Ann: Sale of Mulga Tank Equity, page-2

Sale of Mulga Tank Equity Sale of GCR 30% equity in Mulga Tank for $275,000 Golden Cross Resources Limited (ASX:GCR) announces that its wholly owned subsidiary King Eagle Resources Pty Ltd (King Eagle) has reached agreement with its joint venture partner in the Mulga Tank project, Impact Minerals Limited (ASX:IPT) for the sale of its equity in the tenements for $275,000. Impact previously purchased a 20% interest from third parties and has the right to earn a further 50% interest (total 70%) as part of the Mulga Tank Joint Venture with GCR. King Eagle has received a deposit of $25,000 with the balance to be paid at settlement which is expected to occur by early March. King Eagle will repay part of a loan from GCR with these funds, and GCR will utilise part of the funds for its current Scoping Study for the Copper Hill project.