GOLDEN CROSS RESOURCES LTD

HIGHLIGH

• Compl• Farm-i• Farm-i• At the

porphytoward

• Encouproper

• Resultproper

EXPLORA

1. AdeloOn 22 FebrOrchid CapLimited for 6the Adelongagreementsequipment.The feasibilicompleted dThe Adelongkm exploratirecorded prototal historicat today’s prGCR intendOld Hill reef.GCR aims tsuite of prosA drilling prhole, for a toof the Comp

GOLDEN CROSS RESOURCES LTDABN 65 063 075 178

QUARTERLY REPORT TO 31 MARCH 2002

30 April 2002TS

eted purchase of Adelong Gold Mine.n Agreement with MIM over Copper Hill property.n Agreement with Triako Resources over Yellow Mountain property. McPhails property, Alkane Exploration announced that the mineralisedry appears to be widening with depth and extending to the south east,s the old McPhail’s mine, wholly-owned by GCR, about 500m away.raging results from drilling and rock chip sampling at Canbelegoty.s awaited from RC and diamond drilling of Donkey Hill reef at Adelongty.

TION RESULTS

ng (near Tumut, NSW, 280 sq km, GCR purchasing 100%, gold)

uary 2002 GCR completed the acquisition of the Adelong Gold project fromital Limited through the purchase of Orchid’s subsidiary Challenger Gold million GCR shares and $50,000. GCR now owns all the assets comprising Gold project including the mining lease, exploration licence, native title

, security bonds, freehold land, buildings, and mining and processing

ty study on the Adelong Gold project by Resource Management Group wasuring the Quarter and forms the basis for seeking finance for the project. gold field comprises over 60 sub-parallel gold-bearing reefs within a 280 sq

on licence (Figure 1). It was one of the largest gold fields in NSW, with totalduction between 1857 and 1941 of 800,600 ounces of gold. Estimates of

al production range up to 1.4 million ounces with a value of over $700 millionices.s to mine the Challenger and Challenger Extended zones which lie along the Further ore potential remains in all reefs, particularly at depth (Figure 2).o derive a cash flow from the Adelong Gold project, for use in exploring itspective exploration properties in NSW.ogramme consisting of four RC holes and one diamond “tail” on an old RCtal of 407m, has recently been completed at the Donkey Hill reef, 1.5 km northany’s Mining Lease. Results are awaited.

GCR Quarterly Report March 2002

2

2. Kempfield (near Blayney, NSW, 250 sq km, GCR 100%, silver, barite, gold and base metals)

The Kempfield property hosts significant silver-lead-zinc-barite resources along a 3 km strikelength in Silurian Volcanics. Metallurgical testwork on sulphide-bearing drill samples from theMcCarron Zone is planned.

3. Copper Hill (near Molong NSW, 75 sq km, 100% GCR, gold-copper-palladium)

On 28 February 2002 GCR announced it had entered into a farm-in agreement with MIMExploration Pty Ltd whereby MIM could spend $4.5 million over four years to earn a 70% interest inCopper Hill. MIM has paid GCR $25,000 and agreed to spend $200,000 during the first year ofexploration.MIM intends to explore the Copper Hill property, consisting of ELs 2290 and 5722, through:

• Use of its newly developed MIMDAS geophysical system to locate priority drilling targets(survey is underway); and

• Early and aggressive drilling to test for potential orebodies.

Copper Hill, the site of the first copper mine in NSW, contains a porphyry gold-copper systemextending for over 5 km. Inferred resources, down to 150m below surface at a 0.5 g/t gold cut-off,are 6.6 Mt at 0.8 g/t gold and 0.8% copper, for 340,000 ounces of gold equivalent (Figure 3).A pole-dipole induced polarisation (IP) survey with 3D inversion modeling revealed a zone ofhigher chargeability coincident with anomalous copper soil geochemistry, to the east of the mainzone, which warrants drill testing (see Figure 4).The following table sets out previous significant broad intersections of encouraging grades of goldand copper.

