Crocodile Gold Produces 53,583 Ounces of Gold in the First Quarter of 2014 - Seite 3

Update on the Big Hill Project

In April 2014, Crocodile Gold released the Environmental Effects Statement (EES) for the Big Hill Enhanced Development Project (the "Project"). The EES is a significant part of the permitting process and will form the basis of the Ministerial assessment of the Project expected later in 2014. The EES is available for public review and comment; access to the complete document has been made available on the Company's website at www.crocgold.com.

Cash Balance and Working Capital Position

At the end of the first quarter of 2014, Crocodile Gold had a preliminary cash balance of $38.0 million and working capital of approximately $28.3 million. In February 2014, the Company fully settled its outstanding credit facility with Credit Suisse.

As disclosed in the December 31, 2013 audited annual financial statements, the Company and AuRico Gold Inc. engaged an independent expert to determine the treatment of certain financial transactions in the net free cash flow sharing arrangement that exists between the two parties. On April 14, the independent expert concluded that such items were to be included in the calculation of contingent payments. The Company has reviewed the report and determined that no contingent payments are currently payable under the agreement and that based on current plans and gold prices, no portion of the contingent consideration will be classified as current.

About Crocodile Gold

Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in Australia, in the State of Victoria and the Northern Territory. The Company also has a combined land package in excess of 4,000 sq. km. Crocodile Gold is focused on sustainable production from its three operating mines, Cosmo, Stawell and Fosterville, while also exploring and developing the Company's assets to ensure continued production in the future. For additional information, please visit our website www.crocgold.com.

Follow us on Twitter @crocgold_crk or on Facebook at /CrocodileGoldCorp.

Qualified Person

F. W. Nielsen, P.Geo., a technical consultant to Crocodile Gold Corp., is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

Cautionary Note

Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations for future performance based on current drill results and past production, expected gold prices, and mineral resource estimates, and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licences, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.