Crocodile Gold October 2011

TSX: CRK OTCQX: CROCF FRANKFURT: XGC

OCTOBER 2011

Accelerating Our Growth and Exploration

TSX:CRK OTCQX: CROCF

Our Investment Advantage

Existing infrastructure (replacement value $200M)

Adjacent to major highway and utilities (natural gas and power lines)

Road, rail and deep sea port in close proximity

Infrastructure

Production 2010 production of 82,000 ounces

2.4M TPA processing facility

Expanding production profile with decreasing cash costs

Exploration

Outstanding potential to discover additional resources

$10-12 million budgeted for exploration efforts in 2011

Extensive exploration project and development pipeline

Assets 3.175 million ounces M&I and 2.14 million ounces Inferred

Over 3,300 km2 land package with proven historical production

Financially well positioned to support exploration and production

Potential Strong management team

Positioned for significant growth in the short and long term

Exploration strength with excellent JV opportunities

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Location & Infrastructure Northern Australia

Total Surface area: 3,300km2

Northern Territory Historical Gold Production:

14.9 million oz. (3 million oz. from Crocodile Gold tenements)

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Our Assets

Production Howley Trend

open pit mines

– Howley & Mottrams

Yam Creek Trend

open pit mine

– Princess Louise

Development Cosmo

underground mine

initial ore mined Q3 2011

Pine Creek Area

open pit mines

– International

– production upon receipt of permits

Brocks Creek

Rising Tide open pit mine

Processing Union Reefs Mill

2.4M TPA

in operation, >94% availability

Tom’s Gully Mill

240,000 TPA

care and maintenance Exploration

Potential >3,300 km2

Exploration Burnside

Pine Creek/Union Reef

Maud Creek

Moline

Mt. Bundy

Base Metals

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Delivering Quality Production Through 2011

2011 Major Capital Investments

Cosmo underground

Union Reefs mill improvements

Exploration

2011 Production Sources

Open Pits: Howley mines, Princess Louise

Underground: Cosmo

2011 Key Catalysts Production from Cosmo

– Initial ore Q3 - 2011

– Will contribute 50% of ounces at full production (800,000 TPA ore)

Aggressive exploration program (brownfields and greenfields)

Increasing % of high grade mill feed throughout the year from Princess Louise & Cosmo

2011 Guidance

77,500 to 82,500 oz

Cash Cost US$1,150 - $1,250/oz

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Short Term – Focus on higher quality ore – Commissioning and Ramp-up of Cosmo underground mine – Optimization of the Burnside area – New production from the Union Reefs and Pine Creek areas

Medium Term – Maximize value of gold assets – Increase production from higher grade deposits – Consolidation of assets – Continued significant investment in Exploration on an annual basis – Expansion of processing capabilities - scenario

Long Term – Explore – Development of Maud Creek Deposit – Generate value out of the base metal deposits, currently 500,000

equivalent AU oz. in resource

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Our Growth Strategy


Production Pipeline

Production Advanced

Exploration Development

Projects Generative Exploration

Pine Creek North

Pine Creek South

Maud Creek

Cosmo Underground

Rising Tide

Greenfields

Burnside

Moline

Maud Creek Extension

Base Metal Potential

Historical Resources

Golden Dyke

The Greeks

Mt Bonnie

Moline

Identified Resources

Union Reefs Underground

Bridge Creek, Western Arm, Bons Rush, Kazi

Iron Blow

Mottrams

North Point

Princess Louise

Cosmo Underground

Reserve Extensions

Cosmo Underground

Yam Creek Trend

Gandys

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Exploration

Strategy Growth through greenfields and brownfields exploration

Exploration Goals Reserves: Replace & Increase reserves from 650,000 oz

to 1M oz.

