Corvus Gold Extends Mother Lode Deposit West, Drilling 70.1 metres @ 1.41 g/t Gold, and North, Drilling 33.5 metres @ 1.6 g/t Gold

January 18, 2018

Assay Highlights of Western and Northern Extension Include:
Highlighted Mineralized intervals are calculated using a 0.3 g/t cutoff

  • ML-17-029: 18.3 metres @ 1.84 g/t gold and 36.6 metres @ 1.85 g/t gold
  • ML-17-028: 51.8 metres @ 1.86 g/t gold including 19.8 metres @ 3.43 g/t gold
  • ML-17-026: 45.7 metres @ 1.33 g/t gold including 24.4 metres @ 1.72 g/t gold

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) - (TSX: KOR, OTCQX: CORVF) announces it has received assay results from an additional eight drill holes from its 2017 Phase I drill program at its Mother Lode project in southern Nevada (Table 1). The latest results continue to delineate the extension of the Mother Lode deposit to the west (ML-17-028 with 70.1 m @ 1.41 g/t gold at a 0.1 g/t cutoff), and there appears to be early indications of a new deep zone below the historic pit zone.Additionally, a new drill fence 50 metres to the north of the northern-most drilling has shown that the system continues to expand to the north-northwest of historic hole ML-338 (73.2 m @ 2.05 g/t gold).It is believed that these results continue to grow the Mother Lode deposit, which is open to the north, west, east and at depth (Figure 1).

Western Extension and New Deep In-pit Zone

Assay results from holes ML-17-026 to ML-17-028, ML-17-030 and ML-17-032 provide further information for Resource estimation work while extending mineralization to the west and at depth in the historic open pit area of the deposit, with ML-17-28 returning 51.8 m @ 1.86 g/t gold.Importantly, the new deeper holes drilled have intersected a new deep zone of moderate grade mineralization (“Deep In-Pit Zone”) that is open at depth and could be extensive throughout the deposit to the north and at depth (ML-17-026 with 24.4 m @ 0.93 g/t gold, ML-17-32 with 12.2 m @ 0.81 g/t gold & ML-17-30 with 12.2 m @ 0.81 g/t gold).

North Expansion

Assay results from two holes drilled to the north of the prior northern-most fence of holes, which included ML-17-003 with 66.3 m @ 1.24 g/t gold, reported NR-17-19, Dec. 12, 2017, ML-17-017 with 35.1 m @ 1.97 g/t gold reported NR-18-01, Jan. 10, 2018 and historic hole ML-338 with 73.2 m @ 2.05 g/t gold, returned 33.5 m @ 1.60 g/t gold in ML-17-31 and 12.2 m @ 2.31 g/t gold in ML-17-33. Corvus believes that these results are a strong indication that the deposit remains open to the north and north northwest. Drilling will continue to step out to the north and determine the extent of this relatively flat-lying high-grade zone, which is currently open for expansion.

Figure 1. Plan map showing recent drill holes on the Mother Lode Project   

Jeff Pontius, President and CEO of Corvus states, “The continued growth on all fronts of this new Nevada gold discovery is encouraging, and adds confidence and size to the deposit with every hole.  The growth potential to the north is particularly intriguing, as the mineralization has flattened with no sign of weakening.  In addition, as we get into the heart of the system, the new Deep In-Pit Zone looks to have potential to grow in size and grade to the north.  The results for the Mother Lode exploration have exceeded our initial expectations and we believe they bode well for our maiden resource estimate that is planned for the middle of this year.”   

 

Table 1
Phase I – Mother Lode Significant Drilling Results – In-Pit Expansion & North Targets 
(Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.3 g/t cutoff unless otherwise indicated below)

Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-026 126.49 172.21 45.72 1.33 1.73 West of hole ML17-014
inc 126.49 129.54 3.05 1.47 2.01 >1g/t cut
inc 144.78 169.16 24.38 1.72 2.03 >1g/t cut
AZ 090 dip-65   178.31 185.93 7.62 0.57 2.44  
  242.32 266.70 24.38 0.93 2.28 New deep in-pit zone
inc 249.94 256.03 6.09 1.75 2.86 >1g/t cut
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-027 124.97 156.97 32.00 0.49 1.02 West of hole ML17-008
inc 150.88 153.92 3.05 1.03 1.62 >1g/t cut
AZ 090 dip-65 172.21 176.78 4.57 0.78 0.94  
  181.36 213.36 32.00 0.63 1.28  
inc 188.98 192.02 3.05 1.33 3.52 >1g/t cut
  233.17 251.46 18.29 0.44 0.88 New deep in-pit zone
 
Drill Hole # from (m) to (m) Interval (m) Gold
(g/t)
Silver
(g/t)
Comment
ML-17-028  73.15 124.97 51.82 1.86 0.88 East of hole ML17-016
inc 83.82 103.63 19.81 3.43 1.28 >1g/t cut
inc 115.82 121.92 6.10 2.37 2.60 >1g/t cut
AZ 090 dip-65 167.64 172.21 4.57 0.74 2.10 New deep in-pit zone
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-029 103.63 112.78 9.15 0.43 0.19 West of hole ML17-010
AZ 090 dip-85 117.35 123.44 6.09 0.73 1.59  
  161.54 179.83 18.29 1.84 1.46  
  193.55 196.60 3.05 0.46 1.56  
  204.22 240.79 36.57 1.85 3.15  
inc 211.84 237.74 25.90 2.37 3.75 >1g/t cut
  277.37 286.51 9.14 1.17 2.41  
inc 278.89 284.99 6.10 1.56 2.39 >1g/t cut
  320.04 338.33 18.29 0.90 3.47  
inc 321.56 326.14 4.57 2.55 6.59 >1g/t cut
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-030 59.44 62.48 3.04 0.93 0.58 West of hole ML17-023
AZ 090 dip-65 100.58 105.16 4.57 0.67 0.12  
  112.78 117.35 4.57 0.89 0.06  
  144.78 155.45 10.67 0.97 0.99  
  161.54 164.59 3.05 0.35 1.55  
  169.16 172.21 3.05 0.37 0.43  
  176.78 179.83 3.05 0.35 0.53  
  185.93 198.12 12.19 0.80 0.55 New deep in-pit zone
inc 190.50 193.55 3.05 1.58 1.01 >1g/t cut
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-031
AZ 090 dip-70
313.94 347.47 33.53 1.60 3.13 NW of hole ML17-003
inc 313.94 332.23 18.29 2.47 4.12 >1g/t cut
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-032  137.16 172.21 35.05 0.93 1.22 West of hole ML17-016
inc 161.54 172.21 10.67 1.78 1.24 >1g/t cut
AZ 360 dip-90 181.36 195.07 13.71 1.24 1.36  
inc 187.45 193.55 6.10 2.02 2.58 >1g/t cut
  199.64 213.36 13.72 0.86 2.45 New deep in-pit zone
  231.65 243.84 12.19 0.81 0.63 New deep in-pit zone
 
Drill Hole # from (m) to (m) Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comment
ML-17-033
AZ 090 dip-70
294.13 306.32 12.19 2.31 2.05 North of hole ML17-003
inc 294.13 301.75 7.62 3.39 2.58 >1g/t cut

Qualified Person and Quality Control/Quality Assurance

Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), has supervised the preparation of the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.  Mr. Pontius is not independent of Corvus, as he is the CEO & President and holds common shares and incentive stock options.

Carl E. Brechtel, (Nevada PE 008744 and Registered Member 353000 of SME), a qualified person as defined by NI 43-101, has coordinated execution of the work outlined in this news release and has approved the disclosure herein. Mr. Brechtel is not independent of Corvus, as he is the COO and holds common shares and incentive stock options.

The work program at Mother Lode was designed and supervised by Mark Reischman, Corvus Gold’s Nevada Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program.  On-site personnel at the project log and track all samples prior to sealing and shipping.  Quality control is monitored by the insertion of blind certified standard reference materials and blanks into each sample shipment.  All resource sample shipments are sealed and shipped to American Assay Laboratories (AAL) in Reno, Nevada, for preparation and assaying.  AAL is independent of the Company.  AAL’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999.  Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples.  Finally, representative blind duplicate samples are forwarded to AAL and an ISO compliant third-party laboratory for additional quality control.  A qualified person, has verified the data underlying the information disclosed herein, including sampling, analytical and test data underlying the information by reviewing the reports of AAL, methodologies, results and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement.  There were no limitations on the verification process

About the North Bullfrog & Mother Lode Projects, Nevada

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. The Company also controls 140 federal unpatented mining claims on the Mother Lode project which totals 1,147 hectares which it owns 100% of.  

About Corvus Gold Inc.

Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining project at the North Bullfrog and Mother Lode Districts in Nevada.  In addition, the Company controls a number of royalties on other North American exploration properties representing a spectrum of gold, silver and copper projects.  Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.

On behalf of
Corvus Gold Inc.

(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
President & Chief Executive Officer

Contact Information:  Ryan Ko
Investor Relations
Email: info@corvusgold.com
Phone: 1-844-638-3246 (toll free) or (604) 638-3246

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and US securities legislation.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the rapid and effective capture of the potential of our new Mother Lode project, the potential for new deposits and expected increases in a system’s potential; anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company’s belief that the parameters used in the WhittleTM pit optimization process are realistic and reasonable, the potential to discover additional high grade veins or additional deposits, the potential to expand the existing estimated resource at the Mother Lode project, the prospects of the Company’s maiden resource estimate at the Mother Lode project, the growth potential of the Mother Lode project and the potential for any mining or production at the Mother Lode project,, are forward-looking statements.  Information concerning mineral resource estimates may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events.  The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s 2017 Annual Information Form and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada and the Company’s most recent filings with the United States Securities and Exchange Commission (the “SEC”).  All of the Company’s Canadian public disclosure filings in Canada may be accessed via www.sedar.com and filings with the SEC may be accessed via www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.