Copper Hill Project – Significant Gold-Copper Assays

Hole No. East(m)

North(m)

Direction(degrees)

From(m)

Intersection(m)

Gold(g/t)

Copper(%)

CHP - 9 674687 6340855 260 Surface 26 2.27 0.62and 40 10 1.02 0.61

CHRC - 1 674237 6341216 267 Surface 74 1.91 0.78CHRC - 6 674682 6340833 352 Surface 46 1.88 0.51CHRC - 11 674903 6341214 298 Surface 46 1.15 0.85CHRC - 13 674139 6341214 87 Surface 80 1.04 0.40CHRC - 14 674269 6341164 90 8 67 1.43 0.83CHRC - 32 674269 6341201 0 Surface 62 1.49 0.69CHRC - 41 674678 6340872 172 30 20 2.26 0.86CHRC - 58 674304 6341100 0 32 217 1.67 0.72

and 258 26 0.66 0.49CH - 89 - 1 674252 6341216 267 1 79 1.91 0.72NCR 019 674763 NCH 007 674309 129 157 0.78 0.40

Incl 145 26 1.25 0.65NCR 028 675572 6339589 230 28 1 11.67 0NCR 029 675799 6339767 230 288 2 26.37 0.15NCR 30 675665 6339726 230 12 2 9.13 0

4. McPhails (near Peak Hill, NSW, 10 sq km, gold. GCR holds area of old mining lease and a sliding-scale royalty on the remainder of the exploration licence. Subject to 10% free carried interestto Metallic Resources Pty Ltd).

On 1 March 2002 Alkane Exploration Ltd announced to ASX an intersection of 5m at 1.34 g/t goldon GCR’s McPhails property at Tomingley, near Peak Hill, NSW. The intersection confirms acontinuation of a gold-mineralised zone onto GCR’s property. It is possible that the mineralised


3

zone, containing intersections of up to 68m at 2.46 g/t gold, extends to the McPhails gold mine onthe property (see Figure 5).Alkane reported that Hole 173, drilled on GCR’s property, clipped the top of porphyrymineralisation. The porphyry appears to widen with depth, dip steeply to the east and plunge tothe south, into GCR ground. Mineralisation remains open at depth and to the south.In the section on the McPhails property in its March Quarterly Report, Alkane Exploration wrote:

“The mineralised zone is covered by 30 to 40 metres of unmineralised clay but the porphyryappears to be widening with depth and extending to the south east, towards the McPhail’smine, about 500 metres away. There has been very little drill testing of this extension.”

Alkane Exploration Ltd has earned a 100% interest in the farm-in area of the exploration licence.The farm-in area excludes the area containing the old McPhails mine workings and reprocessedtailings, which is retained by GCR.On the farm-in area GCR will retain a royalty of:

• $0.75/tonne for the first 500,000 tonnes of ore treated;

• 3% net smelter return on additional ounces of gold produced up to 150,000 ounces; and

• 5% net smelter return on additional ounces of gold produced in excess of 150,000 ounces.McPhails has potential to host an oxide gold deposit and is only 14 km along the Newell Highwayfrom Alkane’s Peak Hill plant. Further drilling is planned by Alkane.

5. Pipeline/Canbelego (near Cobar, NSW, 280 sq km, GCR 100%, gold and base metals; 60 sq km around Mt Boppy subject to 5% net profits interest (NPI) to Nosebi Mining andManagement Pty Ltd; 60 sq km south of Mt Boppy subject to 5% NPI to Polymetals Pty Ltd; 3 sq km NW of Pipeline prospect subject to 10% free carried interest to Metallic Resources Pty Ltd)

