Crocodile Gold Announces Appointment of Bill Nielsen. P. Geo as Vice President, Exploration
TORONTO, ONTARIO -- (Marketwire) -- 03/21/11 -- Crocodile Gold Corp. (TSX: CRK)(OTCQX: CROCF)(FRANKFURT: XGC) ('Crocodile Gold' or the 'Company') is pleased to announce that Bill Nielsen. P. Geo. has been appointed Vice President, Exploration of the Company.
Mr. Nielsen is an accredited geologist with over 30 years of worldwide mineral exploration and development experience. Most recently, Bill has been working as a senior industry consultant to mining exploration companies working with a variety of commodities in various countries and geological environments and involved with corporate strategy, design and implementation of all phases of project work, including drill programs, assisting with producing compliant resource statements and cash flow scenarios.
From 2003 to 2008, Mr. Nielsen was the V.P. Exploration of Nevsun Resources Ltd., where he played a significant role in the discovery of the Bisha gold-VMS deposit in Eritrea, bringing the property from initial discovery to the feasibility stage in 18 months.
Prior to joining Nevsun, Bill worked as an independent geological consultant providing property evaluations, resource reviews, design and implementation of exploration and development projects throughout the world.
Bill received a BASc in 1973 from the University of Western Ontario and is a member of the Association of Professional Engineers and Geoscientists, Manitoba, Canadian Institute of Mining, Geological Association of Canada and Association of Applied Geochemists.
Mike Hoffman, President and CEO of Crocodile Gold commented, 'We are very pleased that Bill Nielsen has agreed to join Crocodile Gold as Vice President of Exploration. His extensive experience in gold exploration will be an asset as he leads our exploration personnel in unlocking further value at our extensive 2,700 square kilometre Northern Territory properties.'
Bill Nielsen, Vice President of Exploration of Crocodile Gold commented, 'During my initial visit to the site, I was very impressed with the infrastructure, the people and the exploration potential of the property. With our exploration team, I am looking forward to drill testing some of our priority targets such as at Union Reef and Cosmo in the near future and developing a regional program to define the extensive land positions potential for gold, base metals and uranium. Our ultimate goal is to significantly expand the Company's resource and reserve base.'
About Crocodile Gold
Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,700 km2. Crocodile Gold is currently mining from the Howley and the Brocks Creek underground mine with production to shortly begin at the Princess Louise open pit mine. 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 3.4 million ounces of NI 43-101 compliant measured and indicated resources (52 million tonnes at an average grade of 2.0 g/t gold) and 2.1 million ounces of inferred resources (35 million tonnes at an average grade of 1.9 g/t gold) (see the Amended Annual Information Form dated November 5, 2010 and Crocodile Gold press releases dated September 8, 2009, January 25, 2010, October 14, 2010 and December 2, 2010).
Qualified Person
David Keough, MAusIMM of Crocodile Gold Australia Operations is a 'qualified person' as such term is defined in National Instrument 43-101 and has reviewed and confirmed the 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, including management's assessment of Crocodile Gold's targeted production, future plans, operations, weather forecasts 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 those risks described in the annual information form of the Company. 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.
Contacts:
Crocodile Gold Corp.
Michael Hoffman
President and CEO
416-861-2964
Crocodile Gold Corp.
Investor Relations
416-861-5899
info@crocgold.com