IONDRIVE LIMITED — Capital/Financing Update 2019

Feb 25, 2019

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26 February 2019

The Manager Company Announcements Office ASX Limited

NOTICE UNDER SECTION 708A

This notice is given by Southern Gold Limited (“SAU” or the “Company”) (ASX: SAU), under section 708A of the Corporations Act 2001 (Cth) (the Act).

The Company gives notice that, on 22 February 2019, it issued 6,666,666 fully paid ordinary shares in the Company and 4,411,765 unlisted options (refer ASX announcement 21 February 2019 and Appendix 3B on 22 February 2019), without disclosure to investors under Part 6D.2 of the Act.

This notice is given under section 708A(5)(e) of the Act and accordingly as at the date of this notice:

1. the Company has complied with:

   • (a) the provisions of Chapter 2M of the Act as they apply to the Company;

   • (b) section 674 of the Act;

2. there is no information which is "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed by the Company under section 708A(6)(e) of the Act.

…………………………..

Dan Hill

Company Secretary

Southern Gold Limited ABN 30 107 424 519

10 George Street PO Box 255 Stepney Kent Town SA 5069 SA 5071

PO Box 255

email info@southerngold.com.au web southerngold.com.au

telephone 08 8368 8888 facsimile 08 8431 5619