crocodile gold may 4 corporate presentation
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Significant NewAustralian Gold
Producer
MAY 2011
TSX:CRK OTCQX:CROCF FRANKFURT:XGC
TSX:CRK
DisclaimerForward Looking Statements
This presentation contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are 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; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource 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 statements 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 statements are 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 statements are 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 statements, 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 statements, 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 statements. 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 mineral resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 presentation.
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.
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TSX:CRK
Politically Stable Location & Infrastructure
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TSX:CRK
The Assets
ProductionHowley Trend open pit mine
North Point Mineopen pitoxide, low strip ratiodry season operation
(May – Nov)
Princess Louiseopen pit minedry season operation
(May – Nov)
DevelopmentCosmo Mine
underground mine Initial ore mined
mid 2011
Pine Creek Area open pit mines production expected
latter half 2011 (after permits)
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MillsUnion Reefs Mill
2.4 mtpy in operation
Tom’s Gully Mill 240,000 tpy Care and
maintenance
Large Land Position
>2,700 km2
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Investment Advantage
Expanding production profile, decreasing cash costs Outstanding potential to discover additional resources 3.175 million ounces M&I and 2.14 million ounces Inf. 95% of resources on mining leases Adjacent to major highway and utilities 2010 production of 82,000 ounces 2011 production guidance: 85,000 – 100,000 ounces
TSX:CRK
Milestones
6
Acquired Assets (Mar)
Began Trading on TSX (Nov)
Commenced Mining & Milling (Nov)
First Gold Pour (Dec)
Declared Commercial Production (June)
Production at Pine Creek
Production at Cosmo
2009
20102010 Production of 82,000 oz
2011
TSX:CRK
2011 Major Capital
Investments1. Cosmo Development
2. Exploration
2011 – Increasing Production Throughout the Year
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2011 Production Sources
Open Pits: Howley, Princess Louise, Pine
Creek/Union Reefs areas
Underground: Cosmo, Brocks Creek
2011 Key Catalysts Production from Cosmo Mine
•Initial ore expected mid-2011•Will contribute 50% of ounces at full production
Production from open pit mines (Pine Creek Mines) Aggressive exploration program Increasing % of high grade mill feed throughout the year from Cosmo
2011 Guidance85,000-100,000 oz
Cash Cost US$875-$975/oz
TSX:CRK
2011 Catalysts:Production from Cosmo & Pine Creek
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Production from CosmoAdvantages
High Grade Ore• Cosmo Average Grade = 4 g/t Au• Current Average Head Grade = 1.5 g/t Au
Significant Production Source• Annualized Production of 100,000 oz/year
at full production expected in 2012
Higher Production
+Lower Cash
CostsProduction from Pine CreekAdvantages Close to Union Reefs Mill
• Pine Creek Distance to Mill = 20 km
• Current Average Distance from Production Sources to Mill = 80 km
Significant Potential to Increase Resources
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Cosmo/Howley Mine Area
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Cosmo – East Lode Expansion Potential
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Cosmo – West Lode Expansion Potential
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Cosmo MinePlanned Development
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Current ExplorationDrill Hole
Current ExplorationHole
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Cosmo – DewateringApril, 2011
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Cosmo Trend25 Kilometres of Gold Deposits
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Geophysics: The Trend is Our Friend
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Union Reefs/Pine Creek Area
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Pine Creek and Union ReefsNear Term, Low Cost Production
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New Reserves at Pine Creek
Potential for near term, low cost production
Currently scheduling mine plan
Waiting for permits at International potential production mid 2011
Pine Creek Reserves ~3MT @ 1.7g/t
Currently Drilling Union Reefs to assess new low cost production adjacent to mill
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Union Reefs Area
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Recent Production:Union Reefs = 800,000 oz AuPine Creek = 750,000 oz Au
Significant potential to increase existing resources
11m @ 6.60g/t Au36m @ 4.10 g/t Au16m @ 6.00 g/t Au
19m @ 10.62 g/t Au9m @ 24.40 g/t Au9m @ 4.00 g/t Au
Crosscourse – “Large” scale target:
5m @ 31.97 g/t Au3m @ 45.10 g/t Au
Lady Alice:3m @ 24.56 g/t AuUnion North:
3m @ 37.50 g/t Au
Prospect Claim:
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High Grade Targets at Union Reefs - Prospect Deposit
19Currently Drilling
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High Grade Drill Intercepts at Union Reefs – Prospect Deposit
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To be Drilled in 2011
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Union Reef - Crosscourse Deposit
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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 and orange line is lower grade margin (~1.5g/t).)
MineralizedQuartz Veins
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Union Reef - Crosscourse Deposit
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High Grade Mineralisation
~30m Width~4g/t
Low Grade
~15m Width
~1.5g/t
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.
