Crocodile Gold Annual General Meeting June 5th 2014

Forward Looking Information

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This presentation contains forward-looking information under Canadian securities legislation.  Forward-looking information includes, but is not limited to, statements with respect to the development potential and timetable of the projects; the Company’s ability to raise additional funds as necessary or on commercially reasonable terms; the future price of gold; the estimation of mineral resources and mineral reserves; conclusions of economic evaluation (including scoping studies); the realization of mineral resource and reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the opinions and estimates of management as of the date such statements are made.  Estimates regarding the anticipated timing, amount and cost of mining at the projects are based on assumptions underlying mineral resource estimates and the realization of such estimates; results of previous mining activities at the projects, and detailed research and analysis completed by independent of the Company; research and estimates regarding the timing of  delivery for long-lead items; knowledge regarding the factors consultants and management involved in building a mine and other factors described in the technical reports and Annual Information Form filed under the profile of the Company on SEDAR.  Capital and operating cost estimates are based on results of previous mining activities, research of the Company and independent consultants, recent estimates of construction and mining costs and other factors that are set out in the scoping study.  Production estimates are based on mine plans and production schedules, which have been developed by the Company’s personnel and independent consultants.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: timing and availability of external financing on acceptable terms;  unexpected events and delays during construction, expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of government approvals; actual results of exploration and mining activities; changes in project parameters as plans continue to be refined; future prices of gold; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Investors are advised that National Instrument NI 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately.  Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be upgraded to proven and probable mineral reserves.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources.  United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms.  “Inferred mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Non-IFRS Measures Crocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance in accordance with the International Financial Reporting Standards.

“Operational Cash Cost per Ounce” is a non-IFRS performance measure which could provide an indication of the mining and processing efficiency at the operations. It is determined by dividing the operating expenses, excluding stock-based compensation allocated to the operating expense and next of silver revenue, by the number of ounces of gold sold. There are variations in the method of computation of “operational cash cost per ounce” as determined by the Company compared with other mining companies. For more detail on the Operational Cash Cost per Ounce determination for Crocodile Gold, please visit www.sedar.com or www.crocgold.com and review the latest Annual Financial Statements issued on March 19, 2014.

2013-14 Milestones

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Q2 ‘13• Unwound gold swap position, significantly reducing debt from $70M to $11M• Divested Tom’s Gully and Mount Bundy to Primary Gold

Q3 ‘13

• Filed Mineral Resource update on Northern Territory Assets • Cosmo Gold Mine transitioned from ramp-up to sustainable producer with 21,300 ounces

produced• Increased production guidance to 200,000 – 205,000 oz from 170,000 – 180,000 oz

Q4 ’13

• Reported Q3 production results with a 14% increase in production over Q2. • Exceeded 2013 guidance with 210,626 ounces produced at an average cash cost of $1,027/oz• Established 2014 production guidance of 200,000 – 210,000 ounces gold at an average cost

between $900 – $950/oz

Q1 ‘14

• Executed three key contracts in the Northern Territory • Reported 2013 Annual Results: $300M in revenue and $67M in operational cash flow• Raised $18M with a private placement financing • Issued for public review, the Environmental Effects Statement for the Big Hill project

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2013 Operational Summary

Crocodile Gold is focused on maintaining sustainable levels of production and managing costs. • 2013 gold production stabilize above 50,000 ounces per quarter —this trend is

continuing into 2014• YTD performance in line with Guidance and Budget

Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14(E) Q3 '14(E) Q4 '14(E) 20,000

25,000

30,000

35,000

40,000

45,000

50,000

55,000

60,000

65,000

48,953 48,261

55,206

58,276

53,583

Oz P

rodu

ced

2014Guidance

Production Level

Generating Positive Cash Flow

Crocodile Gold continues to generate positive operational cash flow.

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Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 $-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$1,664 $1,401 $1,325 $1,273 $1,280

$1,150 $1,101

$924 $963 $971

$1,490$1,603

$1,252 $1,257 $1,307

Average Gold Sale Price Operational Cash Costs All In Sustainable Costs

US

$/O

z

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 $-

$0.01

$0.02

$0.03

$0.04

$0.05

$0.06

$0.04

$0.03

$0.045 $0.05

$0.03

Op

erat

ion

al C

ash

F

low

Per

Sh

are

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Gold Production: Fosterville Gold Mine

Fosterville Processing Facility

2013 HIGHLIGHTS

• Production of ~98,000 ounces gold

• Positive underground delineation program completed and Mineral Resource estimate update issued in 2014

2014 HIGHLIGHTS

• Increased M + I resource estimate by 30%

GOALS FOR 2014

• Complete Capital Development Programs (ventilation) and Tailings

• Increase Underground productivity

• Continue to expand Mineral Reserve and Resource estimates

• Production Guidance: 90,000 -100,000oz

Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14(E)

