8th Annual Mining the Territory Conference – August 2014
TSX : CRK
Forward Looking Information
2
This presentation contains forward-looking information under Canadian securities legislation...
3
Operations and Projects
Victoria Operations
Main Northern Territory Focus
• Cosmo Deeps Mine
• Union Reefs (Esmeralda)
•...
Investment Highlights
4
GROWING GOLD
PRODUCTION
GENERATING CASH
FLOW
GROWTH
POTENTIAL
• Total Operating cash flow generate...
2013-14 Milestones
5
Q2 ‘13
• Unwound gold swap position, significantly reducing debt from $70M to $11M
• Divested Tom’s G...
Mineral Resources and Reserves *
(NI43-101 Compliant)
6
Tonnes Au Grade Au
(Mt) (g/t) (koz)
Proven & Probable Reserves (47...
7
2013-14 Operational Summary
Crocodile Gold is focused on maintaining sustainable levels of
production and managing costs...
Generating Positive Cash Flow
Crocodile Gold continues to generate positive operational cash flow.
8
$0.04
$0.03
$0.05
$0....
9
Gold Production:
Fosterville Gold Mine
Fosterville Processing Facility
2013 HIGHLIGHTS
• Production of ~98,000 ounces go...
10
Gold Production:
Stawell Gold Mine
Stawell Processing Facility
2013 HIGHLIGHTS
• Production of ~37,000 ounces gold
• Su...
11
South
Gandy’s
Big Hill Pit
Growth Projects:
Big Hill Enhanced Development Project
Project Milestones
• The Environmenta...
12
Gold Production:
Cosmo Gold Mine
Cosmo Access Portal
2013 HIGHLIGHTS
• Production of ~74,000 oz gold
• Commercial Produ...
13
During early 2014 Crocodile Gold executed three key contracts for the
Northern Territory Operations:
Underground Mining...
14
In May 2014 Crocodile Gold announced a Mineral Resource and Reserve
update for the Cosmo Project:
Mineral Resources – R...
15
The Cosmo Deeps Project is the core
mining project for Crocodile Gold in the
Northern Territory. In early 2014 approval...
16
The Esmeralda Project is located ~7 km south of the
Union Reefs processing plant and is a potential
source of oxide ore...
17
South
Gandy’s
Growth Projects:
Bon’s Rush
Project Plan
• Focused geological mapping around
Bon’s Rush to supplement exi...
18
In 2013 Crocodile Gold announced a
Mineral Resource and Reserve update for
the Maud Creek deposit near Katherine.
Indic...
19
During the past few years Crocodile Gold has begun the process of rehabilitating current mining
and legacy sites held b...
20
Strategic Projects:
Non-Core Asset Divestment
Non-Core Asset Divestment
Crocodile Gold continues to look for opportunit...
Recently Completed Divestment:
Asset Sale and Farm-In JV Agreement with Phoenix Copper Limited
 Crocodile Gold entered in...
Asset Sale and Farm-In JV Agreement with Phoenix Copper Limited
22
Strategic Projects:
Non-Core Asset Divestment - Continu...
 Two Operational Mine Sites – Cosmo & Union Reefs
 Sustainable production levels achieved at Cosmo in 2013, with Product...
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Simon Hitchman - Crocodile Gold Corp - Crocodile Gold’s operations and project developments

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Simon Hitchman delivered the presentation at the 2014 Mining the Territory Conference.

With record year on year investment in mining developments and exploration in the Northern Territory, the 8th Annual Mining the Territory Conference is perfectly placed to hear latest information on this booming region.

