2015 Drilling Program At North Bullfrog Project

VANCOUVER - Corvus Gold Inc. reoirted the start of its Phase 1 2015 core drill program at the North Bullfrog Project, Nevada on April 23rd. The 3,000 meter drill program has been designed to identify potential additional high-grade vein systems within the project area. Multiple compelling targets have been identified through detailed surface mapping, geophysical surveys and structural modeling that indicates the presence of multiple feeder zones that, if present, could significantly expand the high-grade resource currently defined at the YellowJacket deposit.

Jeff Pontius, CEO of Corvus Gold Inc. said Based on what we have learned from our 2014 detailed drilling and modeling program for the YellowJacket deposit, we have identified 10 high priority targets with good potential to host high-grade vein systems similar to those at the YellowJacket and Bullfrog deposits. With our proof of concept YellowJacket, Corvus initiated an extensive mapping and geophysical program about a year ago with the belief that YellowJacket is not an isolated deposit and the District likely hosts additional high-grade systems like the similar age Bullfrog District, ten kilometers to the south. The integration of this new data with the emerging deposits structural detail and new district wide age date information has greatly enhanced our target definition. If discovered, new high-grade systems generated from this year’s exploration program could provide a catalyst to the North Bullfrog project and Corvus Gold.

The Liberty Vein target concept is similar to that of the YellowJacket system with barren veining at surface progressing down into a productive system at depth. The orientation of the Liberty vein is remarkably similar to the main YellowJacket vein (Josh Vein) and is also in the footwall of the Liberator Fault. Recent drilling has helped define the locations of the Liberator and Cairn Faults and indicates that there is a large untested area along the southeastern extension of the YellowJacket system, which could host a high-grade vein deposit at the target depths of about 100 to 300 meters below the surface. The Liberty Vein exposed at surface is unmineralized but contains fragments of banded chalcedonic vein, similar to the YellowJacket veins, suggesting productive zones at depth.

To the west of the Josh Vein surface mapping has defined a NNE trending swarm of quartz veinlet’s along the crest of the ridge at Sierra Blanca North. Drilling has shown that the NE30 and NE40 faults are both mineralized and classic upper level YellowJacket type stockwork mineralization which has been encountered in holes 342, 374 and 375. This stockwork veining has high silver to gold ratios that are typical of upper Josh Vein style mineralization. Both drilling and resistivity geophysical data indicate that there is a deep rooted structural zone of highly resistive silica-adularia alteration developed under the ridge, which is typical of the upper levels of the YellowJacket deposit. Drilling here will test the zone between the NE30 and NE40 faults at elevations equivalent to the most productive high-grade zone in the adjacent YellowJacket deposit.

Geological mapping in 2014 delineated a zone of more than 10 square kilometers that has been affected by high level steam-heated alteration which develops above boiling geothermal systems like those that create the YellowJacket and Bullfrog deposits. Recent age date information has established a 10 million year old age for this alteration system which is coincident with the 10-11 million year old age of the Bullfrog and YellowJacket vein systems.

The eastern area is underlain with a featherless debris flow unit and has considerable young erosion cover complicating structural mapping. However, a detailed gravity survey conducted in March of 2015 has revealed a number of major NW and NS trending structures which appear to control the distribution of steam-heated alteration and host weak surface mineralization. The Eastern Steam-heated zone has never received any modern focused exploration work and represents a very large unexplored system that was operating during the main gold and silver mineralizing event.

To date the Company has prioritized two target areas for phase 1 drilling and one for further surface work which could lead to drilling in the first phase as well.