Corporate Presentation September 2013

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2012 Milestones

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Given the recent softening in gold prices, Crocodile Gold has done an extensive review of its operations and projects to identify further opportunities

1. Continual Operational Review

• Operating Costs

• Consolidation of shared services in Victoria (SGM & FGM)

• Streamlined management structure at the operations (NT & SGM)

• Capital Expenditures

• Limit capital expenditures to mine development with minimal $ spend on infrastructure

• Redistribution of assets within the group, from SGM to FGM and Cosmo, reducing capital expenditures (mobile equipment, electrical equipment, etc)

• Assets sale at SGM

• On-going optimization of Cosmo, using experience of SGM & FGM

2. Projects Review

• Exploration drilling limited to on-mine resources conversion; no greenfield

• Moving ahead only on Big Hill project at this time

• Reassessing appropriate timing for UR Prospect and Pine Creek

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Actual

Forecasted 155,524

181,214

0

50,000

100,000

150,000

200,000

0

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20,000

30,000

40,000

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70,000

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Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 Q3 '13 (E)

Q4 '13 (E)

Cu

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2012/2013 Production

Quarterly Cumulative

$2,028

$1,167 $1,176 $998

$1,150 $1,101 $1,075 $1,000

$0

$500

$1,000

$1,500

$2,000

$2,500

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013(E) Q4 2013(E)

2012/2013 Cash Costs

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Fosterville Processing Facility

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Stawell Gold mine is an underground operation located alongside the town of Stawell, in central Victoria, approximately 250 km west of Melbourne. Processing facilities use standard CIL gold recover and have a capacity of 1.0MM TPA

Stawell Processing Facility

• Produced 73,000 oz Au in 2012

• Confirmed opportunity to economically treat historical surface stockpile until mid 2014

• Decision to ramp-down underground mining activities by mid 2013

Next Steps

• Exploring opportunities within the existing mining lease

• Engagement with local stakeholders and community Stawell 2012 Performance

Ore Milled (Tonnes) 850,017

Average Grade (g/t Au) 3.06

Recovery(%) 86.1

Gold Produced (Ounces) 72,602

Gold Sold (Ounces) 74,552

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South

Gandy’s

Big Hill Pit

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Stawell Mill

Big Hill Project

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$(30,000,000)

$(20,000,000)

$(10,000,000)

$-

$10,000,000

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$30,000,000

$40,000,000

$50,000,000

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Mine operating earnings (loss) Operating Cash Flow

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• C$34.5 million of unsecured 8% convertible debentures were issued for net proceeds of C$31 million

• Cash raised will be used to fund Exploration Projects and General Corporate Expenses

• Debentures are trading on the secondary market under the symbol CRK.DB

Debt—Credit Suisse Credit Facility

• Unwound gold swap (hedge) position in April 2013

• Net proceeds of A$57.8 million were used to pay off outstanding credit facility

• Remaining A$11.5 million debt to be repaid in 18 monthly installment of $630,000 from April 2013 to October 2014

$1,150

$1,200

$1,250

$1,300

$1,350

$1,400

$1,450

$1,500

$1,550

$1,600

Gold Price (AUD)

April 16, 2013: CRK Unwinds Gold Swap

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$0.00

$0.05

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$0.25

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$0.35

$0.40

$0.45

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Add bullets

$52.70

$25.61

$0.00

$50.00

$100.00

$150.00

$200.00

TGZ OGC EDV RSG BAA Median GSC JAG SBM ORA CRK

1.0x

0.8x 0.8x 0.8x 0.7x 0.7x0.6x

0.6x

0.3x 0.3x

RSG TGZ OGC SBM GSC JAG EDV BAA ORA CRK

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17 *Please refer to cautionary language on page 2 of this presentation

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