Crocodile Gold Corp.
TSX : CRK
OTCQX : CROCF
FRANKFURT : XGC

Crocodile Gold Corp.

April 25, 2011 08:00 ET

Crocodile Gold Announces Appointment of Colinda Parent as Vice President, Business Development

Crocodile Gold Raises Additional C$729,000 on Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - April 25, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") is pleased to announce that Ms. Colinda Parent has been appointed Vice President, Business Development of the Company.

Colinda Parent has extensive capital markets experience having spent over 15 years in institutional equity sales and 5 years in investment banking in Toronto. Previously, Ms. Parent was one of the founders of Sandfire Securities, a Toronto-based institutional equity boutique focused on raising funds for and trading stocks in small and mid-cap Canadian-listed resource companies. She also served on the Board and Executive Committee at Sandfire. Ms. Parent is a CFA charter holder and has an MBA from the Ivey School of Business.

Crocodile Gold is also pleased to announce that in connection with the bought deal offering which closed on March 24, 2011, the underwriters have exercised the over-allotment option. As a result, the Company has issued 6,075,000 additional common share purchase warrants (the "Additional Warrants") for aggregate gross proceeds of C$729,000. Each Additional Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of C$2.25 until March 24, 2016.

The Additional Warrants are listed and trade on the Toronto Stock Exchange under the symbol "CRK.WT".

GMP Securities L.P. and Cormark Securities Inc. co-led the syndicate, which included Raymond James Ltd., Macquarie Capital Markets Canada Ltd., TD Securities Inc., Fraser Mackenzie Limited, NCP Northland Capital Partners Inc., and Union Securities Ltd.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Crocodile Gold

Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,700 km2. Crocodile Gold is currently mining from the Howley and the Brocks Creek underground mine with production to shortly begin at the Princess Louise open pit mine. The Company is currently developing the Cosmo underground mine. Ore is currently processed at the 2.4 million tonne per year Union Reefs Mill. Crocodile Gold has 3.4 million ounces of NI 43-101 compliant measured and indicated resources (52 million tonnes at an average grade of 2.0 g/t gold) and 2.1 million ounces of inferred resources (35 million tonnes at an average grade of 1.9 g/t gold) (see the Amended Annual Information Form dated November 5, 2010 and Crocodile Gold press releases dated September 8, 2009, January 25, 2010, October 14, 2010 and December 2, 2010).

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 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, including management's assessment of Crocodile Gold's targeted production, future plans, operations, weather forecasts 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 those risks described in the annual information form of the Company. 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.

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