Resources: Replace & Increase resources from 5M oz to 6M oz

Discover “new” precious metal deposits

Assess the Company’s 3,300km2 land position

2011 Objectives $10 - $12 Million budgeted

Complete 30,000m of diamond drilling, 20,000m of RC drilling

Completed 4,000 line km of VTEM airborne geophysical survey

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Strategic Production Growth Cost Comparison

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Burnside Burnside Cosmo Prospect Crosscourse

$2.50 $2.50 Mining Cost per Tonne $44.00 $80.00 $44.00

3.0 6.5 Strip Ratio N/A N/A N/A

$10.00 $18.75 Mining Cost per Tonne

Milled $44.00 $80.00 $44.00

$16.00 $16.00 Processing Cost $16.00 $16.00 $16.00

$8.25 $8.25 Ore Haulage $8.50 $1.00 $1.00

$5.00 $5.00 Site General & Administration

$5.00 $5.00 $5.00

$39.25 $48.00 Total $/Tonne Milled $73.50 $102 $66

1.30 1.50 Ore Grade g/t Au 4.50 6.00 4.50

90.0% 93.0% Recovery 92.0% 92.0% 92.0%

$1,043 $1,070 Cost per Ounce $552 $575 $496

Open Pit Mines Provide good margin

(>US$500) to current gold price

Lower grade leads to higher cash cost

Underground Mine - Cosmo Provides leverage of additional high-

grade ore leading to significantly lower cash costs/oz.

Will eventually make up 40% of mill feed (50% of ounces) which will:

– Lower overall costs – Improve overall production

Potential for expansion at depth and on West Lodes

Underground Projects Potential Based on existing operating data and projected Cosmo costs Union Reefs UG deposits show excellent potential to deliver

low cost ounces to the production profile. – High-Grade targets (Prospect & Lady Alice) – Bulk-Ore targets (Crosscourse- “Cosmo Style”)

Need to expand resources and complete detailed mining studies before deposits can be included in any future

production forecasts

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Assuming the following:

Continued production from Burnside, new production from UR/Pine Creek Surface & UG

Successful conversion of resources into reserves

Expansion of processing facilities by 2014

Permitting, construction and operation of Maud Creek by 2016

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Our Growth Strategy What could CRK look like?

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Burnside Cosmo UR/Pine Creek Maud Creek Cash Cost/oz.


Capital Structure & Price Comparison

*Including 2.5 million shares to be issued under the Company Share Compensation Plan

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80 Historical Share Price

Analyst Coverage Cormark Securities Frasier Mackenzie Raymond James Union Securities

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Share Structure (At September 31, 2011)

Basic: 310,027,546

Warrants: 69,499,116

Options: 19,441,204

Fully Diluted*: 401,615,366

Market Capitalization: $183 Million

52 Week Trading Range $0.47 – $1.65

Price to Net Asset Value

Valuation at 0.5x net assets Share price trading at a discount

when compared to peers Source: Raymond James Updated as of June 14, 2011

Economic Value/oz Au

EV/oz Au Producer Average = $US 145/oz

Crocodile Gold = $US 45/oz Source: NBF on June 15, 2011

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Price to Net Asset Value Comparison


Management & Board

Chantal Lavoie, P.Eng.

President and Chief Executive Officer

David Keough

Chief Operating Officer

Steve Woodhead

Chief Financial Officer

Bill Nielsen, P. Geo

Vice President Exploration

Colinda Parent

Vice President Business Development

Brianna Davies

Corporate Secretary

Stan Bharti, P.Eng.

Chairman

Chantal Lavoie P.Eng.

George Faught, CA

Mike Hoffman, P.Eng.

Bruce Humphrey, P.Eng.

Peter Tagliamonte, P.Eng.

