Four Key Points

1.    Exceptional Grade Discovery

Hole SDDSC170A intersected 3.1 m @ 41.8 g/t AuEq (22.7 g/t Au, 8.0% Sb) as well as 10.8 m @ 12.8 g/t AuEq* (12.6 g/t Au, 0.1% Sb) including 0.2 m @ 540.3 g/t AuEq (504 g/t Au, 0.1% Sb) from 672.1 – the highest gold grade recorded at Apollo East.

2.    Major Extension Achievement

Mineralization extended 75 m east and 115 m down-dip beyond previous drilling, significantly expanding the exploration target

3.    Strategic Antimony Bonus

Highest antimony grade of 33.7% Sb at Apollo East reinforces Sunday Creek’s position as a significant Western project for this defence critical mineral

4.    Depth Potential Proven

Multiple +100 g/t Au intersections at depths exceeding 1,000 m confirm the system’s continuity and continued improvement to depth

Michael Hudson, President & CEO, states: "SDDSC170A has delivered exactly what we hoped to find – high-grade extensions at depth and along the eastern margins of the project, beyond our previous drilling boundaries. The 75 m eastward extension of Apollo East takes us into untested ground, while the 504 g/t gold and 33.7% antimony confirm the system maintains exceptional grades as we push deeper. In this case 115 m below previous drilling.

"What makes this particularly significant is the 10.8 m @ 12.6 g/t Au mineralized envelope surrounding the high-grade core. These broader common zones at Sunday Creek introduce potential for different mining methods.

"With nine rigs turning and the system continuing both east and at depth, we have clear vectors to follow. Apollo East is shaping up as the next major prospect area at Sunday Creek."

FOR THOSE WHO LIKE THE DETAILS

Key Take Aways

1. Extension on Easterly Margin and Depth Continuity

SDDSC170A, the deepest east-west hole at Apollo, extended mineralization 75 m east and 115 m down-dip from previous limits. This confirms structural continuity suggesting the system extends well beyond current drilling. Highlights include:

· 10.8 m @ 12.6 g/t Au from 669.7 m (true width ~7.7 m), including:

· 1.7 m @ 66.5 g/t Au from 671.9 m

· 0.2 m @ 504 g/t Au from 672.1 m (highest grade at Apollo East)

· 3.1 m @ 22.7 g/t Au, 8.0% Sb from 690.5 m, including:

– 0.3 m @ 9.9 g/t Au, 33.7% Sb from 691.8 m (highest Sb grade at Apollo East)

· 4.0 m @ 6.5 g/t Au from 616.3 m

· 2.9 m @ 11.3 g/t Au from 1,004.4 m, including:

– 0.2 m @ 115 g/t Au from 1,005.4 m

2. Best Grades Being Discovered at Depth in Apollo Main Zone

The deepest intersections at Sunday Creek continue to return exceptionally high grades, with SDDSC170A delivering the first +100 g/t Au hits below 900 m at Apollo (107 g/t Au at 948.7 m and 115 g/t Au at 1,005.4 m). This demonstrates mineralization not only persists but improves at depth as is common in Victorian epizonal gold-antimony systems, validating the deep drilling strategy.

3. First High-Tenor Intersections in Apollo East

Apollo East, located up to 180 m east of Apollo main, delivered its highest grades to date: 504 g/t Au and 33.7% Sb within broader high-grade intervals including 1.7 m @ 66.5 g/t Au and 2.2 m @ 32.3 g/t Au, 11.5% Sb. These record grades confirm Apollo East hosts the same high-tenor mineralization seen elsewhere at Sunday Creek.

4. Lower-Grade Halo around Higher Grades

High-grade cores sit within broader mineralized envelopes above typical cut-off grades as demonstrated by the 10.8 m @ 12.6 g/t Au intersection. This halo development, common at Sunday Creek, opens potential for larger tonnage mining scenarios.

5. Multiple Parallel Vein Systems

SDDSC170A intersected six distinct mineralized zones between 609 m and 1,011 m depth, demonstrating multiple vein sets.

Drill Hole Discussion 

Four diamond drill holes (SDDSC163/163A/170/170A) are reported from the Apollo and Apollo East prospects. SDDSC163/170 were abandoned due to early deviation and redrilled.

SDDSC170A

SDDSC170A is the deepest east-west orientated drillhole in Apollo and Apollo East prospects to date. The hole delivered multiple high-grade gold and antimony intersections, significantly extending the Apollo East mineralized zone 115 m down dip below the last known mineralization and extending the prospective corridor 75 m to the east of the last known mineralization and outside of the current exploration target.

