Four Key Points

1. Visible Gold Discovery with High Grades: Drill hole SDDSC173 intersected visible gold in four separate locations with four entirely new vein sets, delivering grades up to 58.0 g/t gold over 0.6 m. The hole returned multiple high-grade intervals including 2.9 m @ 14.4 g/t gold equivalent and 2.5 m @ 18.4 g/t gold equivalent.

2. Expanding Strike Length to 1.5 km: The gold-bearing corridor now extends 1.5 km from Apollo East to Christina West, with westernmost intersections including 7.1 m @ 5.2 g/t gold equivalent containing higher grades up to 74.8 g/t gold. This represents a significant expansion of the known mineralized footprint.

3. Deepest and Most Westerly Intersections: These results include the deepest high-grade gold intersections at Christina, reaching 926 meters depth (580m below surface) with 1.0 m @ 9.5 g/t gold equivalent. They lie approximately 100 m outside the current Exploration Target boundary, proving mineralization extends much deeper and further west than previously defined.

4. Growth Beyond Exploration Target: Multiple high-grade gold zones have been discovered well outside the current exploration area, with drill hole SDDSC160W2 intersecting seven separate mineralized intervals down to record depths. This demonstrates the deposit continues to grow beyond original geological interpretations, expanding the potential resource base.

Michael Hudson, President & CEO, states: "These results demonstrate exceptional geological continuity to the deepest levels tested at Christina. The discovery of high-grade mineralization well outside our current Exploration Target validates our geological model and continues to confirm the robust vertical extent of this impressive system.

"What’s particularly exciting is that our systematic infill drilling continues to discover additional vein sets beyond our original interpretations – SDDSC173 intersected four instances of visible gold with four entirely new vein sets. These results, combined with our extension of the mineralized strike length to 1.5 km from Apollo East to Christina West reinforce Sunday Creek’s position as one of the western world’s most significant gold-antimony discoveries.

"With 33 drill holes currently pending assay results and our 60 km drill program advancing on multiple fronts, we’re positioned to continue expanding this exceptional prospect both laterally and to depth."

FOR THOSE WHO LIKE THE DETAILS

Key Take Aways

Multiple High-Grade Intersections at the Christina prospect:

• SDDSC166: 7.1 m @ 5.2 g/t AuEq (4.9 g/t Au, 0.1% Sb) from 296.7 m, including:
  – 0.1 m @ 76.8 g/t AuEq (74.8 g/t Au, 0.8% Sb) from 296.7 m
  – 0.5 m @ 27.4 g/t AuEq (27.3 g/t Au, 0.1% Sb) from 303.3 m
• SDDSC173: 2.7 m @ 17.1 g/t AuEq (16.3 g/t Au, 0.3% Sb) from 681.8 m, including:
  – 2.5 m @ 18.4 g/t AuEq (17.6 g/t Au, 0.4% Sb) from 681.8 m
• SDDSC173: 2.9 m @ 14.4 g/t AuEq (14.4 g/t Au, 0.0% Sb) from 701.0 m, including:
  – 0.6 m @ 58.0 g/t AuEq (58.0 g/t Au, 0.0% Sb) from 701.0 m

Record Depth Intersections at Christina:

• 1.2 m @ 4.6 g/t AuEq (4.5 g/t Au, 0.0% Sb) from 809.8 m depth (510 m below surface)
• 1.0 m @ 9.5 g/t AuEq (9.4 g/t Au, 0.0% Sb) from 926.2 m depth (580 m below surface)

Geological Continuity and Discovery:

• SDDSC173 intersected four instances of visible gold with four entirely new vein sets
• Results demonstrate westward extension of the most westerly prospect, Christina
• Strike length now extends 1.5 km from Apollo East to Christina West
• All holes confirm consistent mineralization beyond original geological interpretations

Drill Hole Discussion

Results from seven diamond drill holes SDDSC160, SDDSC160W1, SDDSC160W2, SDDSC165, SDDSC166, SDDSC172, and SDDSC173 from the Christina prospect demonstrate the effectiveness of the Company’s systematic exploration drilling approach and validate the exceptional vertical continuity of the Sunday Creek system.

Christina Area – Record Depth Achievement

SDDSC173 represents the key result with four instances of visible gold identified in core and the intersection of four entirely new vein sets beyond the original geological interpretations.

Key highlights include:

• 1.3 m @ 1.9 g/t AuEq (1.3 g/t Au, 0.3% Sb) from 502.9 m
• 2.7 m @ 17.1 g/t AuEq (16.3 g/t Au, 0.3% Sb) from 681.8 m, including:
  – 2.5 m @ 18.4 g/t AuEq (17.6 g/t Au, 0.4% Sb) from 681.8 m
• 0.3 m @ 13.0 g/t AuEq (12.3 g/t Au, 0.3% Sb) from 686.9 m
• 2.9 m @ 14.4 g/t AuEq (14.4 g/t Au, 0.0% Sb) from 701.0 m, including:
  – 0.6 m @ 58.0 g/t AuEq (58.0 g/t Au, 0.0% Sb) from 701.0 m
  – 0.4 m @ 17.3 g/t AuEq (17.2 g/t Au, 0.0% Sb) from 703.5 m
• 1.8 m @ 1.6 g/t AuEq (1.5 g/t Au, 0.0% Sb) from 724.8 m

SDDSC160W2 delivered the project’s deepest intersections to date at Christina demonstrating the system continues 350 m at depth below the high-grade down-dip extension of drill hole SDDSC137W2 which successfully intersected three high-grade vein sets and significant visible gold including 1.7 m @ 254.0 g/t AuEq (250.8 g/t Au, 1.7% Sb) from 208.2 m.. This represents a significant expansion of the known mineralized envelope and demonstrates the robust nature of the gold-antimony system at depth. SDDSC160W2 interested multiple mineralized zones down to 926.2 m depth (580 m below surface). Key intersections include:

