newmarket gold q2 2015 financial results presentation

TSX:NMI

Second Quarter 2015 Financial Results

July 30, 2015

2

Forward Looking Statements This presentation contains forward-looking information, including, but not limited to, guidance on estimated annual production and cash costs and information and expectations about the completion of the combination of Newmarket Gold Inc. (“Newmarket” or the “Company”) and Crocodile Gold Corp. (“Crocodile Gold”) and the offering and the intended participation of management and directors of Newmarket in the offering, the composition of the board of directors of resulting issuer and its senior executive team, future performance based on current results and past production, expected cash costs and mineral resource estimates. This forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and is subject to risks and uncertainties. These risks and uncertainties could cause Newmarket, Crocodile or the resulting issuer’s actual results to differ materially from the future results expressed or implied in this presentation. Such risks may include, without limitation: risks and uncertainties relating to the completion of the transactions as described herein, the ability to successfully integrate operations and realize the anticipated benefits of the Crocodile Gold acquisition; risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, unusual or unexpected geological formations, ground control problems and flooding; liabilities inherent in mine development and production; geological, mining and processing technical problems; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Newmarket’s expectations; ability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; various events that could disrupt operations and/or the transportation of mineral products, including labour disputes, shortages or stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing, the risk that management and directors of Newmarket may not ultimately participate in the offering to the extent anticipated, and management's ability to anticipate and manage the foregoing factors and risks. The forward looking information contained in this document is based on a number of assumptions including, but not limited to, the successful completion of the transaction on the terms as described herein; foreign currency rates; metal prices; estimation of mineral resources and reserves and the geology; grade, tonnage, dilution and metallurgical and other characteristics of ore; production capabilities and cost estimates. Newmarket uses certain non-GAAP performance measures in this presentation. These performance measures have no meaning under IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold (“AISC”) are non-GAAP measures that Newmarket uses as key performance measures to monitor performance and ability to generate cash flow. Management uses these statistics to assess how well Newmarket’s producing mines are performing compared to plan and to assess overall efficiency and effectiveness of the mining operations. Newmarket provides operating cash cost and AISC information as it is a key performance indicator required by users of its financial information in order to assess its profit potential and performance relative to its peers. The operating cash cost figure is calculated by deducting silver sales revenue as a by-product from operating expenses per the consolidated statement of operations, then dividing by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation, share-based payments and rehabilitation costs. AISC reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, Newmarkets’s definition conforms to the AISC definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. Newmarket believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations. Newmarket defines AISC as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), capital lease repayments, corporate general and administrative expenses, in-mine exploration expenses and rehabilitation accretion and amortization related to current operations. AISC excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, rehabilitation accretion and amortization not related to current operations, financing costs, debt repayments, share-based compensation not related to operations, and taxes. The information presented herein was approved by management of Newmarket on May 11, 2015. For further details of other risks and uncertainties see “Risk Factors” and “Cautionary Statements” in each of Newmarket’s Management’s Discussion and Analysis and Crocodile Gold’s Annual Information Form.

Note: All dollar amounts are in Cdn dollars unless otherwise denoted. The disclosure in this presentation uses mineral reserve and mineral resource classification terms that comply with reporting standards in Canada, and certain mineral resource estimates are made in accordance with Canadian National Instrument 43-101—Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the mineral reserve disclosure requirements of the United States Securities Exchange Commission (the “SEC”) set forth in Industry Guide 7. Consequently, information regarding mineralization contained in this presentation is not comparable to similar information that would generally be disclosed by U.S. companies in accordance with the rules of the SEC. In particular, the SEC’s Industry Guide 7 applies different standards in order to classify mineralization as a reserve. As a result, the definitions of proven and probable reserves used in NI 43-101 differ from the definitions used by the SEC in Industry Guide 7. Under SEC standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Among other things, all necessary permits would be required to be in hand or issuance imminent in order to classify mineralized material as reserves under the SEC standards. Accordingly, mineral reserve estimates contained in this presentation may not qualify as “reserves” under SEC standards. In addition, this presentation uses the terms “measured mineral resources,” “indicated mineral resources” and “inferred mineral resources” to comply with the reporting standards in Canada. The SEC does not recognize mineral resources and U.S. companies are generally not permitted to disclose mineral resources of any category in documents they file with the SEC. Investors are specifically cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves as defined in NI 43-101 or Industry Guide 7. Further, “inferred mineral resources” have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, investors are also cautioned not to assume that all or any part of an inferred resource exists. It cannot be assumed that all or any part of “measured mineral resources,” “indicated mineral resources,” or “inferred mineral resources” will ever be upgraded to a higher category. Investors are cautioned not to assume that any part of the reported “measured mineral resources,” “indicated mineral resources,” or “inferred mineral resources” in this presentation is economically or legally mineable. For the above reasons, information contained in this presentation containing descriptions of our mineral reserve and mineral resource estimates is not comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.

All scientific and technical information relating to the Cosmo Gold Mine is based on and derived from the NI 43-101 report prepared for Crocodile Gold entitled “Report on the Mineral Resources and Mineral Reserves of the Cosmo Gold Project”, dated effective December 31, 2014. All scientific and technical information relating to the Fosterville Gold Mine is based on and derived from the NI 43-101 report prepared for Crocodile Gold entitled Report on the Mineral Resources and Mineral Reserves of the Fosterville Gold Mine Victoria, Australia”, dated effective December 31, 2014. All scientific and technical information relating to the Stawell Gold Mine is based on and derived from the NI 43-101 report prepared for Crocodile Gold entitled “Report on the Mineral Resources and Mineral Reserves of the Stawell Gold Mine in Victoria, Australia”, dated effective December 31, 2014. All scientific and technical information relating to the Big Hill Enhanced Development Project is based on and derived from the NI 43-101 report prepared for Crocodile Gold entitled “Big Hill Development Project at Stawell Gold Mine – Mineral Resources & Reserves”, dated effective March 31, 2014.All of the above mentioned technical reports were prepared by “qualified persons” within the meaning of NI 43-101. The information contained herein is subject to all of the assumptions, qualifications and procedures set out in each of the technical reports and reference should be made to the full details of the technical reports which have been filed with the applicable regulatory authorities and is available on Crocodile Gold’s profile at www.sedar.com. Mark Edwards, MAusIMM (CP), MAIG, General Manager Exploration and Business Development for Crocodile, is a "qualified person" as such term is defined in NI 43-101 and has reviewed and approved the technical information and data included in this presentation and has verified that no limitations were imposed on his verification process. See Crocodile Gold’s March 31, 2015 news release for further details with respect to the mineral resource information contained in this presentation.

This presentation does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Certain information contained on this presentation with respect to other companies and their business and operation has been obtained or quoted from publicly available sources, such as continuous disclosure documents, independent publications, media articles, third party websites (collectively, the “Publications”). In certain cases, these sources make no representations as to the reliability of the information they publish. Further, the analyses and opinions reflected in these Publications are subject to a series of assumptions about future events. There are a number of factors that can cause the results to differ materially from those described in these publications. None of the Company or its representatives independently verified the accuracy or completeness of the information contained in the Publications or assume any responsibility for the completeness or accuracy of the information derived from these Publications.

3

CEO Highlights – Q2 2015 Delivered strong second quarter results – Performed well on all measures in terms of

production, operating cash costs, and AISC, operating cash flow and generated positive free cash flow.

Established new plus 200,000 gold producer with quality gold assets and a large resource base located in the 2nd largest gold producing jurisdiction in the world – AUSTRALIA.

Senior management team and board, coupled with an exceptional operations team, have a proven track record of superior value creation through operational excellence and growth by way of acquisition.

Completed transformational merger with Crocodile Gold – closed Plan of Arrangement on July 10, 2015 with overwhelming shareholder support.

Completed Private Placement of C$25M priced at C$1.25, with Newmarket Board and Management subscribed for 36%. Proceeds used to pay a C$20 million cash consideration to Crocodile Gold shareholders and for working capital.

Trading on the Toronto Stock Exchange under ticker “NMI” with a cash and gold bullion balance of $38.8M and 134M shares issued and outstanding.

(All figures are in United States (“U.S.”) dollars, unless stated otherwise)

* See Non-IFRS Disclosures ** All-In Sustaining Cash Costs per Ounce ("AISC") Includes Corporate General and Administrative Expenses.

4

Q2 2015 Consolidated Gold Production

Record H1 2015 gold production of 115,674 ounces.

Q2/15 consolidated gold production with 55,998, up 3.7% increase over Q2/14.

Two years of consecutive quarters of gold production above 53,000 ounces.

On track to achieve top end of full-year 2015 production guidance of approximately 220,000 ounces.

55,206 58,276

53,583 54,024 55,909 58,796 59,676

29,648

17,073

9,277

0

10,000

20,000

30,000

40,000

50,000

60,000

Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015

Fosterville Cosmo Stawell

55,998

5

Increasing Mill Recoveries and Gold Grade Profile

IMPROVING MILL RECOVERY Significantly improved mill recoveries at all three mines with H1 2015 consolidated recoveries of

87.2% a 5% increase over the same period in 2014.

Fosterville set a new monthly gold recovery record in May 2015 of 90.7%

Cosmo achieved the highest 6 month average gold recovery in H1 2015 of 91.9% since the mill began treating Cosmo ore.

INCREASING MILL GRADE Consolidated mill feed grades increasing – H1 2015 grades averaging 3.44 g/t Au, a 15% increase

over the same period in 2014.

Fosterville mill feed grades averaged 5.92 g/t Au, a 50% increase from Q2/14 grade of 3.95 g/t Au and the fourth consecutive quarter of mill feed grade improvement.

Exploration and growth programs at Fosterville including new Eagle Fault discovery supports view that Fosterville grades will continue their increasing trend.

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$70M $69M $73M

$70M $73M

$66M

54,735 53,612 56,486 58,070

61,293

55,154

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

H1 2015 Revenue Flat YoY Despite Lower Average Realized Gold Price

Consolidated revenue of $66M down 4.6% vs. Q2/14. H1 2015 revenue of $138.9M, relatively flat with H1 2014. Q2/15 average realized gold price of $1,196/oz, down 7.4% YoY. Average realized gold price in H1 2015 declined 7.7% to $1,190/oz. Operating cash flow increased 78% YoY to $54.6M in Q2/15.

Revenue

Gold Ounces Sold

$1,291/oz $1,298/oz $1,202/oz $1,185/oz $1,196/oz Average Realized Gold Price

$1,286/oz

H1/14 - $1,289/oz H1/15 - $1,190/oz

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$1,680

$1,386

$1,236

AISC Guidance $1,020 – $1,100

$965

$1,167

$1,027

$905

OCC Guidance

$780 – $860

$682

2012 2013 2014 2015 Cost Guidance YTD Q2 2015

YTD 2015 Operating Cash Costs & AISC Below 2015 Guidance

Q2 2015 Highlights

Q2/15 operating cash costs of $681 per oz below FY15 guidance due to continuous cost management, operational efficiencies, and weak AUD dollar.

H1 2015 operating cash costs per oz decreased 29.3% from $965 in 2014 to $682 in 2015

Q2/15 AISC of $1,037 per oz in line with FY15 guidance

AISC per oz decreased 9.3% from $1,311 in H1 2014 to $985 in H1 2015

*See Non-IFRS measures on page 26 of this presentation. (1) All-In Sustaining cash costs per ounce (“AISC”) includes Corporate General and Administrative Expenses.

All-in sustaining cash costs per oz*

Operating cash costs per oz*

8

Impact of Weakening AUD Currency The significant drop in the Australian dollar exchange rate has markedly increased the gold price in

Australian dollar terms, the functional currency of our operations, and contributed to lowering cash costs in US dollar terms.

The AUD dollar closed at $0.77 on June 30, 2015, down 5.8% from December 31, 2014.

AUD dollar denominated gold has traded above A$1,500 per ounce consistently since mid-January, trading above A$1,600 for a period of time despite a 7.7% drop in average realized US dollar denominated gold price from H1 2014 to H1 2015.

Average quarterly AUD/US exchange rate decreased 16.6% vs. Q2 2014, which benefited operating and all-in-sustaining cash costs per ounce sold.

While the continuing weakness in the AUD dollar has assisted in insulating our revenues and contributed to lower cash costs and all-in-sustaining costs, in a declining US dollar denominated gold price environment, we continue to monitor movements in the gold price and we will adjust our mine plans and growth expenditures accordingly to ensure we continue to generate positive cash flow while maintaining the sustainability of our production profile.

9 TSX:NMI

Mineral Reserves and Resources

Inferred Resources Tonnes (Mt) Grade Au (g/t) Au (kozs)

Fosterville 5.8 3.72 699

Cosmo 1.0 2.72 84

Stawell 0.8 3.08 77

Burnside 6.9 1.47 323

Maud Creek 4.2 2.55 344

Union Reefs 4.3 2.23 305

Pine Creek 2.5 2.34 191

Inferred Resources 31.3 2.48 2,024

M&I Resources (incl.) Tonnes (Mt) Grade Au (g/t) Au (kozs)

Fosterville 16.6 4.18 2,150

Cosmo 5.0 3.35 539

Stawell 4.2 1.81 243

Burnside 7.5 1.38 335

Maud Creek 7.7 3.50 871


Pine Creek 8.4 1.41 379

M&I Resources (incl.) 52.5 2.82 4,753

Source: Crocodile Gold March 31, 2015 press release announcing 2014 year-end mineral

reserves and mineral resources

2P Reserves Tonnes (Mt) Grade Au (g/t) Au (kozs)

Fosterville 1.5 6.55 308

Cosmo 4.2 3.57 148

Stawell 0.8 1.50 181

Burnside 0.2 1.93 10

Maud Creek 1.1 5.40 184


Pine Creek 1.3 1.55 62

2P Reserves 9.2 3.15 935

Significant M&I resources of

4.8 Mozs with 60% of resources in “footprint” of our three operating mines.

10

Fosterville – Significant Potential at Depth

Drill results at Phoenix have returned high grade mineralization at depth including new Eagle Fault Discovery

11

Cosmo Mine Western Lodes

• A number of drill holes have now penetrated the Western Lodes Target.

• Drill results for the Cosmo Western Lodes which are outside of the current mine plan include 7.42 g/t gold over 4.3 m (estimated true width 2.85 m) and 6.59 g/t gold over 6.4 metres (estimate true width 1.65 m).

• Work continues to fully define the potential of the Western Lodes.

• Target is located only 160 m from current development and has the potential to increase resources at Cosmo and expand the current mine plan to alternative mining areas.

12

Stawell Aurora B East Flank • New discovery of Aurora B East

Flank mineralization is a significant event in the long history of the Stawell mine.

• West Flank at Stawell has produced 2.3 million oz gold whereas the East Flank, where the Aurora B discovery has been made has no recorded production.

• Drilling on the Aurora B discovery returned high-grade intercepts containing visible gold including: 7.06 g/t gold over 17.80 m (estimate true width 8.3 m).

• Additional drilling on this new discovery is on-going.

13

Top Priorities For Operational Excellence and Growth

Sustainable Gold Production

Maintain production from current assets between 200,000oz -220,000oz Convert and replace resources in a timely manner Integrated company with experienced & unified Management Team

Growing Cash Flow

Excellent operational execution

Lower costs and capital requirements

Disciplined capital investment & allocation – Achieve positive cash flow each quarter

Maintain Balance Sheet Strength

Strong cash position

Low debt level

Flexibility in a volatile gold price environment

Strategic Growth Opportunities

Leverage deep capital markets relationships to target M&A that will be accretive to existing production and cost profile

Unlock value from our current land holdings

Strategic partnerships

14

Gold-Focused Consolidation Strategy Newmarket is executing on a gold asset acquisition strategy for growth.

Acquisitions will be opportunistic but we will remain disciplined.

Utilizing our team’s strong industry and capital markets relationships, combined with our current production and positive cash flow as a foundation for growth, we will target acquisitions that are accretive to our existing production and cost profile and that have a positive impact on maximizing shareholder value.

The continuing weak US dollar denominated gold price environment combined with a weaker AUD dollar supports our acquisition strategy and bodes well for increased M&A in the medium term in Australia and the Americas.

Our criteria for potential acquisition candidates includes:

Production assets in proven mining jurisdictions including Australia, North America and South America.

Targeting opportunities that produce plus 100,000 ounces annually and have significant gold resources to sustain or expand production.

Our acquisition metrics include target opportunities that have cash costs of $800 or less and all-in-sustaining costs of $1,000/ounce or less.

15 15

Q2 2015 FINANCIAL RESULTS REVIEW

16

Q2 2015 Operating Results Summary Operating Results Q2 2014 Q2 2015

Consolidated Gold Produced (oz) 54,024 55,998

Consolidated Gold Sold (oz) 53,612 55,154

Fosterville Gold Mine

Ore Milled (Tonnes) 202,927 173,323

Average Grade (g/t Au) 3.95 5.92

Recovery (%) 85.7 89.0

Gold Produced (oz) 22,198 29,648

Cosmo Gold Mine



Recovery (%) 86.3 92.7


Stawell Gold Mines



Recovery (%) 78.8 83.1


Fosterville

22,198

Fosterville

29,648

Cosmo 21,845

Cosmo 17,073

Stawell 9,981

Stawell 9,277

0

10,000

20,000

30,000

40,000

50,000

60,000

Q2 2014 Q2 2015

59,676 oz

Gold Production (oz)

54,024 oz

17

Fosterville Gold Mine Q2 2015 Highlights

2015 Goals

Increase underground productivity

Follow up exploration development of the newly discovered East Dipping, Kestral and Eagle structures

2015 Production guidance: 100,000 – 105,000 oz

2015 Operational Cash Costs: $670 – $750 per oz*

Q2 2015 Highlights

Q2 gold production up ~34% from Q2 2014 to 29,648 oz – Highest quarterly total since Q3 2011 and 2nd highest ever

50% improvement in average grade from Q2 2014 to 5.92 g/t Au

173,323 milled tonnes

Quarterly recovery of 89.0% was 2nd highest ever, new monthly recovery record of 90.7% in May

25,359 26,039 25,786

22,198

28,313 29,045 29,135 29,648

Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15


Fosterville Processing Facility


18

Cosmo Gold Mine Q2 2015 Highlights

21,316 21,915

17,841

21,845

17,942 20,112 20,612

17,073

Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/152015 Goals

Continue cost reduction activities

Further improve mill recovery levels

Follow up on Western Lode Discovery

Expand Mineral Resource estimate through underground drill programs

2015 Production guidance: 75,000 – 85,000 oz

2015 Operational Cash Costs: $850 – $930 per oz*

Q2 2015 Highlights

Q2 gold production finished at 17,073 oz

193,084 milled tonnes

Grade milled was 2.97 g/t Au with a recovery of 92.7%

Total of 13,850 meters of Diamond Drilling meters in Q2, 2nd highest result since Q2 2013

Cosmo Access Portal



19

8,531

10,322 9,956 9,981 9,654 9,639 9,929 9,277

Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15

Stawell Q2 2015 Highlights

2015 Goals

Big Hill Project plan modification and engagement with local community

Follow up on drill results and Aurora B East Flank

Continue to operate in a sustainable way, further streamline operations, and continue cost reduction

2015 Production guidance: ~30,000 oz

2015 Operational Cash Costs: $945 – $1,025 per oz*

Q2 2015 Highlights

Seventh consecutive quarter of production above 9,200 oz with Q2 gold production of 9,277 oz as operations continue to focus on upper mine levels

Underground ore production of 117,928 tonnes at 2.39 g/t Au

Continues to operate sustainability on streamlined operating activities, reduced manpower, and infrastructure

Stawell Gold Mines



Stawell

20

Financial Results (000’s US$) Q2 2014 Q2 2015

Revenue 69,232 66,044

Cost of operations, including depletion and depreciation

(61,103) (46,526)

Net income (loss) (3,934) 12,072

Net income per share($/share) basic & diluted* (0.03) 0.10

Cash generated from operating activities 18,184 27,072

Investment in mine development, property, plant and equipment

16,978 17,157

Gold ounces produced 54,024 55,998

Gold ounces sold 53,612 55,154

Average realized gold price 1,291 1,196

Average quoted gold price 1,289 1,192

Operating cash costs per ounce sold 965 681

All-in sustaining cash costs per ounce sold 1,316 1,037

18,184

27,071

0

5,000

10,000

15,000

20,000

25,000

30,000

Q2 2014 Q2 2015

Q2 2015 Financial Results

Operating Cash Flow ($ 000’s)

21

Q2 2015 Generating Positive Operational Cash Flow

12,459

18,184 18,232

25,281

27,486 27,071

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15

Q2 2015 Highlights

Generating positive operational cash flow despite decrease in gold prices

Average realized gold price decreased (7.4%) from $1,291 per ounce in Q2 2014 to $1,196 per ounce in Q2 2015

Operating cash flow of $27.1M in Q2 2015, a 48.9% improvement from $18.2M in Q2 2014.

22

Capital Expenditures (CAPEX)

Mine development capital expenditures were $12.8M.

Expenditures included:

• Fosterville on tailings facility development and land.

• Decline development at Cosmo, and access development to the Federal Albion area at Stawell.

CAPEX invested into plant and equipment was $4.3M.

We expect our total sustaining CAPEX for 2015 to range between $55M - $65M US, with a spend rate in H2 2015 similar to H1 2015.

Q2/15 CAPEX consistent with Q2/14; however, the significant decrease in operating cash costs and higher gold sales helped to improved AISC to $1,037/oz sold, from $1,316/oz sold in Q2/14, a 21.2% decrease.

