Crocodile Gold Triples Its Gold Production to 36,117 Ounces in the Second Quarter of 2012

Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or
the "Company") is pleased to announce it produced 36,117 ounces of gold in the
second quarter of 2012 and 46,876 ounces year to date in the period ending June
30, 2012.




----------------------------------------------------------------------------
                         First    Second                                    
                       Quarter   Quarter               YTD               YTD
                          2012   2012(1)     Production(1)    Performance(2)
----------------------------------------------------------------------------
Ore Processed (t)      371,439   463,176           834,615         1,393,756
----------------------------------------------------------------------------
Average Grade (g/t                                                          
 Au)                      0.99      2.83              2.01              2.51
----------------------------------------------------------------------------
Mill Recovery (%)        92.0%     87.4%             89.5%             86.6%
----------------------------------------------------------------------------
Gold oz Produced        10,759    36,117            46,876            94,770
----------------------------------------------------------------------------
Note 1: Includes production from Fosterville and Stawell post May 4th       
 acquisition                                                                
Note 2: Shown as reference and including Fosterville and Stawell production 
 since January 1st 2012. YTD results through June 30, 2012.                 
This table is compiled from unaudited production figures. Audited results   
 can have slight variations and will be released as part of the Company's   
 Quarterly Reporting.                                                       
----------------------------------------------------------------------------



With the completion of the acquisition of the Fosterville ("FGM") and Stawell
("SGM") gold mines on May 4th, the Company significantly increased its gold
production, more than tripling its production in the second quarter compared to
the company's first quarter 2012 performance. For year over year comparison
purposes, when the FGM and SGM mines are included as if they were owned by
Crocodile on January 1, 2012, the Company's pro-forma gold production
performance year to date through June 30, 2012 was approximately 95,000 ounces.


Commenting on these results, Chantal Lavoie, President and CEO of the Company
said, "This year's second quarter has been transformational for our Company with
the acquisition of the Fosterville and Stawell mines, the completion of the $75
million debt facility with Credit Suisse AG and the continued progress at our
Cosmo project in the Northern Territory. At the operational level, best
practices are already being shared and implemented and we have seen positive
results at all the sites."


Operational Update-State of Victoria 



--  The Company successfully completed the acquisition of the FGM and SGM
    gold mines acquisition on May 4th. Associated with the acquisition, the
    Company completed a $75 million debt facility with Credit Suisse AG. 
--  The operating teams of FGM and SGM have been fully integrated into
    Crocodile Gold and after a transitional period in May, both mines
    produced more ounces of gold in June than in any other month in 2012. 
--  The Company completed operational reviews and made the decision to
    transition the operation of SGM, which will see underground mining
    activities being completed by the end of 2013. The decision to cease
    mining activities at SGM after 2013 will result in significantly reduced
    capital expenditures at SGM starting in the fourth quarter of 2012 and
    continuing throughout 2013. This should result in material free cash
    flow generation from SGM in this period during which gold is being
    produced, but no development capital is being spent.



Operational Update-Northern Territory 



--  At Cosmo, underground drilling continued and results to date confirm the
    ore zones are wider than expected in several locations. The wider ore
    zones should allow for simpler mining techniques, lower dilution and
    ultimately lower cost production which are all positive, long-term
    developments for Crocodile Gold. 
--  In the short-term, the wider ore zones require adjustments to the mining
    method and sequence. In conjunction with this, development rates have
    been lower than expected. Remedial plans have been developed with the
    main contractor, Leighton, and development rates in June reached all-
    time highs despite continuing labour shortages in the region. 
--  Trial mining in Zone A has been successful with lower than expected
    dilution and grades and metallurgical recoveries as per plan. 
--  The Company continued to progress on permitting the International open
    pit mine. This includes an amendment made to the project development
    sequence, in line with comments received from regulators. A production
    decision is still expected by the fourth quarter of 2012. The Company
    has not included any production from the International property in its
    2012 guidance.  
--  The Company has successfully re-negotiated the ore haulage contract,
    which will see a significant reduction in associated costs over the next
    two years 
--  Surface mining activities at Rising Tide (Phase 1) were completed and
    the decision was taken to not proceed with the next phase nor with the
    remaining mining of the Princess Louise and North Point deposits, given
    lower than expected grade results and price escalation by the surface
    mining contractor. 



Exploration and Advanced Projects - Update



--  The Company completed its Union Reefs drilling program with nearly
    11,500 meters drilled. Results will be used to update the mineral
    resources and mineral reserves model in the third quarter. In June,
    permits required to initiate the excavation of an exploration decline
    were received. A decision regarding the next phase of the project will
    be taken later this year. 
--  In June, a review was completed by an independent consultant confirming
    the applicability of BIOX technology, which is currently being utilized
    at the Fosterville Mine, to the Maud Creek deposit, therefore providing
    a technical and economical solution for gold recovery. 
--  On May 16th 2012, the Company signed a binding agreement with Primary
    Minerals NL of Perth, Australia for the sale of the Mt. Bundy property
    in the Northern Territory. This agreement remains subject to various
    conditions subsequent that are expected to be satisfied by the end of
    2012.



Additional details of the second quarter will be provided in the Management
Discussion and Analysis report, which will be released in conjunction with the
Company's financial statements in mid-August. 


About Crocodile Gold

Crocodile Gold is a Canadian company with operating gold mines in the Northern
Territory of Australia and in the State of Victoria with a land package of over
3,900 square kilometres. Crocodile Gold is currently mining at the Fosterville
and Stawell mines in the State of Victoria. In the Northern Territory, the
Company continues to develop its Cosmo underground mine and is permitting the
International open pit mine. The Northern Territory ore production is processed
at the Union Reefs Mill with a capacity of 2.4 million tonnes per year. 


At its Northern Territory properties, the Company has 3.175 million ounces of NI
43-101 reported Measured and Indicated mineral resources and 2.14 million ounces
of Inferred mineral resources. These resources are inclusive of mineral
reserves. At the State of Victoria properties, the Company has an additional
3.732 million ounces of NI 43-101 reported Measured and Indicated mineral
resources and 0.622 million ounces of Inferred mineral resources. These are
exclusive of mineral reserves which total 0.472 million ounces. 


Crocodile Gold has an extensive exploration program in place in the Northern
Territory and is exploring on several key properties on its expansive land
package. Crocodile Gold's main focus is on the Cosmo Mine, the Union Reefs and
Maud Creek project areas. In the State of Victoria, the Company has exploration
programs in place designed to expand the resource base of each mine property.


For additional information, please visit our website www.crocgold.com. Follow us
on Twitter (@crocgold_crk) or Facebook (www.facebook.com/CrocodileGoldCorp). 


Qualified Person

David Keough F.AusIMM of Crocodile Gold Inc is a "qualified person" as such term
is defined in National Instrument 43-101 and has reviewed and approved the
scientific 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 the Company's expectations
for future performance based on current drill results and past production,
expected gold prices, 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, and 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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