TORONTO, ONTARIO--(Marketwired - March 31, 2015) - Crocodile Gold Corp. ("Crocodile Gold" or the "Company") (TSX:CRK)(TSX:CRK.DB)(TSX:CRK.WT)(OTCQX:CROCF)(FRANKFURT:XGC) today announces its consolidated 2014 year-end Mineral Reserves and Mineral Resources. The Company's AIF and technical reports prepared in accordance with NI 43-101 supporting the 2014 Mineral Reserve and Mineral Resource estimates will be available under the Company's profile at www.sedar.com.

2014 Highlights

• Consolidated Mineral Reserves maintained: 2014 year-end Mineral Reserves increased 1% to more than 935,000 ounces of gold including updated Mineral Reserves and Resources at Stawell Gold Mines ("Stawell").

• Increased Measured and Indicated ("M&I") Resources at Fosterville and Cosmo Gold Mines : M&I Resources increased 3.9% at Fosterville Gold Mine ("Fosterville") and 7.8% at Cosmo Gold Mine ("Cosmo") compared to 2013 following positive exploration results.

• Maintained Mineral Resource base after depletion: 2014 year-end M&I Resources maintained at 4.8 million ounces of gold, a similar level compared to M&I Resources at year-end 2013.

• Mineral Reserve Grade Impacted by Enhanced Big Hill Open Pit Project: A focus on delivering high margin ounces has resulted in a year-over-year decrease in consolidated Mineral Reserve grade to 3.15 g/t as the Enhanced Big Hill open pit project at Stawell was included in 2014 year-end consolidated Mineral Reserves.

• Improved grade profile at Fosterville: Exploration drilling completed at Fosterville during 2014 has provided increased definition and confidence in Fosterville's geological model resulting in a 3.0% increase in Mineral Reserve grade to 6.6 grams per tonne ("g/t") as well as a 8.1% increase in Measured and Indicated Resources grade to 4.2 g/t.

Rodney Lamond , President and Chief Executive Officer commented: "In 2014, we delivered strong physical and financial results and achieved successful exploration results from drill programs at all of our operating mine sites. Our exploration programs drilled more than 110,000 metres to replace the ounces from record mining depletion and maintained our Mineral Reserve and Mineral Resource base of nearly 0.9 million ounces and 4.8 million ounces of gold respectively. This was a significant achievement given the challenging gold price environment, which also positions us well for 2015. In addition, we are extremely pleased with the positive exploration results from Stawell that enabled us to provide the operation's first updated Mineral Reserve and Mineral Resource report since 2012."

"Looking ahead, we have a clear objective to execute our sustainable mining model to replace the ounces mined per year, roughly between 205,000 to 220,000 ounces annually, through the conversion of resources to reserves while maintaining a consistent resource base."

Mineral Reserve Summary by Asset and Highlights:

• Consolidated Mineral Reserves maintained: Mineral Reserves at Stawell increased 69.2% since its last technical report in 2012 as a result of the inclusion of the Enhanced Big Hill Project and positive drill results achieved during 2014. Adjustments to geological models at Fosterville resulted in a decrease in Mineral Reserve with an increase in the resulting grade profile. At Cosmo, resource conversion expenditures were constrained during the year while under the net free cash flow sharing arrangement with AuRico Gold Inc. Cosmo's grade profile decreased slightly due to the inclusion of additional material from outside the main higher-grade 100 footwall lode. Additionally, at Stawell, a focus on delivering high margin ounces resulted in a 56.3% decrease in grade year-over-year to 1.5 g/t due to inclusion of 145,000 ounces, at 1.54 g/t, from the Enhanced Big Hill open pit project.

Mineral Resources Summary by Asset and Highlights:

• Consolidated M&I Resources maintained after mining depletion at 4.8 million ounces of gold year-over-year, with a 0.4% increase in average grade to 2.82 g/t to support future production.

• Achieved Successful Exploration Results at All Three Operating Mines: Several opportunities have been identified during the 2014 Mineral Resource exploration drilling that resulted in increased M&I Resources at Fosterville and Cosmo. Fosterville increased M&I Resources by 3.9% to over 2.1 million ounces of gold while Cosmo increased M&I Resources by an impressive 7.8% to 539,000 ounces of gold.
  
  At Fosterville, the 2014 exploration results established the continuation of gold mineralization down-plunge and mineralized faults below the Phoenix and Lower Phoenix Faults demonstrate the potential to extend Mineral Resources.
  
  At Cosmo, cross-cutting faults have been identified at the southern and northern edges of the main eastern lode sequence. These faults have been shown to offset the main lodes and in some cases create repetition of the mineralization. Extensional drilling will continue to test these areas during 2015.
  
  At Stawell, mining transitioned from deep in the mine to the upper levels of the mine where the extraction of remnant and other ore materials is currently in progress. As a result, the new 2014 M&I Resource of 243,000 ounces, with an average grade of 1.81 g/t, reflects this transition since 2012.
  
  With more than 30 years of continuous operation, and over 2.2 million ounces of gold production at Stawell, the Company believes that there is still strong potential for finding additional underground mineral resources. During 2014, a targeted drill program at Stawell was implemented and focused on the middle to upper portion of the strongly mineralized Magdala system. Drill results identified areas for potential resource growth and provided upside for potential extension of the life of Stawell's underground operations. Current and extensive historical mining of the upper levels in the mine will allow target areas to be readily accessed in the future.

• Inferred Resources Impacted by Strategic Investment in Increased Mineral Reserves: Inferred Resource ounces declined at all three sites as a result of exploration investment focused on strategic conversion of existing M&I Resources over the growth of new resources given the challenging price environment. Additionally, the Company completed the sale of two non-producing assets which contained Inferred Resources in 2013.

About Crocodile Gold

Crocodile Gold is a Canadian-listed gold mining and exploration company with three operating mines in Australia. The objective of Crocodile Gold is to continue to focus on the safe and profitable operating performance from its three operating mines, Fosterville and Stawell Gold Mines in the state of Victoria and Cosmo Gold Mine in the Northern Territory. Our primary goal of sustainable operating performance is achieved through building confidence in our mine plans, continuing with prudent cost management controls, and targeted exploration and resource development. Sustainable operating performance from our current assets is a critical step in supporting the future growth toward the Five Year Strategy of Crocodile Gold.

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

Qualified Person

Mark Edwards , MAusIMM (CP), MAIG, General Manager Exploration and Business Development for Crocodile Gold, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

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 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.