Q3 '14(E)

Q4 '14(E)

3,000

8,000

13,000

18,000

23,000

28,000

23,556 23,470 25,359 26,039 25,786

24,200 25,700 25,700

Oz P

rodu

ced

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Gold Production: Cosmo Gold Mine

Cosmo Access Portal

2013 HIGHLIGHTS

• Production of ~74,000 ounces gold

• Commercial Production declared and full ramp-up of mine completed

• Sustainable production levels achieved in 2013

GOALS FOR 2014

• Continue cost reduction activities• Increase mine production• Realize ongoing savings with new

mine contractors • Expand mineral resources estimate

through underground drill programs

• Production Guidance: 75,000-85,000oz

Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14(E)

Q3 '14(E)

Q4 '14(E)

-

5,000

10,000

15,000

20,000

25,000

13,169

17,706

21,316 21,915

17,841

20,100 21,800

20,500

Oz P

rodu

ced

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Gold Production:Stawell Gold Mine

Stawell Processing Facility

2013 HIGHLIGHTS

• Production of ~27,000 ounces gold

• Successful underground exploration programs to extend mine life

• Streamlined operations to support reduced manpower and infrastructure levels

GOALS FOR 2014

• Exploring opportunities within the existing mining lease, including the Big Hill Project

• Release positive Feasibility Study for Big Hill

• Receive permit approval for Big Hill project (expected in Q3)

• Production Guidance: 25,000oz

Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14(E)

Q3 '14(E)

Q4 '14(E)

3,000

8,000

13,000 12,228

7,085

8,531

10,322 9,956

7,200

5,300

3,900

Oz P

rodu

ced

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South Gandy’s

Big Hill Pit

Growth Projects: Big Hill Enhanced Development Project

Project Milestones

• The Environmental Effects Statement for the project was issued for Public Review in late March 2014.

• Final recommendations are expected in Q3.

• NI 43-101 compliant Feasibility Study issued in early June with positive economics and 3.0 Mt @ 1.7 g/t Au for 160,000 indicated gold ounces

Stawell Mill

Big Hill Project

Financials Summary Pre-Tax Post Tax

Gold Price* A$1,415 A$1,415

Undiscounted Cash Flow (AUD$)(M)

A$49.2 A$30.3

NPV @ 8% Discount (AUD$)(M)

A$38.5 A$22.6

IRR 125.3% 79.1%

Payback Period (Years) 1.5 1.9

Terms of the Agreement

The AuRico Net Free Cash Flow (NFCF) Sharing Agreement, established through the acquisition of NAVCO assets (Fosterville and Stawell), is as follows:

• First $60M of cumulative NFCF is paid 100% to CRK

• Next $30M of cumulative NFCF is paid 100% to AUQ

• Next $30M of cumulative NFCF is shared 50/50 between CRK and AUQ

Beyond the initial $120M, NFCF is shared 80/20 between CRK and AUQ

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Net Free Cash Flow Agreement

Managing Crocodile Gold’s Net Free Cash Flow:

• Prioritize net free cash flow generation from Cosmo Mine

• Optimize capital investment allocation into the NAVCO assets in light of changing gold price

Given the current operating plan and in light of the existing market conditions, there is no current liability obligation and thus no NFCF payments expected within 12 months.

The Company continues to explore options to manage NFCF under the agreement.

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Managing Net Free Cash Flow

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52 Week Price Performance for ~200,000 Ounce Producers

Source: Bloomberg, Intierra database of Gold Producers 2013

6/4/

2013

6/17

/201

3

6/30

/201

3

7/13

/201

3

7/26

/201

3

8/8/

2013

8/21

/201

3

9/3/

2013

9/16

/201

3

9/29

/201

3

10/1

2/20

13

10/2

5/20

13

11/7

/201

3

11/2

0/20

13

12/3

/201

3

12/1

6/20

13

12/2

9/20

13

1/11

/201

4

1/24

/201

4

2/6/

2014

2/19

/201

4

3/4/

2014

3/17

/201

4

3/30

/201

4

4/12

/201

4

4/25

/201

4

5/8/

2014

5/21

/201

4

6/3/

2014

-100

-50

0

50

100

150

CRK

TSX Index

Alamos

Aurico

Semafo

Teranga

Primero

% C

han

ge

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2014 Outlook

Crocodile Gold is focused on building a strong, sustainable mining company based on core mining principles and value-driven decision making.

This will be accomplished through:

1. Building Confidence in the Geological and Block Modeling

2. Delivering Results from Operations to meet and/or exceed Guidance Levels

3. Implementing Cost Controls for operations and adjusting Capital Expenditures in a changing Metals Market

4. Continuing to review the Divestment of Non-Core Assets of opportunities for Strategic Alliances

5. Advancing Growth Projects such as the Big Hill Project

Questions?

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