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
Source: Crocodile
Gold Corp.
.