Annual Technical Report MCN 4145, MCN 4146, MCN 4149, MCN 4150, MCN 4151, MCN 4152, MCN 4218, MCN 4219, MCN 4220, MCN 4221, MCN 4222, MCN 4223, MCN 4224, MCN 4225, MCN 4343, MCN 4344, MCN 4345, MCN 4346, MCN 4347, MCN 4348 and MLN 1978 Maud Creek Project for period 16 June 2011 to 15 June 2012

Abstract

The Maud Creek Project is situated 18km east of the town of Katherine NT and 275km south east of Darwin. It also includes Red Queen/Chessman group of tenements. Ownership of the tenements has changed several times with Terra Gold Mining acquiring the tenements in 2005. GBS Gold International acquired Terra Gold Mining Ltd on 7th November 2005. GBS Gold Australia went into voluntary administration on 15 September 2009 and all assets including Maud Creek Group of tenements were placed under care and maintenance. After meeting statuary and regulatory requirements, Crocodile Gold Australia Pty Ltd secured the control of all assets including Maud Creek Group of tenement in November 2009. Within the Maud Creek project area, the oldest exposed rocks are the Palaeoproterozoic Tollis Formation, which comprise tuffs, greywacke, mudstone, laminated quartz arenites and thin banded ironstone. Thick sills of Maud Dolerite have intruded the Tollis Formation. The Maud Dolerite forms irregular bodies up to 200m wide, and the western margin is strongly sheared and quartz-veined, with well-documented gold and copper mineralisation. Unconformably, overlying the Tollis Formation is the volcanics and sandstones of the Edith River Group. The Kombolgie Formation Unconformably overlies both of the above units, and characteristically crops out as tablelands and mesas. The Cambrian Antrim Plateau Volcanics cover much of the Proterozoic rocks to the south and west of the Maud Creek area. Gold is fine-grained and is associated with pyrite, chalcopyrite and secondary copper mineralisation. At the Red Queen/Chessmen prospect gold occurs within mafic fragmental volcanic rocks as well as black chert and arenaceous sediments characterised by pyritic mafic fragmental rocks, possibly part of the Dorothy Creek Volcanic Member. Maud Creek has a reported resource of 935,000oz contained Au. This is currently under review and will be up-dated in the next reporting period Exploration activities for the reporting period included the capture of new geophysical data from a VTEM survey similar to that flown over other projects for Crocodile Gold. During the reporting year to company also drilled 6 RC holes for 300m and 6 Diamond holes for 3,179.3m. Several field trips were also conducted during the year to assess drilling access and suitability. Some site rehabilitation was also conducted during the reporting period For the coming year, Crocodile Gold plans to drill several diamond holes for metallurgical test-work across MLN 1978. Crocodile Gold is also planning to conduct site visits to several noted Geophysical targets generated from the VTEM survey flown in 2011. This will include field mapping and sampling as required. A regional stream sampling program is also planned for the coming reporting period.