Southern Cross Gold Welcomes Both A$20 Million Antimony Processing Election Commitment and Decision on Advancing Antimony Grant

Southern Cross Gold Consolidated Ltd (SXGC) has been named a preferred recipient of the Victorian Government's Advancing Antimony Grants program. The company will share over A$750,000 with Gekko Systems to fund pilot-scale metallisation test work on Sunday Creek concentrate.

Test work objectives include confirming gold and antimony recoveries, testing product quality, characterising process residues for environmental permitting, and updating engineering flowsheets for a proposed antimony metallisation facility. The grant is contextualized within the Victorian Labor Government's A$20 million election commitment to build Australia's first antimony processing facility in northern Victoria. This government commitment is conditional on the Labor Party's re-election on November 28, 2026.

Sunday Creek is highlighted as a key Victorian antimony discovery, with antimony representing approximately 15% to 17% of the project's in situ recoverable value. The release follows the acceptance of the company's first mining licence application (MIN009040) in September 2026.

Southern Cross Gold Consolidated Ltd. (SXGC) has secured an A$750,000 grant and a government commitment to process antimony, marking a positive, incremental step that validates the strategic importance of the antimony component at its Sunday Creek project. While the grant is financially immaterial to the company's overall budget, it serves as a crucial de-risking mechanism for future antimony monetization.

The government’s commitment to a A$20 million processing facility is conditional and tied to the outcome of the November 28, 2026 state election, introducing near-term uncertainty that limits immediate market reaction. This development aligns with the company's historical trajectory of securing regulatory approvals, advancing metallurgical studies, and expanding the exploration target. It does not represent a sudden shift in project economics or a surprise financing. Given the company's strategic positioning and previous government engagements, the market likely priced in the importance of antimony processing, meaning the impact is expected and incremental.

Southern Cross Gold Consolidated Ltd is focused on the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne, Victoria, Australia. The project sits on a 1,392-hectare freehold land package within a 16,900-hectare tenure area. Sunday Creek is an epizonal gold-antimony deposit sharing geological similarities with the Fosterville and Costerfield mines. Antimony contributes approximately 15% to 24% of the in situ recoverable value, calculated using an AuEq formula of Au (g/t) + 2.39 × Sb (%).

The company has completed over 130 km of drilling, identifying high-grade intersections across multiple prospects including Christina, Golden Dyke, Rising Sun, Apollo, and Apollo East. Preliminary metallurgical testing confirms non-refractory mineralization with 92%–98% gold recovery via gravity and flotation, producing a low-arsenic antimony-gold concentrate. The company is positioned as a potential Western supplier of antimony, benefiting from AUKUS-related legislative changes and inclusion in the U.S. Defense Industrial Base Consortium (DIBC).