Crocodile Gold Reports Drilling Results at Fostervile Gold Mine Extending Gold Mineralization on the Phoenix Structures

TORONTO, ONTARIO--(Marketwired - March 12, 2014) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC)("Crocodile Gold" or the "Company") reports on high-grade intersections from drill holes completed on the Phoenix and Lower Phoenix structures at the Fosterville Gold Mine (FGM) in the State of Victoria, Australia. Highlights of the drilling include:

Phoenix Structure Drill Intercepts

• 12.66 g/t Au over 6.90m (ETW* 5.40m) in hole UDH0501
• 6.40 g/t Au over 9.65m (ETW 7.90m) in hole UDH0503
• 10.41 g/t Au over 5.30m (ETW 3.80m) in hole UDH0505
• 6.00 g/t Au over 15.90m (ETW 11.70m) in hole UDH0750

Lower Phoenix Structure Drill Intercepts

• 24.00 g/t Au over 33.80m (ETW 7.00m) in hole UDE110
• 32.86 g/t Au over 3.60m (ETW 3.00m) in hole UDH0561
• 12.89 g/t Au over 14.35m (ETW 8.00m) in hole UDH0575
• 19.15 g/t Au over 6.85m (ETW 6.30m) in hole UDH0617
• 16.67 g/t Au over 11.90m (ETW 8.60m) in hole UDH0643
• 122.35 g/t Au over 6.80m (ETW 6.60m) in hole UDH0755

*ETW - Estimated True Width. Full drill results can be found in Table 1

2013 Phoenix and Lower Phoenix Drilling Program

The Company's 2013 drilling campaign at Fosterville Gold Mine targeted known estimated Mineral Resources associated with the Phoenix and Lower Phoenix structures as well as extension opportunities, believed to provide excellent potential for Mineral Resource growth. Progressive drilling and geological modeling of the Phoenix Fault System has confirmed the presence of two favourable structural zones (Phoenix and Lower Phoenix) below the 4500mRL, which host significant gold mineralization. Both the Phoenix and Lower Phoenix Zones are proximal to fold axial plane offsets along the Phoenix Fault System.

Lower Phoenix Structure

Crocodile Gold has drilled 225 metres south along strike (down plunge), 275 metres north along strike (up plunge) and 75 metres down dip from the existing Lower Phoenix estimated Mineral Reserve (See Figures 1, 2, 3 & 4). Drill results have provided evidence that significant gold mineralization associated with the Lower Phoenix structure is continuous over a 1 kilometre strike length and an approximate 100 metre down dip length, between Mine Grid northings 6700mN and 7700mN. Drill intercepts that fall outside of the current estimated Mineral Reserve and that, in management's view, present opportunity for Mineral Resource extension are reported in Table 1. Drilling is absent south of 6700mN and there is no drilling north of 7700mN for a distance of 500 metres on the Lower Phoenix structure. Crocodile Gold expects to complete additional drilling in 2014 south of 6700mN and north of 7700mN along the interpreted orientation of the Lower Phoenix structure, where there is potential to define further zones of significant gold mineralization.