2009 Crocodile Gold 43-101 announcement on Iron Blow Project

Abstract

September 8, 2009 ? Crocodile Gold Inc. today announces an initial National Instrument 43-101 compliant inferred resource estimate on its polymetallic Iron Blow project in the Northern Territory of Australia. The estimated inferred resource at Iron Blow is 3,174,876 tonnes grading 2.08 g/t gold, 100.9 g/t silver, 0.76% lead, 3.28% zinc, and 0.19% copper. The contained gold content of the resource is 210,000 ounces of gold. The mineralization occurs in six distinct lodes within the deposit. The mineralization remains open at depth and along strike, and there is potential to expand the scope of this resource based on the nature of mineralization. The resource estimate was prepared by Odessa Resources Pty Ltd and Geostat Services Pty Ltd. It is based on six diamond drill holes totalling 1,803.3 metres of HQ-diameter diamond drill core with mineralization ranging from 60 metres to 230 metres below surface occurring within six distinct lodes. The resource estimate is stated at a cut-off grade of 1.0 g/t gold and has been estimated using inverse distance squared interpolation of blocks within each lode. The average specific gravity used was 3.4 tonnes per cubic metre. Lode wireframes were delineated from sectional outlines to represent all mineralizaton. The wireframed lodes extend over a 200 metre strike length and a maximum down-dip extent of 230 metres. Further drilling will help in determining the ultimate size and potential of the deposit.

Mike Hoffman, President and CEO of Crocodile Gold commented, ?The new inferred resource at Iron Blow shows the continued prospectivity of our 3,500 km2 tenement package in the Northern Territory of Australia. We initiated a $9 million exploration program in early August in a number of areas to increase the confidence level of resources and to increase the overall resource.?

Iron Blow is a stratabound polymetallic massive sulphide deposit located 12 kilometres to the east of Brocks Creek underground mine in the Burnside tenement package located approximately 150 kilometres south of Darwin in the Northern Territory of Australia. Mineralization includes gold, lead, zinc, silver and copper occurring within lodes oriented in a north-south direction steeply dipping at approximately 70 to the east. Iron Blow has had historical small scale underground and open pit production.