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 3

Stawell Gold Mine

In Q3 2014, Stawell mined 136,849 tonnes of underground ore from the upper levels of the mine at an average grade of 2.50 g/t Au. While the mine plan continues to focus on the development of remnant resources in the upper levels, Stawell continues to invest limited exploration expenditures in order to maintain the viability of the underground operations into future quarters. Operational mine development for the quarter was 750 metres. The mill processed a total of 232,840 tonnes of ore, at an average grade of 1.62 g/t Au and recoveries of 79.5%, with underground ore being supplemented by lower-grade oxide stockpiles. Gold production for the quarter was 9,654 ounces.

Financial Position and Investments

At the end of the third quarter of 2014, Crocodile Gold had a preliminary cash and gold bullion (at market value) balance of $30.5 million and working capital of approximately $16.0 million. Full financial details and associated all-in sustaining and operating cash cost details will be released in November 2014.

During the quarter, Crocodile Gold invested $5.1M to acquire a significant minority interest in the privately-owned Silvertip Project in northern British Columbia and also received a seat on the company's board of directors. The Silvertip Project is an attractive near-production, high grade silver and polymetallic project with a strong resource in a stable mining jurisdiction.

Corporate Update and Head Office Change

Crocodile Gold would like to announce that it has relocated the Company's Canadian head offices to First Canadian Place at 100 King Street West, Suite 5600, Toronto, Ontario.

In addition, the Company is pleased to announce the appointment of Ms. Jo-Anne Archibald as Corporate Secretary of the Company. Ms. Archibald is President of DSA Corporate Services Inc. ("DSA"), a leading Canadian provider of corporate secretarial services to public companies. Ms. Archibald will be replacing Ms. Brianna Davies effective immediately. Crocodile Gold wishes to thanks Ms. Davies for her many contributions to the Company.

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 objective of Crocodile Gold is to continue production from its three operating mines, Cosmo, Fosterville, and Stawell, while also exploring and developing the Company's resources to ensure sustainable production in the future.