22:35:24 EST Sat 07 Feb 2026
Enter Symbol
or Name
USA
CA



Golden Cross Resources Inc
Symbol AUX
Shares Issued 65,009,537
Close 2025-08-25 C$ 0.87
Market Cap C$ 56,558,297
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Golden Cross starts drilling at Shepherd's Hill

2025-08-25 17:02 ET - News Release

Mr. Matt Roma reports

GOLDEN CROSS RESOURCES LAUNCHES FIRST-EVER DRILLING AT SHEPHERD'S HILL AND WELCOME REEF GOLD PROSPECTS

Golden Cross Resources Inc. has commenced drilling at the Shepherd's Hill prospect and has secured a key access agreement at the Welcome Reef goldfield. Both areas host a rich history of artisanal mining and high-grade gold production dating back to the 1800s, yet neither has ever been explored with modern techniques. This program marks the first opportunity to unlock the true potential of these historic goldfields using contemporary exploration methods.

Shepherd's Hill -- first drilling of a structurally robust target

Located within Golden Cross's 100-per-cent-owned Reedy Creek project, Shepherd's Hill is a never-before-drilled high-grade gold prospect. The area hosts a series of quartz-sulphide reefs within folded turbidites, worked only at surface by early artisanal miners. Golden Cross's current program -- 2,000 metres across five holes -- represents the first modern test beneath those historic workings. To date the company has completed over 900 metres of drilling at Shepherd's Hill. Assays are anticipated in Q4 2025.

Initial drilling at Shepherd's Hill, which was designed around preliminary structural mapping at surface, has successfully intercepted the targeted quartz reefs at depth. Analysis of the early diamond drill core is revealing the presence of structural indicators, including shears and tension veins. These structures do not occur randomly, and they provide the company with insight into the mechanisms driving gold mineralization in the area. They are a powerful vectoring tool that will be used to guide future drilling targeting zones of dilation, which are potential sites for gold deposition.

Welcome Reef -- historic high-grade gold production, never before drilled

In addition to drilling at Shepherd's Hill, Golden Cross has finalized an access agreement allowing the company to commence surface mapping, geophysics and drilling at the Welcome Reef goldfield. Welcome Reef has an extensive history of artisanal gold exploration and production dating back to the 1800s, but has never before been drilled. To date, no previous claim owners or operators have successfully secured land access to drill at the Welcome Reef area -- making Golden Cross the first company to advance modern exploration of this historically producing goldfield.

A legacy of wealth creation, now ready for modern exploration

Welcome Reef, part of the historic Ti Tree Creek Goldfield first discovered in 1859, is more than just another historic Victorian goldfield -- it is a cornerstone of Australia's gold rush heritage and financial history.

Mining records indicate that at least 9,000 ounces of gold were extracted from the Ah Mouy mine at Welcome Reef between June, 1874, and September, 1891, from approximately 10,500 tonnes of ore grading an average of 25 grams per tonne gold (Au). Historical reports note that the width and length of the vein increased with depth, and grades remained remarkably consistent throughout the orebody -- an encouraging sign that the system may be far from exhausted. Golden Cross plans to drill beneath the historic workings at Welcome Reef testing for gold mineralization. The drill design will be based on detailed structural mapping of the historic workings currently under way at the Welcome Reef area.

Welcome Reef: the foundation of Australia's largest bank

The Welcome Reef district is synonymous with Louis Ah Mouy, a pioneering Chinese prospector who arrived in Victoria in 1851. Ah Mouy's success at the Welcome Reef and nearby fields generated a fortune that he later used to help establish what is now Westpac Bank -- today one of Australia's largest financial institutions. His story exemplifies how discoveries in this region have historically translated into long-lasting economic impact.

With access now secured at Welcome Reef, Golden Cross will deploy geophysics, structural mapping and targeted drilling to unlock the full potential of this underexplored system.

Management commentary

Matthew Roma, chief executive officer of Golden Cross Resources, stated: "With the access agreement at Welcome Reef now secured, we have two parallel opportunities: advancing a brand-new discovery at Shepherd's Hill and applying modern exploration techniques to a historically proven goldfield at Welcome Reef. This combination of fresh targets and historic producers, combined with the potential we see at our current drilling at Reedy Creek, underpins the scale of our Victorian opportunity."

The company has completed 2,242 metres of drilling across the Reedy Creek project with assays still pending.

Marketing engagement

The company announces that it has entered into a marketing services agreement with Resource Stock Digest (RSD), a company based out of Texas, effective Sept. 15, 2025, pursuant to which, among other things, RSD has agreed to provide certain promotional services to the company in accordance with Policy 3.4 -- Investor Relations, Promotional and Market-Making Activities of the Exchange. RSD has been engaged for a three-month advertising and marketing program for total cash consideration of $200,000 (U.S.), which shall be due upon receipt of approval of the agreement by the exchange. RSD conducts interviews with the company and produces company-approved content that is distributed to RSD's subscriber base and connects issuers to the investment community across North America.

There is no performance factors contained in the agreement and RSD will not receive common shares or options as compensation. Further, RSD and the company are arm's length and, at the time of the agreement, neither RSD nor any of its principals have an interest, directly or indirectly, in the securities of the company. The agreement is subject to the approval of the exchange. RSD is owned and operated by Gerardo Del Real and Nick Hodge, and its contact details are as follows: Gerardo Del Real, 2051 Gattis School Rd., Ste. 540 PMB 176, Round Rock, Tex., 78664, United States; e-mail: editor@resourcestockdigest.com.

About Golden Cross Resources Inc.

Golden Cross Resources is a Canadian mineral exploration company focused on advancing its high-grade Reedy Creek gold project in Victoria, Australia. Located just 10 kilometres from Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous tenements in one of Australia's most active epizonal gold corridors.

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