0% Sb) from 1,102.0 m

-

SDDSC209 (Apollo East) - south-to-north control hole, eastern side of the Goliath fault

-

Drilled to validate orientation and offsets in the geological model; dyke intersected several times downhole, providing important control for the eastern margin of the Apollo system.

Drill Hole Discussion

Seven drill holes are reported here targeting the Apollo and Apollo East prospects, drilled in an east-to-west orientation to optimize high intersection angles across the steeply dipping vein architecture, with one south-to-north oriented control hole (SDDSC209) drilled to validate geological controls on the eastern side of the Goliath fault.

Seven (7) individual assays exceeding 100 g/t Au and five (5) individual Sb assays greater than 20% Sbwere intersected amongst the seven holes reported showing the continued high-grade growth in Apollo as the exploration continues to step out and expand the known boundaries of the mineralization.

SDDSC202

SDDSC202 was drilled east to west and targeted the Apollo East prospect, intersecting 9 vein sets and 6 high-grade veins, of which 2 were previously not recognised or modelled.

4 individual assays exceeded 100 g/t Au and 3 individual assays exceeded 20% antimony:

-

106.0 g/t Au& 25.70%Sb over 0.18 m from 704.87 m

-

132.0 g/t Au& 2.26% Sb over 0.18 m from 712.67 m

-

493.0 g/t Au& 3.89% Sb over 0.10 m from 778.10 m

-

102.0 g/t Au& 15.00% Sb over 0.13 m from 785.64 m

-

91.5 g/t Au & 29.10% Sbover 0.28 m from 704.59 m

-

81.5 g/t Au & over 0.22 m from 894.64 m - a 50 m step down from SDDSC145 0.5 m @ 2544.5 g/t AuEq (2541.9 g/t Au, 1.1% Sb) from 876.4 m December 9th2024)

Selected composite highlights include:

-

0.2 m @ 58.6 g/t AuEq(34.9 g/t Au, 9.9% Sb) from 538.8 m

-

1.5 m @ 8.7 g/t AuEq(7.6 g/t Au, 0.4% Sb) from 690.6 m

-

36.6 m @ 6.5 g/t AuEq(4.0 g/t Au, 1.0% Sb) from 700.0 m

-

Including 2.7 m @ 34.0 g/t AuEq(18.4 g/t Au, 6.5% Sb) from 703.0 m

-

Including 1.5 m @ 27.3 g/t AuEq(25.2 g/t Au, 0.9% Sb) from 712.1 m

-

Including 2.4 m @ 12.3 g/t AuEq(9.4 g/t Au, 1.2% Sb) from 723.6 m

-

2.3 m @ 5.5 g/t AuEq(4.9 g/t Au, 0.2% Sb) from 750.5 m

-

0.1 m @ 502.3 g/t AuEq(493.0 g/t Au, 3.9% Sb) from 778.1 m

-

1.5 m @ 12.8 g/t AuEq(9.2 g/t Au, 1.5% Sb) from 784.3 m

-

Including 0.8 m @ 22.9 g/t AuEq(16.4 g/t Au, 2.7% Sb) from 785.0 m

-

2.1 m @ 11.9 g/t AuEq(5.0 g/t Au, 2.9% Sb) from 789.0 m

-

1.3 m @ 30.6 g/t AuEq(14.9 g/t Au, 6.6% Sb) from 894.3 m

-

Including 0.9 m @ 42.4 g/t AuEq(20.4 g/t Au, 9.2% Sb) from 894.6 m

SDDSC204

SDDSC204 was drilled east to west and targeted down-dip extension to Apollo Deeps 50 metres below the current exploration target boundaries (Exploration Target March 3rd2025). This drillhole intersected a faulted block of altered sediment and dyke which reduced the potential mineralization window within the drillhole. SDDSC0204 did however provide valuable geological controls at depth and additional drillhole locations will be utilised for future Apollo Deeps drilling to allow for efficient testing. Selected composite highlights include:

-

1.3 m @ 4.5 g/t AuEq(4.4 g/t Au, 0.0% Sb) from 1095.5 m

-

4.5 m @ 1.6 g/t AuEq(1.5 g/t Au, 0.0% Sb) from 1102.0 m

SDDSC209

SDDSC209 was drilled south to north as a control hole on the eastern side of the Goliath fault, designed to test orientation and offsets used in the geological model rather than to deliver a primary mineralised intersection. Dyke was intersected several times downhole providing important geological control for the eastern margin of the Apollo system.

