IONDRIVE LIMITED — Capital/Financing Update 2014

Nov 20, 2014

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21 November 2014

Australian Securities Exchange Market Announcement Platform 20 Bridge Street SYDNEY NSW 2000

Dear Sir

SHARE PURCHASE PLAN WITH FREE ATTACHING OPTIONS EXTENDED UNTIL 25 NOVEMBER 2014

In response to various requests from Eligible Shareholders, the directors of Southern Gold Limited (ASX: SAU, “Southern Gold” or the “Company”) wish to advise that the closing date for acceptance of applications under the Share Purchase Plan (“SPP”) with free Attaching Options (together the “Offer”) announced on 28 October 2014 has been extended from 8pm (AEDT) Friday, 21 November 2014 to 8pm (AEDT) Tuesday, 25 November 2014.

The extension will provide Eligible Shareholders with ample opportunity to consider the announcement made on 11 November 2014 regarding the Executed Finance and Development Agreement with Metals X and to further contemplate the Offer in the context of this significant announcement.

No action is required to be taken by shareholders who have already made application for shares under the Offer. However, if you are an Eligible Shareholder and have not received the Offer documents or you have already applied but wish to increase your participation, you can do so by promptly telephoning Southern Gold’s share registry on +61 8 9315 2333.

The terms of the Offer, including the SPP price of A$0.009 (0.9c) per share, maximum application value of A$15,000 per shareholder and the one free Attaching Option for every two New Shares applied for exercisable at A$0.015 (1.5c) per share with an expiry date of 30 November 2014, remain as set out in the Offer documents mailed to shareholders on 31 October 2014.

The revised key dates for the Offer are as follows:

Closing Date Tuesday, 25 November 2014 Issue of Shares Tuesday, 2 December 2014 Quotation of New Shares (and Attaching Options if eligible) Wednesday, 3 December 2014 Holding statements expected to be dispatched to shareholders Wednesday, 3 December 2014

Shareholders may contact Southern Gold’s share registry on +61 8 9315 2333 for any queries in relation to the SPP.

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Daniel Hill Company Secretary

Southern Gold Limited ABN 30 107 424 519

Ground Floor, Unit 1 PO Box 255 email info@southerngold.com.au telephone 08 8368 8888 229 Greenhill Road Kent Town web southerngold.com.au facsimile 08 8431 5619 Dulwich SA 5065 SA 5071