GOLDEN CROSS RESOURCES LTD — M&A Activity 2016

Jan 31, 2016

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HQ Mining Resources Holding Pty Ltd

HQ MINING TAKEOVER BID – OFFER PERIOD CLOSED

• HQ Mining Resources Holding Pty Ltd (“ HQ Mining ”) announces that its off-market takeover bid for all the ordinary shares in Golden Cross Resources Ltd (“ Golden Cross ”) that it did not already own (“ Offer ”) closed at 7.00pm (Sydney time) on Friday, 29 January 2016.

• HQ Mining has a relevant interest in Golden Cross of 76.46%. As a result, HQ Mining is not entitled to proceed to compulsory acquisition under section 661A of the Corporations Act 2001 (Cth).

• As announced on 21 January 2016, the Offers remain subject to the condition that no prescribed occurrences occur before Wednesday, 3 February 2016 as set out in section 10.7(c) of HQ Mining’s Bidder’s Statement.

• Subject to HQ Mining declaring the Offers unconditional, HQ Mining expects the consideration for those shareholders that have accepted the Offer to be paid on Friday, 19 February 2016.

Full details of HQ Mining’s Offer are set out in its Bidder’s Statement dated 24 November 2015, available from the announcements posted on the Australian Securities Exchange for Golden Cross at www.asx.com.au.

For further information, please contact:

Christopher Still TC Corporate Phone: 02-9377-1555