to list uranium subsidiary

$14 MILLION PROPOSAL TO LIST URANIUM SUBSIDIARY
SOUTHERN URANIUM LIMITED

Southern Gold Limited (ASX: SAU) has elected to proceed with an Initial Public Offer (IPO)
to list its 100% owned subsidiary Southern Uranium Limited on the Australian Stock
Exchange early in 2007
Southern Gold intends to retain a significant (approximately 40%) interest in Southern
Uranium Limited following the public listing which is proposed to raise up to $14 million.
Southern Gold shareholders shall have a priority opportunity to invest in Southern Uranium
Limited.
The extensive portfolio of palaeochannel and IOCGU uranium exploration projects in the
Gawler Craton of South Australia will be listed as a separate public entity to allow investors
the opportunity to participate in a dedicated uranium exploration enterprise.
Details of appointments to the board of Southern Uranium Limited shall be released shortly,
however Mr. John Anderson has accepted the offer of the position of Managing Director.
John Anderson is a Brisbane-based geologist and exploration manager of 28 years
experience with Aberfoyle and MIM, most recently as General Manager – Exploration
Australia for MIM Exploration Pty Ltd.
John has explored in all Australian jurisdictions and for most commodities with an emphasis
on the major base metal/gold mining centres of the Proterozoic including Broken Hill, Mount
Isa/Ernest Henry and the Gawler Craton.
John led teams in the discoveries of the Angas zinc resource, the major portion of the
Menninnie Dam zinc deposit, the White Dam gold copper deposit and several mineral sands
deposits in the Murray Basin. He is former President of the South Australian Chamber of
Mines and Energy. John is currently Non-Executive Director with Southern Gold Limited.