Crocodile Gold Corp.

Crocodile Gold Corp.

May 19, 2010 09:10 ET

Crocodile Gold Announces AGM Results

TORONTO, ONTARIO--(Marketwire - May 19, 2010) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(PINK SHEETS:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") today announces the results of its Annual General Meeting held on Tuesday, May 18, 2010 at 11:00 am ET.

The following directors were re-elected: Stan Bharti, Greg Cameron, George Faught, Bruce Humphrey and Mike Hoffman. McGovern, Hurley Cunningham LLP was appointed as auditor of the Company.

Crocodile Gold also announces that Chris Bradbrook has decided to resign as a director of Crocodile Gold, and as such was no longer a nominee for re-election as a director. Mr. Bradbrook has decided to pursue other opportunities.

Mike Hoffman, President and CEO, commented, "Chris has been part of our team since the beginning and has been instrumental in the success of Crocodile Gold to date. He has helped to lay the groundwork going forward as we continue to advance our projects in Australia. We sincerely thank him for his contributions to the Company."

"We would also like to thank our shareholders who voted at the Annual General Meeting, and for those who were able to take the time to attend and meet our management team. We look forward to continuing to update our shareholders on our progress as we approach commercial production."

The Annual General Meeting presentation is posted on Crocodile Gold's website at

About Crocodile Gold

Crocodile Gold is a Canadian company with the Howley and Brocks Creek operating gold mines in the Northern Territory of Australia and a land package of over 2,500km2. Crocodile Gold announced its first gold pour in December 2009 at its Union Reefs mill, started development work at the Tom's Gully underground mine in Q1 2010 and has commenced activities at Cosmo to prepare it for underground development beginning in mid-2010 with full production expected by the second half of 2011. Crocodile Gold has two mills, including the 2.4 mtpy Union Reefs mill and the 240 ktpy Tom's Gully mill. Crocodile Gold has 3.09 million ounces of NI 43-101 compliant measured and indicated resources (42.9 million tonnes at an average grade of 2.3 g/t gold) and 1.94 million ounces of inferred resources (26.7 million tonnes at an average grade of 2.3 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009 and January 25, 2010). The Company has an aggressive exploration program in place and is drilling on several key properties. There are numerous exploration targets that the Company is prioritizing.

Qualified Person

Alfred John Gillman of Odessa Resources Pty Ltd is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and confirmed 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 management's assessment of Crocodile Gold's future plans, operations 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 licenses, 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 which 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, as 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. 

Contact Information

  • Crocodile Gold Corp.
    Michael Hoffman
    President and CEO
    Crocodile Gold Corp.
    Ashleigh Clelland
    Manager, Investor Relations