GoldMinerPulse Report: Crocodile Gold Corp. Metal Value

Crocodile Gold Corp. (CRK) NI 43-101 Metal Value Report

Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,700 square kilometres. [Source: company website (viewed April 2011)]

CAUTION: This report does not reflect the additional resources and reserves detailed in Crocodile Gold Adds 310,000 Gold Ounces to Mineral Reserves and 776,000 Gold Ounces to Mineral Resources at Its Northern Territory Properties a April 26, 2011 press release. This report will be updated once ore grade and ore quantity details are disclosed.

The Crocodile Gold Corp. website is at www.crocgold.com.

Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts | Canadian Insider Trading

More Information Links:

Crocodile Gold Corp Valuation Blog (updated daily).

GoldMinerPulse Report Proven + Probable Percentage Exception:

The Burnside and Tom's Gully projects have Probable Mineral Reserves totally 545,000 ounces. Since these Probably ounces have are inclusive of the Indicated Mineral Resources reported below, the Probable reserves are not shown separately since all GoldMinerPulse reports only show Measured + Indicated Resources that are exclusive of Proven + Probable Reserves.

GoldMinerPulse Metrics Summary

This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-03-01.

The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.

**Crocodile Gold Corp. Metric Summary**
General Metric	Value on 2012-02-03
In Situ Metal Value per Share (MVpSh)	US$28.39
Average Ore Value per Tonne	US$102.09
Metal Value Leverage (MVL)	47.00
Market Capitalization as a Percentage of Metal Value	2.1%
Recent Closing Stock Price	C$0.6 [note 1]
Fully Diluted Share Count	386.23 M [note 2]
Percentage In Situ Proven + Probable Reserve	0%
Percentage In Situ Measured + Indicated Resource	60%
Percentage In Situ Inferred Resource	40%

**Gold Specific Metrics**
Metric	Value on 2012-02-03
Gold Reserves + Resources	5.96 M oz
Average Gold Ore Grade	1.7 g/t
Market Capitalization per oz of Gold In Situ	US$39.13 ( C$38.86 )
Gold Equivalent Ounces Estimate	6.35 M oz
Market Capitalization per oz of Gold Equivalent	US$36.72 ( C$36.47 )

Note 1: Conversion rate used: 1 Cnd$ = 1.00682 US$
Note 2: Fully diluted share count estimated based on the counts from the Crocodile Gold Corp Share Structure web page (viewed April, 2011).

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE)

All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.

**Metal Summary Based on Closing Prices on 2012-02-03**
Metric / Metal	Gold	Silver	Copper	Lead	Zinc
Total Counts (reserves + resources)	5.96 M oz	10.30 M oz	6.03 K t	24.14 K t	104.17 K t
Metal Prices in US$ (from 2012-02-03)	$1,725.90 / oz	$33.63 / oz	$3.89 / lb	$1.00640 / lb	$0.96490 / lb
Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count	$26.65	$0.90	$0.13	$0.14	$0.57
Percentage of Total Metal Value	93.86%	3.16%	0.47%	0.49%	2.02%
Metal Value Percentage Proven + Probable	0%	0%	0%	0%	0%
Metal Value Percentage Measured + Indicated	64%	0%	0%	0%	0%
Metal Value Percentage Inferred	36%	100%	100%	100%	100%

The above metal value totals derive from the following projects.

**Project/Deposit/Mine Summary Based on Closing Prices on 2012-02-03**
Project	Location	Metal Value per share (% total)	Average Ore Value US$/t	Gold	Silver	Copper	Lead	Zinc	MI%	I%
Burnside	Northern Territory, Australia	$14.41 ( 50.8% )	US$145.03	2.83 M oz	10.30 M oz	6.03 K t	24.14 K t	104.17 K t	44%	56%
Mt. Bundy	Northern Territory, Australia	$4.65 ( 16.4% )	US$49.94	1.04 M oz					64%	36%
Maud Creek	Northern Territory, Australia	$4.51 ( 15.9% )	US$168.00	1.01 M oz					92%	8%
Tom's Gully		$2.24 ( 7.9% )	US$66.59	501.55 K oz					100%	0
Pine Creek	Northern Territory, Australia	$2.08 ( 7.3% )	US$102.01	465.47 K oz					61%	39%
Union Reefs	Northern Territory, Australia	$0.50 ( 1.8% )	US$106.84	111.67 K oz					20%	80%

PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors

Burnside

Latest NI43-101 Report: RESOURCE UPDATE HOWLEY PROJECT
2010-03-12 (89 pages).

Updates: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Project Location: Northern Territory, Australia. View the Howley project on a Google Map.

