Crocodile Gold Board Advises Shareholders to TAKE NO ACTION at This Time as Discussions With Luxor to Improve the Current Offer Are Ongoing and Alternatives Continue to Be Explored

TORONTO, ONTARIO--(Marketwire - Jan. 9, 2012) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") announces that it has mailed its directors' circular (the "Directors' Circular") in response to the offer (the "Luxor Offer") from Armant, LLC, an affiliate...