TORONTO, ONTARIO--(Marketwire - May 12, 2010) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") is pleased to announce diamond drill results from its Brocks Creek project in the Northern Territory of Australia (refer to Figure 1 below for location map). The project is currently the site of an ongoing underground diamond drill program which is part of the recently expanded US$23 million exploration program being conducted on the Company's extensive landholdings in the Northern Territory (refer to Crocodile Gold press release dated March 22, 2010).

Highlights of these drill results are:

--  Underground infill drilling confirms continuity of mineralization in
    areas with current indicated and inferred resources with intersections
    of up to 14.4 g/t Au over 4.1 metres and 13.7 g/t Au over 3.1 metres;
--  Surface drilling has confirmed that mineralization continues down-dip
    for at least 100 metres and remains open at depth with intersections of
    up to 15.3 g/t Au over 0.9 metres and 8.9 g/t Au over 3.3 metres.

Background

The Brocks Creek underground mine has historically produced 75,000 ounces of gold from 205,000 tonnes of ore grading 11.4 g/t Au. The mine is expected to be a relatively small, although important, contributor to the Company's production profile. Brocks Creek is expected to contribute 23,300 ounces of gold to Crocodile Gold's total 2010 production (refer to Crocodile Gold press release dated March 22, 2010).

As the mine currently has a limited resource, which is predominantly in the indicated and inferred categories, it is important to both demonstrate down-dip continuity and to upgrade existing resources to reserves.

The results obtained in striving towards these goals are summarized below.

Increasing Confidence in Existing Resources

These results include intersections from seven drill holes completed from underground, which are summarized in Table 1 below, and which show considerable grades over substantial thicknesses. Among the most significant intersections are 14.4 g/t Au over 4.1 metres in hole ZU725-05, 13.0 g/t Au over 3.8 metres in hole ZU725-07, and 13.69 g/t Au over 3.13 metres in hole ZU725-03 (Figure 2).

These results are significant as they confirm continuity of mineralization in the current resource area and also demonstrate the potential to upgrade the confidence level of these resources and ultimately to increase the level of reserves. Drilling is continuing from underground.

Extending Resources at Depth

The objective of extending resources at depth has been pursued with surface diamond drilling. Due to the ore body's relatively small strike length of 30 metres, surface drilling required the application of specialist navigational techniques. Subsidiary deflection or "daughter" holes were completed from an initial primary hole.

The results of this work were extremely encouraging with high grade mineralization intersected approximately 100 metres down-dip from the existing resources with intersections including 8.9 g/t Au over 3.3 metres in hole ZEDDH004W4 and 15.3 g/t Au over 0.9 metres in hole ZEDDH004W3A (Figure 2).

Summary

In releasing this information, President and CEO, Mike Hoffman, stated, "We are extremely pleased with these initial drill results from the Brocks Creek Mine. The results from the underground infill drilling indicate the potential to increase the confidence level of the existing resources and to increase the level of reserves. The results from the surface diamond drilling are expected to increase the overall level of resources in the inferred category and provide justification to advance the underground development in order to provide the access required for the additional underground drilling required to continue to upgrade the amount of, and confidence level in, the resources."

"The confirmation that the ore system continues at depth increases the viability of this operation which is the main near term source of high grade material for our operations."

Table 1: Brocks Creek Diamond Drill Results

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                                                                      Grade
Hole #                          Interval (m)        True Width (m) (g/t Au)
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                              From      To   Total
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Underground Holes
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ZU725-1                      44.78   45.27    0.49            0.25     1.77
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ZU725-2                      52.37   59.32    6.95            3.68      6.2
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including                    52.37   53.27    0.90            0.50    15.83
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and                          56.00   59.32    3.32            1.80     8.37
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ZU725-3                      53.87   59.85    5.98            2.04     8.30
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including                    53.87   57.00    3.13            1.10    13.69
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and                          59.00   59.85    0.85            0.30     7.70
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ZU725-4                      55.40   61.96    6.56            4.38     5.34
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ZU725-5                      69.00   73.09    4.09            3.73    14.38
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ZU725-6                      55.00   56.00    1.00            0.85    10.40
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ZU725-6A                     51.67   53.08    1.41            1.20     4.03
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ZU725-07                    139.00  144.10    5.10            4.65    10.33
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Surface Holes
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ZEDDH004W3A                 335.65   341.1    5.45            4.90     7.03
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and                         344.90  345.80    0.90            0.80    15.28
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ZEDDH004W4                  260.95  264.20    3.25            3.20     8.91
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and                         278.03  279.80    1.77            1.70     7.10
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Qualified Person

Alfred John Gillman of Odessa Resources Pty Ltd 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 press release.

Drill samples were assayed at Northern Australian Laboratories (NAL).

Results are based on 50g fire assays.

Sampling of diamond core carried out at variable intervals.

Top cut of 66 g/t Au applied.

Average grades have been determined using a lower cut off of 1 g/t Au over a 0.5m minimum width and maximum of 2m internal dilution.

All intersections are downhole intervals.

Downhole surveying by downhole camera.

Collar co-ordinates confirmed by survey pick-up.

About Crocodile Gold

Crocodile Gold is a Canadian company with the Howley and Brocks Creek operating gold mines in the Northern Territory of Australia and a land package of over 2,500km2. Crocodile Gold announced its first gold pour in December 2009 at its Union Reefs mill, started development work at the Tom's Gully underground mine in Q1 2010 and has commenced activities at Cosmo to prepare it for underground development beginning in mid-2010 with full production expected by the end of 2011. Crocodile Gold has two mills, including the 2.4 mtpy Union Reefs Mill and the 240 ktpy Tom's Gully mill. Crocodile Gold has 3.09 million ounces of NI 43-101 compliant measured and indicated resources (42.9 million tonnes at an average grade of 2.3 g/t gold) and 1.94 million ounces of inferred resources (26.7 million tonnes at an average grade of 2.3 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009 and January 25, 2010). The Company has an aggressive exploration program in place and is drilling on several key properties. There are numerous exploration targets that the Company is prioritizing.

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, operations and mineral resource estimates 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; the ability to secure adequate financing 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 Figure 1 and Figure 2, please visit the following link:

http://media3.marketwire.com/docs/crkmap512.pdf

FOR FURTHER INFORMATION PLEASE CONTACT:
        Crocodile Gold Corp.
		Michael Hoffman
        President and CEO
        416-861-2964

        Crocodile Gold Corp.
		Ashleigh Clelland
        Manager, Investor Relations
        416-861-5899
        info@crocgold.com

Source: Crocodile Gold Corp.