• 1.1 m @ 3.7 g/t AuEq (1.0 g/t Au, 1.1% Sb) from 719.8 m depth
• 2.7 m @ 1.1 g/t AuEq (0.5 g/t Au, 0.3% Sb) from 738.5 m depth
• 1.2 m @ 4.6 g/t AuEq (4.5 g/t Au, 0.0% Sb) from 809.8 m depth
• 0.5 m @ 5.0 g/t AuEq (5.0 g/t Au, 0.0% Sb) from 870.8 m depth
• 0.4 m @ 6.7 g/t AuEq (6.7 g/t Au, 0.0% Sb) from 908.5 m depth
• 1.0 m @ 9.5 g/t AuEq (9.4 g/t Au, 0.0% Sb) from 926.2 m depth
• 0.3 m @ 8.9 g/t AuEq (8.8 g/t Au, 0.0% Sb) from 958.6 m depth

Results from SDDSC166 and SDDSC172 represent the westernmost intersections within the main Sunday Creek zone, bringing the total strike length of the mineralized corridor to 1.5 km from Apollo East to Christina West. This represents a significant expansion of the known mineralized footprint and validates the geological model’s predictive capabilities.

SDDSC166 confirmed the systematic approach with higher grades closer to surface:

• 7.1 m @ 5.2 g/t AuEq (4.9 g/t Au, 0.1% Sb) from 296.7 m, including:
  – 0.1 m @ 76.8 g/t AuEq (74.8 g/t Au, 0.8% Sb) from 296.7 m
  – 0.5 m @ 27.4 g/t AuEq (27.3 g/t Au, 0.1% Sb) from 303.3 m
• 0.5 m @ 6.8 g/t AuEq (6.7 g/t Au, 0.0% Sb) from 470.4 m

SDDSC172 provided valuable geological control and confirmed mineralization continuity:

• 1.6 m @ 2.0 g/t AuEq (1.8 g/t Au, 0.1% Sb) from 248.2 m
• 4.6 m @ 0.8 g/t AuEq (0.4 g/t Au, 0.1% Sb) from 428.5 m

SDDSC165, a shallow 101m hole designed for geological control to define the edges of the host sequence (“rails” of the ladder), as was anticipated, returned low-grade mineralization, helping to define the lateral extent of the main mineralized host.

Pending Results and Program Update

The drilling program continues to advance with 33 holes currently being processed and analyzed. Eight additional holes are actively being drilled.

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.

Cumulatively, 181 drill holes for 88,400.67 m have been reported from Sunday Creek since late 2020. Five holes for 929 m have been drilled for geotechnical purposes. An additional 14 holes for 2990.95 m from Sunday Creek were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have 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 sixty-six (66) >100 g/t AuEq x m and seventy-three (73) >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 high-grade vein formations. Initially these have been defined over 1,500 m strike of the host from Christina to Apollo prospects, of which approximately 620 m have been more intensively drill tested (Rising Sun to Apollo). At least 77 ‘rungs’ have been defined to date, defined by high-grade intercepts (20 g/t 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 (Figures 1 to 3).

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 Michael Hudson, President & CEO, 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, longitudinal views and analysis of drill results reported here and Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported is approximately 65% 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 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 (6-12 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 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 SXG 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.

In August 2024, the Chinese government announced it would place export limits from September 15, 2024 on antimony and antimony products. This puts pressure on Western defence supply chains and 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 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.

Antimony Exempt from Executive Order on Reciprocal Tariffs

Southern Cross Gold Consolidated notes that antimony ores and concentrates (HTSUS code 26171000) are exempt from the April 2, 2025 US Executive Order on Reciprocal Tariffs. The exemption covers antimony ores and concentrates as well as unwrought antimony, antimony powders, antimony waste and scrap, and articles of antimony (HTSUS codes 81101000, 81102000, and 81109000).

About Southern Cross Gold Consolidated Ltd. (TSX:SXGC) (ASX:SX2)

Southern Cross Gold Consolidated Ltd. (TSX:SXGC, ASX:SX2) 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 66 intersections exceeding 100 g/t AuEq x m from just 88 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface 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. 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. Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential.

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.

NI 43-101 Technical Background and Qualified Person

Michael Hudson, President and 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 g 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 and antimony 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 Mandalay Resources Ltd contains two million ounces of equivalent gold (Mandalay 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:

𝐴𝑢𝐸𝑞 = 𝐴𝑢 (𝑔/𝑡) + 2.39 × 𝑆𝑏 (%)

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 𝐴𝑢𝐸𝑞 = 𝐴𝑢 (𝑔/𝑡) + 2.39 × 𝑆𝑏 (%) 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 and Member of the Australasian Institute of Mining and Metallurgy and Mr Hudson is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Bush and Mr Hudson each have sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Exploration Manager and Mr Hudson is President, CEO and Managing Director of Southern Cross Gold Consolidated Ltd. 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 in 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 to the report have not been materially modified from the original market announcement.

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.

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 – Canada
mbermudez@chasemgt.com or +1 604 685 9316   
Executive Office: 1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada

Nicholas Mead – Corporate Development
info@southerncrossgold.com or +61 415 153 122  

Justin Mouchacca, Company Secretary – Australia
jm@southerncrossgold.com.au or +61 3 8630 3321
Subsidiary Office: Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia

In Europe
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
info@resource-capital.ch
www.resource-capital.ch

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 such 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 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 risks 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.