Former Newcrest CEO Ian Smith Joins Southern Cross Gold Board

Mining Industry Leader Who Transformed Newcrest into Global Gold Major Appointed Non-Executive Director

Vancouver, British Columbia and Melbourne, Australia–(Newsfile Corp. – January 26, 2026) – Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) (“SXGC”, “SX2” or the “Company”) is pleased to announce the appointment of Mr Ian Smith as a Non-Executive Director of the Company, effective immediately.

Mr Ian Smith is a highly experienced executive and director with more than 45 years working in, and leading, domestic and international mining and mining services companies. He has held some of the most senior positions in the global resources industry.

Key Highlights:

• Ian Smith, former Managing Director and CEO of Newcrest Mining and Orica, appointed Non-Executive Director 

• Over 45 years of mining industry leadership across gold, copper, uranium, and mining services

• Transformed Newcrest from US$4.5 billion to US$30 billion market capitalisation during his tenure as CEO 

• Grew Newcrest gold reserves by 245% and copper reserves by 375% 

• Former Chairman of the Minerals Council of Australia; currently Chairman of VHM Ltd (ASX: VHM) 

• Fourth-generation connection to Broken Hill – birthplace of Australia’s mining industry

Tom Eadie, Non-Executive Chairman, commented: “Ian and I worked together at Pasminco decades ago, and I have followed his remarkable career ever since. What he achieved at Newcrest – growing it from a mid-tier producer into a global top-three gold company – remains one of the great Australian mining success stories. On behalf of the Board, I warmly welcome Ian to Southern Cross Gold.”

Michael Hudson, President & CEO, commented: “We are honoured to welcome Ian Smith to our board. Ian brings exactly the operational and strategic expertise we need as we transition Sunday Creek from discovery to development. His deep experience building globally significant underground gold operations, combined with his understanding of Victorian mining through his current role at VHM, makes him an exceptional addition. Ian’s track record of creating shareholder value speaks for itself.”

Newcrest Mining (2006-2011)

As Managing Director and CEO of Newcrest Mining, Mr Smith transformed the company from a mid-tier producer into Australia’s largest gold mining company and one of the largest gold operators in the world. During his tenure:

• Market capitalisation grew from US$4.5 billion to US$30 billion
• Gold reserves increased by 245%; copper reserves expanded by 375%
• Completed the A$10.5 billion acquisition and integration of Lihir Gold Limited
• Raised A$2 billion to fund financial restructure and hedge book close-out
• Lifted profit margins significantly (EBITDA 52%, EBIT 40%)

Orica Limited (2012-2015)

Mr Smith subsequently served as Managing Director and CEO of Orica, the world’s largest manufacturer and supplier of commercial explosives, overseeing 16,000 employees across more than 50 countries with sales in over 100 countries.

Earlier Career

Mr Smith’s earlier career included senior executive positions with Rio Tinto (including the Executive Committee based in London and Managing Director of Comalco Aluminium Smelting), WMC Resources where he was General Manager of Operations at Olympic Dam during its first major expansion, Pasminco, and CRA Limited. His fourth-generation connection to Broken Hill reflects deep roots in Australian mining.

Industry Leadership

Mr Smith has served as Chairman of the Minerals Council of Australia. He has also served as President of the Australian Mines & Metals Association and on the board of the Australian Chamber of Commerce & Industry.

Mr Smith currently serves as Non-Executive Chairman of VHM Ltd (ASX: VHM), a Victorian rare earths and mineral sands company advancing the Goschen Project. He holds a Bachelor of Engineering (Mining) with Honours from the University of New South Wales, a Bachelor of Financial Administration from the University of New England, and is a Fellow of both the AusIMM and Engineers Australia.

Mr Smith stated: “I am delighted to join Southern Cross Gold at such an exciting stage of the Company’s development. Sunday Creek represents a rare opportunity – a high-grade gold-antimony discovery in a world-class jurisdiction with exceptional infrastructure. The quality of the geological results, combined with the recent approval for the exploration decline, positions this project for significant value creation. I look forward to contributing to the Company’s success.”

About Southern Cross Gold Consolidated Limited (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3)

Southern Cross Gold Consolidated Ltd (ASX: SX2) (TSX: SXGC) (OTCQX: SXGCF) is advancing the Sunday Creek gold-antimony project in Victoria, Australia. The Company is well-funded following a C$143 million capital raise and owns 1,392 hectares of freehold land at the project.

– Ends –

This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.

Forward-Looking Statement

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in the Company’s documents filed with Canadian or Australian (under code SX2) securities regulatory authorities. You can find further information with respect to these and other risks in filings made by the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for the Company in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2). Documents are also available at www.southerncrossgold.com The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

 

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