Annual exploration report EL 23174 Au Quest Project year ending 18 September 2010

Abstract

During the year under review, Crocodile Gold Australia took over the control of EL 23174 and other assets held by GBS Gold Australia (liquidated), and commenced mining, processing and exploration activities in the region. The new owner embarked on the due diligence of all the assets including EL 23174. Crocodile Gold regards EL 23174 highly due to its close proximity to the Toms Gully gold mine and having extension of similar geological structures which host gold mineralisation. An in-depth review of the Toms Gully and Rustler's Roost project is underway to commence mining and processing activity in the area and EL 23174 will play an important role for the supply of ore to the Toms Gully mill. Furthermore, the tenement also holds good potential for uranium and base metals mineralisation which will be explored with the help of JV partners. Other activities included: a reconnaissance visit, technical review of the tenement, planning for up-coming field season and report writing and tenement management activities.