For more information about the event, please visit: http://bit.ly/MiningtheNT2014

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Simon Hitchman - Crocodile Gold Corp - Crocodile Gold’s operations and project developments

  1. 1. 8th Annual Mining the Territory Conference – August 2014 TSX : CRK
  2. 2. Forward Looking Information 2 This presentation contains forward-looking information under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential and timetable of the projects; the Company’s ability to raise additional funds as necessary or on commercially reasonable terms; the future price of gold; the estimation of mineral resources and mineral reserves; conclusions of economic evaluation (including scoping studies); the realization of mineral resource and reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified 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 information is based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated timing, amount and cost of mining at the projects are based on assumptions underlying mineral resource estimates and the realization of such estimates; results of previous mining activities at the projects, and detailed research and analysis completed by independent of the Company; research and estimates regarding the timing of delivery for long-lead items; knowledge regarding the factors consultants and management involved in building a mine and other factors described in the technical reports and Annual Information Form filed under the profile of the Company on SEDAR. Capital and operating cost estimates are based on results of previous mining activities, research of the Company and independent consultants, recent estimates of construction and mining costs and other factors that are set out in the scoping study. Production estimates are based on mine plans and production schedules, which have been developed by the Company’s personnel and independent consultants. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: timing and availability of external financing on acceptable terms; unexpected events and delays during construction, expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of government approvals; 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 has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors 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 results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information 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 mineral resources 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. Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred mineral resources” 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 an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility 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 be converted 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 economically or legally mineable. Non-IFRS Measures Crocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance in accordance with the International Financial Reporting Standards. “Operational Cash Cost per Ounce” is a non-IFRS performance measure which could provide an indication of the mining and processing efficiency at the operations. It is determined by dividing the operating expenses, excluding stock-based compensation allocated to the operating expense and next of silver revenue, by the number of ounces of gold sold. There are variations in the method of computation of “operational cash cost per ounce” as determined by the Company compared with other mining companies. For more detail on the Operational Cash Cost per Ounce determination for Crocodile Gold, please visit www.sedar.com or www.crocgold.com and review the latest Annual Financial Statements issued on March 19, 2013. Note for Pages 6, 9, 10, 12, 16-18: For information regarding mineral resource and reserve estimates, including parameters used to generate the estimates and depletion, please see the technical reports titled: NI43-101 TECHNICAL REPORT FOSTERVILLE GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated May 27th, 2014; NI43-101 TECHNICAL REPORT STAWELL GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated April 9th, 2012. For the Northern Territory Mineral Reserve Estimates please refer to the technical reports titled: REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE COSMO DEEPS GOLD PROJECT dated May 27, 2014; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE UNION REEFS GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE PINE CREEK GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE MAUD CREEK GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE BURNSIDE GOLD AND BASE METAL PROJECT dated December 12, 2013. Notes for Page 11: The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized
  3. 3. 3 Operations and Projects Victoria Operations Main Northern Territory Focus • Cosmo Deeps Mine • Union Reefs (Esmeralda) • Maud Creek • Bon’s Rush
  4. 4. Investment Highlights 4 GROWING GOLD PRODUCTION GENERATING CASH FLOW GROWTH POTENTIAL • Total Operating cash flow generated in 2013 exceeded $67 million • Operating cash flow generated in Q2 2014 exceeded $18 million • Operational Cash Costs for Q2 2014 decreased to $965/ oz compared to $1,102/oz in 2013 • All-In Sustaining Cash Costs for Q2 2014 decreased to $1,316/oz compared to $1,603/oz in Q2 2013 • Total Production for 2013 was 210,000 oz, up from 155,000 oz in 2012 • Gold Production for Q2 2014 was 54,024 oz; on track for 2014 production guidance of 200-210,000 oz DECREASING COSTS • Current focus is on underground resource definition to extend mine life at all projects • Further exploration will be based on the value added by the project All within Australia SIZABLE RESOURCES • Proven and Probable Reserves: 0.93 million oz • M+I Resources: 4.8 million oz • Inferred Resources: 2.5 million oz Crocodile Gold is a Canadian gold mining company with operating mines in the NT and the state of Victoria.
