Crocodile Gold Achieves Record Operating Cash Flow For The Year Ended December 31, 2014

TORONTO, ONTARIO--(Marketwired - Jan. 26, 2015) - Crocodile Gold Corp. ("Crocodile Gold" or the "Company") (TSX:CRK)(TSX:CRK.DB)(TSX:CRK.WT)(OTCQX:CROCF)(FRANKFURT:XGC) today reported preliminary operating cash flow, operating cash costs and all-in sustaining costs ("AISC") for the fourth quarter ("Q4/14") and year ended December 31, 2014. Full financial results for the year ended December 31, 2014 will be released Monday, March 16, 2015.

(All figures are in United States ("U.S.") dollars, unless stated otherwise)

Key Preliminary Highlights Include:

• Record annual operating cash flow of $74.2M in 2014
• Operating cash flow increased 38.7% sequentially to $25.3M in Q4/14
• Q4/14 operating cash costs of $793 per ounce
• Q4/14 preliminary AISC per ounce of $1,098
• 2014 operational cash costs per ounce of $905, at lower end of 2014 guidance

During a year burdened by a challenging gold price environment, Crocodile Gold achieved record gold production resulting in preliminary operating cash flow of $25.3 million in the fourth quarter and a record $74.2 million in 2014. Throughout the fourth quarter of 2014, efforts to reduce costs and strategically manage discretionary spending throughout operations resulted in a fourth sequential quarter of declining operating cash costs and record low AISC. Preliminary operating cash costs per ounce declined 17.7% to $793 and preliminary AISC per ounce declined 12.6% to $1,098, compared to the prior year comparative period.

In 2014, the Company demonstrated its ability to deliver sustainable production levels and significantly decreased its cost profile. Annual preliminary operating cash costs per ounce of $905 were in line with the lower end of the Company's initial guidance of $900 - $950 per ounce. Additionally, preliminary all-in sustaining costs per ounce for the full year decreased 10.8% to $1,236 compared to $1,386 in 2013.

2014 Operating Summary

	2013	Q1/14	Q2/14	Q3/14	Q4/14	2014
Gold ounces produced	210,696	53,583	54,024	55,909	58,796	222,312
Average realized gold price ($)	1,407	1,280	1,291	1,298	1,202	1,268
Operating cash costs per ounce sold ($)*	1,027	971	965	898	793	905
All-in sustaining cash costs per ounce sold ($)*	1,386	1,307	1,316	1,233	1,098	1,236
* See Non-IFRS Disclosures

At December 31, 2014, the Company reported a preliminary cash and gold bullion (at fair market value) balance of $37.0 million. On January 14, 2015, Crocodile Gold closed an agreement to terminate its net free cash flow sharing arrangement with AuRico Gold Inc. ("AuRico") without incurring additional debt.