Mawson Gold Limited announced Southern Cross Gold Ltd. has released results from the Rising Sun prospect at the 100%-owned Sunday Creek Project in Victoria, Australia. SDDSC118 is the deepest hole on the project, extending high grade mineralization 80 m down dip (3.6 m @ 124.8 g/t Au) and intersecting multiple high-grade structures including three new vein sets at depth. The hole recorded three additional > 100 g/t AuEq x m intersections and two top 10 results for Sunday Creek.

Highlights: SDDSC118 is the deepest hole on the project and extended mineralisation 80 m down dip with 3.6 m @ 124.8 g/t Au from 1,120.4 m (1,050 m vertically below surface). The hole intercepted 11 high-grade vein sets, including three new vein sets at depth with three additional > 100 g/t AuEq x m intersections and two top 10 results for Sunday Creek (0.7 m @ 604.0 g/t Au and 3.6 m @ 124.8 g/t Au) and included seven assayed intervals of > 50 g/t Au (with three individual assays >900 g/t Au), and four assayed intervals > 2% Sb (up to 19.4% Sb). Drill highlights include: 3.1 m @ 39.9 g/t AuEq (38.2 g/t Au, 0.9% Sb) from 452.5 m, including: m @ 87.9 g/t AuEq (84.6 g/t Au, 1.7% Sb) from 454.2 m; 0.4 m @ 71.2 g/t AuEq (70.3 g/t Au, 0.5% Sb) from 475.4 m, including: 0.1 m @ 235.2 g/t AuEq (235.0 g/t Au, 0.1% Sb) from 475.4 m; 0.7 m @ 604.0 g/t AuEq (604.0 g/t Au, 0.0% Sb) from 555.7 m, including: 0.5 m @ 979 g/t AuEq (979 g/t Au, 0.0% Sb) from 555.7 m; 1.3 m @ 43.3 g/t AuEq (42.5 g/t Au, 0.4% Sb) from 675.1 m, including: 0.3 m @ 201.9 g/t AuEq (200.0 g/t Au, 1.0% Sb) from 675.1 m; 3.6 m @ 124.8 g/t AuEq (124.8 g/t Au, 0.0% Sb) from 1,120.4 m, including: 0.2 m @ 1,200 g/t AuEq (1,200 g/t Au, 0.1% Sb) from 1,120.4 m and 0.2 m @ 1,030 g/t AuEq (1,030 g/t Au, 0.0% Sb) from 1,121.0 m; 0.2 m @ 36.0 g/t AuEq (36.0 g/t Au, 0.0% Sb) from 1,180.8 m. Ten drill holes at Sunday Creek at are being processed and analysed, with four holes in progress.

Mawson owns 96,590,910 shares of SXG (49.6%), valuing its stake at AUD 270.4 million (CAD 247.0 million) based on SXG's closing price on June 12, 2024 AEST. Drill Hole Discussion: One drill hole (SDDSC118) is reported from the Rising Sun prospect. The hole was designed to test the hanging wall position of one high-grade vein set and drill to depth further east than tested previously.

The hole intercepted 11 mineralized structures, eight of which are high-grade. SDDSC118 is the deepest hole on the project and extended high grade mineralization 80 m down dip (3.6 m @ 124.8 g/t AuEq). The hole intersected multiple high-grade structures, including seven assayed intervals of > 50 g/t Au (up to 1,200 g/t Au), and four assayed intervals > 2% Sb (up to 19.4% Sb), with three additional > 100 g/t AuEq x m intersections and two top 10 results for Sunday Creek (0.7 m @ 604.0 g/t Au and 3.6 m @ 124.8 g/t AuEq).

