Crocodile Gold Produces 163,516 Ounces of Gold in First Nine Months of 2014 and Raises Annual Production Guidance to 220,000-225,000 Ounces of Gold - Seite 2

Cosmo Gold Mine

Cosmo posted strong mine production of 202,290 tonnes of ore in Q3 2014, achieving record stope production of 69,795 tonnes in July. Mined grade was down during the quarter to 3.03 g/t Au as a result of dilution from challenging ground conditions. The grade is expected to recover as Cosmo advances into the next mining block during the fourth quarter. Development continues to progress in line with current mine plans at 1,050 metres in the quarter compared to 1,430 metres for the same period last year. Capital development was 476 metres versus 574 metres in operating development.

The Union Reefs Mill processed 198,168 tonnes of ore at an average grade of 3.03 g/t Au for gold production of 17,928 ounces of gold. Tonnage milled was down from Q2 2014 due to limited operating days under the current mill roster scheduling, which resulted in an ore stockpile build at quarter-end. Mill recovery was 92.8%, with record recovery of 94.1% in July, highlighting the progress that the Union Reefs Mill has made in stabilizing the process and improving controls to better react to changes on ore being fed through the mill.

Fosterville Gold Mine

Fosterville continues to maintain its strong, consistent performance, mining 192,633 ore tonnes during Q3 2014, down slightly from Q2 2014. The mined grade improved significantly over the quarter to an average grade of 5.21 g/t Au as the mining fronts moved into the higher-grade areas. Mine development for the quarter was 1,907 metres, slightly ahead of the 1,891 metres developed in the previous quarter (1,812 metres in Q3 2013). Of this total, 1,269 metres were capital development particularly focused upon the Phoenix Decline to unlock the higher-grade levels of the Lower Phoenix lens.

Fosterville processed 200,708 tonnes during the quarter at an average grade of 5.02 g/t Au and a recovery rate of 86.8%. The recovery represented the second highest recovery rate ever for Fosterville and the site is on track to exceed its highest annual recovery (85.2% in 2013). Strong physical results at the mill resulted in gold production of 28,313, a significant increase over Q2 2014 production of 22,198 ounces, and represent the highest quarterly ounce production for Fosterville in three years and the fourth highest ever.