2. Forward Looking Information
2
This presentation contains forward-looking information under Canadian securities legislation. Forward-looking information includes, but is 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 or on commercially reasonable terms; the future price of gold; the estimation of mineral resources and
mineral reserves; conclusions of economic evaluation (including scoping studies); the realization of mineral resource and reserve 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 information 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 information is 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 information is 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 information, 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 information, 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 information. The
Company does not undertake to update any forward-looking information 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. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be
upgraded to proven and probable mineral reserves.
Bill Nielsen P.Geo., 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 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.
Non-IFRS Measures
Crocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be considered in isolation or as a
substitute for measures of performance in accordance with the International Financial Reporting Standards.
“Operational Cash Cost per Ounce” is a non-IFRS performance measure which could provide an indication of the mining and processing efficiency at the operations. It is determined by dividing the
operating expenses, excluding stock-based compensation allocated to the operating expense and next of silver revenue, by the number of ounces of gold sold. There are variations in the method of
computation of “operational cash cost per ounce” as determined by the Company compared with other mining companies. For more detail on the Operational Cash Cost per Ounce determination for
Crocodile Gold, please visit www.sedar.com or www.crocgold.com and review the latest Annual Financial Statements issued on March 19, 2013.
Note for Pages 8-10 and 15 : For information regarding mineral resource and reserve estimates, including parameters used to generate the estimates and depletion, please see the technical reports titled:
NI43-101 TECHNICAL REPORT FOSTERVILLE GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated April 29th, 2012; NI43-101 TECHNICAL REPORT STAWELL
GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated April 9th, 2012. For the Northern Territory Mineral Reserve Estimates please refer to the technical reports titled:
REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE COSMO DEEPS GOLD PROJECT dated June 1, 2013;
REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE UNION REEFS GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL
RESERVES OF THE PINE CREEK GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE MAUD CREEK GOLD PROJECT dated
December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE BURNSIDE GOLD AND BASE METAL PROJECT dated December 12, 2013.
Notes for Page 11: The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are
not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized
3. Investment Highlights
3
GROWING GOLD
PRODUCTION
GENERATING CASH
FLOW
GROWTH
POTENTIAL
• Operating cash flow generated in Q1 2014 exceeded
$12 million
• Total Operating cash flow generated in 2013 exceeded
$67 million
• Operational Cash Costs for Q1 2014 decreased to $971
per ounce compared to $1,027 per oz in 2013
• All-In Sustaining Cash Costs for Q1 2014 decreased to
$1,307 per oz compared to $1,386 in 2013
• Total Production for 2013 was 210,000 oz, up from
155,000 oz in 2012
• Production for Q1 2014 was 53,583 ounces of gold; on
track for 2014 production guidance of 200-210,000 oz
DECREASING
COSTS
• Current focus is on underground resource definition to
extend mine life at all projects
• Further exploration will be based on the value added by
the project
All within
Australia –
a first world
country with
one of the
most mining
friendly
jurisdictions
SIZABLE
RESOURCES
• Proven and Probable Reserves: 1.0 million oz
• M+I Resources: 4 million oz
• Inferred Resources 2.3 million oz
4. 2013/2014 Significant Highlights
4
2013
Q2
• Successfully unwound gold swap (hedge) position, significantly
reducing debt from approximately $70M to $11M
Q3
• Cosmo Mine transitioned from ramp-up to sustainable producer
with 21,300 ounces produced in Q3
• Increased production guidance to 200,000 – 205,000 oz from
170,000 – 180,000 oz
Q4
• Exceeded 2013 guidance with 210,626 ounces produce at an
average cash cost of $1,067
• Established 2014 production guidance of 200,000 – 210,000
ounces gold at an average cost between $900 – 950
2014
Q1
• Executed 3 key contracts for Northern Territory Operations which
will yield significant cost savings
• Closed an $18 million private placement with Luxor Capital and
Sprott Asset Management
• Paid out Credit Suisse credit facility ahead of schedule
5. 5
Crocodile Gold is focused on building a strong, sustainable mining
company based on core mining principles and value-driven decision
making. This will be accomplished through:
Generating Positive Cash Flow – Cash flow is needed to fund growth projects.
