Crocodile Gold Corporate Presentation August 15, 2011
An Evolving Australian Gold Producer AUGUST 2011TSX:CRK OTCQX:CROCFFRANKFURT:XGC
Disclaimer Forward Looking Statements TSX:CRKThis presentation contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statementswith 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; theestimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amountof estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining orprocessing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can beidentified 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 thedate such statements are made. Estimates regarding the anticipated timing, amount and cost of mining at the projects are based on assumptions underlying mineralresource estimates and the realization of such estimates; results of previous mining activities at the projects, and detailed research and analysis completed byindependent of the Company; research and estimates regarding the timing of delivery for long-lead items; knowledge regarding the factors consultants andmanagement involved in building a mine and other factors described in the technical reports and Annual Information Form filed under the profile of the Company onSEDAR. Capital and operating cost estimates are based on results of previous mining activities, research of the Company and independent consultants, recentestimates of construction and mining costs and other factors that are set out in the scoping study. Production estimates are based on mine plans and productionschedules, which have been developed by the Company‟s personnel and independent consultants. Forward-looking statements are subject to known and unknownrisks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different fromthose expressed or implied by such forward-looking statements, including but not limited to risks related to: timing and availability of external financing on acceptableterms; unexpected events and delays during construction, expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of governmentapprovals; 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 hasattempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be otherfactors 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 resultsand future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-lookingstatements. 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 mineralresources 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 MeasuresCrocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and shouldnot 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 isdetermined by dividing the operating expenses, excluding stock-based compensation allocated to the operating expense and next of silver revenue, by the number ofounces of gold sold. There are variations in the method of computation of „cash cost per ounce” as determined by the Company compared with other miningcompanies.Qualified PersonDavid Keough, MAusIMM of Crocodile Gold Australia Operations is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed andconfirmed the technical information and data included in this presentation.Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred ResourcesThe information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms arerecognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred mineralresources” 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 aninferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis offeasibility 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 beconverted 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 economicallyor legally mineable.
Our Assets TSX:CRKProduction Development MillsHowley Trend Cosmo Union Reefs Mill open pit mine underground mine 2.4 mtpy initial ore mined 3rd in operationNorth Point Qtr 2011 open pit mine Tom’s Gully Mill oxide, low strip ratio Pine Creek- 240,000 tpy dry season operation International Care and (May – Nov) open pit mine maintenance Production uponPrincess Louise receipt of permits open pit mine dry season operation (May – Nov) Exploration Potential >2,700 km2 4
Investment Advantage TSX:CRK Expanding production profile, decreasing cash costs Outstanding potential to discover additional resources 3.175 million ounces M&I and 2.14 million ounces Inf. Infrastructure replacement value = $200M (Adjacent to major highway and utilities) 2010 production of 82,000 ounces 2011 production guidance: 77,500 – 82,500 ounces 5
