June 11 (Reuters) - Southern Cross Gold Ltd ( SXGDF ):

* SXG PROPOSED MERGER WITH MAWSON GOLD AND DUAL LISTING

* SIGNED A NON-BINDING TERM SHEET WITH MAWSON GOLD OF CANADA

* RESULTING ENTITY FROM MERGER WILL BE LISTED ON BOTH

AUSTRALIAN

SECURITIES EXCHANGE (ASX) AND TSX VENTURE EXCHANGE

* TERM SHEET TO MERGE COS THROUGH AN AUSTRALIAN SCHEME OF

ARRANGEMENT TRANSACTION

* IN AGREEMENT, MAWSON TO PURCHASE ALL SXG SHARES THAT IT

DOES NOT

OWN BY WAY OF A SCHEME OF ARRANGEMENT ON A 1 FOR 1 BASIS

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