Annual Technical Bridging Report MLN 1059 Moline Group of Deposits 16 August 2012 to 15 August 2014

Abstract

MLN 1059 is a strategic project within Crocodile Gold Australia's portfolio which is located about 240 km SE of Darwin. It covers Moline Gold Field (e.g Hercules, School, Moline and Tumbling Dice) which is located about 220 km SE of Darwin. Crocodile Gold purchased this tenement from the receivers of GBS Gold. Transfer of the title was not completed until August 2011 due to issues outside the control of Crocodile Gold. During the reporting period this title was under the name of Michael Teelow but was managed by Crocodile Gold. The tenement encompasses a suite of meta-sedimentary rocks which belong to the Burrell Creek and Mt Bonnie Formations. Locally these rocks are isoclinally folded with fold axes plunging at shallow angles to the south east. Mineralisation is found in zones of pyrite, quartz, and brecciated country rock with minor veinlets of sphalerite, tetrahedrite, arsenopyrite, chalcopyrite and carbonates. During the reporting period no work was completed on MLN 1059. However, Crocodile Gold did enter into a Farm-In joint venture agreement with Phoenix Copper. The agreement, which includes MLN 1059, allows Phoenix access to the Moline Project area. This agreement was signed in August 2014. Phoenix will take over management of the title in the coming year and are planning to conduct XRF sampling, mapping and other field reconnaissance work over the next 12 months.