Southern Cross Goldfields Ltd ABN 71 124 374 321 ASX Code: SXG Web: www.scross.com.au ASX Announcement: 28 February 2013 ANOTHER SIGNIFICANT NEW GOLD TARGET IDENTIFIED AT MARDA Key Points Auger geochemical sampling identifies a new gold target approximately 40 kilometres north-west of Marda. The White Pointer Target is 2,200 metres long and untested by previous drilling: RAB drilling planned. Further to its announcement of 18 February, Southern Cross Goldfields Limited (ASX: SXG SXG or the Company ) is pleased to advise that it has identified another significant gold target from the recent systematic regional auger drilling soil sampling programmes within its extensive Marda tenement package, 150km north of Southern Cross in Western Australia (Figure 1). The new target, White Pointer, is located approximately 40km north-west of the proposed gold treatment facility at Marda and, together with the recently identified Thresher prospect, represents a priority RAB drilling target for SXG. The new prospect, White Pointer, is defined by plus 40ppb Au gold values over a strike length of 2,200m with a +100ppb core over 1,000m (Figures 2 and 3). The prospect is parallel to the regional strike of the Evanston Shear and is approximately 1,200 metres northwest of the Red Boomerang Prospect. Red Boomerang is a strongly mineralised nested porphyry system which has returned strong gold intersections from historic drill testing including 11 metres @ 4.7 g/t Au and 6 metres @ 5.8 g/t Au. The Evanston Shear Zone has anomalous gold occurrences identified over 35km of strike. Auger coverage is currently on 200m lines and 40m sample spacing. The maximum gold value is 764ppb Au (approximately 0.8g/t Au). The target has not been tested by drilling previously and SXG aims to complete a RAB drilling programme over the target in March. We are continuing to unearth very exciting new gold targets at Marda, all of which are completely untested by drilling, said SXG s Managing Director, Mr Glenn Jardine. This highlights just how under-explored these tenements really are and how significant the opportunities are to grow our current gold resource inventory. We expect the systematic regional exploration programme to continue to identify targets to follow-up. Update on Marda and Sandstone Gold Projects Further to last week s update, due diligence on the project for the short-listed Marda project financiers by the independent technical expert is expected to be completed this week. Financing options will now be addressed with the short-listed parties. Third party agreements are required to be executed as part of completion of the Sandstone acquisition with parties having existing interests in the Sandstone tenements. Most of these agreements have now been finalised. - ENDS - For further details, please contact Glenn Jardine, Managing Director Southern Cross Goldfields Ltd Telephone: +61 8 9215 7600, email glennj@scross.com.au Refer to www.scross.com.au For media inquiries, please contact: Nicholas Read Read Corporate Telephone: +61 9388 1474, email nicholas@readcorporate.com.au ASX: SXG Shares on Issue: 408.9M Market Cap: $17.6M (at 4.3c) T: +61 8 9215 7600 F: +61 8 9485 1283 E: admin@scross.com.au W: www.scross.com.au PO Box 708, West Perth 6872 Unit 16, 162 Colin St, West Perth 6005.
FIGURE 1 SXG Marda Tenements
FIGURE 2 Regional Soil Results along Evanston Shear
FIGURE 3 Soil results at White Pointer and Red Boomerang
JORC Code Compliance Statement The geological information in the report to which this statement is attached that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Richard Simmons who is a Member of The Australasian Institute of Mining and Metallurgy. Richard Simmons is a full time employee of Southern Cross Goldfields Limited. Richard Simmons has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Richard Simmons consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Disclaimer This document has been prepared by Southern Cross Goldfields Limited (SXG). The information and opinions contained in this document are derived from public and private sources which we believe to be reliable and accurate but which, without further investigation, cannot be warranted as to their accuracy, completeness or correctness. This information is supplied on the condition that SXG, and any director, agent or employee of SXG, are not liable for any error or inaccuracy contained herein, whether negligently caused or otherwise, or for loss or damage suffered by any person due to such error, omission or inaccuracy as a result of such supply. Forward Looking Statements This document contains forward looking statements concerning the projects owned by SXG. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forwardlooking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on SXG s beliefs, opinions and estimates as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Exploration potential is conceptual in nature and where there has been insufficient exploration to define a Mineral Resource it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward looking statements and SXG assumes no obligation to update such information.