GCR recently completed a programme of RAB drilling (101 holes for 1,450m), mechanical augerdrilling and rock chip sampling at Canbelego. Encouraging results were returned from the SouthMt Boppy and Birthday prospects (Figure 6).At South Mt Boppy, colloform banded epithermal quartz veins outcrop in old pits and shafts. Veinsexposed in the top of the No. 2 Shaft returned 16.4 g/t gold over 0.3m and 27.6 g/t gold in grabsamples. Rock chip sampling of a stockwork zone adjacent to the veins returned 6.6 g/t gold over1m. Nine grab samples of colloform banded, fine-grained quartz veins were collected from a lineof rubbly subcrop over a strike distance of 50m. These returned an average of 4.8 g/t gold, withthe highest being 11.6 g/t gold and the lowest 1.65 g/t gold. Mullock from the old Neshems Shaftreturned up to 53.0 g/t gold. RAB and auger geochemistry indicates that the South Mt Boppyprospect is located in a north-trending corridor of silicification and gold mineralisation at least 200mlong and up to 80m wide.At the Birthday prospect previous shallow drilling around the old workings outlined a zone of gold-lead-zinc-antimony mineralisation. Recent RAB drilling along strike extended the length of thisnorth-trending zone to over 500m.The northernmost hole, RAB 167, returned 22m of 0.13 g/t gold, 0.18% lead, 0.09% zinc and 193ppm antimony from surface. The southernmost hole, RAB 183, returned 4m at 0.95 g/t gold to theend of the hole. This zone of geochemical anomalism is up to 80m wide and characterised byzones of silica-sericite alteration and ironstones. No fresh rock has been encountered in drilling todate.Both South Mt Boppy and Birthday represent excellent gold exploration targets. Further targetdefinition using induced polarisation geophysical surveys and RAB drilling is envisaged in theSeptember quarter, to be followed by deeper RC drilling of best targets.The old Mt Boppy Gold Mine, immediately to the west and northwest of these prospects produced1 million tonnes of ore at an average grade of 12 g/t gold. The present owners of the miningleases over the old mine have recently re-commissioned the plant and commenced open pit miningoperations.


4

6. Broken Hill (NSW, 420 sq km, GCR 100%, platinum group metals, gold and base metals)

During the quarter GCR drilled three RC holes for 179m at the Mulga Springs platinum prospect, tofollow up the high-grade sulphide intersection of 2m at 10.91 g/t platinum and 22.63 g/t palladiumreported to ASX in July 2001. Best results are set out in the table below.

Mulga Springs Prospect, Broken Hill – Best Results from March Quarter RC Drilling

Hole No. From(m)

Intercept(m)

Pt(g/)t

Pd(g/t)

Au(g/t)

Cu(%)

Ni(%)

GMS-34 18 3 2.07 2.92 0.29 0.87 0.34GMS-35 23 3 0.41 0.76 0.07 0.21 0.17

The above intersections represent partly oxidised and fresh sulphides associated with ultramaficrocks.The ultramafic unit extends discontinuously for 9 km on the property and has potential to hostmassive and disseminated sulphides containing platinum group metals.Maps showing mineralisation on GCR’s Broken Hill properties are available atwww.reflections.com.au/goldencross.

7. Yellow Mountain (north of Condobolin, NSW, 310 sq km, 100% GCR. Gold, silver and basemetals)

On 18 April 2002 GCR announced that agreement had been reached for Triako Resources Limited(Triako) to farm-in to GCR’s 100%-owned Yellow Mountain copper-gold porphyry property on theGilmore Suture north of Condobolin, NSW. The 310 sq km property consists of ELs 5721 and5787 and lies about 20 km west of Triako’s Mineral Hill mine (Figure 7).Triako may earn a 51% interest in the property by spending $750,000 on exploration by October2004, and a 70% interest by spending a total of $1.3 million on exploration by October 2005.Triako will reimburse GCR for past exploration expenditure, which is counted towards the aboveearn-in requirements, as follows: $10,000 on signing an agreement, $10,000 three months aftersigning and $30,000 twelve months after signing provided Triako has not withdrawn from theagreement. Triako must spend $100,000 on exploration prior to withdrawing from the agreementand will manage exploration on the property.If GCR’s interest dilutes below a 10% interest, it will automatically convert to a 10% free-carriedinterest, to completion of a positive feasibility study, at which stage it may elect to take a 4% netsmelter return royalty.The proceeds from any ore from Yellow Mountain treated at Triako’s Mineral Hill plant will beshared according to the parties’ joint venture interests, subject to reimbursement to Triako of itscosts in treating GCR’s share of the ore.The Yellow Mountain property contains several old mines and prospects. It also hosts a regionallysignificant magnetic anomaly known as the Melrose anomaly, which extends for 10 km, is overlainby about 50m of alluvium and to date has had no systematic exploration.Lying within the property, the Yellow Mountain prospect contains two zones situated 500m apart,the Open Cut zone and the Main zone. The Open Cut zone contains trenching with best reportedrock chip sampling of 6m at 4.4 g/t gold, 18m at 29 g/t silver and 4m at 4.5 g/t gold. The best drillintersection by previous explorers was 111m at 0.4% copper, 1.0% lead, 1.6% zinc and 25 g/tsilver. This intersection, as with most of the intersections on Yellow Mountain, was not assayed forgold.The Quarry Hill prospect contains a strong gold-arsenic soil anomaly 600m in diameter. Wide-spaced regional soil samples indicate that this anomaly extends to the northwest for 6 km.