SDDSC170A highlights include:

• 4.0 m @ 6.7 g/t AuEq (6.5 g/t Au, 0.1% Sb) from 616.3 m
• 1.1 m @ 10.6 g/t AuEq (1.6 g/t Au, 3.7% Sb) from 665.6 m, including:
• 0.6 m @ 16.5 g/t AuEq (0.4 g/t Au, 6.8% Sb) from 666.1 m
• 10.8 m @ 12.8 g/t AuEq* (12.6 g/t Au, 0.1% Sb) from 669.7 m (Estimated True Width (ETW) 7.7m), including
• 0.2 m @ 540.3 g/t AuEq (504 g/t Au, 0.1% Sb) from 672.1 m
• 1.0 m @ 20.1 g/t AuEq (19.3 g/t Au, 0.3% Sb) from 676.6 m
• 1.7 m @ 66.9 g/t AuEq (66.5 g/t Au, 0.2% Sb) from 671.9 m, including:
• 3.4 m @ 6.8 g/t AuEq (6.5 g/t Au, 0.1% Sb) from 676.6 m, including:
• 3.1 m @ 41.8 g/t AuEq (22.7 g/t Au, 8.0% Sb) from 690.5 m, including:
• 0.3 m @ 90.4 g/t AuEq (9.9 g/t Au, 33.7% Sb) from 691.8 m
• 2.2 m @ 59.9 g/t AuEq (32.3 g/t Au, 11.5% Sb) from 691.4 m
• 0.9 m @ 34.3 g/t AuEq (33.8 g/t Au, 0.2% Sb) from 948.4 m, including:
• 0.2 m @ 108.7 g/t AuEq (107 g/t Au, 0.7% Sb) from 948.7 m
• 2.9 m @ 11.3 g/t AuEq (11.3 g/t Au, 0.0% Sb) from 1,004.4 m, including:
• 0.2 @ g/t 115 AuEq (115 g/t Au, 0.01% Sb) from 1,005.4 m
• 1.2 m @ 22.6 g/t AuEq (22.6 g/t Au, 0.0% Sb) from 1,004.4 m, including:

The key milestones achieved from SDDSC170A demonstrate Apollo East is an evolving and broader network of mineralized structures than previously understood and is improving at depth:

1. Surrounding the high grade 1.7 m @ 66.9 g/t AuEq (66.5 g/t Au, 0.2% Sb) from 671.9 m intersection is a lower grade halo of mineralisation, that when lower cut* at a 3 m at 0.3 g/t Au, demonstrates a wider zone: 10.8 m @ 12.8 g/t AuEq (12.6 g/t Au, 0.1% Sb) from 669.7 m (ETW 7.7m). This is common throughout Sunday Creek.
2. The hole intersected the highest individual gold intercept of 0.2 m at 504 g/t Au and 0.11% Sb from 672.1 m in Apollo East
3. It intersected the highest individual antimony intercept of 0.3 m at 33.7% Sb and 9.88 g/t Au from 691.8 m in Apollo East
4. SDDSC170A also returned the deepest individual +100 g/t Au intercepts to date in Apollo with 0.2 m @ 108.7 g/t AuEq (107 g/t Au, 0.7% Sb) from 948.7 m and 0.2 @ g/t 115 AuEq (115 g/t Au, 0.01% Sb) from 1,005.4 m highlighting the high-grade extending to depth at Apollo.

SDDSC170 was abandoned due to early deviation and redrilled as SDDSC170A.

SDDSC163A

Drill hole SDDSC163A intersected peripheral mineralization at depth within the northern edges of the Apollo system. While returning lower grade results, the intersections improve the geological understanding of the mineralized system boundaries and provides valuable data for future targeting within the Apollo prospect area to depth.

SDDSC163A drill hole highlights include:

• 0.1 m @ 59.7 g/t AuEq (58.4 g/t Au, 0.6% Sb) from 980.8 m

SDDSC163 was abandoned due to early deviation and redrilled as SDDSC163A.

Apollo East remains open to expansion in multiple directions, with particular emphasis on eastward extension where geological indicators suggest continued mineralization. The systematic grade improvement observed with depth provides a predictive framework for targeting future drilling campaigns, with the potential for discovering additional high-grade zones at greater depths.

Next steps

Results are pending from 39 holes currently being processed and analyzed, including nine holes that are actively being drilled with continuous news flow expected.

Southern Cross Gold continues its 200,000 m drill program through Q1 2027 with nine rigs currently operating. Immediate priorities include:

• Step-out drilling to test eastern extensions beyond the current exploration target
• Deep drilling to follow up on high-grade intersections at 1,000+ m
• Infill drilling to support initial resource estimation

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, 189 drill holes for 90,513 m have been reported from Sunday Creek since late 2020. Five holes for 929 m have been drilled for geotechnical purposes. An additional 16 holes for 2889 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-nine (69) >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 1,580 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 79 ‚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 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 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) (OTCQX: SXGCF)

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 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.