Phase I Resource Expansion And High-Grade Drilling Program At North Bullfrog Project 

VANCOUVER, BC - Corvus Gold Inc. reported the start of its 2012 exploration drilling program on its 100% controlled North Bullfrog Project near Beatty, Nevada. This initial phase of drilling will focus on three main objectives: 1) assessing the resource expansion potential of the current deposit; 2) follow-up drilling on encouraging high-grade gold results returned from the 2011 program in the Yellowjacket feeder zone which included 6.1 metres of 11.9 g/t gold and 3) PQ core drilling for additional metallurgical sample materials. This initial phase, which includes both reverse circulation and diamond drilling, totals approximately 4,000 metres and will aid in directing an aggressive +100 hole follow-up program which is currently being permitted. A preliminary economic assessment (PEA) based on the current resource and metallurgical results is expected to be completed next month and will outline more specific project economics.

The resource expansion program will focus on major step outs from the existing resource area which covers approximately 1.6 km2. The goal of this phase of the program is to evaluate the potential to increase the current estimated resource of 0.18M ounces of gold in 15 Mt at a grade of 0.37 g/t gold (Indicated) and 1.4M ounces in 156 Mt at a grade of 0.28 g/t gold (Inferred), both at a 0.2 g/t cutoff.

The high-grade exploration program will follow-up on encouraging results in the Yellowjacket feeder system as well as other potential feeders defined in the 2011 exploration program. The goal of the high-grade program will be to determine the geometry, extent and resource potential of these zones in the District. High-grade feeder systems formed an extensive part of the historic Bullfrog deposit approximately 10 kilometres to the south that was mined in the 1990's.

The metallurgical sampling program will collect large diameter samples from each of the major resource areas which will be used for additional column leach testing to further enhance and define the Run of Mine leaching potential of the deposit.

Jeff Pontius, CEO said, "We are excited to open this next chapter of exploration on this new Nevada gold discovery. The discovery of additional high-grade mineralization in the District could be a transforming catalyst for the project. In addition, the project continues to provide significant encouragement for growing an already large gold resource as well as positive results from early mining and processing studies. This phase of work will set the stage for assessing the development potential of the deposit and the direction of Corvus in the future."

The company's address is Suite 2300, 1177 West Hastings St.,Vancouver, BC V6E 2K3.