http://www.reflections.com.au/goldencross


5

8. Wagga Tank (near Cobar, NSW, 320 sq km, GCR 100%, gold and base metals. Pasminco (manager)may spend $2.5M by 1.1.2005 to earn 70%)

Wagga Tank prospect contains an inferred resource of 1.25 million tonnes at 0.66 g/t gold, 68.8 g/tsilver, 0.81% copper, 1.76% lead and 3.3% zinc. The property contains several other establishedprospects with potentially economic mineral intersections, including Fenceline, BMW, Siegals, BlueMountain and Mt Allen.Pasminco was encouraged by the results from its drilling at the Siegals Prospect during theDecember 2001 Quarter. Two follow-up holes were drilled during the March 2002 Quarter for atotal of 162m. These holes did not intersect significant mineralisation.Further drilling by Pasminco at the BMW Prospect will target base-metal and gold anomaliesidentified in previous exploration. This work is scheduled for May 2002.

9. West Wyalong (NSW, 230 sq km, GCR 100%, subject to 2.5% net smelter return to Lac, gold andcopper)

Porphyry copper-gold style mineralisation exists within the eastern portion of the tenement atYiddah North and Narragudgil. The best intersection returned 191m of highly anomalous porphyrystyle mineralisation including 13m at 0.57% copper and 0.40 g/t gold.

10. Cargo (NSW, 470 sq km, GCR 100% subject to 0.5% net profits interest to B&E Enterprises Pty Ltd. Copper and gold)

Cargo is a large gold-copper mineralised porphyry system approximately 3 km by 2 km in size withpotential to host a Ridgeway-style gold-copper deposit. The system hosts 14 gold reefs mined inthe early 1900s. The Spur-Dalcoath zone contains an inferred resource of 3.7 Mt at 1.24 g/t goldfor 147,000 ounces.

11. Breadalbane (near Goulburn, NSW, 150 sq km, GCR 100%, gold and base metals)

The Breadalbane property has potential to host base and precious metals deposits in skarn,porphyry and volcanogenic massive sulphide (VMS) settings (Figure 8). Two drill holes, over 60mapart, intersected 148m assaying 1.0 g/t gold, including 14.6m at 5.1 g/t gold, and 142m assaying0.9 g/t gold, including 12m at 4.4 g/t gold.

Other PropertiesSee www.reflections.com.au/goldencross or contact GCR for a hard copy of its 2001 Annual Report.

DAVID TIMMS, MANAGING DIRECTOR

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

http://www.reflections.com.au/goldencross


6

GCR AT A GLANCEDirectorsLex Hansen ChairmanDavid Timms Managing DirectorKerry McHugh DirectorDaven Timms Executive Director &

Company Secretary

Registered and Principal Office22 Edgeworth David AvenueHornsby NSW 2077 AustraliaPh (02) 9482 8833Fax (02) 9482 8488Email [email protected] site www.reflections.com.au/goldencross

Number of ShareholdersAt 9 April 2002 GCR had 1,036 shareholders.

