Crossroads Gold Corp.

Crossroads Gold (TSXV: CRG) is a pure grassroots exploration company that listed on the TSXV on March 4, 2026. It holds two Victoria, Australia gold projects — Steiglitz (53 km², Bendigo Zone, historical 250,800 oz at 38 g/t Au, only 5 modern drill holes ever completed) and Pheasant Creek (232 km², Melbourne Zone, immediately south of Southern Cross Gold's Sunday Creek epizonal discovery). Composite score: 12/25 — AVOID.

The company is pre-resource and pre-drill. No JORC or NI 43-101 resource estimate exists for either project — study level is early-stage grassroots, pre-drill. Maiden soil sampling across the Hanover Fault Zone is active as of late March 2026, and a Work Plan for Phase 1 scout drilling has been submitted to ERR Victoria, with Q2 2026 as the target commencement window pending regulatory approval. First-ever drill results would be the first material re-rating catalyst. A NAV cannot be calculated; P/NAV analysis is not applicable at this stage.

The management quality (Fiore Group backing, CEO Rex Motton's Fosterville South pedigree) and geological address (Bendigo Belt; Sunday Creek adjacency) are genuinely exceptional for a C$13.3M market cap company — these are the reasons the score is not lower. This AVOID reflects the stage, not the address: at sub-$14M market cap with no drill results, retail investors are taking a purely speculative binary bet on maiden drilling. Re-evaluate on first drill assay results from the Phase 1 scout program, expected Q3 2026 if ERR approval is received in Q2.