Crocodile Gold Corp.
(TSX:CRK)(TSX:CRK.DB)(TSX:CRK.WT)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold"
or the "Company") reports on its production results for the first quarter of
2014. Related financial details for the first quarter are planned for release in
May.


First Quarter Production Highlights



--  Consolidated operations achieved gold production of 53,583 ounces with
    678,821 tonnes of ore processed in the first quarter - a 9.5% increase
    in gold production when compared to Q1 2013. 
--  Gold production is on track to meet guidance of 200,000 to 210,000
    ounces for 2014. 
--  The Cosmo Gold Mine successfully completed the previously announced
    change over to the new underground mining contractor in late March. 
--  The Stawell Gold Mine's Big Hill Enhanced Development Project has taken
    a significant step forward with the release the related Environmental
    Effects Statement (EES) in for public review. 
--  The Company ended the quarter with a preliminary cash balance of $38.0M
    and working capital of approximately $28.3M. The Company also fully
    settled its outstanding credit facility with Credit Suisse during Q1. 



Consolidated Operational Summary



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                                   Q1 2014          Q1 2013          Q4 2013
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Ore Milled (t)                     678,821          555,286          617,945
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Average Recovery (%)                 83.2%            84.8%            86.4%
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Average Grade (g/t Au)                2.92             3.26             3.36
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Ounces Produced (oz)                53,583           48,953           58,276
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Rodney Lamond, President and CEO of Crocodile Gold, commented: "Crocodile Gold
has started the year continuing the positive trends that were established in
2013 with production of over 53,000 ounces of gold in the first quarter of 2014.
With these results, I am pleased to report that we are well on our way to
meeting our 2014 guidance of between 200,000 and 210,000 ounces of gold. We
ended the quarter with a strong cash balance and were able to settle our
remaining outstanding facility with Credit Suisse." Mr. Lamond continued: "I
would like to highlight the work of our team at the Cosmo Gold Mine and that the
transition to our new mining contractor was a success. The team continued
operations and moved a significant amount of ore in light of a mining contractor
transition. At our Fosterville Gold Mine, I am very encouraged by the
exploration results that will ensure the extension of the mine life for the
operation and the Company continues to work on an updated mineral reserve and
resource estimate for the site. In addition, the Big Hill Enhanced Development
Project took a significant step forward with the release the related
Environmental Effects Statement (EES) in for public review. The Company is
committed to moving Big Hill forward as one of our most important growth
projects for 2014 and the release of the EES is a key milestone."


Cosmo Gold Mine

In late March 2014, the Cosmo Gold Mine transitioned its mining contractor to
Downer EDI (see news release from February 3, 2014). All critical gear and
staffing are now in place and operating at targeted levels, and while there were
some operational challenges in the early part of the transition which impacted
mine productivity, the new contractor has quickly met or exceeded performance
indicators with target run rates achieved by the third day after changeover. The
Cosmo Gold Mine continued to operate at a consistent level posting underground
ore production of 180,047 tonnes of ore during Q1 at an average grade of 3.36
g/t Au. Development during the quarter advanced at an average rate of 398 metres
per month.


Tonnes milled in the first quarter were 230,815 tonnes of ore at an average
grade of 2.79 g/t Au and recovery rate of 85.9%, for total gold production of
17,841 ounces of gold. Underground ore was supplemented with approximately
55,500 tonnes of lower-grade oxide material from an exploration property for
reclamation purposes. The stockpile had a lower than estimated grade, which also
impacted the recovery rate. The material was fully processed in Q1, and the
related potential environmental liability has been reduced.


Fosterville Gold Mine

The Fosterville Gold Mine had a strong start to the year with underground ore
production of 206,540 tonnes at an average grade of 3.76 g/t Au, with higher
tonnes offsetting lower grades. Fosterville drew on higher grade stockpiles to
process 220,379 tonnes of ore at a grade of 4.32 g/t Au with a recovery rate of
84.3%, resulting in gold production of 25,786 ounces in the first quarter. Mine
development continued at an average advance rate of 618 metres per month with a
strong advance of 662 metres in March as the site pushes to open up more mining
fronts. Exploration on the Phoenix and Central ore bodies had encouraging
results (see news release of March 12, 2014) and the Company is preparing a
Mineral Resource and Reserve Estimate with the anticipation that additional
mineral resources identified will continue to extend the mine life of
Fosterville.


Stawell Gold Mine

The Stawell Gold Mine continues to focus on the upper levels of the mine,
accessing remnant mining areas supplemented with stockpiled oxide materials.
During the quarter Stawell mined 141,126 tonnes of underground ore at an average
grade of 2.49 g/t Au. The Stawell Mill processed a total of 227,627 tonnes at an
average grade of 1.71 g/t Au, as underground ore was supplemented by lower grade
surface oxide stockpiles. An average recovery rate of 79.4% resulted in gold
production of 9,956 ounces for the quarter.


Update on the Big Hill Project

In April 2014, Crocodile Gold released the Environmental Effects Statement (EES)
for the Big Hill Enhanced Development Project (the "Project"). The EES is a
significant part of the permitting process and will form the basis of the
Ministerial assessment of the Project expected later in 2014. The EES is
available for public review and comment; access to the complete document has
been made available on the Company's website at www.crocgold.com.


Cash Balance and Working Capital Position

At the end of the first quarter of 2014, Crocodile Gold had a preliminary cash
balance of $38.0 million and working capital of approximately $28.3 million. In
February 2014, the Company fully settled its outstanding credit facility with
Credit Suisse.


As disclosed in the December 31, 2013 audited annual financial statements, the
Company and AuRico Gold Inc. engaged an independent expert to determine the
treatment of certain financial transactions in the net free cash flow sharing
arrangement that exists between the two parties. On April 14, the independent
expert concluded that such items were to be included in the calculation of
contingent payments. The Company has reviewed the report and determined that no
contingent payments are currently payable under the agreement and that based on
current plans and gold prices, no portion of the contingent consideration will
be classified as current.


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 Company also has a combined land package in excess of 4,000 sq.
km. Crocodile Gold is focused on sustainable production from its three operating
mines, Cosmo, Stawell and Fosterville, while also exploring and developing the
Company's assets to ensure continued production in the future. For additional
information, please visit our website www.crocgold.com.


Follow us on Twitter @crocgold_crk or on Facebook at /CrocodileGoldCorp.

Qualified Person

F. W. Nielsen, P.Geo., a technical consultant to Crocodile Gold Corp., 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.


Cautionary Note

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Crocodile Gold Corp.
Rob Hopkins
Manager, Investor Relations
416-861-5899
info@crocgold.com
www.crocgold.com