GOLDEN CROSS RESOURCES LTD — AGM Information 2003

May 20, 2003

GOLDEN CROSS RESOURCES LTD

ABN 65 063 075 178

22 Edgeworth David Ave Hornsby NSW 2077 Phone (02) 9482 8833 Fax (02) 9482 8488

21 May 2003

Dear Shareholder

I wish to invite you to the General Meeting of the Company to be held at SHAW Stockbroking in Sydney on 20 June 2003 at 10.00 am. Enclosed is the notice of meeting and proxy form.

At the meeting a PowerPoint presentation will be given on recent developments, including the Company's latest exploration results, and refreshments will be served.

2003 promises to be a very good year for the Company. It is well placed to benefit from exploration success on its properties, and from three in particular:

• $\uparrow$ Broken Hill, where Gravity Capital Limited and the NSW Government are due to announce on 22 May 2003 the results from the Broken Hill gravity survey flown in the search for another world class orebody. The GCR-Sipa joint venture covers over 45% of the area flown:
• $2.$ Canbelego, where GCR has rights to 50% of any ore mined by Polymetals Pty Ltd within the area of GCR's exploration licence; and
• $3_l$ McPhails, where Alkane Exploration Limited has announced further promising gold intersections from resource definition drilling programmes at Wyoming One prospect, part of which is subject to a rovalty (up to 5% net smelter return) to GCR.

The Company is well funded following the success of the recent Shareholder Share Purchase Scheme which was supported by approximately 30% of shareholders and which raised \$1.3 million.

We look forward to seeing you on 20 June 2003 and would appreciate you taking the time to fax or mail your proxies to the above address.

Yours sincerely,

Christopher Ryan Chairman