Crocodile Gold (fka CROCF)

[Tommy]

$CROCF - Crocodile Gold Obtains Approval to Proceed at Its International Mine

http://www.crocgold.com/News/News-Releases/News-Release-Details/2012/Crocodile-Gold-Obtains-Approval-to-Proceed-at-Its-International-Mine1131359/default.aspx

... "Over the course of the next 3 months, the Company plans to:

Update and resubmit its Mine Management Plan to the Department of Mines and Energy
Complete the detailed mine design,
Seek competitive bids and secure contractual services for the execution of the mining activities,
Update its financial model,
Finalize its 2013 operational budget and seek approval by the Board of Directors." ...

... "At its Northern Territory properties, Crocodile Gold has 3.175 million ounces of NI 43-101 compliant Measured and Indicated mineral resources and 2.14 million ounces of Inferred mineral resources (see the NI 43-101 compliant technical report entitled "Report on the Mineral Resources and Mineral Reserves of the northern Territory Gold and Base Metals Properties for Crocodile Gold Corp." by Fleur Muller, Mark Edwards and Heath Gerritsen dated April 4, 2011, filed under the Company's profile on SEDAR for the details regarding these mineral resource estimates).

At its Stawell Mine, the Company has 0.292 million ounces of NI 43-101 complaint Indicated resources and 0.145 million ounces of Inferred mineral resources (see the NI 43-101 compliant technical report entitled "NI 43-101 Technical Report, Stawell Gold Mine, Victoria, Australia" prepared for Crocodile Gold Corp by James P Llorca of Mining Plus, and Neil Schunk of CP Mining.

At its Fosterville Mine Crocodile Gold has 0.924 million ounces of NI 43-101 compliant Measured and Indicated resources and 0.477 million ounces of Inferred mineral resources (see the NI 43-101 compliant technical report entitled "NI 43-101 Technical Report Fosterville Gold Mine, Victoria, Australia" prepared for Crocodile Gold Corp. by James P. Llorca of Mining Plus and Neil Schunke of CP Mining dated April 9, 2012, filed under the Company's profile on SEDAR for the details regarding these mineral resource estimates).

Crocodile Gold has an extensive exploration program in place in the Northern Territory and is exploring on several key properties on its expansive land package. Crocodile Gold's main focus is on the Cosmo Mine, and the Union Reefs and Maud Creek project areas. In the State of Victoria, the Company has exploration programs in place designed to expand the resource base of each mine property. For additional information, please visit our website www.crocgold.com. Follow us on Twitter (@crocgold_crk) or Facebook (www.facebook.com/CrocodileGoldCorp)." ...