Three new vein sets were defined, and mineralization was extended 80 m below the exploration target. The hole traversed from the hanging wall to footwall of the dyke/breccia host and provided continuity information in the plane of the eight known vein sets with three new discoveries at depth including 3.6 m @ 124.8 g/t AuEq (including 0.8 m @ 558.2 g/t AuEq) from 1,120.4 m and 0.2 m @ 36.0 g/t AuEq from 1,180.8 m. High-grade continuity is best demonstrated in vein set RS15 (Figure 3) where SDDSC118 drilled 0.7 m @ 604.0 g/t AuEq (604.0 g/t Au, 0.0% Sb) from 555.7 m (estimated true width ETW 0.4 m) including 0.5 m @ 979.0 g/t AuEq from 555.7 m. This intersection was located 54 m down-plunge of the previously reported SDDSC100 (4.7 m @ 76.6 g/t AuEq) and 42 m up-plunge from the previously reported SDDSC082 (4.3 m @ 72.3 g/t AuEq), increasing confidence in the definition of the high-grade core of RS15. Highlights from SDDSC118 include: 3.1 m @ 39.9 g/t AuEq (38.2 g/t Au, 0.9% Sb) from 452.5 m, including: 1.4 m @ 87.9 g/t AuEq (84.6 g/t Au, 1.7% Sb) from 454.2 m; 0.3 m @ 12.6 g/t AuEq (12.0 g/t Au, 0.3% Sb) from 459.3 m; 0.4 m @ 71.2 g/t AuEq (70.3 g/t Au, 0.5% Sb) from 475.4 m, including: 0.1 m @ 235.2 g/t AuEq (235.0 g/t Au, 0.1% Sb) from 475.4 m; 0.2 m @ 8.5 g/t AuEq (7.4 g/t Au, 0.6% Sb) from 487.6 m; 0.4 m @ 12.7 g/t AuEq (12.6 g/t Au, 0.1% Sb) from 502.2 m; 0.4 m @ 46.3 g/t AuEq (44.8 g/t Au, 0.8% Sb) from 540.4 m; 0.7 m @ 604.0 g/t AuEq (604.0 g/t Au, 0.0% Sb) from 555.7 m, including: 0.5 m @ 979.0 g/t AuEq (979.0 g/t Au, 0.0% Sb) from 555.7 m; 0.1 m @ 12.2 g/t AuEq (12.2 g/t Au, 0.0% Sb) from 568.6 m; 4.7 m @ 4.6 g/t AuEq (3.5 g/t Au, 0.6% Sb) from 620.4 m, including: 1.4 m @ 11.0 g/t AuEq (9.1 g/t Au, 1.0% Sb) from 621.2 m; 0.6 m @ 5.0 g/t AuEq (4.0 g/t Au, 0.5% Sb) from 624.6 m; 0.1 m @ 193.2 g/t AuEq (193.0 g/t Au, 0.1% Sb) from 627.2 m; 0.4 m @ 11.7 g/t AuEq (11.0 g/t Au, 0.4% Sb) from 632.7 m; 0.1 m @ 27.4 g/t AuEq (26.7 g/t Au, 0.4% Sb) from 657.9 m; 0.2 m @ 28.7 g/t AuEq (23.4 g/t Au, 2.8% Sb) from 663.4 m; 0.5 m @ 6.3 g/t AuEq (5.1 g/t Au, 0.6% Sb) from 671.5 m; 1.3 m @ 43.3 g/t AuEq (42.5 g/t Au, 0.4% Sb) from 675.1 m, including: 0.3 m @ 201.9 g/t AuEq (200.0 g/t Au, 1.0% Sb) from 675.1 m; 0.4 m @ 10.0 g/t AuEq (10.0 g/t Au, 0.0% Sb) from 711.6 m; 0.8 m @ 6.5 g/t AuEq (6.5 g/t Au, 0.0% Sb) from 970.6 m; 3.6 m @ 124.8 g/t AuEq (124.8 g/t Au, 0.0% Sb) from 1,120.4 m, including: 0.8 m @ 558.2 g/t AuEq (558.2 g/t Au, 0.0% Sb) from 1,120.4 m, including 0.2 m @ 1,200 g/t AuEq (1,200 g/t Au, 0.1% Sb) from 1,120.4 m; 0.2 m @ 1,030 g/t AuEq (1,030 g/t Au, 0.0% Sb) from 1,121.0 m; 0.2 m @ 36.0 g/t AuEq (36.0 g/t Au, 0.0% Sb) from 1,180.8 m. Pending Results and Update Ten holes (SDDSC114W1, 119, 119W1, 120, 121, 121W1, 122, 123, 124, 125) are currently being processed and analyzed, with four holes (SDDSC122W1, 050W1, 126, 127) in progress.