Management Board of Directors

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Our Investment Advantage

Existing Infrastructure (replacement value $200M)

Adjacent to major highway and utilities (natural gas and power lines)

Road, Rail and Deep Sea Port in close proximity

Infrastructure

Production 2010 production of 82,000 ounces

2.4M TPA processing facility

Expanding production profile with decreasing cash costs

Exploration

Outstanding potential to discover additional resources

$10-12 million budgeted for exploration efforts in 2011

Extensive exploration project and development pipeline

Assets 3.175 million ounces M&I and 2.14 million ounces Inferred

Over 3,300 km2 land package with proven historical production

Financially well positioned to support exploration and production

Potential Strong Management Team

Positioned for significant growth in the short and long term

Exploration strength with excellent JV opportunities

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Investor Contact Information

Chantal Lavoie President and CEO 416-861-2964 [email protected]

www.crocgold.com Find us on

A Member of the Forbes & Manhattan Group of Companies

Investor Relations Rob Hopkins 416-861-5899 [email protected]

TSX: CRK OTCQX: CROCF FRANKFURT: XGC

Crocodile Gold Corporation

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Additional Information


Reserve Summary December 31, 2010

Note: Mineral Reserves are included in Mineral Resources. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Depleted for mining as at December 31, 2010 and does not include any depletion for mining since such date. The Mineral Reserve estimate was reviewed and optimized by Mark Edwards who is a “qualified person” as such term is defined in National Instrument 43-101 and has supervised the preparation of the technical information and data included in this news release. The mineral resource estimate was generated using the following parameters: • Models used have been reviewed and optimized by Mark Edwards and Fleur Muller • Model technique is Ordinary Kriging, Multiple Indicator Kriging or Inverse Distance (review NI43-101 for more details) • Mineralization wireframes conducted on 0.4-2g/t material with a minimum width of 1-2m depending on deposit and mineralization styles • High grade top cut used of 2-40g/t depending on statistical review of sample results • 1m metre samples with core half core or split RC samples used in models • Samples were generally submitted to NAL and analyzed using 50g fire assay with AAS finish, some samples were submitted to umpire laboratory for QAQC purposes

PROBABLE MINERAL RESERVE

Project Deposit Cut-off (g/t) Tonnes Gold Grade

(g/t) Ounces

Gold

Burnside Brocks Creek 7.1 34,000 8.6 9,300

Cosmo Deeps 3.1 3,100,000 4.2 420,000

Howley 1.0 340,000 1.6 18,000

North Point 1.0 55,000 2.3 4,000

Princess Louise 1.0 200,000 1.5 9,700

Mottrams 1.0 980,000 1.2 39,000

Pine Creek Kohinoor 1.0 290,000 1.9 18,000

Cox 1.0 500,000 1.6 26,000

International 1.0 1,300,000 1.5 65,000

Gandys 1.0 480,000 1.7 26,000

South Enterprise 1.0 420,000 2.0 27,000

TOTAL 7,699,000 2.7 662,000 Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability

Gold Price: $US1000/oz

$A:$US 0.91

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Resource Summary December 31, 2010

M+I MINERAL RESOURCE INFERRED MINERAL RESOURCE

Project Tonnes Gold Grade (g/t) Ounces Gold Tonnes Gold Grade (g/t) Ounces Gold

Mt Bundy*A 20,241,000 1.0 664,800 10,513,000 1.0 350,800

Burnside* 16,553,330 2.4 1,268,500 18,679,800 2.2 1,323,200

Union Reefs 239,000 2.4 18,200 3,740,000 1.7 204,200

Pine Creek 5,528,000 1.6 288,600 2,347,000 2.4 183,200

Maud Creek* 9,288,000 3.1 935,000 1,072,000 2.4 82,000

Total 51,849,330 1.9 3,175,100 36,351,800 1.8 2,143,400 *Includes Underground Resources A Crocodile Gold holes 80% interest in the Rustlers Roost deposit which is included in this Project

Please Note: Mineral Resources include Mineral Reserves. 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. Calculated at a gold price of US$1,000>/oz and exchange rate of $A0.91:US$1.00 ) and contained within optimizing pit shells using current operating costs

MINERAL RESOURCE STATEMENT (Other Commodities)