2011 – Growing ProductionThroughout the Year TSX:CRK2011 Key Catalysts Production from Cosmo Initial ore expected 3rd Qtr -2011 Will contribute 50% of ounces at full production (800,000 t.p.a. ore). Production from Pine Creek- International, upon receipt of permits Aggressive exploration program (Brownfields and Greenfields) Increasing % of high grade mill feed throughout the year from Cosmo2011 Guidance 2011 Production 2011 Major 77,500 -82,500 oz Sources Capital Cash Cost Open Pits: Howley, Investments US$1,150-$1,250/oz Princess Louise, Pine Cosmo underground Creek/Union Reefs area Exploration Underground: Cosmo, Brocks Creek 6
Mining Projects – Cost Comparison TSX:CRK Cosmo development provides leverage of Open Pit Open Pit Open Pit Open Pit Underground additional high-grade ore Example Example Example Example leading to significantly Burnside Burnside Burnside Pine Creek Cosmo lower cash costs/oz. Cosmo mining costs are Mining Cost per Tonne $2.50 $2.50 $2.50 $2.50 $44.00 higher than open pits but Strip Ratio 3.0 3.0 6.5 2.5 the ounces per vertical Mining Cost per Tonne meter assist in lower Milled $10.00 $10.00 $18.75 $8.75 $44.00 mining costs for Processing Cost $16.00 $16.00 $16.00 $16.00 $16.00 Ore Haulage $8.25 $8.25 $8.25 $2.50 $8.50 underground. Site General & Cosmo will eventually Administration $3.50 $3.50 $3.50 $3.50 $3.50 make up 40% of mill feed (50% of ounces) which will Total $/Tonne Milled $37.75 $37.75 $46.50 $30.75 $72.00 help lower overall costs Ore Grade 1.30 1.50 1.50 1.30 4.50 and improve overall Recovery 90.0% 90.0% 93.0% 80.0% 92.0% production. Cost per Ounce $1,003 $870 $1,037 $920 $541 Open Pits provide good margin (US$400) to current gold price. 14
Union Reefs & Pine CreekNear Term, Low Cost Production TSX:CRK New targets adjacent to Union Reefs Mill Potential for near term, low cost production Currently prioritizing targets Potential production mid 2011 Pine Creek Indicated Resources increased from 69,600 oz to 288,600 oz 18
Union Reefs TSX:CRK Historical Production/Intercepts: Union Reefs = 800,000 oz Au Pine Creek = 750,000 oz Au Significant potential to increase existing resources Union North: Lady Alice: 3m @ 24.56 g/t Au 5m @ 31.97 g/t Au 3m @ 45.10 g/t Au Prospect Claim: 3m @ 37.50 g/t Au Crosscourse – “Cosmo” scale target: 11m @ 6.60g/t Au 19m @ 10.62 g/t Au 36m @ 4.10 g/t Au 9m @ 24.40 g/t Au 16m @ 6.00 g/t Au 9m @ 4.00 g/t Au 19
Union ReefCrosscourse Deposit TSX:CRK 1.5 g/t Au 4 g/t Au over 30 metres Mineralized Quartz Veins Crosscourse Pit Mineralization (Photo taken in base of pit at Crosscourse in 2003 looking north. Mineralization is estimated to be around 30m wide at a grade of 4g/t plunging to the north at around 60o. Red line is showing high grade zone 20 and orange line is lower grade margin (~1.5g/t).)
Union Reef Development Conceptual Cost Profile TSX:CRK Using previous operating data, Conceptual Conceptual Conceptual existing cost regime, and Underground Underground Underground Underground projected grades, deposits show Cosmo Prospect Prospect Crosscourse excellent potential to deliver low Union Reef Union Reef Union Reef cost ounces to the production profile. Mining Cost per Tonne Number 1 Exploration priority Milled $44.00 $80.00 $80.00 $44.00 High-Grade vein targets Processing Cost $16.00 $16.00 $16.00 $16.00 (Prospect & Lady Alice) Ore Haulage $8.50 $0.00 $0.00 $0.00 Bulk-Ore targets (Crosscourse- “Cosmo Site General & Style”) Administration $3.50 $3.50 $3.50 $3.50 Need to expand resources and complete detailed mining Total $/Tonne Milled $72.00 $99.50 $99.50 $63.50 studies before deposits can be included in any future Ore Grade 4.50 6.00 7.50 4.50 production forecasts. Recovery 92.0% 92.0% 92.0% 92.0% No guarantee that an economic resource will be discovered to Cost per Ounce $541 $561 $448 $477 justify a production decision. 21
Massive Sulfide Deposits TSX:CRK MOUNT BONNIE IRON BLOW Historic Resource* Historic Production 650,000t - 1.7g/t Au, 279g/t Ag = Au eq 9.3g/t or 10,000t oxide @ 9g/t Au and 250g/t Ag = Au eq 194,000oz 15.8g plus 9% Zn, 2% Pb, 0.5% Cu 25,000t sulphide (supergene) @ 7g/t Au and 360g/t Ag = Au eq 17g Oxide Cap previously mined Total production Au eq = 18,747oz 110,000t @ 7g/t Au and 230g/t Ag Current Inferred Resources Au eq = 13.3g/t Au or 47,000oz Au 3,175,000t @ 2.1g/t Au, 101g/t Ag, 3.3% Zn, 0.76% Pb, 0.19% Cu Aeromagnetics- tilt derivative Au eq = 4.85g or 495,000oz (only Au and Ag considered)* “Gold Deposits of the Northern Territory” by Ahmad, Wygralak and Ferenczi, 2009. A qualified person has not done sufficient work to classify this historical estimateas current mineral resources or mineral reserves. Crocodile Gold is not treating the historical estimate as current mineral resources or mineral reserves and the historicalestimate should not be relied upon. Crocodile Gold believes with minimal confirmatory drilling this historic resource information could be included in the Mineral Resourceinventory.