Over the past three quarters, the Company has been successful in generating cash
from operations and in order to continue this, the Company has limited sustaining
capital spending and has implemented a number of cost control measures.
Implementing Cost Controls – Cost control measures and minimizing operational
cash costs are necessary under current market conditions. The Company has
focused on the centralization and streamlining of many aspects of the operations
across Australia including IT Services and HR functions.
Divesting Non-Core Assets – Currently the Company has over 4,000 sq. km of
property, much of which does not fit the criteria of adding value in the near term.
Divesting these assets removes carrying costs and streamlines operations.
2014 Strategic Outlook
8. 8
Gold Production:
Cosmo Gold Mine
• In Q1 2014, Cosmo mined 180,000 tonnes of
ore and processed 230,000 tonnes with an
average grade of 2.79 g/t Au.
• In the quarter, the Union Reefs Mill treated ore
from a lower grade oxide stockpile for
environmental reclamation purposes which
affected overall average grade and recovery
results
• Also during the quarter, Crocodile Gold
successfully transitioned in a new mining
contractor with minimal disruption to
production.
• Proven and Probable Reserves* of 1.96Mt at
3.75 g/t Au for 236,000oz
• Measured and Indicated Resources* of 4.1Mt
at 3.6 g/t Au for 480,000 oz
*Please refer to cautionary notes on page 2 of this presentation
Cosmo 2014 Performance
Q1 2014 Q1 2013
Ore Milled (Tonnes) 230,815 152,128
Average Grade (g/t Au) 2.79 3.12
Recovery(%) 85.9 86.4
Gold Produced
(Ounces)
17,841 13,169
Gold Sold (Ounces) 19,416 12,309
Cosmo Access Portal
2014 Production Guidance:
75,000 – 80,000 Ounces Gold
9. 9
Gold Production:
Fosterville Gold Mine
• In Q1 2014, Fosterville continued to demonstrated
strong results with over 220,000 tonnes processed for
almost 26,000 ounces of gold.
• Positive underground definition drilling returned
intersections that suggest the Phoenix and Lower
Phoenix Zones will extend the mine life past the
current 3 years. Highlights include:
Fosterville Processing Facility
Fosterville 2014 Performance
Q1 2014 Q1 2013
Ore Milled (Tonnes) 220,379 190,026
Average Grade (g/t Au) 4.32 4.74
Recovery (%) 84.3 81.4
Gold Produced
(Ounces)
25,786 23,556
Gold Sold (Ounces) 25,809 24,270
2014 Production Guidance:
95,000 – 100,000 Ounces Gold
Hole Width (m) ETW* (m) g/t Au
Phoenix Zone
UDH0501 6.90 5.40 12.66
UDH0503 9.65 7.90 6.40
UDH0505 5.30 3.80 10.41
UDH0750 15.90 11.70 6.00
Lower Phoenix Zone
UDE110 33.80 7.00 24.00
UDH0561 3.60 3.00 32.86
UDH0575 14.35 8.00 12.89
UDH0617 6.85 6.30 19.15
UDH0643 11.90 8.60 16.67
UDH0755 6.80 6.60 122.35
*ETW = Estimated True Width. Full details of the definition drilling program, including
QA/QC processes, can be found in the Press Release dated March 12, 2014
10. 10
Gold Production:
Stawell Gold Mine
Stawell Processing Facility
• Stawell continues to focus on the upper levels
of the Mine, accessing remnant ounces while
reviewing the upper level resource to identify
further profitable opportunities from the
underground.
• In Q1 2014, Stawell milled a total of 227,000
tonnes of underground and stockpile ore at an
average grade of 1.71 g/t Au. Stawell is
expected to continue underground remnant
mining into 2014.
