Crocodile Gold Commences Mining at Two Australian Mines

Crocodile Gold has commenced open pit mining activities at the Chinese South pit using G&K Akers Contractor of Howard Springs Darwin.

Underground mining activities have also commenced at the Brocks Creek underground mine using GBF underground mining contractors operating from Darwin. The intent is to advance ramp development to access sufficient working places to sustain production moving forward.

Gulf Transport of Darwin will be transporting ore between the mines and the Union Reefs mill.

The intention is to stockpile ore in November and to start milling activities at the Union Reefs mill in early December.

Grant Davey, Chief Operating Officer of Crocodile Gold commented, "We are pleased to begin mining activities again at Chinese and Brocks Creek and look forward to restarting the processing plant in December. We are grateful to our shareholders, local communities and the government of the Northern Territory for supporting our efforts. In addition, our employees have been working very hard over the last few months preparing to restart operations."

Crocodile Gold plans to produce over 100,000 ounces of gold in 2010 and over 200,000 ounces in 2011.

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 ounces 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 trades under the symbol CRK on the Toronto Stock Exchange.

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.

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.

To view the figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/crocodile.pdf