Southern Cross Gold Drills 0.6 m @ 972 g/t Gold in Apollo and Drills Easternmost Mineralization

Southern Cross Gold Consolidated Ltd. (SXGC) has released results from five drill holes at its Sunday Creek Gold-Antimony Project in Victoria, with all drilling conducted east-to-west across the Apollo and Apollo East prospects.

Key reported intercepts include:

• SDDSC222W1: 0.6 m @ 993.2 g/t AuEq (972.0 g/t Au, 8.9% Sb) from 808.5 m, described as the 9th best composite intersection at Sunday Creek, ~620 m below surface, extending the A130 vein set 40 m deeper.
• SDDSC227: 5.1 m @ 27.2 g/t AuEq (18.4 g/t Au, 3.7% Sb) from 260.9 m, including 2.6 m @ 51.1 g/t AuEq (34.2 g/t Au, 7.1% Sb). This is the shallowest high-grade hit in Apollo East, ~144 m below surface, and includes a 0.5 m assay of 116.0 g/t Au with 32.5% Sb.
• SDDSC227: 0.8 m @ 10.8 g/t AuEq (7.8 g/t Au, 1.3% Sb) from 209.0 m, the easternmost significant intersection at Sunday Creek, ~110 m below surface.
• SDDSC222: 118 m stacked zone averaging 1.6 g/t AuEq (1.0 g/t Au, 0.26% Sb), with a 39.3 m @ 3.3 g/t AuEq core, including 5.7 m @ 7.5 g/t AuEq and 2.1 m @ 20.0 g/t AuEq.
• SDDSC223: several narrow high-grade zones, including 2.3 m @ 13.9 g/t AuEq, 1.4 m @ 11.4 g/t AuEq and 0.1 m @ 101.6 g/t AuEq (97.6 g/t Au, 1.7% Sb).
• SDDSC234: modest results, 0.3 m @ 7.7 g/t AuEq and 1.1 m @ 7.0 g/t AuEq.

Since late 2020, the project has reported 283 holes for 136.9 km, yielding 98 composite intersections above 100 g/t Au and 111 composites above 10% Sb. Results are pending from 72 holes, with 11 rigs currently running as part of a 200,000 m program through Q1 2027.

Southern Cross Gold Consolidated Ltd. (SXGC) shares have appreciated significantly from C$6.24 in early September 2025 to a high of C$12.98 on 25 August 2026, with the stock last closing at C$11.23. This movement follows multiple prior high-grade releases and an exploration target update on 4 August 2026 that outlined a potential 3.0-4.6 moz AuEq resource. The market capitalization now stands at approximately C$3.0B, despite the absence of a formal resource, indicating that investors are already pricing in high-grade scale and repetition.

The most recent prior anchor was the 25 August 2026 release of 0.3 m @ 1,466 g/t Au at Rising Sun Deep, which contributed to the C$12.98 high. Against this embedded expectation, today’s release is positive but not transformative. The latest intercept of 0.6 m @ 993.2 g/t AuEq represents a 596 g·m core and ranks as only the 9th best composite on the project. It does not set a new record for grade or width.

While the easternmost extension and shallow Apollo East high-grade results represent meaningful incremental step-outs, they do not open a new district-scale zone. Additionally, a modest hole, SDDSC234, and a broad low-grade halo in SDDSC222 offset the headline bonanza. The results do not qualify as a miss, nor do they fall below an embedded anchor in grade-and-width substance. However, because the release is not a new discovery or a record result, and the market has already repriced the company for this type of high-grade cadence, it does not constitute a material positive event.

Southern Cross Gold Consolidated Ltd. is a Canadian-listed junior explorer focused on the Sunday Creek Gold-Antimony Project in Victoria, Australia, located 60 km north of Melbourne. The company also holds the Redcastle project, situated 64 km NNW of Sunday Creek and 7 km along strike from the Costerfield mine.

The Sunday Creek project is 100% owned within 16,900 ha of granted exploration tenements, including a freehold land position of approximately 2,296 ha that encompasses the main drilled area. The mineralization is an epizonal Au-Sb vein system within the Melbourne Structural Zone of the Lachlan Fold Belt. There is no formal Mineral Resource or Reserve; however, an August 2026 Exploration Target is conceptual at 3.0-4.6 moz AuEq, grading 8.9-12.1 g/t AuEq. Mineralization is defined over more than 1,550 m of drill-tested strike, with approximately 650 m intensively tested.

A 200,000 m drill program is running through Q1 2027, with an exploration decline under construction to enable 24 rigs. Preliminary metallurgy has reported gold recoveries of 93-98% and antimony recoveries of 83-93%.

According to FY2026 financials, the company held C$119.1 million in cash as of 31 May 2026 with no debt. The net loss for FY2026 was C$5.5 million, while total assets stood at C$275.6 million and total equity at C$266.9 million. There are approximately 269.3 million shares outstanding. The company is a pre-revenue explorer with strong liquidity relative to its C$3 billion market valuation.