where did our $6 million dollar project go ??, page-3

31 December 2003


ASX release

RE: Namibian Gold Project (Ondundu )

This is to advise that Southern Cross Exploration NL has agreed to purchase the minority interest of 25% in the Namibian subsidiary company which is the registered holder of the three Mining Licences known as the Ondundu Gold Project.

It would be detrimental to the commercial interests of the company to disclose the consideration payable but the company believes that it is obtaining the said interest at a fair and reasonable price .

The transaction is entirely at arms length and no Directors of Southern Cross have had any interest in this minority holding ????

Boris Ganke
Chairman


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