Crocodile Gold Corp.

Crocodile Gold Corp.

July 13, 2011 07:00 ET

Crocodile Gold to Host Conference Call With Chantal Lavoie, President and CEO

Mr. Lavoie to discuss his recent visit to the Crocodile Gold mine site.

TORONTO, ONTARIO--(Marketwire - July 13, 2011) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") announces that it will host a conference call to have Mr. Lavoie discuss the progress of the Company following his recent trip to Crocodile Gold's properties in the Northern Territory of Australia.

The conference call details are as follows:

Date: Wednesday July 20, 2011
Time: 10:00am (ET)
In Toronto, call: 416-340-2216
In North America, call: +1-866-226-1792
From an international location, call: +1-800-9559-6849

Access to the live webcast will also be available on the Company's website at on the day of the call. As well, the webcast will remain on the website after the call for play-back.

Upon his return from site, Mr. Lavoie commented "I observed a strong and experienced team that has an excellent understanding of the business drivers--establishing good operational practices--to ensure a sustainable and growing business. During my visit, the team fully engaged in a discussion focused on finding ways to ensure the Company's objectives are met. I am impressed by our team's demonstrated resilience in the face of the challenges brought on by the exceptional rain fall early in the year. I am pleased to report that the team is already making plans to address similar issues in the future, should they arise."

During Mr. Lavoie's review of Crocodile Gold's operations, he met with Mr. Bill Nielsen, P. Geo. (Vice President of Exploration) and Mr. David Keough (Chief Operating Officer) to discuss the exploration efforts and operational goals of the Company.

Mr. Nielsen commented: "Crocodile Gold's exploration efforts over the next year will concentrate on increasing reserves and resources in the Cosmo Mine, Maud Creek and Union Reefs areas. Management believes that significant higher grade underground resources can be defined in these high priority areas.

The Company has literally dozens of former producing mines within its tenements leaving no shortage of outstanding exploration targets that the Company can systematically evaluate over the next 3-5 years.

We will also initiate a greenfields exploration program starting with an extensive VTEM airborne survey over areas that have seen little exploration effort in the past. It is believed that this may be the first detailed AEM survey over the region. The objective of this phase of the exploration program is to discover new gold deposits that management believes have the potential to have an economic impact on the Company."

Mr. Keough commented: "The Operating Team is excited about Chantal's vision and direction for the Company. His challenge to the team to ensure that the Cosmo Deeps underground development considers all opportunities to unlock additional long term value is enthusiastically being implemented in a safe and sustainable manner. His clear support to investigate approaches that will eventually lead to underground production delivering above previously indicated sustainable 800,000 tonnes per annum is being incorporated into the current Cosmo Deeps mine plan update. In addition, the Operating Team is working closely with the exploration group on the opportunities presented from the recent exploration successes at Cosmo Deeps (Western Lode extensions) and Union Reefs. These deposits are being investigated for their potential to add to the annual production profile."

On the conference call, Mr. Lavoie will review the following:

  • The exploration activities focused on increasing reserves and resources and 2011 production progress;
  • Progress at the Cosmo Deeps Project: including underground development, production targets and timelines;
  • The operations of the Company: including the strong operations and technical teams and the collaborative efforts of key contractors; and
  • The Company's ongoing commitment to the health and safety of our workers and to the environment.

About Crocodile Gold

Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land position of over 2,700 km2. Crocodile Gold is currently mining from the Howley, Mottrams North Point and Princess Louise open pit mines. 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 3.175 million ounces of National Instrument 43-101 compliant measured and indicated mineral resources (51.85 million tonnes at an average grade of 1.9 g/t gold) and 2.14 million ounces of inferred mineral resources (36.35 million tonnes at an average grade of 1.8 g/t gold). The Company has an exploration program in place with a main focus on the Union Reefs Project and the Cosmo Howley Mineral corridor which covers a strike length of over 25 kilometres and includes other deposits such as Bons Rush and Bridge Creek.

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.
    Chantal Lavoie
    President and CEO

    Crocodile Gold Corp.
    Rob Hopkins
    Manager, Investor Relations