Mr. Michael Hoffman reports

CROCODILE GOLD ANNOUNCES 4TH QUARTER PRODUCTION OF 22,300 OUNCES DESPITE ONE OF THE WETTEST QUARTERS ON RECORD-2010 PRODUCTION OF 81,800 OUNCES

Crocodile Gold Corp. had fourth-quarter production of 22,351 ounces and 2010 annual production of 81,793 ounces.

Highlights include:

• Crocodile milled 518,475 tonnes at a grade of 1.49 grams per tonne gold in the fourth quarter of 2010, to produce 22,351 ounces at a recovery of 91.4 per cent. Of note, ore milled in October was 196,000 tonnes, before the wet season began to impact mill throughput.
• Gold poured during the fourth quarter of 2010 was 23,300 ounces, despite the Northern Territory of Australia experiencing one of its wettest quarters on record.
• During 2010, a total of 1,856,180 tonnes at a grade of 1.55 grams per tonne gold were milled to produce 81,793 ounces, for an overall recovery of 88.4 per cent. Higher-than-normal monsoonal rains in December negatively affected both mine production and mill throughput. There were eight days of lost production in December at Howley as higher-grade ore at the bottom of the pit was inaccessible, reducing production by approximately 2,000 ounces in the last half of December. In addition, 40,000 fewer tonnes were milled in December due to rainfall-related production issues.
• The company focused on selectively mining higher-grade areas to offset production difficulties caused by abnormally high rainfall. The current long-term weather outlook for the monsoonal season, which typically ends in March, indicates that there will be further above-average rainfall in the first quarter of 2011.
• Production during the fourth quarter of 2010 came from the Brocks Creek underground mine, and the Howley, North Point and Princess Louise open pits.
• Crocodile Gold continued to work with the various government agencies to finalize permits for mining the International open pit in the Pine Creek North area.
• Crocodile Gold is ready to begin dewatering the Cosmo open pit upon approval of final discharge permits expected shortly.
• During the fourth quarter of 2010, total underground development at Cosmo was 140 metres. The focus was on developing and installing the required underground infrastructure, including electrical and water reticulation. Total underground development in 2010 was 562 metres.
• The Cosmo mine development and production contract was put out to tender and the company received a number of very competitive bids, including a significant cost savings for the next two years. Awarding of this tender is anticipated to occur early in the first quarter of 2011.
• Crocodile Gold expects to provide production guidance for 2011 shortly.
• Crocodile Gold expects to provide an update on the reserves and resources in mid-February.

In releasing this information, Mike Hoffman, president and chief executive officer of Crocodile Gold, commented: "Our fourth-quarter results continue to reflect the steady progress we are making at our operation since we began commercial production on June 1, 2010. Our priority remains bringing the Cosmo underground mine to production in mid-2011 and to develop new sources of production in the Union Reefs/Pine Creek area."

Qualified person, David Keough, MAusIMM, of Crocodile Gold, Australia operations, 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 news release.

We seek Safe Harbor.