Major ShareholdersThe share register records the following asmajor shareholders (greater than 2%) at 9April 2002:

%1. David Timms 13.712. Metallic Resources Pty Ltd 5.453. Orchid Capital Limited 5.054. Aurcay Holdings Inc 3.795. Edward O'Connor-Smith 2.976. AMP Life Limited 2.867. Cyprus Amax Australia 2.848. Guardian Trust Australia Ltd 2.749. Hysetee Pty Ltd 2.3210. Cleo Holdings Pty Ltd 2.2611. Ledge Finance Ltd 2.11

This Quarterly was sent by E-mailIf you haven’t already done so, write downyour e-mail address & fax to (02) 9482 8488or email to [email protected]

Name ……………………………………....

Company …………………….…………...

E-mail address ……………………………

Shareholder EnquiriesMatters relating to shares held and change ofaddress should be directed to the shareregistry:

Registries LimitedLevel 2, 28 Margaret Street

Sydney NSW 2000Ph: (02) 9279 0677

Issued CapitalAt 30 April 2002 GCR’s issued capital was95,016,610 ordinary shares, 41,140,000options exercisable at 20 cents by31.12.2002, 580,000 employee optionsexercisable at 30 cents by 22.8.2002,2,220,000 employee options exercisable at10 cents by 21.12.2006 and 4.2 millionDirectors’ options exercisable at 15 cents by30.11.2006.

ASX Listing CodeThe Company’s ASX listing code is GCR.

Cash FlowMarch 2002 Quarter $Balance at 31 December 598,000Exploration expenditure -295,000Interest and payments received 68,000Placement on 27 March 285,000Closing Balance at 31 March 656,000

Web SitePlease visit GCR’s web site featuring thelatest on GCR, which you are welcome tocopy:

www.reflections.com.au/goldencross

General EnquiriesContact David Timms or Daven Timms at theprincipal office: ph. (02) 9482 8833

0

Nth Wi

Shaft Name

William

Flagst

Anne

Grea

10675 o@ 49 g/

Recorded Gold Prod@ Recovered Grade

25498 o@ 162 g

2894 oz@ 64 g

1961 o@ 134

3264 o@ 61

2000

HISTORI

MAJOR

GOLD B

VictoriaReef

GOLDEN CROSS

ADELONG PROGCR 29-4-2002

0E

14

80

3'

35 19'

ADELONGTownship

To

Wag

ga

Wag

ga

ToTum

ut

ML 1435

EL

5728

Gold Bearing Reefs

LEGEND

Challenger Lode

Mo u n t a i n s

H i g h w ya

S n o w y

Paleys

Donkey Hill

Caledonian

Gibraltar

Blue, The Dyke and Candos

Currajong

Victoria

New Chum

Lady Mary

Gap

Camp Reef

Fletchers

1 2 Km

Challenger

lliams

Challenger Ext

s

aff

tts

t Victoria

Prowse &Woodward

36913 oz Au@ 229 g/t Au

z Aut Au

4116 oz Au@ 135 g/t Au

uction

9968 oz Au@ 153 g/t Au

z Au/t Au

Au/t Au

z Aug/t Au

z Aug/t Au

8778 oz Au@ 239 g/t Au

Adelong United

Our Own3119 oz Au@ 122 g/t Au

m

CAL RECORD OF

WITHINGOLD LODES

EARING REEFS

ChallengerMine

ChallengerMine

Old HillReef

Old HillReef

60000

600000N

Tumut

AdelongML

1435

Map Area

608000N

Adelong

10 km0

EL 5728Old Gold workings

RESOURCES LTD

FIGURE 1JECT- Location

GCR

*PR

OW

SE+W

OODW

ARD

SHAF

TCH

ALLE

NGE

R

OUR

OW

NSH

AFT

CHAL

LENGE

R

EXTE

NDE

D

MID

DLE

OR.

