Southern Cross Project, WA

Executive Summary

The Southern Cross project is the Company’s flagship exploration project, prospective for gold mineralisation and located in close proximity to a number of large producing mine sites.

The project covers 175 km² of tenements and includes three key prospects, which the Company expects to examine through a modern, systematic exploration program.

Glendower

The Glendower prospect is located at the site of a historical mine site 10km north of the Marvel Loch mine.

Glendower has a strong history of production, having delivered 360 tonnes at an average grade of 18.6 grams per tonne of gold.

The area is divided into two open and pits – Glendower North and South – and the Company anticipates exploring both regions, as well as the wider region through step-out drilling.

Historic exploration at Glendower has yielded successful results, including: 9m @ 28.41 g/t Au from 33m, including 3m @ 81.15g/t Au

To date, no exploration work has been conducted at a depth lower than 100m, offering the Company opportunity at shallow targets as well as at depth.

Xantippe & Treasury South

The Xantippe and Treasury South prospects are located across contiguous tenements that are approximately 4km north-west of the Marvel Loch mine.

The tenements contain a series of historical workings which date back to the early 1900s, however no modern exploration has been conducted as site. This presents the company with a compelling opportunity within one of the world’s top-tier gold destinations.

Like Glendower, no drilling has been conducted at a depth below 100m, and existing exploration has returned positive results.

At the Xantippe prospect, historical exploration has returned: 13m @ 4.69 g/t Au from 38m.

Results at Treasury South are also encouraging, with a best result of: 2m @ 5.78 g/t Au from 92m.

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