Update on Merger with Polymetals - Notice of Meeting

5. Profile of Southern Cross Goldfields Limited
5.1 History
SXG was incorporated on 12 March 2007 and was listed on the ASX on 20 March 2008. The Company is
involved in the exploration and production of gold projects in Western Australia. SXG also has interests in
base metals and a nickel project through an agreement with Western Areas NL. The flagship project for
SXG is the Marda Gold Project.
During December 2012, SXG acquired the Sandstone Gold Project assets from Troy Resources Limited.
In August 2012, SXG raised $5.2 million following a 2 for 5 renounceable rights issue at $0.045 per share.
The current Board of Directors of SXG comprises:
• Samantha Tough – Non-Executive Chairman
• Glenn Jardine – Managing Director
• Graham Brock – Non-Executive Director
• John Rowe – Non-Executive Director
5.2 Projects
Marda Gold Project
The Marda Gold Project is located 450 km north-east of Perth in Western Australia and is 100% owned by
SXG. SXG has tenement holdings covering more than 2,900km 2 and JORC compliant measured resources of
2.8Mt, indicated resources of 2.6Mt and inferred resources of 3.1Mt for approximately 720,000oz of gold.
The SXG tenements comprise:
• 26 mining leases.
• 91 exploration licences.
• 92 prospecting licences.
• 1 general purpose leases.
• 11 miscellaneous licences.
• 2 retention leases.
A feasibility study was completed on the project in 2012.
Marda comprises two areas: Northern Deposits and Southern Deposits. The Northern Deposits include the
Marda Central deposits, the Red Legs and Die Hardy Deposits, King Brown and Golden Orb. The Southern
Deposits comprise Battler and British Hill.
In August 2011, SXG entered into an option agreement with Barranco Resources NL (“Barranco”) to
acquire the Red Legs and Die Hardy deposits. If SXG elects to exercise the option, it will pay $0.5 million
in cash and issue 20 million SXG shares to Barranco. The option expires in August 2013 and SXG have
advised us that they intend on exercising the option.
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