Next Steps
• Exploring opportunities within the existing
mining lease, including the Big Hill Project.
• Engagement continues with local stakeholders
and community.
Stawell 2014 Performance
Q1 2014 Q1 2013
Ore Milled (Tonnes) 227,627 213,132
Average Grade (g/t Au) 1.71 2.06
Recovery(%) 79.4 86.5
Gold Produced
(Ounces)
9,956 12,228
Gold Sold (Ounces) 9,510 13,141
2014 Production Guidance:
~ 30,000 Ounces Gold
11. 11
The Big Hill Deposit is the surface
expression of the Stawell Deposit. It
currently has Indicated Resources of 2.83
million tonnes at 1.84 g/t Au for 167,000 oz*.
South
Gandy’s
Big Hill Pit
Description Unit Open Pit
Strip ratio 3.4 to 1
Ore production Mt 2.3
Grade g/t 1,65
Recovered ounces oz 108,531
Revenue AUD$(mm) 153
LOM Capital AUD$(mm) 21.7
NPV ($1,400/oz, 10%
DR)
AUD$(mm) 39.6
Growth Projects:
Big Hill Enhanced Development Project
Project Plan
• NI 43-101 compliant Preliminary
Economic Assessment (PEA) completed
• Ore would be treated at the existing
Stawell Gold Mine mill
• Estimated 4 ½ years of operation
Milestones
• The Environmental Effects Statement for
the project was issued for Public Review
in late March 2014. Final
recommendations are expected in Q3.
• Full Feasibility Study is expected to be
released in the second half of 2014.
Stawell Mill
Big Hill Project
12. 12
Strategic Projects:
Non-Core Asset Divestment
Non-Core Asset Divestment
Crocodile Gold continues to look for opportunities to divest or Joint Venture (JV) non-core assets
primarily in the Northern Territory. The benefits include:
• Returning upside in the form of Earn-in Rights, Royalties and other similar arrangements
• Carrying cost savings
• Sharper focus on core producing assets
Completed Divestments:
Rockland Option Agreement
• Crocodile Gold entered into a uranium exploration agreement with Rockland Resources Pty. where
Rockland received 100% uranium interest on the company’s property for a AUD$1 million
exploration commitment over 4 years and a 1% net smelter royalty capped at AUD$2.5 million
Mt. Bundy Gold Project Divestment to Primary Gold (ASX:PGO)
• For the sale of the property, Crocodile Gold received 11.75 million restricted and unrestricted shares
(10.5% ownership), a cash payment of AUD$ 3.35 million and a AUD$2.5 million capped royalty
• This eliminated the care and maintenance costs on Tom’s Gully Processing plant generating a
savings of ~$600,000 per annum.
13. 13
Cash and Debt Positions
Cash Position and Working Capital (End of Q1 2014)
• Cash Position: USD$38.0 Million
• Working Capital: USD$25.9 Million
Debt—Convertible Debenture
• Crocodile Gold issued a C$34.5 Million convertible debenture
due on April 30, 2018, with an 8% coupon and $0.25 conversion
price.
• All interest payments to date on the debenture have been
settled in cash.
14. Capital Structure
14
Share Structure & Financial Details
Basic: 475.6 Million
Warrants: 63.4 Million
Options: 022.9 Million
Fully Diluted: 699.9 Million*
Market Capitalization:
(As of May 12, 2014)
$114.1 Million
52 Week Trading
Range
$0.355 – $0.07
52 Week Share Price Performance
Luxor Capital is the majority owner of Crocodile Gold with approximate ownership
of 56% position. Luxor is very active in the management and oversight of the
Company with two active members on the Board.