OLD

REEF

SHAF

T

NORT

HCH

ALLE

NGE

R

Footwa

ll

Open at depth

Drill hole piercement point

Areas Scheduledfor Mining

Open

Surface Reef

Mundic Reef

Surface Leaders

White Reef

Lode

Reef CasingSlate or

HISTORICAL SECTION

AREA OF POTENTIALMINERALISATION

NOT DRILLED

*PR

OW

SE+W

OODW

ARD

SHAF

T

100 m0 Challenger ZoneLongitudinal Section

GRC 19

GRC 20

GRC 21

GRC 22

GRC 23

Recent Drilling

25m @ 2.81 g/t Au

15m @ 2.20 g/t Au

25m @ 2.35 g/t Au

19m @ 3.66 g/t Au

27m @ 6.52 g/t Au

South North

102020

50

2020

10

10

5030

3050

2010

20

Current workingswith Decline access

Challenger

Challenger Extended

old workings

1400mRL

GSD 001

GRC 21

GRC 20

GRC 23

GRC 19

50 30 20 10

Gold ContoursGrams x metres (true width)

GRC 18

GRC 17

Drill hole piercement

Recent drilling

GOLDEN CROSS RESOURCES LTD

FIGURE 2ADELONG PROJECT - SectionsGCR 29-4-2002

GCR

[]

*Note position of Prowse + Woodward Shaft in both SectionsSee Figure 1 for plan locations of shafts along Old Hill Reef

100 m0

Areas Scheduledfor Mining

1m @ 8.2 g/t Auand 2.7m @ 17.4 g/t Au

3m @10.9 g/t Au

GRC 22

PorphyryCu-Au Systems

Newcrest

10 Km

Cadia

RidgewayCargo

GCR 100%

Copper Hill

GCR Projects

Vale Head

Little Copper Hill

Copper Hill

GCR

Buckleys North

Buckleys

Boomerang

Wattle Hill

Prospect

Legend

Drill holes

Strong to intense quartz-sericite+/-pyrite 'Phyllic' alteration

Alteration

Strong epidote 'Propylitic' alteration

NCR 13: 80m @ 0.42 g/t Au, 0.50% Cu

NCH 8: 149m @ 0.52 g/t Au, 0.44% Cu

NCR 29: 7m @ 8.0 g/t Au, 0.03% Cuincl 2m @ 26.3 g/t AuNCR 28: 1m @ 11.67 g/t Au,

0.01% Cu

NCH 19: 157m @ 0.78 g/t Au, 0.40% Cu

VHR 7: 200m @ 0.19 g/t Au, 0.13% Cu

NCH 12: 171m @ 0.30 g/t Au, 0.15% Cu

NCH 10: 18m @ 0.22 g/t Au, 0.10% Cu

CHRC 13: 80m @ 1.04 g/t Au, 0.40% Cu

CHRC 58: 217m @ 1.67 g/t Au, 0.72% Cu

NCH 9: 1m @ 0.92 g/t Au, 0.30% Cu

CHRC 40: 8m @ 0.45 g/t Au, 0.05% Cu

current

NCR 30: 2m @ 9.31 g/t Au

NCR 31: 6m @ 0.28% Zn

IntervalFrom

surfacesurfacesurfacesurface

8surface

301

Gold

2.271.911.881.151.431.492.261.91

Significant Intersections from Previous Drilling

2674464667622079

Copper

0.620.780.510.850.830.690.860.72

Gold Equiv*

75.1199.1109.9

92.0151.4135.2

62.4207.8

(m)(m) (g/t) (%) (Gram-metres)

*Gram-metres equivalent = (gold+copper) x metres

Boundary

Area covered by recentInduced Polarisationsurvey

0 1 Km


FIGURE 3COPPER HILL PROJECT- LocationGCR 29-4-2002

GCR

5000N

5500N

6000N

5500E

5000E

Dark areas correspond tochargeability values greater than 45 mV/V

Grey areas correspond tochargeability values greater than 25 mV/V

Main Area ofDrilled Cu-AuMineralisation


FIGURE 4COPPER HILL PROJECT- IP Survey : 3D Inversion Model of ChargeabilityGCR 29-4-2002


FIGURE 5McPHAILS PROJECTGCR 29-4-2002

6393200 mN

Alkane’s Compass JV

Alkane’s Golden Cross JV

6393400 mN

Pelitic sediments

EL5830Golden Cross

WY136 2m @ 8.19g/tWY134 57m @ 1.95g/tWY135 70m @ 1.53g/tWY138 11m @ 1.58g/tand 33m @ 2.00g/tWY154 3m @ 2.42g/tand 70m @ 1.12g/t