  5. 5. 2013-14 Milestones 5 Q2 ‘13 • Unwound gold swap position, significantly reducing debt from $70M to $11M • Divested Tom’s Gully and Mount Bundy to Primary Gold Q3 ‘13 • Filed Mineral Resource update on Northern Territory Assets • Cosmo Gold Mine transitioned from ramp-up to sustainable producer with 21,300 oz produced • Increased production guidance to 200,000 – 205,000 oz from 170,000 – 180,000 oz Q4 ‘13 • Reported Q3 production results with a 14% increase in production over Q2 • Exceeded 2013 guidance with 210,626 oz produced at an average cash cost of $1,027/oz • Established 2014 production guidance of 200,000 – 210,000 oz gold at an average cash cost between $900 – $950/oz Q1 ‘14 • Executed three key contracts in the Northern Territory • Reported 2013 Annual Results: $300M in revenue and $67M in operational cash flow • Raised $18M with a private placement financing • Issued for public review, the Environmental Effects Statement for the Big Hill project
  6. 6. Mineral Resources and Reserves * (NI43-101 Compliant) 6 Tonnes Au Grade Au (Mt) (g/t) (koz) Proven & Probable Reserves (479 koz or 52% oz in NT) Cosmo 1.5 3.79 180 Fosterville 1.8 6.01 342 Pine Creek 1.3 1.55 62 Stawell 1.0 3.40 107 Burnside 0.2 1.93 10 Union Reefs 0.3 4.40 42 Maud Creek 1.0 5.40 185 Reserves 7.0 4.10 928 Measured and Indicated Resources (incl. of Reserves) (1,94 Moz or 41% oz in NT) Cosmo 4.5 3.43 500 Fosterville 16.6 3.87 2,069 Pine Creek 8.4 1.40 380 Stawell 4.7 2.60 399 Burnside 7.6 1.40 336 Union Reefs 3.0 2.40 236 Maud Creek 7.7 3.50 871 Measured & Indicated Resources 52.6 2.83 4,791 Inferred Resources (1.55 Moz or 63% oz in NT) Cosmo 1.1 2.94 109 Fosterville 6.4 3.78 777 Pine Creek 2.5 2.30 191 Stawell 1.0 4.70 145 Burnside 11.8 1.60 602 Union Reefs 4.3 2.20 305 Maud Creek 4.2 2.50 344 Inferred Resources 31.3 2.45 2,473 *Please refer to cautionary language on page 2 of this presentation Reserves for Crocodile Gold’s projects total approximately 0.93 million ounces Crocodile Gold maintains significant: Measured and Indicated Resources of 4.8 million ounces and Inferred Resources of 2.5 million ounces
  7. 7. 7 2013-14 Operational Summary Crocodile Gold is focused on maintaining sustainable levels of production and managing costs. 2014 Production: 200,000 - 210,000 oz 2014 Operating Cash Cost: USD$900-$950/ oz $1,150 $1,101 $924 $967 $971 $965 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 CASHCOSTS(US$/oz) GOLDPRODUCTION(oz) NT FGM SGM Operational Cash Costs
  8. 8. Generating Positive Cash Flow Crocodile Gold continues to generate positive operational cash flow. 8 $0.04 $0.03 $0.05 $0.05 $0.03 $0.04 $- $0.01 $0.02 $0.03 $0.04 $0.05 $0.06 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 OperationalCash FlowPerShare $1,664 $1,401 $1,325 $1,273 $1,280 $1,291 $1,150 $1,101 $924 $967 $971 $965 $1,490 $1,603 $1,252 $1,257 $1,307 $1,316 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 US$/oz Average Gold Sale Price Operational Cash Costs All In Sustainable Costs
  9. 9. 9 Gold Production: Fosterville Gold Mine Fosterville Processing Facility 2013 HIGHLIGHTS • Production of ~98,000 ounces gold • Positive underground drilling program completed with gold mineralisation open down plunge. 2014 HIGHLIGHTS • Increased M + I Resource estimate by 30% GOALS FOR 2014 • Complete Capital Development Programs (ventilation and tailings) • Increase underground productivity • Continue to expand Mineral Reserves and Mineral Resources • Production Guidance: 95,000 - 100,000oz 23,556 23,470 25,359 26,039 25,786 22,198 25,700 25,700 3,000 8,000 13,000 18,000 23,000 28,000 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14(E) Q4 '14(E) OzProduced
  10. 10. 10 Gold Production: Stawell Gold Mine Stawell Processing Facility 2013 HIGHLIGHTS • Production of ~37,000 ounces gold • Successful underground exploration programs to extend mine life • Streamlined operations to support reduced manpower and infrastructure levels GOALS FOR 2014 • Exploring opportunities within the existing mining lease, including the Big Hill Project • Release positive Feasibility Study for Big Hill • Receive permit approval for Big Hill project (expected in Q3) • Production Guidance: ~30,000oz 12,228 7,085 8,531 10,322 9,956 9,981 5,300 3,900 3,000 8,000 13,000 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14(E) Q4 '14(E) OzProduced
