Golden Cross Resources Launches First-Ever Drilling at Shepherd's Hill and Welcome Reef Gold Prospects

Rhea-AI Summary

Golden Cross Resources (OTCQB: ZCRMF) has initiated its first-ever drilling program at two historic Victorian goldfields: Shepherd's Hill and Welcome Reef. At Shepherd's Hill, the company has completed over 900 meters of a 2,000-meter drilling program across five holes, with assays expected in Q4 2025.

The company has also secured a landmark access agreement at the historic Welcome Reef Goldfield, which historically produced 9,000+ ounces of gold at grades of 25 g/t Au. Welcome Reef has never been explored using modern techniques, making Golden Cross the first company to conduct contemporary exploration at this site.

To date, Golden Cross has completed 2,242 meters of drilling across the Reedy Creek Project. The company has also engaged Resource Stock Digest for a 3-month marketing program for USD $200,000.

Positive

• First company ever to secure drilling access to Welcome Reef historic goldfield
• Historic Welcome Reef production of 9,000+ oz at impressive 25 g/t Au grade
• Successful interception of targeted quartz reefs at Shepherd's Hill
• Historical reports indicate Welcome Reef's width and grade improved with depth

Negative

• Drilling results and assays still pending with no guaranteed success
• Significant marketing expenses with $200,000 promotional program

• First-ever drilling at Shepherd's Hill and Welcome Reef – historically producing goldfields worked only by artisanal miners in the past.

• Welcome Reef legacy: Produced 9,000+ oz @ 25 g/t Au¹, with widths and grades improving at depth – Golden Cross plans to drill beneath where artisanal miners previously explored.

• Historic wealth creation: Legendary prospector Louis Ah Mouy's success at Welcome Reef helped establish Westpac Bank, now Australia's oldest and one of its largest banks.

Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) - Golden Cross Resources (TSXV: AUX) (OTCQB: ZCRMF) (FSE: ZML0) ("Golden Cross" or the "Company") is pleased to announce it 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.

Figure 1 – Reedy Creek Goldfield Prospects

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Shepherd's Hill – First Drilling of a Structurally Robust Target

Located within Golden Cross's 100%-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 don't occur randomly, and they provide us 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.

Figure 2 – Shepherd's Hill Prospect

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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.

Figure 3 – Welcome Reef Prospect

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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 gold² 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 g/t Au³. Historical reports note that the width and length of the vein increased with depth, and grades remained remarkably consistent throughout the ore body⁴ – 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 mineralisation. The drill design will be based on detailed structural mapping of the historic workings currently underway 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, CEO 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 (the "Agreement") with Resource Stock Digest ("RSD"), a company based out of Texas, effective September 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 3-month advertising and marketing program for total cash consideration of USD $200,000, 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, TX 78664, USA; Email: editor@resourcestockdigest.com.

Sources:

(1., 2., 3., 4.) Corlett, S., Annual Report on EL 3746 - Flowerdale, 1996

About Golden Cross Resources

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

For more information:
Matt Roma, Director & CEO
+1-778-736-3356
info@goldencrossresources.com

Additional information about Golden Cross can be found on its website: www.goldencrossresources.com and at www.sedarplus.ca.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating plans for future exploration and drilling and the timing of same, the merits of the Company's mineral projects and other plans of the Company, including statements relating to the use of proceeds and completion of the Offering. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated with exploration and drilling; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.

Forward-looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263696

FAQ

What is the significance of Golden Cross Resources (ZCRMF) drilling at Welcome Reef?

This marks the first-ever modern exploration of Welcome Reef, a historic goldfield that produced over 9,000 ounces of gold at 25 g/t Au. Golden Cross is the first company to secure drilling access to this site.

How much drilling has Golden Cross Resources completed at Shepherd's Hill?

Golden Cross has completed over 900 meters of a planned 2,000-meter drilling program across five holes at Shepherd's Hill.

When will Golden Cross Resources (ZCRMF) release drilling results from Shepherd's Hill?

The company expects to release assay results from Shepherd's Hill drilling in Q4 2025.

What is the historical significance of Welcome Reef goldfield?

Welcome Reef's success, particularly through prospector Louis Ah Mouy, helped establish what is now Westpac Bank, one of Australia's largest financial institutions.

How much is Golden Cross Resources spending on marketing with Resource Stock Digest?

The company has engaged Resource Stock Digest for a 3-month marketing program costing USD $200,000.