TSX:CRK
Exploration Priorities - 2011
1.Cosmo Mine - resource/reserve upgrade and resource extensions
2.Union Reefs - drilling to upgrade and expand higher grade resources at Crosscourse, Prospect and Lady Alice deposits
3.Pine Creek Deposits
4.Base metals and precious metals at Iron Blow/Mount Bonnie - potential for additional deposits
5.North Point Mine / Princess Louise Mine Trend
6.Cosmo Trend Resource Expansion
7.Complete property wide compilation and target ranking
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Exploration Priorities - 2011
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1 2
3
4
56
2
3
4
5
6
1 Cosmo
Union Reefs
Pine Creek
Base Metals
NP/PL Trend
Cosmo Trend
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Uranium and Base Metal Targets
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UraniumTwo JV partners: Thundelarra Exploration
(ASX:THX) CKR 30% free carried
Rum Jungle Uranium (ASX:RUM)
Highlights: Thundelarra’s Thunderball
uranium deposit:
inferred resource 0.556 Mlb Thundelarra recently
intersected 4.96 g/t Au over 12 m on North Point/ Princess Louise Mine trend
Base MetalsSignificant upside for base
metal - precious metal deposit including historical Mt. Bonnie deposit
Iron Blow Inferred Resource 210,000 oz Au 10 million oz Ag Au Eq 4.7 g/t 53 Mlbs Pb, 230 Mlbs Zn, 13 Mlbs Cu
(3,175,000 tonnes grading 2.1 g/t Au, 100.9 g/t Ag, 0.76% Pb, 3.28% Zn and 0.19% Cu)
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Deposit Development Sequence and Timing
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Howley
Cosmo
Brocks Creek
North Point/Princess Louise
Pine Creek North(International, Gandy's)
Rising Tide
Pine Creek South(Kohinoor, South Enterprise, Cox)
Bridge Creek
Union Reefs
2011 2012 2013 2014
* Based on current reserves and resources
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Undervalued on Equivalent/oz Au Comparison
27Source: NBFUpdated as at Jan 17, 2011
EV/oz Au Producer Average = $US 134/oz
Crocodile Gold= $US 59/oz
0 5,000 10,000 15,000 20,000$0
$100
$200
$300
$400
$500
$600
ARZ
ANV
NGD
NGX
AGI
ORAGAM
JAG
MFL
PRML
AVM
CLFEDV
GSC
HRG
RSG
SMF
AVO
ALDCRK
KCN
OGCAverage
Total Resources (Moz Au)
EV/o
z Au
(US$
/oz)
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Undervalued on Price to Net Asset Value Comparison
Source: Raymond JamesUpdated as at Apr 5, 2011
Gold Producers
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Short to Long Term Objectives
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Short Term Goals
Medium Term Goals
Long Term Goals
Develop additional open pit minesStart ore production at Cosmo MineAccelerate exploration program
Expand reserve/resource at Cosmo MineEstablish new lower cost mining areas at Pine Creek/Union ReefsReduce operating costs (optimize Union Reefs Mill)
Increase reserves to cover 10 years mine life
Explore to add meaningful increase to resource baseExpand overall production
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Management & Board
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*Mike Hoffman, P.Eng.President and Chief Executive Officer
*David KeoughChief Operating Officer
Steve WoodheadChief Financial Officer
Stan Bharti, P.Eng.Chairman
George Faught, CA
*Mike Hoffman, P.Eng.
*Bruce Humphrey, P.Eng.
Peter Tagliamonte, P.Eng.
Management Board of Directors
*All previously employed at Goldcorp
Bill Nielsen. P. Geo. Vice President, Exploration
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Capital Structure
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Share Structure (at April 30, 2011)
TSX:CRK
Shares Issued & Outstanding
309,851,311
Warrants 62,974,116
Options 14,122,204
Fully Diluted 386,947,631
Market Capitalization(approximately, as at April 30, 2011)
$279 Million
Analyst Coverage
Cormark Securities
Fraser Mackenzie
Raymond James
Union Securities
CRK Share Price
21-Jun-10
10-Jul-1
0
29-Jul-1
0
17-Aug-1
0
05-Sep-10
24-Sep-10
13-Oct-
10
01-Nov-1
0
20-Nov-1
0
09-Dec-
10
28-Dec-
10
16-Jan-11
04-Feb-11
23-Feb-11
14-Mar-
11
02-Apr-1
1
21-Apr-1
10.000.200.400.600.801.001.201.401.601.80
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PROBABLE MINERAL RESERVE
Project Deposit Cut-off (g/t) Tonnes Gold Grade
(g/t)Ounces
Gold
Burnside
Brocks Creek 7.1 34,000 8.6 9,300
Cosmo Mine 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
Gandy’s 1.0 480,000 1.7 26,000
South Enterprise 1.0 420,000 2.0 27,000
TOTAL 7,699,000 2.7 662,000Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
Gold Price US$1,000/oz Au, $A:$US 0.91
Dec. 31, 2010 Reserve SummaryTSX:CRK
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Project Measured + Indicated Inferred
Tonnes Grade Ounces Tonnes Grade Ounces (Au)Mt Bundy 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 25,594,800 0.2 204,200
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 58,206,600 1.1 2,143,400
MINERAL RESOURCE STATEMENT (Other Commodities)
INFERRED MINERAL RESOURCE
Project Deposit Commodity Cut-off Tonnes Grade (ppm) Contained metal
BurnsideIron Blow
Lead 1.0g/t Au 3,175,000 7,595 53,163,000 poundsZinc 1.0g/t Au 3,175,000 32,823 229,750,000 pounds
Silver 1.0g/t Au 3,175,000 101 10,200,000 ouncesThunderball (c) Uranium 200ppm 316,800 796 556,000 pounds
Note: C= Crocodile Gold has a 30% free carried interest in this deposit
Dec. 31, 2010 Resource SummaryTSX:CRK
TSX:CRK
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Union Reefs Mill
Investor Contacts
Mike HoffmanPresident and CEO416-861-2964mhoffman@crocgold.com
www.crocgold.com
A Member of the Forbes & Manhattan Group of Companies
Investor Relations416-861-5899info@crocgold.com
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