and...bang there it is sxg, page-2

All good another suitor offer still open:
"We refer to the proposal by Beacon Minerals Limited (“Beacon Minerals”) to sell Mining
Lease 77/1254 (“Barlee ML”) to Ramelius Resources Limited (“Ramelius”), which is
subject to the approval of Beacon Mineral’s shareholders at the general meeting
scheduled for 12 March 2012.
In its letter to Beacon Minerals’ shareholders accompanying the Notice of Meeting,
released to ASX on 8 February 2012, Beacon Minerals stated:
“During the December quarter, and in parallel with the submission of the Proposal to
Mine to the Department of Mines and Petroleum, extensive discussions were held with
various parties looking at options such as toll treatment, a stand-alone processing plant
and other commercial arrangements. The Directors took the decision that the sale of the
Barlee ML to Ramelius represented the best value to shareholders with respect to both
risk and return.”
Southern Cross Goldfields Limited (“SXG” or “the Company”) would like to clarify for its
shareholders the Company’s involvement in discussions with Beacon Minerals regarding
the Barlee Gold Project, including Mining Lease 77/1254.
SXG was a party to discussions involving the disposal of Mining Lease 77/1254 during
the December quarter, and earlier, in 2011. In early 2011, SXG made a formal offer to
the Board of Beacon Minerals to acquire Beacon Minerals gold assets that comprise the
Barlee Gold Project including Mining Lease 77/1254. SXG’s offer consisted of an offer to
acquire the tenement comprising the Barlee Gold Project in consideration for the issue to
Beacon Minerals of 60 million SXG shares to be distributed in-specie to Beacon
shareholders.
Whilst it is apparent that SXG’s offer has not been accepted by Beacon Minerals, SXG’s
offer has not been withdrawn by the Company and, as far as SXG is aware, it has not
received any formal rejection of its offer from Beacon Minerals.
The Company has today written to the Board of Beacon Minerals regarding its offer and
reiterating its willingness to enter into negotiations to acquire the Barlee Gold Project
should Beacon Minerals shareholders vote against the sale of the Barlee ML to
Ramelius.
The Board of SXG is of the belief that its offer for the acquisition of the Barlee Gold
Project represents superior immediate value to Beacon Minerals shareholders, as well as
superior long term upside potential via exposure to Southern Cross Goldfields’
production strategy, extensive regional gold exploration potential and exciting Copper
Bore project (refer Figure 1).
SXG shareholders will be aware of the Company’s stated regional gold production and
consolidation strategy involving the establishment of a gold production facility at Marda
Central (100 kilometres south of Barlee) and the Company’s activities during 2011 in
successfully concluding three regional gold consolidation transactions."

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