Average Ore Value (all estimate types): US$145.03

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.53	566.82 K oz	1.540 g/t	11.45 M t

Estimate notes: Howley Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
NOTE: Inclusive of the 68K ounces of gold that are in the Probable mineral reserve category.
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.15	257.74 K oz	1.520 g/t	5.27 M t

Estimate notes: Howley Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Measured

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.01	3.34 K oz	17.300 g/t	6.00 K t

Estimate notes: Brooks Creek Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
3.0 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.07	16.77 K oz	11.100 g/t	47.00 K t

Estimate notes: Brooks Creek Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
NOTE: Inclusive of the 7.4K ounces of gold that are in the Probable mineral reserve category.
3.0 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.10	21.36 K oz	9.100 g/t	73.00 K t

Estimate notes: Brooks Creek Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
3.0 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.99	668.59 K oz	4.900 g/t	4.24 M t

Estimate notes: Cosmo Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
NOTE: Inclusive of the 350K ounces of gold that are in the Probable mineral reserve category.
2.0 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.52	564.62 K oz	3.900 g/t	4.50 M t

Estimate notes: Cosmo Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
2.0 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.09	20.34 K oz	1.400 g/t	452.00 K t

Estimate notes: North Point Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
NOTE: Inclusive of the 12K ounces of gold that are in the Probable mineral reserve category.
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.09	20.34 K oz	1.400 g/t	452.00 K t

Estimate notes: North Point Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.06	13.41 K oz	1.400 g/t	298.00 K t

Estimate notes: Princess Louise Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.06	13.47 K oz	1.100 g/t	381.00 K t

Estimate notes: Princess Louise Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.26	58.65 K oz	1.400 g/t	1.30 M t

Estimate notes: Rising Tide Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.17	36.99 K oz	1.300 g/t	885.00 K t

Estimate notes: Rising Tide Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.08	18.36 K oz	1.700 g/t	336.00 K t

Estimate notes: Fountain Head Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.08	18.29 K oz	1.800 g/t	316.00 K t

Estimate notes: Fountain Head Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.23	51.60 K oz	2.500 g/t	642.00 K t

Estimate notes: Tally Ho Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.11	24.24 K oz	2.900 g/t	260.00 K t

Estimate notes: Tally Ho Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.28	63.03 K oz	2.900 g/t	676.00 K t

Estimate notes: Kazi Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
1.0 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.36	80.57 K oz	1.400 g/t	1.79 M t

Estimate notes: Western Arm Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
1.0 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.24	53.40 K oz	1.600 g/t	1.04 M t

Estimate notes: Bridge Creek Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
1.0 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.19	43.40 K oz	2.500 g/t	540.00 K t

Estimate notes: Bon's Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.7 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.03	6.80 K oz	0.900 g/t	235.00 K t

Estimate notes: Low Grade Stockpiles Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.95	212.38 K oz	2.080 g/t	3.18 M t
Silver	$0.90	10.30 M oz	100.900 g/t	3.18 M t
Copper	$0.13	6.03 K t	1,900.000 g/t	3.18 M t
Lead	$0.14	24.14 K t	7,600.000 g/t	3.18 M t
Zinc	$0.57	104.17 K t	32,800.000 g/t	3.18 M t

Estimate notes: Iron Blow Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Maud Creek

Latest NI43-101 Report:
( pages).

Updates: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Project Location: Northern Territory, Australia. View Maud Creek project on a Google Map.

Average Ore Value (all estimate types): US$168.00

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.14	925.71 K oz	3.100 g/t	9.29 M t

Estimate notes: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
1.0 g/t cut off grade

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.37	82.72 K oz	2.400 g/t	1.07 M t

Estimate notes: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
1.0 g/t cut off grade.

Mt. Bundy

Latest NI43-101 Report: Overview of the Geology, Mineral Resources & Mineral Reserves & Exploration Potential of the Northern Territory Gold Properties (Burnside Gold & Base Metals Project; Tom's Gully Gold Project)
2009-07-12 (355 pages).

Updates: Crocodile Gold Announces Significant Resource Increase At Mt. Bundy Project, December 2, 2010.

Project Location: Northern Territory, Australia. View Toms Gully project on a Google Map.

Average Ore Value (all estimate types): US$49.94

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.99	668.41 K oz	0.900 g/t	23.10 M t

Estimate notes:
0.5 g/t cut off grade

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.67	373.27 K oz	0.900 g/t	12.90 M t

Estimate notes: See Indicated note.
0.50 g/t cut off grade.

Pine Creek

Latest NI43-101 Report:
( pages).

Updates: Updated from Crocodile Gold Identifies Significant Resource Increase at Pine Creek October 2010 News Release

Project Location: Northern Territory, Australia. View the Pine Creek project on a Google Map.

Average Ore Value (all estimate types): US$102.01

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.27	284.37 K oz	1.600 g/t	5.53 M t

Estimate notes: See October 2010 update totals.
0.5 g/t cut off grade

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.81	181.10 K oz	2.400 g/t	2.35 M t

Estimate notes:

Tom's Gully

Project Location: .

Average Ore Value (all estimate types): US$66.59

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.24	501.55 K oz	1.200 g/t	13.00 M t

Estimate notes: Mt Bundy (Rustler's Roost) Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Union Reefs

Latest NI43-101 Report:
( pages).

Updates: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

Project Location: Northern Territory, Australia. View the Union Reefs project on a Google Map.

Average Ore Value (all estimate types): US$106.84

Indicated

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.10	21.79 K oz	2.700 g/t	251.00 K t

Estimate notes: Prospect Claim Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.60 g/t cut off grade

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.00	0.18 K oz	1.900 g/t	3.00 K t

Estimate notes: Prospect Claim Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).
0.6 g/t cut off grade.

Inferred

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.40	89.70 K oz	1.800 g/t	1.55 M t

Estimate notes: Esmeralda Deposit: Crocodile Gold Mineral Resource Statement - January 25, 2010, web page (viewed June 2010).

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