Mawson Gold Limited announced Southern Cross Gold Ltd. released results from four diamond drill holes: SDDSC114W1, SDDSC120, SDDSC121 and SDDSC121W1, from the Rising Sun and Golden Dyke prospects at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria. SDDSC121W1 drilled west to east at Rising Sun to extend the strike length of the NW-SE oriented veins sets ("rungs"). It intersected six high-grade vein sets and one previously unmodelled vein set.

It included eight assayed intervals of > 10 g/t Au (up to 558.0 g/t Au), and six assayed intervals > 5% Sb (up to 19.9% Sb). Selected highlights include: 1.0 m @ 11.7 g/t AuEq (3.1 g/t Au, 4.6% Sb) from 618.6 m, including: 0.7 m @ 15.2 g/t AuEq (2.8 g/t Au, 6.6% Sb) from 618.9 m. 0.4 m @ 311.3 g/t AuEq (291.3 g/t Au, 10.6% Sb) from 622.6 m (new vein set defined). 3.4 m @ 56.0 g/t AuEq (53.7 g/t Au, 1.2% Sb) from 661.1 m, including: 1.9 m @ 98.2 g/t AuEq (94.7 g/t Au, 1.9% Sb) from 661.7 m. Drillhole SDDSC120 drilled east to west across Rising Sun and beneath Golden Dyke, intersected five mineralised domains and discovered a new mineralised vein set 450 m vertically down dip below previous drilling at Golden Dyke, within a parallel mineralised zone (a new "golden ladder") in the footwall.

Although of moderate grade, this very large step out is considered extremely encouraging as it shows, for the first time the mineral system continuing 450 m below the main historic mines on the project. Selected highlights include: 2.7 m @ 6.1 g/t AuEq (4.5 g/t Au, 0.8% Sb) from 600.4 m, including: 0.9 m @ 12.9 g/t AuEq (9.6 g/t Au, 1.7% Sb) from 602.1 m. 0.5 m @ 3.7 g/t AuEq (3.7 g/t Au, 0.0% Sb) from 937.0 m (parallel zone in footwall). The fifth drill rig has arrived at site and is drilling at the Christina prospect located 500 m west of Golden Dyke.

Eight drill holes on the project are currently being processed and analyzed, with five holes in progress. Mawson owns 96,590,910 shares of SXG (49.3%), valuing its stake at AUD 211.5 million (CAD 193.7 million) based on SXG's closing price on July 19, 2024 AEST. Four drill holes (SDDSC114W1, 120, 121 and 121W1) are reported from the Rising Sun and Golden Dyke prospects.

SDDSC120 was designed to drill within and parallel to the dyke/breccia host, at a high angle to mineralized vein sets, across Rising Sun and further west to test mineralization deep below Golden Dyke. This hole intersected five known mineralized domains within Rising Sun and one previously undrilled mineralized zone (0.5 m @ 3.7 g/t AuEq from 937.0 m) 450 m below previous drilling (SDDSC062) and 560 m below historic Golden Dyke workings. The footwall discovery was fortuitously tested earlier than planned as the hole exited the main dyke/breccia host sooner than expected.

Highlights from SDDSC120 include: 3.3 m @ 1.9 g/t AuEq (1.3 g/t Au, 0.3% Sb) from 594.7 m, including: 0.5 m @ 5.2 g/t AuEq (3.6 g/t Au, 0.8% Sb) from 597.5 m. 0.4 m @ 9.0 g/t AuEq (7.4 g/t Au, 0.9% Sb) from 600.4 m. 2.7 m @ 6.1 g/t AuEq (4.5 g/t Au, 0.8% Sb) from 600.4 m, including: 0.9 m @ 12.9 g/t AuEq (9.6 g/t Au, 1.7% Sb) from 602.1 m. 0.6 m @ 4.5 g/t AuEq (2.0 g/t Au, 1.3% Sb) from 621.3 m. 10.3 m @ 1.5 g/t AuEq (0.7 g/t Au, 0.4% Sb) from 639.0 m, including: 0.3 m @ 7.6 g/t AuEq (4.4 g/t Au, 1.7% Sb) from 642.4 m. 0.5 m @ 3.7 g/t AuEq (3.7 g/t Au, 0.0% Sb) from 937.0 m. SDDSC121 was designed to test the footwall position of two mineralized domains and deviated against plan resulting in the need to deflect the hole with daughter hole SDDSC121W1. The daughter wedge commenced at 550 m downhole and successfully intercepted and added strike continuity to seven high-grade vein sets including one previously undefined mineralized domain between RS40 and RS50 (0.4 m @ 311.3 g/t AuEq (291.3 g/t Au, 10.6% Sb) from 622.6 m) by an average of 15 metres. SDDSC121W1 extended the RS50 high-grade core shape down plunge by 30m with 3.4 m @ 56.0 g/t AuEq (53.7 g/t Au, 1.2% Sb) including 1.9 m @ 98.2 g/t AuEq (estimated true width ("ETW") of 0.8 m) from 661.1 m. The hole was drilled 68 m and 105 m down plunge respectively from SDDSC050 (7.0 m @ 8.0 g/t AuEq) and SDDSC107 (15.0 m @ 16.3 g/t Au Eq).

SDDSC121W1 also contributed two further +100 g/t AuEq x m intercepts (at 2 m @ 1 g/t AuEq cutoff) bringing the cumulative total of +100 g/t AuEq x m intercepts to 43 at Sunday Creek. Highlights from SDDSC121W1 include: 1.0 m @ 4.0 g/t AuEq (1.3 g/t Au, 1.4% Sb) from 600.2 m, including: 0.4 m @ 5.7 g/t AuEq (1.9 g/t Au, 2.0% Sb) from 600.4 m. 0.2 m @ 36.5 g/t AuEq (14.9 g/t Au, 11.5% Sb) from 613.2 m. 1.0 m @ 11.7 g/t AuEq (3.1 g/t Au, 4.6% Sb) from 618.6 m, including: 0.7 m @ 15.2 g/t AuEq (2.8 g/t Au, 6.6% Sb) from 618.9 m. 0.4 m @ 311.3 g/t AuEq (291.3 g/t Au, 10.6% Sb) from 622.6 m. 4.6 m @ 1.1 g/t AuEq (0.5 g/t Au, 0.4% Sb) from 628.5 m. SDDSC114W1 was drilled to test the hanging wall location of several Rising Sun vein sets, however the hole deviated north away from the mineralized zone and only intercepted periphery/background mineralization of two vein sets. Cumulatively, 126 drill holes for 55,027 have been reported by SXG (and Mawson Gold Ltd) from Sunday Creek since late 2020.

An additional 10 holes for 439 m from Sunday Creek were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008.

The project now contains a total of forty-three (43) >100 g/t AuEq * m and forty-nine (49) >50 to 100 g/t AuEq * m drill holes by applying a 2 m @ 1 g/t lower cut.