Major Shareholder
$0.00
$0.05
$0.10
$0.15
$0.20
$0.25
$0.30
$0.35
*Fully diluted shares outstanding includes the full conversion of the convertible
debentures for 138,000,000 shares
15. Mineral Resources and Reserves *
15
Tonnes Au Grade Au
(MM) (g/t) (Koz)
Proven & Probable Reserves
Cosmo 1.96 3.75 236
Fosterville 2.4 4.7 365
Pine Creek 1.3 1.55 62
Stawell 1.0 3.4 107
Burnside 0.154 1.93 10
Union Reefs 0.298 4.4 42
Maud Creek 1.0 5.4 185
Reserves 8.112 3.82 1,007
Measured and Indicated Resources (incl. of Reserves)
Cosmo 4.1 3.6 480
Fosterville 13.9 2.9 1,289
Pine Creek 8.4 1.4 380
Stawell 4.7 2.6 399
Burnside 7.6 1.4 336
Union Reefs 3.0 2.4 236
Maud Creek 7.7 3.5 871
M&I Resources 49.4 2.51 3,991
Inferred Resources
Cosmo 2.3 3.14 238
Fosterville 5.0 2.9 477
Pine Creek 2.5 2.3 191
Stawell 1.0 4.7 145
Burnside 11.8 1.6 602
Union Reefs 4.3 2.2 305
Maud Creek 4.2 2.5 344
Inferred Resources 31.3 2.29 2,302
*Please refer to cautionary language on page 2 of this presentation
Crocodile Gold maintains
significant Measured and
Indicated Resources of
4 million ounces and
Inferred Resources of
2.3 million ounces.
Reserves for Crocodile
Gold’s projects total
approximately
1.0 million ounces.
16. Crocodile Gold Management Team
Rodney D. Lamond, P. Eng., President & Chief Executive Officer , Director
Mr. Rodney Lamond joined Crocodile Gold as President and Chief Executive Officer of Crocodile Gold in July 2013. Mr. Lamond is a
Professional Mining Engineer with over 25 years of operational experience in the mining industry
Robert Dufour, CPA, CA, Chief Financial Officer
Mr. Robert Dufour was appointed Chief Financial Officer in October 2012. Mr. Dufour is a Chartered Accountant with over 10 years of
finance and accounting experience.
Brianna Davies, J.D., Corporate Secretary
Ms. Brianna Davies has been involved with Crocodile Gold since its inception in 2009. Ms. Davies is a corporate securities lawyer with
experience in the mining and resource sector,.
Troy Cole, General Manager, Stawell Gold Mine
Mr. Troy Cole joined Crocodile Gold Corporation in 2012 through the acquisition of the Stawell Gold Mines from Aurico. Mr. Cole has
been Stawell Gold Mines General Manager since 2007 and has the responsibilities of director, mine management and engineering
during his tenure.
Ian Holland, General Manager, Fosterville Gold Mine
Mr. Ian Holland joined Crocodile Gold through the Acquisition of the Fosterville Gold Mine in 2012 and has been in the role of General
Manager since 2007. Ian has over 17 years experience across a number of gold and base metal mining operations throughout
Australia. He is a geologist by background and has a strong track record in metalliferous operations.
Jason Morin, General Manager, NT Operations
Mr. Jason Morin joined Crocodile Gold in September 2013. He was most recently the General Manager of the Langlois Mine in Quebec
for Nyrstar where he successfully guided the site from care & maintenance to full name plant capacity in 6 months.
Mark Edwards, General Manager, Exploration and Business Development
Mr. Mark Edwards has been part of Crocodile Gold Northern Territory Project since since March 2010. Mr. Edwards is a qualified
geologist with approximately 16 years experience working on Gold and Industrial Mineral deposits in the Northern Territory, Queensland,
Western Australia, Tasmania and Botswana.
