Crocodile Gold Announces Details of Major Exploration Program

TORONTO, ONTARIO, Nov 12 (MARKET WIRE) --
Crocodile Gold Corp. (TSX: CRK) is pleased to announce details of its
initial 12 month US$8.4 million exploration program that it is conducting
on its extensive land position in the Northern Territory, Australia.

The program commenced in August 2009 with the aim to upgrade and extend
current resources, add to the current mining reserves, and to determine
the potential to increase the resource base at a number of key projects.

In announcing the details of this program, President and CEO, Mike
Hoffman, stated "We believe that Crocodile owns a significant new
emerging gold camp in Australia and felt that it was important to
aggressively explore the key projects to demonstrate their potential."

The drilling programme comprises approximately 50,500 metres of reverse
circulation drilling in 280 drill holes, 14,400 metres of surface diamond
drilling in 60 drill holes and 4,880 metres of underground diamond
drilling in 27 drill holes. The drilling programme is focusing on four
key areas, the Chinese open pit areas, the Brocks Creek underground mine,
the Tom's Gully underground mine and the Cosmo underground development
project (see Figure 1 - Location Map). There are currently four drilling
rigs (two diamond and two reverse circulation) drilling on site.

To view Figure 1 - Crocodile Gold Northern Territory Location Map, please
visit the following link:
http://media3.marketwire.com/docs/northernterritory.pdf

CHINESE OPEN PIT AREAS - This area encompasses the site of the initial
open pit mining which re-commenced recently (see news release dated
November 9, 2009). Past mining activity was limited to a number of small
shallow open pits and past exploration drilling averages only 80 metres
in depth, thus limiting the down-dip extent of the known resources. The
area hosts a substantial portion of the mineral resource underlying
Crocodile Gold's tenements (see Table 1 - Chinese Reserves/Resources) and
lies within a 5 kilometre corridor extending north from the Cosmo open
pit. Only a fraction of this corridor has been explored. The current
program comprises 26,152 metres in 159 holes and is designed to upgrade
and extend the current reserves and resources along strike and at depth.

Table 1: Chinese Open Pit Areas Reserves/Resources
----------------------------------------------------------------------------
Reserves Probable Mineral Reserve
----------------------------------------------------------------------------
Deposit Cut-off (g/t) Tonnes Gold Grade (g/t) Contained oz Gold
----------------------------------------------------------------------------
Chinese
South
Extension 1.4 1,000,000 2.1 68,000
----------------------------------------------------------------------------
Gold Price $US 775/oz; $A:$US 0.80
----------------------------------------------------------------------------
Resources Indicated Resources Inferred Resources
----------------------------------------------------------------------------
Cut- Gold Gold
off Grade Grade
Deposit (g/t) Tonnes (g/t) oz Gold Cut-Off Tonnes (g/t) oz Gold
----------------------------------------------------------------------------
Chinese
South
Extension 0.7 3,621,000 1.6 184,800 0.7 1,579,000 1.3 65,000
----------------------------------------------------------------------------
Mottrams 0.7 2,236,000 1.2 87,300 0.7 574,000 1.1 20,900
----------------------------------------------------------------------------
Chinese
1, 2, 3 0.7 3,342,000 1.4 153,300 0.7 1,979,000 1.4 88,800
----------------------------------------------------------------------------
Big Howley 0.7 299,000 1.5 14,400 0.7 348,000 1.8 19,800
----------------------------------------------------------------------------
Total
Chinese
Open Pits 0.7 9,498,000 1.43 439,800 4,480,000 1.36 194,500
----------------------------------------------------------------------------
Resources include reserves

BROCKS CREEK UNDERGROUND MINE - The ore body extends from surface to
500 meters vertically and remains open to depth. The project currently
has a short mine life with limited reserves and resources (see Table 2 -
Brocks Creek Reserves/Resources). The current program is designed to
assess, by surface drilling, the potential to significantly expand the
current resources and extend the mine life. A total of approximately
3,400 metres of diamond drilling is planned.

Table 2: Brocks Creek Reserves/Resources
----------------------------------------------------------------------------
Reserves Probable Mineral Reserve
----------------------------------------------------------------------------
Deposit Cut-off (g/t) Tonnes Gold Grade (g/t) Contained oz Gold
----------------------------------------------------------------------------
Brocks Creek 7.1 68,000 7.4 16,000
----------------------------------------------------------------------------
Gold Price $US 775/oz; $A:$US 0.80
----------------------------------------------------------------------------
Measured Mineral Indicated Mineral Inferred Mineral
Resource Resource Resource
----------------------------------------------------------------------------
Cut- Gold Cut- Gold Cut- Gold
Depo- off Ton- Grade oz off Ton- Grade oz off Ton- Grade oz
sit (g/t) nes (g/t) Gold (g/t) nes (g/t) Gold (g/t) nes (g/t) Gold
----------------------------------------------------------------------------
Brocks 47, 73,
Creek 3.0 6,000 17.3 3,4000 3.0 000 11.1 16,800 3.0 000 9.1 21,300
----------------------------------------------------------------------------
Resources include reserves

TOM'S GULLY UNDERGROUND MINE - The current program is focussed on
confirming the geological model and providing the additional detail
required for successful mining. More than 7,000 metres of drilling are
included within the current program. A 22-hole diamond drill programme
has been designed to upgrade and extend the current resources and
reserves along strike and along dip.