INFERRED MINERAL RESOURCE

Project Deposit Commodity Cut-off Tonnes Grade (ppm) Contained metal

Burnside Iron Blow

Lead 1.0g/t Au 3,175,000 7,595 53,163,000 pounds

Zinc 1.0g/t Au 3,175,000 32,823 229,750,000 pounds

Silver 1.0g/t Au 3,175,000 101 10,200,000 ounces

ThunderballC Uranium 200ppm 316,800 796 556,000 pounds

C Crocodile Gold has a 30% free carried interest in this deposit

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Our Assets Burnside – Howley Trend

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Burnside - Howley Trend 2011/12 Production - Open Pit

Mottrams Pit – Looking West

Howley Pit and Ore ROM Pad

Howley Pit Successfully completed mining in Q2

2011

Possible extension – West Howley being investigated

Mottrams Pit Initiated production in Q2 2011,

transitioning from Howley pit

Main open pit feed for remainder of 2011

Optimizing the operations Increasing equipment fleet in H2 2011

Current plan is to have >400,000t of stockpile material in place prior to the next wet season.

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Burnside – New Production 2011/12 Production - Open Pit

Princess Louise Open Pit

Rising Tide Open Pit

Princess Louise Pit Initiated production in Q3 of 2011

Will contribute to improving open pit mine grade for the remainder of 2011 and going into 2012

North Point Pit Production scheduled for 2012

Rising Tide Pit Production schedule for 2012, possibly earlier

Main open pit feed for 2012

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Cosmo Pit Dewatering On schedule for completion in Q3

2011

By October 2011, a total of 5.7 Glitres of water will have been pumped out.

Once dewatering is complete, underground production will begin

Way forward Surge capacity & Infrastructure in

place to address the upcoming wet season.

Burnside – Howley Trend Cosmo Dewatering Progress

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Burnside – Howley Trend Development - Cosmo

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Underground Mine Target production of

800,000 TPA

Initial ore Q3, 2011

Ramp-up to full production in 2012

East Lodes - Reserves & Resources Main focus of initial

production

Expansion potential at depth


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Burnside - Howley Trend Development - Cosmo

West Lodes - Resources

• Significant potential for expansion

• Present development plan limited to near surface portion

• Infrastructure design to handle future development


Burnside - Howley Trend Cosmo Underground Development

Western Lodes

3D Isometric View & Composite Development Plan

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Pine Creek/Union Reefs New Production - 2012

Improving the cost profile Production close to Union Reefs mill with minimum

transport cost

Potential for both surface and underground mines, higher grade ore

Pine Creek – International Open Pit In the permitting process

Potential to add to 2012 production profile.

Union Reefs – Underground Ore Bodies Located on granted mining lease and ability to bring in

to production very quickly

Next to the process plant so essentially no trucking costs

Several high grade intersections over 3 distinct ore bodies (Prospect, Lady Alice, Crosscourse)

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11m @ 6.60g/t Au 36m @ 4.10 g/t Au 16m @ 6.00 g/t Au

19m @ 10.62 g/t Au 9m @ 24.40 g/t Au 9m @ 4.00 g/t Au 8m @ 10.16 g/t Au

Crosscourse – “Cosmo” scale target:

5m @ 31.97 g/t Au 3m @ 45.10 g/t Au

Lady Alice:

3m @ 24.56 g/t Au

Union North:

3m @ 37.50 g/t Au 4m @ 27.00 g/t Au

Prospect Claim:

Historical Production/Intercepts:

Union Reefs = 800,000 oz Au

Pine Creek = 750,000 oz Au

Significant potential to increase existing resources

Pine Creek/Union Reefs Potential High Grade Deposits

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Exploration Regional Program

Airborne Geophysics More than 4,000 line km’s completed of

AEM and magnetometer survey

Geotech VTEM system- state of the art

Includes Moline and Maud Creek tenements

Ground follow-up of individual targets underway

Review of historical information

Major database compilation in progress of all past work including government files

Will ultimately be able to access and manipulate all past geochemical and geophysical surveys. Tens of thousands of geochemical sample results available.