WY065 14m @ 3.29g/tWY081 12m @ 4.83g/tand 5m @ 5.01g/tWY153 19m @ 3.20g/t

614200 mE

0 100

metres

Porphyry outline at ~70m (~200m RL) Porphyry outline at ~120m (~150m RL)

WY085 18m @ 1.81g/tWY088 7m @ 3.53g/tand 6m @ 1.55g/tWY155 76m @ 1.90g/tand 5m @ 6.14g/t

WY

064

WY

065

WY

066

WY

067

WY

068

WY

081

WY

082

WY

083

WY

084

WY

085

WY

086

WY

087

WY

088

WY

089

WY

090

WY

091

WY

092

WY

093

WY

094

WY

134

WY

135

WY

136

WY

137

WY

138

WY

139

WY

140

WY

141

WY

142

WY

143

WY

144

WY

145

WY

146

WY

147

WY

153

WY

154

WY

155

WY

156

WY

157

WY

158

WY

159

WY

160

WY

161

WY

162

WY

163

WY

164

WY

165

WY

166

WY

167

WY

168

WY

169

WY

170

WY

171

WY

172

WY

173

WY166 69m @ 1.42g/tWY167 117m @ 1.50g/tand 5m @ 13.26g/tWY168 63m @ 2.46g/tand 16m @ 5.98g/t

WY163 3m @ 4.82g/tWY161 33m @ 2.93g/tand 9m @ 4.83g/t

WY158 79m @ 0.80g/tand 4m @ 4.35g/tWY159 46m @ 3.07g/tand 11m @ 5.88g/tWY160 55m @ 1.08g/tand 3m @ 5.45g/t

WY170 18m @ 3.10g/tand 12m @ 4.21g/tWY171 7m @ 1.48g/tWY172 11m @ 4.23g/t

WY173 5m @ 1.34g/t

6392000 N

615000

E

3m @ 1.04 g/t Au

9m @ 2.8 g/t Au 3m @ 1.04 g/t Au

6393000 N

Area of oldmining leaseexcluded fromAlkane farm-in

Golden Cross

EL 5830

Area ofDetailabove

McLeans

Wyoming

Untested Zonesof Mineralisation

Peak Hill 14 km

Workings

Drill holes - Sipa Resources (1997)

Drill holes - Alkane (2001)

GCR tenement

Gold Zones

500 m0

32 30'

148

15'

Tomingley

Peak Hill

5 km

McPhailsEL 5830

New

ell

H/W

5m @ 1.34 g/t Au

GCR

Multi-element Geochemical Anomaliesdefined by RAB & Auger drilling (Au-As-Pb-Zn-Sb)

CanbelegoTownship

To

Cobar

To

Nym

agee

POLYMETALS

LEASES

0 500 m

Hoffnungs Shaft

Birthday

Bir th

day

Syn

clin

e

MtB

oppy

Synclin

e

Mt Boppy

Gold Mine1mt @ 12 g/t Au(Historic Production)

Historic holes

GCR holes

Old Mines

Open Pit

TailingsDetailArea

East Mt Boppy

Reid & Rankins

Canbelego KingRAB 167: 22m @ 0.18% Pb

0.13 g/t Au

RAB 183: 4m @ 0.95 g/t Au

GCB-04: 26m @ 0.28% Zn

GCB-06: 16m @ 0.34 g/t AuGCB-02: 31m @ 0.25% Zn

Sth Mt Boppy

0 50 m

6507200N

43

54

00

E

No.1 Shaft

No.2Shaft

No.3Shaft

GEOCHEMICALANOMALY

Sth Mt Boppy Mine

Mullock Sample53 g/t Au

9 Grab Samples average 4.8 g/t AuMax = 11.6 g/t Au Min = 1.65 g/t Au

Stockwork0.56 g/t Au

B A L E D M U N D F M

G I R I L A M B O N E M E TA S E D I M E N T S

F L O R I D A V O L C A N I C S

Rock chip Samples16.4 g/t Au over 0.3mand 6.6 g/t Au over 1m

Mullock Samples3.8 g/t Au and 4.6 g/t Au

RAB, Auger holes

Rock chip, Mullock, Float sample

Stockwork Qtz veining

Adits and Drives (Historic)

