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GOLDEN CROSS RESOURCES LTD, QUARTERLY REPORT FOR DECEMBER 2011

HIGHLIGHTS

Copper Hill

- Scoping Study delivered with plant capital cost estimate at $92 million
- Total Geological Resource: 215 million tonnes at 0.3% copper and 0.24 g/t gold
- Constrained Resource:153 million tonnes containing 511,000 tonnes of copper and 1.35 million ounces of gold
- Metallurgical studies continuing

Other Projects

- Cargo drilling completed: 6 holes totalling 757.9 metres
- Gawler Craton copper-gold: progress with access and other approvals for planned drilling.


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