GOLDEN CROSS RESOURCES LTD — Regulatory Filings 2003

Mar 17, 2003

GOLDEN CROSS RESOURCES LTD

ARN 65 063 075 178

ASX ANNOUNCEMENT

18 March 2003

Exploration Update

Broken Hill Joint Ventures

Gravity Capital Limited (GCap) has completed its airborne gravity survey to search for world class orebodies under cover. Results are due to be available by 31 March 2003. GCap (or BHP Billiton) may earn a 51% interest in the GCR-Sipa JV ground by completing a bankable feasibility study on nominated target areas by 31 January 2007.

Existing GCR-Sipa platinum-palladium prospects have been quarantined from any back-in right by Gcap or BHP. Sipa has commenced this year's field season, which is planned to be very active, including surface geological, geochemical, geophysical and drilling programmes.

Cargo Joint Venture

Falcon Minerals released an ASX announcement on 11 March 2003 stating that "ten targets for Cadia/Ridgeway styles of mineralisation will be tested" by RC and diamond drilling.

Drilling has commenced on a northern anomaly after which the drill will move to "three highly prospective targets that lie beneath the Spur Dalcoath gold deposit". "Drill results will be released as they come to hand."

West Wyalong Joint Venture

MIM has completed its proprietary MIMDAS IP survey and five RC drill holes targeting gold or goldcopper porphyry style mineralisation similar to that previously intersected by Newcrest. Results are awaited.

Yellow Mountain Joint Venture

Triako Resources has commenced drilling 42 holes to follow-up on encouraging gold results obtained previously on three separate prospects - Claytons Dam, Quarry Hill and the large Melrose magnetic anomaly.

McPhails

Alkane Exploration recently announced a large drilling programme (15,000m) at Wyoming One The Wyoming One mineralisation plunges into EL 5830, in which GCR holds a prospect. graduated royalty of up to 5% nsr. The drilling programme will follow up on the recentlyannounced intersection of 76m averaging 8.68 g/t gold. The hole is located approximately 100m north of EL 5830 and the mineralisation is plunging towards EL 5830.

GCR owns the area of the previous mining lease at McPhails where 65,000 ounces of gold was mined. McPhails lies approximately 500m along strike from the Wyoming One prospect.

Consideration is being given to an exploration programme within this area.

Enquiries/requests to receive announcements by email: David Timms

Ph (02) 9482 8833, email address: david.timms@goldencross.com.au

This report was prepared by David Timms, full time employee of Golden Cross Resources Ltd, who is a Fellow of the AIG and AusIMM and has more than five years experience in the field of activity in which he is reporting.