Quartz vein

NeshamsShaft

Barrier H/W

To Cobar

10 kmEL 5842

31 45'

14

63

0'

Canbelego


FIGURE 6PIPELINE / CANBELEGO PROJECTGCR 29-4-2002

GCR

Yellow

Mountain

Location

20 km

Mineral Hill

Condobolin 20 Km

32 30'

147

00'

Au-Cu Mine

Granite

GCR

DEVONIAN

DDH 8A

3.08 g/t Auin rock chip

Quartz-tourmalineveins

Drill hole

Prospect / Old mine

Geochemistry

Fault

Felsic Volcanics

Sediments

Erimeron Granite

SILURIAN

Girilambone Metamorphics

ORDOVICIAN

Gold - Arsenic Soil Anomalies

Legend

Geophysics

Geology

Magnetic contours

Webers Gossan

AnomalousAs-Sb+Cu+Pb+Znin rockchip &mullock samples

(Cu)

Open Cut Zone

Trenching6m @ 4.4 g/t Au18m @ 29 g/t Ag4m @ 4.5 g/t Au

Yellow Mountain Prospect

Best Intersection111m @ 0.4% Cu, 1.0% Pb,1.6% Zn and 25 g/t Ag

Mullock samples to:1.08 ppm Au, 7.15% Cu,6.40% Pb, 550 ppm Zn,270 ppm Ag, 450 ppm Bi

Rosedale Prospect

24m @ 2.0 g/t Au

EL 5787

EL 5787

EL 5787

EL 5721

Ironclad Mine (Cu)

Mt Susannah Mine

Mullock sample : 2.37% Cu,1090 ppm Pb, 383 ppm Zn,141 ppm Bi

Mullock sample :2000 ppm Cu, 456 ppm Pb,233 ppm Zn, 2.5 ppm Ag,216 ppm As

Rockchip samples to :2770 ppm Cu, 281 ppm Pb,339 ppm Zn, 1.3 ppm Ag,

China Workings (Cu)

epidote-chlorite-magnetite alteration

Melrose Magnetic Anomaly(intrusion related alteration)

Strong albite alteration, hornfelsedsediments with calc-silicate replacement,disseminated magnetite quartz-magnetitechalcopyrite-molybdenite veins

Quarry HillProspectGold-Arsenic richShear Zoneswell developedquartz stockwork

0 5 Km


FIGURE 7YELLOW MOUNTAIN PROJECTGCR 29-4-2002


FIGURE 8BREADALBANE PROJECTGCR 29-4-2002

Goulb

urn

Hume H/W

Lachlan

R

Map Area

34 45’

14

93

0’

5 km

Breadalbane

Collector

GCR

0 500 1000 m

724600

E

6145600 N GreendaleProspect

B2 Prospect

DB1: 6 m @ 1.34% Zn0.53% Pb, 0.12% Cu

WL24 : 87 0 m @ 0.81 g/t Au

incl. 5 3 m @ 5.75 g/t Au

.

.

WL17 : 81 0 m @ 0.78 g/t Au.

B2/7 : 16 m @ 1.07% Zn, 0.52% Pb

B1/3 : 6 4 m @ 1.36 g/t Au.

B2/10 : 6 m @ 4.90% Zn1.84% Pb, 0.26% Cu

WL28 : 142 1 m @ 0.89 g/t Au

incl. 12 m @ 4.36 g/t Au

.

WL31 : 148 4 m @ 0.97 g/t Au

incl. 14 6 m @ 5.1 g/t Au

..

Wet Lagoon Prospect

B1 Prospect

IP Anomaly

Historic Drilling

Lead Geochemical Anomalies

IP Anomaly

IP Anomaly

Wetlands Reserve

MAGNETIC

LOW

MAGNETIC

LOW

(no drilling)

CoincidentIP/GeochemAnomaly(no drilling)

H UM E H I G H W A Y

GOLDEN CROSS RESOURCES LTD

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