It is anticipated that thousands of past drill holes with assays and logs will be found and incorporated into the database

Acquired high resolution satellite imagery for all areas

Airborne Geophysical Survey Areas 27


Exploration Three Key Areas

Burnside

Union Reefs-

Pine Creek

Maud Creek

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Exploration Burnside Area

Reserves & Resources • 1.2M oz of Measured &

Indicated

• 1.3M oz of Inferred

Howley Trend: a 25 km long structure with

additional deposits of interest

Includes Cosmo Underground and Howley Open Pits

Eastern Side Similar trend with known

deposits – past production

Presence of base metal deposits with significant precious metal content

Cosmo look-a-likes

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Reserves & Resources • 306,800 oz of Measured &

Indicated

• 387,400 oz of Inferred

Potential New targets adjacent to Union

Reefs Mill

Potential for near term, low cost production

2011 focus on shallow and near surface deposits

Exploration Union Reefs/Pine Creek area

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Exploration – Strategic Assets Gold Deposits - Maud Creek

Previously Mined 173,600t @3.32g/t Au for 18,500oz

Resources Indicated - 9,288,000t @ 3.1g/t Au for

935,000oz

Greater than 4.5g/t Au – 3.1 Mt @ 6.3 g/t for 628,000oz

Inferred - 1,072,000t @2.4g/t Au for 82,000oz (using a 1.0g/t Au cut-off)

Future Development Partially refractory – metallurgical testing

indicates 90-95% recovery by flotation with concentrates grading 6 opt.

Near the town of Katherine – 8km haul road to paved highway

Significantly expanded land position

North south trending, good widths, excellent configuration for underground mining

Typical Section Maud Creek Deposit

Maud Creek Optimized Pit Shell

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Exploration Other Key Strategic Assets

Massive Sulphide Deposits Iron Blow

Mount Bonnie

Gold Deposits Mt. Bundy

Moline

Uranium Deposits

Thunderball

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Exploration – Strategic Assets Massive Sulfide Deposits

Aeromagnetics- tilt derivative

Iron Blow

* “Gold Deposits of the Northern Territory” by Ahmad, Wygralak and Ferenczi, 2009. A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. Crocodile Gold is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. Crocodile Gold believes with minimal confirmatory drilling this historic resource information could be included in the Mineral Resource inventory.

Historic Production

10,000t oxide @ 9g/t Au and 250g/t Ag = Au eq 15.8g

25,000t sulphide (supergene) @ 7g/t Au and 360g/t Ag = Au eq 17g

Total production Au eq = 18,747oz

Current Inferred Resources

3,175,000t @ 2.1g/t Au, 101g/t Ag, 3.3% Zn, 0.76% Pb, 0.19% Cu

Au eq = 4.85g or 495,000oz (only Au and Ag considered)

Mount Bonnie Historic Resource*

650,000t - 1.7g/t Au, 279g/t Ag = Au eq 9.3g/t or 194,000oz

plus 9% Zn, 2% Pb, 0.5% Cu

Oxide Cap previously mined

110,000t @ 7g/t Au and 230g/t Ag

Au eq = 13.3g/t Au or 47,000oz Au

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Exploration Mount Bundy Area

Reserves & Resources 664,800 oz of M&I

350,800 oz of Inferred

Infrastructure: Tom’s Gully mill, presently on

Care & Maintenance

Deposits Tom’s Gully

Mt Bundy (Rustler’s Roost)

Quest 29

Way Forward Evaluating possible divestment

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Forward Looking Statements

This presentation contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are 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; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource 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 statements 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 statements are 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 statements are 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 statements, 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 statements, 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 statements. The Company does not undertake to update any forward-looking statements 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.

Non-GAAP 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.

“Cash Cost per Ounce” is a non-GAAP 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 „cash cost per ounce” as determined by the Company compared with other mining companies.

Qualified Person

David Keough, MAusIMM of Crocodile Gold Australia Operations 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 presentation.

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.

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Crocodile Gold October 2011

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Transcript of Crocodile Gold October 2011