Crocodile Gold Reports Drilling Results at Fostervile Gold Mine Extending Gold Mineralization on the Phoenix Structures - Seite 3

The Company is in the process of updating its Mineral Reserve and Mineral Resource estimate at Fosterville, which will incorporate the encouraging drill results obtained throughout 2013. The work is expected to be finalized in the second quarter and management is optimistic that additional estimated Mineral Resources identified will continue to extend the mine life of Fosterville.

About Fosterville Gold Mine

FGM commenced commercial production in April 2005 and up to the end of December 2013 has produced 771,266 ounces of gold. The ore is refractory and gold is recovered through a state-of-the-art BIOX® processing plant that produces approximately 90,000 to 100,000 ounces annually. The mill is capable of processing approximately 830,000 tonnes of ore annually.

Qualified Persons

F. W. Nielsen, P. Geo, a technical consultant to Crocodile Gold Corp., Troy Fuller, Geology Manager and Simon Hitchman, Exploration Manager of Fosterville Gold Mine are "qualified persons" as such term is defined in National Instrument 43-101 and have reviewed and approved the technical information and data included in this press release.

QAQC

All diamond drill hole collars (Table 2) are accurately surveyed using a Leica Total Stations instrument and down hole deviations are also verified by electronic multi-shot cameras. All equipment is regularly calibrated.

Drill samples were assayed at On Site Laboratories in Bendigo, Victoria. Assay results are based on 25 gram charge fire assays. All reported intersections are from NQ2 sized diamond drill core that was cut longitudinally in half with a diamond saw. One half of the drill core was sent for assay and the other half retained for reference. Drill core sample intervals are determined using logged sulphide controls, vary between 0.3 and 1.5m in length.

Mean grades have been calculated using a variable lower cut-off (generally 2 g/t Au) and maximum 2m internal dilution. No upper gold grade cut has been applied. All intersections are down-hole intervals. Assay QA/QC for these drill holes was checked and verified through the use of blind and laboratory standards, laboratory duplicates, repeats and insertion of blind blanks. Between laboratory jobs barren flushes are carried out to remove job to job contamination. QAQC results are within expected limits. Drill intercepts containing visible gold are annotated in Table 1.