NEW YORK, Feb. 7, 2012 /CNW/ - Luxor Capital Group, LP ("Luxor"), announced that as of 5:00 p.m. (Toronto time) today, the offer (the "Offer") by Armant, LLC

(the "Offeror"), an affiliate of investment funds managed by Luxor, to purchase up to 215,386,435 of the issued and outstanding common shares ("Common

Shares") of Crocodile Gold Corp. ("Crocodile Gold") not owned by the Offeror or its affiliates (the "Luxor Group") at a price of $0.62 per share, expired. At the

expiry time, an aggregate of approximately 170,618,271 Common Shares which, together with the Common Shares already owned or controlled by the Luxor

Group, represents approximately 70% of the outstanding Common Shares, were validly deposited under the Offer. As all of the terms and conditions of the Offer

have been satisfied, investment funds affiliated with the Offeror have taken-up and accepted for payment all of the deposited Common Shares in accordance with

the terms of the Offer.

Immediately following the take-up of the Common Shares deposited under the Offer, the Luxor Group has beneficial ownership of, and exercises control or

direction over, 218,897,966 Common Shares and 17,087,588 warrants of Crocodile Gold, which represent approximately 71% of the outstanding Common Shares

(after giving effect to the exercise of the warrants). The Common Shares taken-up by the Luxor Group under the Offer represent approximately 54% of the

outstanding Common Shares.

This news release contains summary information only about the Offer. Complete information about the Offer is contained in the Offer and related take-over bid

circular (and other documents related to the Offer), copies of which are available at

Luxor Capital Group, LP

Norris Nissim

1114 Avenue of the Americas

29th Floor

New York, New York 10036

Tel: 212-763-8000

Information Agent

Laurel Hill Advisory Group

366 Bay Street, Suite 200

Toronto, Ontario

M5H 4B2

Canada

North American Toll Free: 1-877-452-7184

Banks and Brokers and collect calls outside North America: (416) 304-0211

Email:

CO: Luxor Capital Group, LP

CNW 20:03e 07-FEB-12