Golden Cross Upsizes Previously Announced Non-Brokered Private Placement

Financing Execution and Upsizing

• Golden Cross Resources has fully subscribed to an increased non-brokered private placement, raising up to C$3.75 million in gross proceeds.
• The offering consists of 22,058,824 units priced at $0.17 per unit, with each unit comprising one common share and one-half of a common share purchase warrant.
• Proceeds are allocated to exploration drilling and development at the Reedy Creek high-grade gold project in Victoria, Australia, alongside general working capital and administrative expenses.
• Warrants carry an exercise price of $0.30 per share and are exercisable for two years from the closing date.
• Securities are subject to a statutory hold period of four months and one day.
• The offering size was increased from a previously announced C$3.0 million target on May 26, 2026, due to significant investor demand.

Capital Extension vs. Dilution

• The C$3.75 million raise extends the company's cash runway by approximately three quarters, given a Q1 2026 net loss of $1.27 million and operating cash burn of $1.24 million.
• The issuance of 22.06 million units at $0.17 introduces substantial dilution, increasing the share count by roughly 29% and adding ~11.03 million warrants to the capital structure.
• The $0.17 issue price represents a ~62% discount to the July 2025 placement price of $0.45, signaling a sharp repricing of the company's equity and highlighting immediate liquidity pressure.
• While fully subscribed and upsized indicates baseline investor interest, the steep discount and heavy dilution at a depressed price level are structurally negative for existing shareholders.

Corporate Profile

• Golden Cross Resources is an exploration-stage gold company focused on the Reedy Creek gold project in Victoria, Australia.
• The company employs modern structural, geochemical, and drilling techniques to de-risk orogenic gold targets in a prolific geological belt.
• Management includes CEO Matthew Roma and VP Exploration Alan Till (Qualified Person), with a focus on testing fault-controlled anticline folds analogous to major Victorian gold mines like Fosterville and Costerfield.