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TORONTO, ONTARIO -- (Marketwire) -- 03/07/13 -- Crocodile Gold Corp. (TSX: CRK)(OTCQX: CROCF)(FRANKFURT: XGC) ("Crocodile Gold" or the "Company") today announces its financial and operating results for the year ended December 31, 2012. All figures are in U.S. dollars, unless stated otherwise.

2012 Highlights

--  In May 2012, the Company acquired the Fosterville and Stawell Gold    Mines, contributing to the production profile in 2012 and going forward.--  Cosmo Mine achieved an average development rate of 575 metres per month    with particularly strong production in the latter half of 2012, allowing    the Company to declare commercial production on March 1, 2013.--  An increase in gold produced of 129% from 2011 to 155,523 ounces, in    line with Company guidance, resulting in total revenues of $255,930,383.--  The Company posted mine operating earnings of $19,617,789 as a result of    strong gold production and diligent cost management. Cash costs for the    fourth quarter were $998 per ounce sold and annual cash costs were    $1,166 per ounce sold, consistent with 2012 guidance.

----------------------------------------------------------------------------                        Q4 2012       Q3 2012        Q2 2012        Q1 2012----------------------------------------------------------------------------Revenue           $ 101,770,213 $  78,721,463  $  56,861,530  $  18,577,177----------------------------------------------------------------------------Mine operating earnings (loss)  $  12,410,636 $   7,028,408  $   5,949,787  $  (5,771,042)----------------------------------------------------------------------------Net income (loss) $  43,306,415 $ (55,998,228) $  (7,225,054) $ (20,289,927)----------------------------------------------------------------------------Net income (loss) per share        $        0.11 $       (0.14) $       (0.02) $       (0.06)----------------------------------------------------------------------------Operating Cash Flow             $  39,334,568 $  32,511,747  $   4,853,865  $ (17,868,866)----------------------------------------------------------------------------Ounces Produced          62,147        45,963         36,481         10,932----------------------------------------------------------------------------Ounces Sold              59,541        47,121         35,665         10,900----------------------------------------------------------------------------Average Sale Price            $       1,704 $       1,664  $       1,591  $       1,698----------------------------------------------------------------------------Cash Cost Per Ounce            $         998 $       1,176  $       1,167  $       2,028(Refer to non- GAAP measures below)------------------------------------------------------------------------------------------------------------                    Year ending                        Dec 31,                           2012--------------------------------Revenue           $ 255,930,383--------------------------------Mine operating earnings (loss)  $  19,617,789--------------------------------Net income (loss) $ (40,206,794)--------------------------------Net income (loss) per share        $       (0.10)--------------------------------Operating Cash Flow             $  58,831,314--------------------------------Ounces Produced         155,523--------------------------------Ounces Sold             153,227--------------------------------Average Sale Price            $       1,665--------------------------------Cash Cost Per Ounce            $       1,166(Refer to non- GAAP measures below)--------------------------------