Non Renounceable 1 for 1 Rights Issue to Shareholders

Golden Cross Resources Ltd (ASX: GCR) is pleased to announce a non-renounceable 1 for 1 rights issue of fully paid ordinary shares in the capital of the Company. The offer is not underwritten.

As at the record date of Wednesday 30 October 2013, the Company will offer Shareholders one share at 0.5 cent per share. Compared to the weighted average price of the Company’s shares on the ASX in the five trading days up to and including Friday 18 October 2013, of 0.600 cent (rounded to three decimal places), the offer price represents a discount of approximately 16.7%. Compared to the closing price of the Company’s shares on the ASX on Friday 18 October 2013 also of 0.6 cent, the offer price of 0.5 cent per share again represents a discount of approximately 16.7%.

Details of the Offer are contained in the offer document to be issued tomorrow. The offer document and personalised acceptance forms will be mailed to eligible shareholders on Thursday 31 October 2013. The closing date for the offer will be Friday 15 November 2013.

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. Shares issued under the rights issue will rank equally with existing shares. The Company will apply for official quotation on ASX of the new shares.

The maximum amount raised by the Offer would be $6.8 million if every Shareholder exercised its Rights to purchase New Shares, before expenses. 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 Company’s major shareholder has not yet determined and advised the Company whether it will exercise its rights under the issue. The Company will inform the ASX immediately upon the major shareholder advising its intention.

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.

For further information contact me, Kim Stanton-Cook (kim@goldencross.com.au), or Simon Lennon (simon@goldencross.com.au) on 02 9472 3500.

Yours faithfully, Kim Stanton-Cook, Managing Director

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