Maud Creek Deposit TSX:CRK Resources* Mined 173,600t @3.32g/t Au – 18,500oz Indicated - 9,288,000t @3.1g/t Au for 935,000oz Inferred - 1,072,000t @2.4g/t Au for 82,000oz using a 1.0g/t Au cut-off Indicated Resource -Greater than 4.5g/t Au – 3.1 Mt @ 6.3 g/t for 628,000oz 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 Significant asset to Crocodile Gold North south trending, good widths, excellent configuration for underground mining*Mineral Reserves are included in Mineral Resources. Mineral Resources that are not Mineral Reserves do not have demonstratedeconomic 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 NationalInstrument 43-101 and has supervised the preparation of the technical information in this presentation. The mineral resource estimate was Cross sectiongenerated 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 umpirelaboratory for QAQC purposes
Regional Exploration Program(Airborne Geophysics Survey Areas) TSX:CRK Bons Rush Mt. Ellison Woolwonga Brocks Creek 3,700 line Km’s Scheduled for Mid June Cosmo Mine Mt. Bonnie Combined AEM and magnetometer survey Geotech VTEM system- state of the art Includes Moline and Maud Creek tenements 25
Undervalued on Equivalent/oz AuComparison TSX:CRK $400 MFL EV/oz Au Producer Average $350 = $US 145/oz $300 KCN Crocodile Gold EV/oz Au (US$/oz) GAM $250 HRG = $US 45/oz TGZ AGI $200 SMF NGD P $150 Average ORA EDV $100 AVMAUQ JAG ARZ OGCGSC RSG CLF $50 NGX CRK RML $0 0 5,000 10,000 15,000 20,000Source: NBF Total Resources (Koz Au)Updated on June 15, 2011 26
Undervalued on Price to Net Asset Value Comparison TSX:CRK 2 1.5 1 0.5x 0.5 0 ORA CRK AGI GSC LSG YRI ANO ELD AEMSource: Raymond James Gold Producers 27Updated as of June 14, 2011
Management & Board TSX:CRKManagement Board of DirectorsChantal Lavoie, P.Eng. Stan Bharti, P.Eng. President and Chief Executive Officer Chairman Chantal Lavoie, P.EngDavid Keough Chief Operating Officer George Faught, CASteve Woodhead Mike Hoffman, P.Eng. Chief Financial Officer Bruce Humphrey, P.Eng.Bill Nielsen, P. Geo Vice President Exploration Peter Tagliamonte, P.Eng.Colinda Parent Vice President Business DevelopmentBrianna Davies Corporate Secretary 28
Capital Structure TSX:CRKShare Structure (at July 31, 2011) Analyst Coverage Cormark SecuritiesTSX:CRK Fraser MackenzieShares Issued & 309,851,311 Raymond JamesOutstanding Union SecuritiesWarrants 69,499,116 CRK Share PriceOptions 19,441,204 $1.80 $1.60Fully Diluted 409,291,631* $1.40 $1.20Market $217 Million $1.00Capitalization $0.80 $0.60(approximately, as of July 31, 2011) $0.40 *Including 2.5 million shares to be issued under the Company Share Compensation Plan $0.20 $0.00 29
Reserve SummaryDecember 31, 2010 TSX:CRK PROBABLE MINERAL RESERVE Gold Grade Ounces Project Deposit Cut-off (g/t) Tonnes (g/t) 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 0.91Note: 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 December31, 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 preparationof 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 30
Resource SummaryDecember 31, 2010 TSX:CRK M+I MINERAL RESOURCE INFERRED MINERAL RESOURCE Gold Grade Gold Grade Project Tonnes Ounces Gold (g/t) Tonnes (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 Lead 1.0g/t Au 3,175,000 7,595 53,163,000 pounds Iron Blow Zinc 1.0g/t Au 3,175,000 32,823 229,750,000 pounds Burnside Silver 1.0g/t Au 3,175,000 101 10,200,000 ounces C Thunderball Uranium 200ppm 316,800 796 556,000 poundsC Crocodile Gold has a 30% free carried interest in this deposit 31
Investor Contact Info TSX:CRKChantal Lavoie www.crocgold.comPresident and CEO Find us firstname.lastname@example.orgInvestor RelationsRob Hopkins416email@example.com Union Reefs MillA Member of the Forbes & Manhattan Group of Companies 32
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