Southern Cross Goldfields - ASX:SXG

Highlights – Quarterly Report to December 2009

• SXG’s strategy of fast-tracking early production options continued to be the priority during the Dec quarter

• Progress at Dulcie continues apace. Metallurgical testwork is currently underway. Results are expected in February/March and should determine the best process route for the Dulcie Gold Laterite project

• Battler is considered to be the second near term production option for SXG, with recent drilling delivering high grade results for the “Battler Splay” lode. Potential for a significant underground target can now be seen below the oxide resource

• Drilling beneath the lateritic gold mineralisation at Dulcie aimed at defining oxide and primary gold mineralisation was undertaken during the quarter with significant mineralisation returned from three separate zones

• A review of data over the northern part of Bullfinch North has highlighted several high priority gold and nickel sulphide targets

• An oversubscribed rights issue was completed during the quarter, raising $2.4M before costs

• Cash position is $3.4M at the end of the quarter

• An agreement to sell Cliffs Natural Resources Pty Ltd (Cliffs) title to six exploration licences in the Marda district for $0.75M was reached in Nov 2009.

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