Update on Merger with Polymetals - Notice of Meeting

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Pro Forma Gold Resource Table Measured Indicated Inferred Total Resources kt g/t Au koz kt g/t Au koz kt g/t Au koz kt g/t Au koz Canbelego (1) 39 6.4 8 646 4.0 84 82 3.9 10 766 4.1 102 Turner River Gold JV (Earning In) 2) Combined Polymetals Project Total (3) 2,669 1.8 157 1,145 1.3 47 2,936 1.5 141 6,750 1.6 345 2,707 1.9 165 1,791 2.28 131 3,018 1.6 151 7,516 1.9 448 Marda (4) 2,796 2.3 204 2,640 1.8 155 3,052 1.9 188 8,487 2.0 546 Sandstone (4) 1,932 2.4 146 12,586 1.4 574 14,518 1.5 720 Combined Southern Cross Total Polymetals / Southern Cross Total (5) 2,796 2.3 204 4,572 2.1 301 15,638 1.5 762 23,005 1.7 1,266 5,503 2.1 368 6,362 2.1 433 18,655 1.5 914 30,521 1.8 1,714 Polymetals Share / Southern Cross Total (6) 4,836 2.1 329 6,076 2.2 421 17,921 1.5 878 28,833 1.8 1,627 (1) Mt Boppy; 2.5g/t cut-off; Boppy Sth: 1.0g/t cut-off (2) Polymetals has a entered into an agreement with De Grey Mining to earn a 75% interest in the Turner River Gold Project (3) Total includes 100% Turner River Resources (4) Refer Competent Persons Statement (5) Figures may not add due to rounding. Includes 100% Turner River JV Resources (6) Figures may not add due to rounding. Includes 75%Turner River JV Resources
Pro Forma Gold Reserve Statement Proved Probable Total kt Au g/t oz kt Au g/t oz kt Au g/t oz Marda(1) 1,900 2.4 149,200 300 2.7 29,300 2,300 2.4 178,500 Mt Boppy 42 5.6 7,636 507 4.2 68,312 549 4.3 75,945 Polymetals / SXG Total (1) 1,942 2.5 156,836 807 3.8 97,612 2,849 2.8 254,449 (1) Note: Rounding conforming to JORC to appropriate levels of precision may cause minor computational errors.
Page 1 and 2: ASX ANNOUNCEMENT / MEDIA RELEASE Fr
Page 3 and 4: ABN 71 124 374 321 U16,162 Colin St
Page 5 and 6: 3. Access to the cash reserves of P
Page 7 and 8: Disclaimer and Important Notice •
Page 9 and 10: SXG - Well Placed • • •
Page 11 and 12: SXG and PLY - Key Merger Metrics
Page 13 and 14: Indicative Merger Timetable •
Page 15 and 16: A Diversified Portfolio of Australi
Page 17 and 18: Marda Project • Rare greenfields
Page 19 and 20: Northern Gold Corridor Targets - Dr
Page 21 and 22: WA Gold Assets - Turner River • P
Page 23 and 24: Mt Boppy - A Near-Term Production O
Page 25: ASX Code: Investor Presentation J
Page 30 and 31: ABN 71 124 374 321 U16,162 Colin St
Page 32 and 33: - 3 - Notice of General Meeting Not
Page 34 and 35: - 5 - Proxy appointment, voting and
Page 36 and 37: - 7 - 1.2 Rationale for the Merger
Page 38 and 39: - 9 - 1.5 Implementation of the Mer
Page 40 and 41: - 11 - in terms of assets and marke
Page 42 and 43: - 13 - (a) You may not agree with t
Page 44 and 45: - 15 - (b) the Technical Specialist
Page 46 and 47: - 17 - (a) Identity of the person r
Page 48 and 49: - 19 - (i) Other matters The Direct
Page 50 and 51: - 21 - The purpose of Resolution 2
Page 52 and 53: - 23 - Schedule 1 - Information abo
Page 54 and 55: - 25 - Woodside Energy Ltd and Dire
Page 56 and 57: - 27 - Stephen Jones (Chief Financi
Page 58 and 59: - 29 - In accordance with ASIC Clas
Page 60 and 61: - 31 - million SXG Options which ha
Page 62 and 63: - 33 - Schedule 2 - Terms & Conditi
Page 64 and 65: - 35 - the Company out of profits o
Page 66 and 67: - 37 - Glossary In this Explanatory
Page 68 and 69: - 39 - Peak Litigation The litigati
Page 70 and 71: - 41 - Annexure A Refer enclosed In
Page 72 and 73: Financial Services Guide 21 June 20
Page 74 and 75: TABLE OF CONTENTS 1. Introduction 1
Page 76 and 77:
2. Summary and Opinion 2.1 Purpose
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The respective advantages and disad
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elieves that there are sufficient r
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Existing SXG PLY Capital structure
Page 84 and 85:
Sandstone Exploration Potential In
Page 86 and 87:
5.3 Historical Balance Sheet Southe
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in tenement acquisition costs also
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The current SXG unlisted options on
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Drew Hill - White Dam Gold Project
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6.4 Historical Statement of Compreh
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At 31 March 2013, PLY have recorded
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Gold Demand/Supply Mined Metric ton
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• On 9 August 2012, Regis Resourc
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eport to be used in our report. At
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eport to be used in our report. At
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Funding assumptions SXG has receive
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AMC modelled two cases for the Mard
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Marda Project Case 2 Units 31-Dec-1
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uildings and water supply. The $38.
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Considering the valuation outcomes
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Southern Cross Goldfields Limited V
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We calculated the corporate costs o
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SXG share price and trading volume
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On 28 February 2013 SXG announced t
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Control Premium The concept of a pr
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We note that SXG’s EV/resource mu
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The Adjusted Mt Boppy Model was pre
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2013 2014 2015 2016 2017 2018 Gold
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AMC and management of PLY advise th
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Mt Boppy Case 2 Mt Boppy Project Ca
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Mt Boppy Case 2 Sensitivity analysi
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Polymetals Mining Limited Value of
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projects. PLY has discounted the to
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The Merged Entity - SXG Low Preferr
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Note f: Minority discount Following
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12. Is the Transaction fair In asse
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As set out in section 12, the Trans
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15. Sources of information This rep
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esponsible for conducting appropria
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Meadowhead Meadowhead Indemnity The
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APPENDIX 2 - VALUATION METHODOLOGIE
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APPENDIX 3 - DISCOUNT RATES SXG We
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Having regard to the above we consi
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Merged Entity Determining the corre
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associated (relative to the compara
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APPENDIX 4 - TECHNICAL SPECIALIST V
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AMC Consultants Pty Ltd ABN 58 008
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BDO CORPORATE FINANCE (WA) PTY LTD
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Update on Merger with Polymetals - Notice of Meeting

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