TORONTO, ONTARIO, Mar. 16, 2010 (Marketwire) -- Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") today announces that Mr. David Keough has been appointed the Chief Operating Officer of Crocodile Gold effective April 19, 2010. Mr. Keough will succeed Mr. Grant Davey who has resigned for personal reasons.
Mike Hoffman, President and CEO, commented, "We welcome David to the Crocodile Gold team and look forward to working with him as we continue to develop our projects and expand production at our operations in Australia. David has held senior management positions with several mid to large cap gold mining companies and has extensive experience in both open pit and underground operations. We are confident that he will transition into his new role quickly and will be a great asset to our management team."
David has held several senior leadership positions with companies including Goldcorp (South America), Wheaton River (Asia Pacific), Minera Alumbrera Ltd. (Argentina) and Placer Dome Inc. (Asia Pacific). David has been involved in the mining industry for more than 25 years and brings international and Australian experience in mining and exploration, project evaluation, feasibility studies, construction and project and business development. He has extensive operational experience in both large open pit and underground precious metal mines. David possesses solid expertise in occupational health and safety, community and government relations, environmental management and sustainable development projects. He holds a B.Sc (Applied Science) and Post Graduate qualifications in Mineral Economics and Mining Law and is a Registered Mine Manager in the state of Western Australia.
"We would also like to take the opportunity to thank Grant for his contributions and dedication to Crocodile Gold. He has played a key role since the Company's formation and has been instrumental in the progress of Crocodile Gold and bringing the operations back into production. We wish him the best in his future endeavours," commented Mr. Hoffman.
Qualified Person
Alfred John Gillman of Odessa Resources Pty Ltd 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.
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 3.09 million ounces of NI 43-101 compliant measured and indicated resources (42.9 million tonnes at an average grade of 2.3 g/t gold), and 1.94 million ounces of inferred resources (26.7 million tonnes at an average grade of 2.3 g/t gold) (See Management Information Circular dated October 5, 2009 and Crocodile Gold Press Releases dated September 8, 2009 and January 25, 2010). The Burnside Project includes the Brocks Creek underground mine, the Howley open pit mine and several additional deposits along the Cosmo/Howley 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 owns the 8,000 tpd Union Reefs mill and the 800 tpd Tom's Gully mill. Crocodile Gold trades under the symbol CRK on the Toronto Stock Exchange, CROCF on OTCQX and XGC on the Frankfurt 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, operations 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 (NTD: needs to be updated to conform with the above). 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; 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, 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.
