UPDATE 1-Crocodile Gold lifts resource estimate for Pine Creek

* Indicated resource estimate quadruples to 288,600 ounces

* Looking to develop one or more deposits by early 2011

Oct 14 (BestGrowthStock) – Canadian gold miner Crocodile Gold Corp
(CRK.TO: ) raised its mineral resource estimate for its Pine
Creek project in Australia by more than four-fold and said it
plans to accelerate development in the area.

The company, which backed its full-year production outlook
last week, said its indicated resource estimate for the Pine
Creek project was 288,600 ounces, up from its prior view of
69,600 ounces of gold.

“We believe one or more deposits can be brought into
production by early 2011 with minimal capital requirements,”
Chief Operating Officer David Keough said, citing lower
operating cash costs due to the proximity of the project to its
Union Reefs mill.

Toronto-based Crocodile Gold’s shares, which have gained
more than half of their value in the last month, closed at
C$1.53 Wednesday on the Toronto Stock Exchange.
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Anne
Pallivathuckal)

UPDATE 1-Crocodile Gold lifts resource estimate for Pine Creek