Corvus Gold Extends Gold Mineralization At North Bullfrog Project

VANCOUVER, BC - Corvus Gold Inc. reported the initial results from the first five holes in the new Liberator Zone immediately east of the Company's Sierra Blanca-YellowJacket resource. Results continue to outline a broad zone of gold mineralization as four of the five holes returned wide mineralized intercepts. Drill Hole NB16-320 intercepted broad gold mineralization starting at a shallow depth below surface returning 108 meters @ 0.57 g/t gold including higher grade vein intercepts of 1.52 meters @ 8.3 g/t Gold & 1.52 meters @ 4.96 g/t gold and ending in mineralization.

Jeff Pontius, President and CEO of Corvus said, "The initial results from drilling on the Liberator Zone has opened up a large new area of gold-silver mineralization at the North Bullfrog project. These results have led to a reinterpretation of numerous high and low grade intercepts immediately east of our current resource, now defining a sizable new structural zone stretching for over 800 meters in length. We believe that this new zone holds potential for another high-grade body like that at YellowJacket and its proximity to the current designed pit could make it an important resource expansion target. We believe the ongoing drill program is progressing toward its goal of expanding the existing resource and testing other new gold discoveries on this new Nevada, district scale, gold deposit."

The Liberator Zone is parallel to the YellowJacket deposit and has about the same strike length at nearly one kilometer. Although the Liberator and YellowJacket structural zones are parallel they dip in opposite directions with the YellowJacket dipping to the west and the Liberator dipping to the east, which led to the Liberator not being effectively tested in the past during the east directed YellowJacket drilling programs. The new Liberator discovery like the YellowJacket has returned drill intersections of shallow, higher grade gold mineralization (NB-15-267, 11m @ 3.5 g/t Au, NR15-14, Oct. 15, 2015; NB-13-350, 6m @ 2.4 g/t Au, NR13-25, Oct. 10, 2013; NB-12-126, 5.7m @ 6 g/t Au, NR12-10, Mar. 22, 2012; NB-10-63, 14m @ 6 g/t Au, NR11-03, Feb. 1, 2011). In addition, the Liberator also hosts broad zones of lower grade mineralization highlighting the extensive fluid flow of gold and silver rich solutions in this large structural zone (NB-16-320, 108m @ 0.57 g/t Au; NB-16-303, 154m @ 0.54 g/t Au, NR16-11, Aug. 2, 2016; NB-15-267, 210m @ 0.47 g/t Au, NR15-14, Oct. 15, 2016; low grade halo around high-grade zone).

The holes reported are infill holes that have added continuity to the overall Liberator mineralized zone and importantly have now defined its northern extension (NB-16-315 6.1m @ 1.06 g/t Au and 6.1m @ 1.14 g/t Au) below the intercept in hole NB-16-300 with 18m @ 1.8 g/t Au. These results from the northern Swale Zone now shows a direct connection to the main east dipping Liberator zone to the south. This work also highlights a 250 meter section of the structure that is essentially untested down to the Rhyolite Zone, which hosts high-grade gold and silver mineralization. The higher-grade parts of the Liberator system are related to quartz stockwork and sulfidized zones at intersections with northeast structures, forming shoots within the very broad and extensive structurally controlled low-grade system. Follow-up drilling on the zone is being planned.

Corvus controls 100% of its North Bullfrog Project, which covers approximately 72 km² in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 865 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor as well as a large water right.