Corvus Gold Intersects New Vein System

VANCOUVER - Corvus Gold Inc. reported initial results from the first of multiple outlined priority targets from its phase one 2015 drill program. The initial two core drill holes intersected the targeted Sierra Blanca NE trending structural zone that hosts productive stock work veining.  Assays returned gold mineralization exceeding +1 g/t over multiple meters that is typical for this style of YellowJacket type stock work.  Results suggest that a YellowJacket type high grade vein/stockwork gold system with potential could exist over several hundred meters and will be followed up in the phase two 2015 drill program.

Jeff Pontius Corvus Gold CEO states "The results from these initial drill holes are highly encouraging as they point to potential to expand the high-grade mill resource already within the greater Sierra Blanca/YellowJacket WhittleTH pit. This also highlights the potential of the overall Sierra Blanca disseminated deposit to host several more of these steeply dipping feeder vein systems when effectively drilled with angle holes to augment the prior vertical drilling.  As Corvus continues to explore the North Bullfrog property more and more, potential continues to emerge for this under explored, emerging new Nevada gold-silver district."

NB-15-425 was targeted on a series of NE-trending, moderate to steeply west-dipping structures that control alteration and quartz stock work veining on the northwest side of the Sierra Blanca deposit and possibly the western counterpart for the YellowJacket Vein system. The Sierra Blanca deposit was originally drilled out with vertical holes. Identifying steeply dipping feeder veins similar to the YellowJacket discovered on the east side or others that could be internal or west of the deposit will be the target in the subsequent drill program.  Follow-up logging after the YellowJacket discovery revealed that several of these vertical RC holes in the northern part of the Sierra Blanca deposit encountered broad intervals of low grade mineralization and northeast trending quartz stock work veining. Hole NB-15-425 targeted a broad quartz-adularia alteration zone between the NE30 and NE40 faults at elevations equivalent to the high-grade zone in the adjacent YellowJacket Vein deposit. The upper part of hole NB-15-425 encountered 4.1 meters at 1.3 g/t Au oxide mineralization in the Savage Valley dacite on a splay of the NE30 fault zone. These grades in upper level stockwork veining hosted in dacite are consistent with those returned from the upper parts for a YellowJacket type system and follow up drilling will target this structural zone deeper to assess if the system broadens at depth.  This hole continued down through broad intervals of low grade mineralization in the Pioneer Formation. Strong quartz-adularia-illite alteration and quartz stockwork veining is abundant in the Pioneer Formation throughout the hole, but no other zones of significant grade were encountered.

NB-15-426 also targeted a series of NE-trending, moderate to steeply west-dipping structures associated with the NE30 fault zone approximately 400 meters NE of hole 425.  This area of the Sierra Blanca deposit has returned a number of vertical RC drill intercepts of higher gold and silver values as well as anomalous copper indicative of the more productive parts of the YellowJacket system.  The target concept, like that for hole 425, is the NE30 fault zone bounding the west side of the Sierra Blanca deposit which could be an analog to the YellowJacket high-grade zone on the east side.  Hole NB-15-426 intersected 3.7 meters at 1.31 g/t Au, within a broader interval of 63.53 meters at 0.52 g/t, all within the Sierra Blanca Tuff. This mineralized stock work interval exhibits a similar vein paragenesis to the YellowJacket Vein, suggesting the interval is in close proximity to a productive high-grade vein. NB-15-426 was lost in a mineralized fault zone before reaching completion depth and will be followed up.

Corvus controls 100% of its North Bullfrog Project, which covers approximately 72 km 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.

The North Bullfrog project includes numerous prospective gold targets at various stages of exploration with four having the following modeled resources (Sierra Blanca, Jolly Jane, Mayflower and YellowJacket). The project contains a measured and indicated oxide mill resource of 5.67 Mt at an average grade of 2.22 g/t gold, and 16.67 g/t silver, containing 405.6K ounces of gold and 3,038.5K ounces of silver and an inferred resource of 1.48 Mt at an average grade of 0.83 g/t gold and 4.26 g/t silver, containing 39.4K ounces of gold and 203.4K ounces of silver.  In addition the project contains a measured and indicated, oxide, run of mine, heap leach resource of 23.15 Mt at an average grade of 0.30 g/t gold and 0.46 g/t silver, containing 221.1K ounces of gold and 344.1K ounces of silver and an inferred resource of 176.3 Mt at an average grade of 0.19 g/t gold and 0.67 g/t silver, containing 1,092.8K ounces of gold and 3,801.7K ounces of silver.