GOLDEN CROSS RESOURCES LTD — Capital/Financing Update 2012

Aug 27, 2012

GOLDEN CROSS RESOURCES LTD ABN 65 063 075 178

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ASX Release 28 August 2012

GCR launches a major HELITEM[®] survey near Gilgunnia, in the south eastern Cobar Basin.

Golden Cross Re s ources Lt d (ASX co d e: GCR) h as retain e d Fugro A i rborne Su r veys to complete a 300-li n e kilometr e helicopte r -borne Time Domain E lectromag n etic and M agnetic Survey over selec t ed areas w ithin its Ra s t Group o f tenement s near Gilg u nnia, centr a l NSW.

Airborne EM has worked w e ll for GC R elsewher e in the re g ion with t h e definitio n of the recentl y reported d rill target b eneath G C R’s Burra C opper Mi n e working s , to the no r th, near Canbel e go. The t e chnique h a s also wo r ked well for other explorers in th e region with credit being g iven to airborne E M , notably f or the re c ent Malle e Bull bas e metal di s covery.

Annou n cements r egarding o ther near b y deposits such as Hera, the newly dis c overed extensi o ns to the Nymagee Copper Mine, new mineralised z ones at M ineral Hill and the plans t o re-open the Mount B oppy Gol d mine hav e generate d consider a ble intere s t in this region. GCR has a dominant land position here i n its own right and w i th its joint venture partner, Minmetal s Resourc e s Limited ( MMG) in t h e Gilgunnia Range j o int ventur e . Fugro will al s o be flyin g HELITE M for MM G over the Gilgunnia Range jo i nt ventur e areas.

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----- Start of picture text ----- Fug r o’s HELITEMsystem in flight >Sur v ey flight linesBurra shown belowPeel Mining’s Mallee BullFor more inf o rmation pleas e contact:Golden Cross ResourcesKim Stanton - Cook, Managi n g DirectorBret Ferris, E xploration Ma n agerPhone (02) 9 472 3500Fax (02) 94 8 2 8488Or visit our w ebsitewww.golden c ross.com.au----- End of picture text -----