Annual Technical Report on MCN 3839 to MCN 3844 Yeuralba Project (Eva Valley) GR191/12 for period 16 July 2012 to 15 July 2013

Abstract

The Yeuralba group of tenements is situated about 68km north east of Katherine NT, and 3km north of the old Eva Valley (Manyallaluk) homestead. Crocodile Gold Australia Pty Ltd acquired the Yeuralba Group of tenements (MCNs 3839 - 3844) on 6 November 2009 after purchasing assets held by GBS Gold Australia Pty Ltd (liquidated). The tenements cover a prospective sector of the Tollis Formation volcanics, grey-wackes, Maud Dolerite and banded ironstones striking NNW. The sequence is truncated to the north-west by faulting and by outcrops of Eva Valley Granite, a fine grained biotite leucogranite. To the west, the Tollis Formation is intruded by Yeuralba Granite that has greisenised parts at the contact zone. The Copper Flower prospect has been explored for gold and base metals mineralisation since the mid-1960s. A small historic mineral resource was reported for the Copper Flower prospect in the late 1980's, this was around 130,000 tonnes at an average grade of 1.86g/t gold and 0.93% copper. No on ground exploration activities were completed for the reporting period, however some document reviews were completed. Also during the reporting period an agreement was signed between Crocodile Gold and Pitchblack Resources for an earn-in right for this project. If Pitchblack spend a total of $4 million on exploration on this, and other, titles they will earn a 90% stake in the project. Crocodile Gold also investigated the possibility to convert these Mineral Claims into Mineral Leases to comply with the new Mineral Titles Act (2010), however this was not completed during the reporting year due to a conflict between the Mineral Titles Act and the Aboriginal Land Rights Act (1976). Until such time as the Department of Mines and Energy alter their policies and/or legislation, these Mineral Claims Northern will remain non-compliant titles. Exploration activities for the next reporting period will include a review of the Yeuralba tenements with a particular interest in the Copper Flower prospect. Geologist will also conduct a field visit and take rock chip samples if possible. A review of historically mining activities may also be completed.