Table 3: Tom's Gully Reserves/Resources
----------------------------------------------------------------------------
Probable Mineral Reserve
----------------------------------------------------------------------------
Deposit Cut-off (g/t) Tonnes Gold Grade (g/t) Contained oz Gold
----------------------------------------------------------------------------
Tom's Gully 7.0 370,000 8.3 99,000
----------------------------------------------------------------------------
Gold Price $US 775/oz; $A:$US 0.80
----------------------------------------------------------------------------
Measured Mineral Indicated Mineral Inferred Mineral
Resource Resource Resource
----------------------------------------------------------------------------
Cut- Gold Cut- Gold Cut- Gold
Depo- off Ton- Grade oz off Ton- Grade oz off Ton- Grade oz
sit (g/t) nes (g/t) Gold (g/t) nes (g/t) Gold (g/t) nes (g/t) Gold
----------------------------------------------------------------------------
Tom's
Gul- 496, 175, 184,
ly 3.65 900 11.0 100 3.65 400 11.4 67,500
----------------------------------------------------------------------------
Resources include reserves

COSMO UNDERGROUND DEVELOPMENT PROJECT - This is one of the Company's
most significant projects, representing a substantial portion of the
total reserves and resources (see Table 4 - Cosmo Reserves/Resources).
The orebody has a strike length of at least 450 metres and continues to a
depth of 800 metres. It remains open along strike and at depth and the
current program is aimed at testing for extensions at depth and along
strike. Geological modelling and geophysical data together with historic
drill intersections suggest that the Cosmo system remains robust to
considerable depth as the mineralised lodes "follow" the north-plunging
host stratigraphy.

Table 4: Cosmo Reserves/Resources
----------------------------------------------------------------------------
Reserves Probable Mineral Reserve
----------------------------------------------------------------------------
Deposit Cut-off (g/t) Tonnes Gold Grade (g/t) Contained oz Gold
----------------------------------------------------------------------------
Cosmo 3.2 2,200,000 5.0 350,000
----------------------------------------------------------------------------
Gold Price: $US 775/oz; $A:$US 0.80
----------------------------------------------------------------------------
Measured Mineral Indicated Mineral Inferred Mineral
Resource Resource Resource
----------------------------------------------------------------------------
Cut- Gold Cut- Gold Cut- Gold
Depo- off Ton- Grade oz off Ton- Grade oz off Ton- Grade oz sit
(g/t) nes (g/t) Gold (g/t) nes (g/t) Gold (g/t) nes (g/t) Gold
----------------------------------------------------------------------------
4,244, 670, 4,503, 570,
Cosmo 2.0 000 4.9 000 2.0 000 3.9 000
----------------------------------------------------------------------------
Resources include reserves

Over the coming weeks, the Company intends to provide more specific
details on the nature of these individual projects, their potential and
exploration results from the current program as they become available.

Please refer to the Crocodile Gold and Franc-Or Information Circular of
September 30, 2009 filed on SEDAR for details regarding the NI 43-101
compliant reserve and resource estimates of the deposits described above
in this release.

Qualified Person

Alfred John Gillman of Odessa Resources Pty Ltd and Fleur Louise Muller
of Geostat Services Pty Ltd are the "qualified persons" as such term is
defined in National Instrument 43-101 and have reviewed and confirmed the
data included in this press release.

About Crocodile Gold

Crocodile Gold is a Canadian company that has completed the acquisition
of recent past producing gold assets in the Northern Territory of
Australia. The assets comprise an area greater than 3,500 square
kilometres and are located approximately 90 to 285 kilometres south of
the capital city, Darwin, and include the Burnside Project, Tom's Gully
Project and Maud Creek Project. The property contains 3.0 million ounces
of NI 43-101 compliant measured and indicated resources (40.9 million
tonnes at an average grade of 2.3 g/t gold), and 1.8 million ounces of
inferred resources (25.9 million tonnes at an average grade of 2.3 g/t
gold). (See Management Information Circular dated October 5, 2009 and
Crocodile Gold Press Release dated September 8, 2009). The Burnside
Project includes the Brocks Creek underground mine, the Chinese open pit
mine and several additional deposits along the Cosmo/Chinese corridor,
including the undeveloped Cosmo underground deposit. The Tom's Gully
Project includes the Tom's Gully underground mine and the former Mt Bundy
(Rustler's Roost) Mine. Crocodile Gold operates the 8,000 tpd Union Reefs
mill and the 800 tpd Tom's Gully mill. Crocodile Gold plans to produce
over 100,000 ounces of gold in 2010 and over 200,000 ounces in 2011.
Crocodile Gold trades under the symbol CRK on the Toronto Stock Exchange.

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 management's assessment of Crocodile Gold's
future plans and operations 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 licenses, 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 which 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; 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, 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.
Ashleigh Meyer
Manager, Investor Relations
416-861-5899
info@crocgold.com
www.crocgold.com

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