SDDSC212

SDDSC212 was drilled east to west to target upper Apollo and to provide control to up-dip extensions of Apollo East. Selected composite highlights include:

-

3.0 m @ 2.1 g/t AuEq(1.6 g/t Au, 0.2% Sb) from 432.0 m

SDDSC214 & SDDSC214w1

SDDSC214 was drilled east to west and targeted the Apollo East and the deeper portions of the Apollo prospect, a daughter hole SDDSC214W1 was completed to achieve appropriate drillhole spacing in Apollo Deeps intersecting 4 vein sets and 3 high-grade veins, of which 2 were previously not recognised or modelled, expanding Apollo East 20 m east. Three individual assays exceeded 100 g/t Au:

-

232.0 g/t Au& 8.11% Sb over 0.47 m from 605.18 m

-

207.0 g/t Au& 0.08% Sb over 0.14 m from 992.72 m

-

362.0 g/t Au& 0.13% Sb over 0.18 m from 993.97 m

Selected composite highlights include:

-

1.2 m @ 17.8 g/t AuEq(13.9 g/t Au, 1.7% Sb) from 596.3 m

-

Including 0.2 m @ 87.2 g/t AuEq(71.2 g/t Au, 6.7% Sb) from 596.3 m

-

0.5 m @ 251.4 g/t AuEq(232.0 g/t Au, 8.1% Sb) from 605.2 m

-

12.1 m @ 4.0 g/t AuEq(3.5 g/t Au, 0.2% Sb) from 634.6 m

-

Including 1.6 m @ 24.2 g/t AuEq(22.9 g/t Au, 0.5% Sb) from 634.6 m

-

2.2 m @ 45.0 g/t AuEq(44.9 g/t Au, 0.0% Sb) from 991.9 m

-

Including 0.5 m @ 64.5 g/t AuEq(64.4 g/t Au, 0.0% Sb) from 992.3 m

-

Including 0.2 m @ 362.3 g/t AuEq(362.0 g/t Au, 0.1% Sb) from 994.0 m

SDDSC217

SDDSC217 was drilled east to west and targeted the shallow upper portion of Apollo East. These results are the shallowest Apollo East results to date and represent a 100 m updip extension of the A157 veinset and SDDSC179 (0.4 m @ 14.0 g/t AuEq (12.4 g/t Au, 0.7% Sb) from 368.3 m December 17th2025)

Two individual assays exceeded 20% antimony, highlighting the high antimony presence in the shallow part of the system, including:

-

21.60% Sb& 33.3 g/t Au over 0.33 m from 312.28 m

-

31.30% Sb& 55.8 g/t Au over 0.13 m from 324.90 m

Selected composite highlights include:

-

0.9 m @ 31.0 g/t AuEq(12.6 g/t Au, 7.7% Sb) from 312.3 m

-

Including 0.3 m @ 84.9 g/t AuEq(33.3 g/t Au, 21.6% Sb) from 312.3 m

-

0.1 m @ 130.6 g/t AuEq(55.8 g/t Au, 31.3% Sb) from 324.9 m

Pending Results and Update

Eleven drill rigs are currently operational on the Sunday Creek project. Results are pending from 67 holes currently being processed and analyzedincluding eleven holes that are actively being drilled and two abandoned hole (Figure 2). The Company continues its ongoing 200,000 m drill program through to Q1 2027.

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 1,392 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, Golden Dyke and Rising Sun these individual 'rungs' have been defined over 600 m depth extent from surface to over 1,200 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, 262 drill holes for 123,974.14 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 22 holes for 2,972.92m that were abandoned due to deviation or hole conditions. Fourteen drill holes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area with eleven additional regional holes currently being processed. 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 ninety-six (96) composite intersections exceeding 100 g/t Au and eighty (80) composite intersections between 50 g/t and 100 g/t Au, and one-hundred and twelve (112) composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.

Southern Cross Gold's systematic drill program is strategically targeting these significant vein formations, which are currently defined over 1,550 m strike of the host dyke/sediment ("rails of the ladder") from Christina to Apollo prospects, of which approximately 650 m has been more intensively drill tested (Golden Dyke to Apollo). At least 115 '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 mineralized system (Figure 2).

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 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 5 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 individually as estimated true widths ("ETW"), otherwise they are interpreted to be approximately 55% to 75% 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.

Critical Metal Epizonal Gold-Antimony Deposits

Sunday Creek (Figure 5) 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 (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 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 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.

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) (FSE: MV3)

Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), is defining a leading gold-antimony project at the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne. Sunday Creek is a significant gold and antimony drill discovery in a Tier 1 location, with high-grade drill results including 96 composite intersections exceeding 100 g/t Au from 129,573 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with structures tested from surface to 1,100 m depth.

Sunday Creek's strategic value is enhanced by its dual-metal profile. The Company has a critical mineral the Western world needs. 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 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% to 98% through gravity and flotation.

With a strong cash position, 1,392 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, delivering milestone by milestone.

Ends -

For ASX Compliance: 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

mb@southerncrossgold.comor +1 604 685 9316

Executive Office

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

Nicholas Mead - Corporate Development

info@southerncrossgold.com.auor +61 415 153 122

Justin Mouchacca, Assistant Company Secretary,

jm@southerncrossgold.com.auor +61 3 8630 3321

Subsidiary Office

Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia

NI 43-101 Technical Background and Qualified Person

Kenneth Bush, Head of Exploration for SXGC, a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315), is the Qualified Person 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: