Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
ORONTO, ONTARIO–(Marketwired – May 24, 2013) – Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) (“Crocodile Gold” or the “Company”) today announced that Chantal Lavoie, President and Chief Executive Officer and Chairman of the board of the Company, has notified the board of directors of the Company (the “Board”) of his intention to resign from his positions with the Company effective June 30, 2013, for personal reasons, in order to spend more time in Canada. The Board thanks Mr. Lavoie for his service and contributions to the Company.
The Board has formed a search committee, which has begun the process of identifying potential candidates both internally and externally, to fill the Chief Executive Officer position. The Company’s mining operations are well managed by local General Managers and will continue to operate as normal, with annual production guidance remaining the same as disclosed in its recent quarterly report.
About Crocodile Gold
Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in both the Northern Territory and the State of Victoria in Australia. The Company has a combined land package in excess of 4,000 sq. km. The objective ofCrocodile Gold is to continue production from its three operating mines, Cosmo, Stawell and Fosterville, while also advancing exploration programs to further organic growth. For additional information, please visit our website www.crocgold.com
Follow us on Twitter (@crocgold_crk) or Facebook (www.facebook.com/CrocodileGoldCorp).
Rob Hopkins
Manager, Investor Relations
416-861-5899