16
17. Board Of Directors
Robert H. Getz, Chairman of the Board
Mr. Robert Getz is a private investor and a Managing Director and co-founder of Cornerstone Equity Investors, LLC. Mr. Getz has over 25 years
of experience as a private equity investor and has strong experience in domestic and international mergers and acquisitions and public and private
debt and financings. Mr. Getz has invested in and served as a director of many public and private metals and mining companies. He currently
serves as a director of Haynes International, Inc., a developer and producer of specialty nickel alloys and CML Holdings, Inc., which is the largest
iron ore producer in the western United States. Mr. Getz graduated from Boston University, where he received his BA degree, cum laude, and the
Stern School at New York University, where he received his MBA in finance.
Rodney D. Lamond, P. Eng., Director, President & Chief Executive Officer
George Faught, CPA, CA, Director
Mr. George Faught is a Chartered Accountant with over 25 years of senior management experience and is currently the Chief Executive Officer of
Aberdeen International Inc. He has served as the Chief Financial Officer of publicly traded companies in the natural resources, financial services
and pharmaceutical industries. Mr. Faught has broad financial management, corporate development and operating experience and from 1999 to
2005 served as the Chief Financial Officer for North American Palladium Ltd., a mid-tier platinum group metal producer. Prior to that, he served as
Chief Financial Officer for Hudson Bay Mining & Smelting Co. Ltd., an integrated base metals producer, and William Resources Inc., an
international gold producer. He also serves as a director of several public companies in the resource sector.
Kevin Conboy, Director
Mr. Kevin Conboy was previously President and Chief Executive Officer of Acordia, Inc., a subsidiary of Wells Fargo based in Chicago. As well,
he served as Chief Executive Officer for the NIA Group of Paramus, New Jersey. Mr. Conboy possesses a wealth of experience in the financial
markets and has considerable exposure to financial instruments and business transactions. He sits on a number of corporate and charitable
boards. Mr. Conboy completed a B.A. from Colorado State University in 1973.
Peter Tagliamonte, P. Eng., Director
Mr. Peter Tagliamonte is a professional mining engineer and also holds an MBA from the Richard Ivey School of Business, at the University of
Western Ontario. He is currently the President and CEO of Sulliden Gold, the former President and CEO of Central Sun Mining Inc. and former
Chief Operating Officer of Desert Sun Mining Corp. where he was responsible for the development of the Jacobina Mine in Brazil into a 4,200-
tonne-per-day mining operation. Mr. Tagliamonte has over 25 years of progressive managerial experience building and operating mines
worldwide, notably in Central and South America. In 2005, he received the Mining Journal's "Mine Manager of the Year" award in recognition for
his work in the mining sector.
17
18. Investment Highlights
18
GROWING GOLD
PRODUCTION
GENERATING CASH
FLOW
GROWTH
POTENTIAL
• Operating cash flow generated in Q1 2014 exceeded
$12 million
• Total Operating cash flow generated in 2013 exceeded
$67 million
• Operational Cash Costs for Q1 2014 decreased to $971
per ounce compared to $1,027 per oz in 2013
• All-In Sustaining Cash Costs for Q1 2014 decreased to
$1,307 per oz compared to $1,386 in 2013
• Total Production for 2013 was 210,000 oz, up from
155,000 oz in 2012
• Production for Q1 2014 was 53,583 ounces of gold; on
track for 2014 production guidance of 200-210,000 oz
DECREASING
COSTS
• Current focus is on underground resource definition to
extend mine life at all projects
• Further exploration will be based on the value added by
the project
All within
Australia –
a first world
country with
one of the
most mining
friendly
jurisdictions
SIZABLE
RESOURCES
• Proven and Probable Reserves: 1.0 million oz
• M+I Resources: 4 million oz
• Inferred Resources 2.3 million oz
19. Investor Contact Information
Rob Hopkins
Manager, Investor Relations
416-861-5899
info@crocgold.com
Find us on:TSX: CRK
(CRK.DB, CRK.WT)
OTCQX: CROCF
FRANKFURT: XGC
Crocodile Gold Corporation
19
Robert Dufour
Chief Financial Officer
416-309-2135
www.crocgold.com
