Letter to Shareholders

Notice to Eligible Shareholders
Non Renounceable 1 for 1 Rights Issue

Golden Cross Resources Ltd (ASX: GCR) announced to the ASX on 21 October 2013 a non renounceable entitlement Offer of one fully paid New Share for every one Share held by Eligible Shareholders at the Record Date of Wednesday 30 October 2013 at a price of 0.5 cent for each New Share. The Offer will also allow Eligible Shareholders to acquire Additional Shares in the Company at 0.5 cent for each Additional Share. The Offer price represents a discount of 16.7% to the weighted average price of the Company’s shares on the ASX in the five trading days up to and including 18 October 2013.

Details of the terms and conditions of the Offer of New Shares will be contained in the Offer Document that will be sent to Eligible Shareholders on Thursday 31 October 2013. A personalised bar-coded Entitlements and Acceptance Form will accompany the Offer Document. In the meantime, a copy of the Offer Document can be viewed at www.asx.com.au or www.goldencross.com.au. The Directors of the Company recommend that you read the Offer Document carefully.

Golden Cross currently has 1,361,900,851 shares on issue. The maximum number of securities that may be issued under the rights issue is 1,361,900,851 shares. The maximum amount raised by the Offer would be $6.8 million, before expenses, if every Shareholder exercised its Rights to purchase New Shares. The Offer is not underwritten and thus Directors are not able at this time to state the amount of funds the Offer will raise.

The purpose of the Offer is to raise funds for exploration and development. The funds raised will be used for further copper-gold exploration of the Company’s tenements at Copper Hill, near Molong (New South Wales), IOCG exploration on the Company’s most prospective tenements in the Gawler Craton (South Australia), copper exploration at Burra (New South Wales) and gold exploration at Cargo (New South Wales). The exploration will principally be drilling. The development work at Copper Hill will initially focus on environmental and other permit applications pending further metallurgical analysis.

The New Shares and Additional Shares issued under the Offer will rank equally with then existing Shares. The Company has applied for official quotation on ASX of those shares.

The Offer will be extended only to shareholders with registered addresses in Australia and New Zealand.

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