Crocodile Gold Reports on Ministerial Independent Panel's Response to the Enhanced Big Hill Project at Stawell

TORONTO, ONTARIO--(Marketwired - Oct 30, 2014) - Crocodile Gold Corp. (TSX:CRK)(TSX:CRK.DB)(TSX:CRK.WT)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") received a response from the Victorian Government Planning Minister's Independent Panel ("the Minister") on the Company's Enhanced Big Hill Project. The Independent Panel has provided a number of key recommendations for the project and at this time also advised in its Assessment to statutory decision-makers that the proposed project should not proceed in the current form.

"We appreciate the important input from the Minister's Independent Panel to statutory decision-makers on the Enhanced Big Hill Project and we will be looking at ways to implement the recommendations," said Rodney Lamond, President and CEO, Crocodile Gold Corp.. "We continue to believe that the project remains beneficial to the Company and the community of Stawell. My team and I will review the recommendations and begin developing a plan to ensure that this project continues to move ahead."

Crocodile Gold looks forward to reviewing these recommendations as part of an appeals process. The Enhanced Big Hill Project is set to bring 100 jobs to the Stawell community while also having a positive effect on the local economy by extending the Stawell operations for at least 5 more years.

About Crocodile Gold

Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in Australia, in the State of Victoria and the Northern Territory. The objective of Crocodile Gold is to continue production from its three operating mines, Cosmo, Fosterville, and Stawell, while also exploring and developing the Company's resources to ensure sustainable production in the future.

For additional information, pleases visit our website www.crocgold.com or follow us on Twitter @crocgold_crk or on Facebook at CrocodileGoldCorp.

Cautionary Notes

Forward Looking Information

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 2013 production estimates, 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 licences, 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 that 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.