  11. 11. 11 South Gandy’s Big Hill Pit Growth Projects: Big Hill Enhanced Development Project Project Milestones • The Environmental Effects Statement for the project was issued for Public Review in late March 2014. Final recommendations are expected in Q3 2014. • NI 43-101 compliant Feasibility Study issued in early June with positive economics and 3.0 Mt @ 1.7 g/t Au for 160,000 Indicated gold ounces Stawell Mill Big Hill Project Financials Summary Pre-Tax Post Tax Gold Price* A$1,415 A$1,415 Undiscounted Cash Flow (AUD$)(M) A$49.2 A$30.3 NPV @ 8% Discount (AUD$)(M) A$38.5 A$22.6 IRR 125.3% 79.1% Payback Period (Years) 1.5 1.9
  12. 12. 12 Gold Production: Cosmo Gold Mine Cosmo Access Portal 2013 HIGHLIGHTS • Production of ~74,000 oz gold • Commercial Production declared and full ramp-up of mine completed • Sustainable production levels achieved in 2013 GOALS FOR 2014 • Continue cost reduction activities • Increase mine production • Realize ongoing savings with new mine contractors • Expand Mineral Resource estimate through underground drill programs • Production Guidance: 75,000- 80,000oz 13,169 17,706 21,316 21,915 17,841 21,845 21,800 20,500 3,000 8,000 13,000 18,000 23,000 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14(E) Q4 '14(E) OzProduced
  13. 13. 13 During early 2014 Crocodile Gold executed three key contracts for the Northern Territory Operations: Underground Mining Contract – Awarded to Downer EDI Pty Ltd for a period of two years with the option to extend for a third year. Downer EDI mobilized to site in March this year and assisted with minimal disruption to operations. Diamond Drilling Contract – Awarded to Boart Longyear for a period of two years to support the underground drilling necessary for mine planning and resource development. Some deeper exploration drilling will also be completed in the coming 12 months Power Supply Contract – Crocodile Gold negotiated a new electrical power supply contract with the Power and Water Corporation which will cover a term of one year. NT Contract Changes
  14. 14. 14 In May 2014 Crocodile Gold announced a Mineral Resource and Reserve update for the Cosmo Project: Mineral Resources – Resource Definition drilling in 2013 allowed an increase of 4% in Measured and Indicated Mineral Resources to 4.5Mt @ 3.43g/t for 500,000 ounces Mineral Reserves – Proven and Probable Mineral Reserves decreased by 24% since the 1st June 2013 Reserve statement Current drilling programs are designed to target Reserve growth in 2014. Cosmo Resource & Reserve Update
  15. 15. 15 The Cosmo Deeps Project is the core mining project for Crocodile Gold in the Northern Territory. In early 2014 approval was granted for deeper drilling project South Gandy’s Description Unit Amount Drill Holes No. 12 Drill Metres (approx.) metres 5,000 Start Q2, 2014 Finish Q1, 2015 Growth Projects: Cosmo Deeps Drilling Project Plan • Drill diamond holes into down-plunge extensions of the Cosmo deposit • Build Mineral Resource and Reserve base close to existing infrastructure • Two phase program, phase-1 outlined above, phase-2 on success of phase 1 Milestones • Drilling for this project commenced with new contractor arriving with 3rd diamond rig in April, 2014 • Drilling to be completed in conjunction with drilling required for production Exploration Potential NorthSouth 1,000mRL 800mRL 600mRL 400mRL 1,500mN 2,000mN 500m Mined Pit Hangingwall Footwall Mined Stope Reserve Mined Development Design LEGEND Resource Grade Shells in Brown
  16. 16. 16 The Esmeralda Project is located ~7 km south of the Union Reefs processing plant and is a potential source of oxide ore close to operations. Current Inferred Mineral Resource of 1.1Mt @ 2.06 g/t Au for 70,000 ounces of gold South Gandy’s Growth Projects: Esmeralda Project Plan • Geological Mapping around the deposit to identify expansion targets • Two stage drilling program to focus on expanding and upgrading current inferred Mineral Resources Milestones • Geological Field Mapping is complete, with maps and reporting being finalised • Drill planning and approval to be completed in Q3, 2014.
  17. 17. 17 South Gandy’s Growth Projects: Bon’s Rush Project Plan • Focused geological mapping around Bon’s Rush to supplement existing mapping - Use with airborne EM and magnetic data to identify potential areas for expanding Mineral Resources. • Review of historic drilling and sampling to identify potential targets Milestones • Field mapping completed around Bon’s Rush showed extensive folding and indicators for mineralisation • Mapping is being collated for reporting. Bon’s Rush, within the Burnside Project, is located 25 km north of the Cosmo Mine on an active Mineral Lease. Current Inferred Mineral Resource of 805 kt @ 2.33 g/t Au for 60 koz gold. Potential to expand.
