Regulatory Information

Corporate Governance

Corporate Governance Statement

Employee Share Option Plan

Charter of Audit Committee

Environmental Regulation and Performance

Australia

In Australia our operations are subject to Commonwealth and State level legislation. At the Cannon mine there is a requirement to minimise environmental impacts where possible and where they do occur to mitigate and rehabilitate post mine closure.

Prior to approval being given to commence mining, detailed evaluation is required of aspects such as culture, heritage, flora, fauna, surface and sub-surface hydrology, geotechnical stability, soil and waste composition and visual impact. Assessment of the risks associated with potential impacts of mining activities on the attributes documented and the manner in which these are able to be dealt with are then used to inform comprehensive management plans relating to how day-to-day and post-mining closure activities will be undertaken. Only once these plans are approved by the relevant authorities is mining allowed to begin.

Southern Gold has engaged Westgold Resources Ltd to conduct all site activities and this includes Australian-standard occupation health and safety and environmental management systems. Westgold Resources are also responsible for undertaking the post mining phase rehabilitation activity and subsequent monitoring.

In addition to the Cannon Mine, the company also conducts exploration activities and these are also well regulated. Southern Gold aims to leave a light touch on the environment in which we operate and we ensure areas of exploration are rehabilitated after operations are concluded.

South Korea

In South Korea, exploration and mining activity is principally regulated at the national level by the Minister of Trade, Industry and Energy (MOTI) which in turn manages mining and exploration affairs through the Mine Registration Office, Local Government and the Mine Safety Office.

Environmental issues are managed by either the Framework Act on Environmental Policy or the Environmental Impact Assessment Act. Southern Gold is currently investigating the regulatory framework in South Korea in detail to ensure it manages its business prudently as we move projects forward into production.

Competent Person’s Statements

Australia – Exploration Results

The information on this website and in attached reports that relates to Exploration Results in Australia has been compiled under the supervision of Dr. Justin Gum (MAIG). Dr Gum, who is an employee of Southern Gold Limited and a Member of the Australian Institute of Geoscience, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Mineral Resources and Ore Reserves. Dr Gum consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

South Korea – Exploration Results

The information on this website and in attached reports that relates to Exploration Results in South Korea has been compiled under the supervision of Dr Chris Bowden (FAusIMM(CP)). Dr Bowden, who is an employee of Southern Gold Limited and a Fellow and Chartered Professional of The Australasian Institute of Mining and Metallurgy, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Bowden consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Australia and South Korea – Resources and Reserves

The information on this website and in attached reports that relates to Cannon Mineral Resources is based on information compiled by Mr Ian Blucher (MAusIMM). Mr Blucher is an employee of Southern Gold Limited and has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC, 2012). Mr Blucher consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.