YTD 2015 AISC/oz decreased nearly 25%. Note that all-in sustaining costs per ounce include corporate G&A expenses.

23

Cash and Debt Positions

Unaudited Cash and Gold Bullion Position and Working Capital as at June 30, 2015

Cash Position: US$38.8M cash and gold bullion at fair market value

Working Capital: US$25.1M

Debt—Convertible Debenture

Convertible debentures of C$34.5M due April 30, 2018, with an 8% coupon and C$1.02 conversion price. Under the agreement, interest payments may be settled in cash or in shares.

A total of four interest payments have been made to date on the debentures, all on time, all settled in cash.

24

2015 Production and Cash Cost Guidance

(US$) Fosterville Cosmo Stawell Consolidated 2015

Gold Production ounces 100,000 – 105,000 75,000 – 85,000 ~30,000 205,000 – 220,000

Operational Cash Costs per ounce*

$670 - $750 $850 - $930 $945 - $1,025 $780 - $860

AISC per ounce*(1) $1,020 - $1,100

Consolidated production guidance of 205,000 – 220,000 ounces

Operating cash costs per ounce are expected to be between $780 - $860

Focused on maintaining predictable and sustainable levels of production

Cost efficiencies will drive down operating costs throughout business

25 25

Q&A

26

Non-IFRS and Additional Information

Non-IFRS Measures

Crocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be

considered in isolation or as a substitute for measures of performance in accordance with the International Financial Reporting Standards.

“Operational Cash Costs per Ounce” is a non-IFRS performance measure which could provide an indication of the mining and processing efficiency at the operations.

The Company calculates operating cash costs per ounce by deducting silver sales revenue as a by-product from operating expenses per the consolidated statement of operations,

then dividing by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as

royalties, however excludes depletion and depreciation, share-based payments and rehabilitation costs. There are variations in the method of computation of “operational cash

costs per ounce” as determined by the Company compared with other mining companies. For more detail on the operational cash costs per ounce determination for Crocodile Gold,

please visit www.sedar.com or www.newmarketgoldinc.com and review the latest Annual Financial Statements issued on March 19, 2014.

“All-In Sustaining Costs per Ounce of Gold (“AISC”)” Effective December 31, 2013, the Company has adopted an all-in sustaining cost (“AISC”) performance measure that

reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry,

the Company’s definition conforms to the AISC definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory,

non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in

assessing operating performance and the ability to generate free cash flow from current operations. The Company defines AISC as the sum of operating cash costs (per above),

sustaining capital (capital required to maintain current operations at existing levels), capital lease repayments, corporate general and administrative expenses, in-mine exploration

expenses and rehabilitation accretion and amortization related to current operations. AISC excludes capital expenditures for significant improvements at existing operations deemed

to be expansionary in nature, exploration and evaluation related to growth projects, rehabilitation accretion and amortization not related to current operations, financing costs, debt

repayments, share-based compensation not related to operations, and taxes.

Additional Information

Notes for Page 9, 10, 11, 12: For information regarding mineral resource and reserve estimates, including parameters used to generate the estimates and depletion, please see

the technical reports titled: NI43-101 TECHNICAL REPORT FOSTERVILLE GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated March 31,

2015 and; NI43-101 TECHNICAL REPORT – BIG HILL ENHANCED DEVELOPMENT PROJECT AT STAWELL GOLD MINE MINERAL RESOURCES & RESERVES PREPARED

FOR CROCODILE GOLD CORP dated June 6, 2014. For the Northern Territory Mineral Reserve Estimates please refer to the technical reports titled: REPORT ON THE MINERAL

RESOURCES & MINERAL RESERVES OF THE COSMO DEEPS GOLD PROJECT dated March 31, 2015; NI43-101 TECHNICAL REPORT STAWELL GOLD MINE, VICTORIA,

AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated March 31, 2015;

REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE UNION REEFS GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL

RESOURCES & MINERAL RESERVES OF THE PINE CREEK GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES

OF THE MAUD CREEK GOLD PROJECT dated December 31, 2012 and;

REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE BURNSIDE GOLD AND BASE METAL PROJECT dated December 12, 2013.

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

http://www.sedar.com/





http://www.crocgold.com/





Douglas Forster President & CEO, Director

T: 604-559-8040 E: [email protected]

TSX: NMI www.newmarketgoldinc.com

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