  18. 18. 18 In 2013 Crocodile Gold announced a Mineral Resource and Reserve update for the Maud Creek deposit near Katherine. Indicated Resources of +870,000 oz gold. South Gandy’s Category Tonnes Grade (g/t Au) Ounces Mineral Resources (1g/t lower cut-off) Indicated 7,733,000 3.50 871,000 Inferred 4,192,000 2.55 343,600 Mineral Reserves (4g/t lower cut-off) Probable 1,055,000 5.40 184,490 Growth Projects: Maud Creek Project Plan • Crocodile Gold is currently reviewing the Maud Creek project to determine how to proceed with updated information. • Other exploration targets exist on site that require follow up work (Chessman). Milestones • Crocodile Gold announced a Mineral Reserve for the Maud Creek project in 2013. • Resource update in was generated using drilling results and reinterpretation of the deposit in 2011.
  19. 19. 19 During the past few years Crocodile Gold has begun the process of rehabilitating current mining and legacy sites held by the Company South Gandy’s Other Projects: Rehabilitation Works completed 2012 – Historic mineralised material rehabilitated at Glencoe and Moline Mining areas 2013 – 34 Ha of disturbed areas rehabilitated at North Point, Princess Louise, Golden Dyke and Brocks Creek 2014 – Golden Dyke area currently being completed, work planned for Howley, Brocks Creek, Princess Louise and North Point Ongoing – CDU conducting grazing study on man made landforms with Crocodile assistance Princess Louise Waste Dump - Before PL Waste Dump - Landscaped Princess Louise - Seeding
  20. 20. 20 Strategic Projects: Non-Core Asset Divestment Non-Core Asset Divestment Crocodile Gold continues to look for opportunities to divest or Joint Venture (JV) non-core assets primarily in the Northern Territory. The benefits include:  Returning upside in the form of Earn-in Rights, Royalties and other similar arrangements  Carrying cost savings  Sharper focus on core producing assets Completed Divestments: Rockland Option Agreement  Crocodile Gold entered into a uranium exploration agreement with Rockland Resources Pty. where Rockland received 100% uranium interest on the company’s property for a AUD$1 million exploration commitment over 4 years and Crocodile Gold is entitled to a 1% net smelter royalty capped at AUD$2.5 million Mt. Bundy Gold Project Divestment to Primary Gold (ASX:PGO)  For the sale of the property, Crocodile Gold received 11.75 million restricted and unrestricted shares (10.5% ownership), a cash payment of AUD$ 3.35 million and a AUD$2.5 million capped royalty  This eliminated the care and maintenance costs on Tom’s Gully Processing plant generating a savings of ~$AUD600,000 per annum.
  21. 21. Recently Completed Divestment: Asset Sale and Farm-In JV Agreement with Phoenix Copper Limited  Crocodile Gold entered into a Base metals (excluding Uranium) and Gold exploration agreement with Phoenix Copper Limited Pty. where Phoenix Copper received:  100% of mining leases containing the Iron Blow and Mount Bonnie Au-Ag-Zn-Pb-Cu deposits:  2% royalty payable to Crocodile Gold for the value of gold and silver in concentrate production; and  Crocodile Gold has the right to clawback 30% interest on the Sales Tenements on completion of a Pre-Feasibility by paying Phoenix Copper 3 times its accumulated expenditure; and  Up to 90% interest on Crocodile Gold ‘s Burnside Exploration Titles, Maud Creek Project (excluding ML30260) and Moline Project areas for an AUD$4 million exploration commitment over 4 years. In the Farm-In tenements:  Crocodile Gold can acquire up to 90% of any 2012 JORC compliant gold and silver deposit from Phoenix Copper; by paying a 3 times the accumulated expenditure on the deposit; and  A further consideration of AUD$500,000 (cash or PNX shares) is payable to Crocodile Gold on completion of a Feasibility Study. 21 Strategic Projects: Non-Core Asset Divestment - Continued
  22. 22. Asset Sale and Farm-In JV Agreement with Phoenix Copper Limited 22 Strategic Projects: Non-Core Asset Divestment - Continued (CRK) (CRK)
  23. 23.  Two Operational Mine Sites – Cosmo & Union Reefs  Sustainable production levels achieved at Cosmo in 2013, with Production Guidance of 75-85k ounces for 2014.  Significant NI 43-101 compliant Gold Resources and Reserves;  Growth Potential:  Current focus is on Underground (and open pit) resource definition to promote sustainability;  Further exploration will be based on the value added by each project;  Large Tenement holding (over 2,000km²) containing many historical mines;  Crocodile Gold is committed to rehabilitation of its operating mine sites;  Non-Core Asset Divestment is advancing and geared towards:  Returning upside in the form of Earn-in Rights, Royalties and other similar arrangements;  Carrying cost savings; and  Allowing Crocodile Gold to focus on core producing assets. Please visit www.crocgold.com for additional information 23 Crocodile Gold: NT Summary

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