Golden Cross Reports Results up to 27g/t Au from Maiden Drilling at Aurora and Provides Exploration Update

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2026) – Golden Cross Resources (TSXV: AUX) (OTCQB: ZCRMF) (FSE: ZMLO) (“Golden Cross” or the “Company”) is pleased to provide updates to its ongoing exploration at the Reedy Creek Project, Victoria, Australia.

Recent drilling at Reedy Creek and Welcome Reef has confirmed strong and consistent gold mineralisation, while validating key elements of the Company’s structural model, marking a significant step forward in unlocking the scale and continuity of the broader system.

Highlights

• Shallow drilling at the Aurora Prospect has returned high-grade gold intercepts, including 0.4m @ 27.0 g/t Au from 80.07m in AUD003 and 0.3m @ 5.35 g/t Au from 84.5m in AUD004, highlighting the presence of high-grade shoots near surface within the broader mineralised system.

• Maiden drilling at Aurora continues to validate and strengthen the Company’s structural model, highlighting a well-developed shear-hosted system with significant potential for scale and continuity.

• First-pass drilling at Welcome Reef confirms mineralisation extends beyond the core corridor, unlocking substantial exploration upside across parallel structures and untested zones.

• Positive intercepts across Aurora, Welcome Reef and Empress Reef support the Company’s structural modelling, demonstrate repeatability, and confirm the extension of mineralisation across the system, unlocking substantial exploration upside across the project area.

• Upcoming drilling will test deeper extensions below historic workings at Aurora, targeting the higher-grade core of the system where stronger mineralisation is anticipated.

• Integration of IP, magnetics and 3D LiDAR is accelerating targeting, positioning the Company to efficiently unlock value across the broader project base.

At the Aurora Prospect, shallow drilling has returned high-grade gold intercepts, including 0.4m @ 27.0 g/t Au from 80.07m in AUD003 and 0.3m @ 5.35 g/t Au from 84.5m in AUD004, highlighting the presence of high-grade shoots within the broader mineralised system.

“These results mark a significant step forward in unlocking the potential of our gold system. The confirmation of our structural model, coupled with the high-grade shallow intercepts at Aurora, gives us increasing confidence in both the scale and continuity of mineralisation across the project. Importantly, we are now seeing consistent geological signatures across multiple targets, which supports our view that this is a district-scale opportunity. As we integrate geophysics and advance drilling to test deeper, ‘Fosterville-style’ targets, we believe we are well positioned to deliver value through discovery,” said Golden Cross CEO Matthew Roma.

The maiden drilling program at Welcome Reef also returned notable intercepts, including 2.7m @ 1.19 g/t Au from 378m containing a higher grade 0.7m @ 3.65 g/t Au in WMD002.

Additional significant intercepts include:

• AUD002: 7m @ 1.24 g/t Au from 69m

  • Including 1m @ 5.82 g/t Au from 73m (drillhole terminated in abandoned stope)

• AUD003: 0.4m @ 27.0 g/t Au from 80.07m

• AUD004: 0.3m @ 5.35 g/t Au from 84.5m

• ERD001 (Empress Reef): 0.6m @ 2.75 g/t Au from 116.8m

• WMD002 (Welcome Reef):

  • 0.8m @ 0.88 g/t Au from 320m (including 0.4m @ 1.205 g/t Au)

  • 2.7m @ 1.19 g/t Au from 378m (including 0.7m @ 3.65 g/t Au)

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Drilling at Aurora intersected multiple gold-bearing tension veins, which propagate out from a Primary Shear running parallel to the Reedy Creek anticline, consistent with the company’s structural model. Structural Modelling suggests fluid flow within the shear and potential dilation within shear margins and surrounding tension veins. Significant intercepts at Aurora include 0.4m @ 27.0 g/t Au from 80.07m in AUD003 and 0.3m @ 5.35 g/t Au from 84.5m in AUD004, highlighting the presence of high-grade shoots within the broader mineralised system. Notably, mineralised veins are surrounded by strong arsenic halos, further reinforcing correlations with previous drilling.

Drilling at Empress Reef yielded 0.6m @ 2.75 g/t Au from 116.8m in ERD001, also intersecting visible stibnite alongside gold mineralisation. This observation aligns with the anticipated arsenic-antimony (As-Sb) zonation within the system, further supporting the exploration model. Empress Reef is the southeasternmost portion of the Reedy Creek Goldfield to be drilled to date and has provided valuable insight into the zonation and structure of mineralisation within Reedy Creek.

Maiden drilling at Welcome Reef also returned notable intercepts, including 2.7m @ 1.19 g/t Au from 378m containing a higher grade 0.7m @ 3.65 g/t Au in WMD002. Welcome Reef is the first prospect outside of the Reedy Creek corridor drilled by Golden Cross. Mineralisation here confirms that mineralising processes extend across multiple anticlinal trends across the project. Geological logging indicates consistent structural, lithological, and geochemical characteristics across these zones, suggesting broader exploration potential.

A pilot geophysical survey is underway at Aurora to test whether magnetic and/or induced-polarization (IP) data can effectively refine our structural targeting. IP & Mag surveys were chosen for their potential to highlight disseminated sulfides around the gold-bearing veins (IP), as well as the structure of the folded sandstone beds (Mag). The ability to apply geophysical controls to structural interpretation would significantly assist drill targeting and could be used to fast-track regional targeting project-wide.

Recent LiDAR scanning of historic underground workings is further clarifying vein geometry at Aurora. These 3D scans also greatly assist the ongoing geophysical, and structural modelling of mineralisation in the area.

Drilling will resume in late April, on completion of the pilot geophysics program. Guided by the updated ‘Fosterville-Style’ mineralisation model at Aurora, the program will target shear and tension vein sets at deeper depths. Essentially testing the ‘hotter’ part of the system in untouched ground below the limit of historic excavation from artisanal mining.

Table 1: Drill Collar Data

Table 2: Notable drill intercepts

Figure 2: Golden Cross’ Reedy Creek Project is a high-grade gold opportunity located just 10 km northeast of the Sunday Creek discovery, one of Australia’s most talked-about exploration successes. 

To view an enhanced version of this graphic, please visit:
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QA/QC and Analytical Procedures

All samples reported from the current drilling program were processed under the Company’s QA/QC protocol. Samples were prepared and assayed by ALS Laboratories using industry-standard methods. The Company’s QA/QC program includes insertion of certified reference materials, blanks and field duplicates at regular intervals. Assay data is validated and reviewed for quality as part of routine data verification. In addition, the company re-submits any sample reporting over 2g/t Au for analysis via Screen Fire Assay. Screen Fire Assays separate and measure both coarse and fine gold fractions, improving accuracy and reproducibility of nuggety samples and providing a clearer estimate of total gold content.

Qualified Person

All scientific and technical information in this news release has been prepared or reviewed and approved by Alan Till, the Company’s Vice President Exploration, a “qualified person” as defined by NI 43-101.

About Golden Cross Resources

Golden Cross Resources (TSXV: AUX) (OTCQB: ZCRMF) is a Canadian mineral exploration company focused on advancing the 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.

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. 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.

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