Corvus Gold Continues To Increase the District Gold Potential at the North Bullfrog Project, Nevada

 

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces assay results from the final 16 reverse circulation holes drilled in the 2013 campaign.  These results have expanded the broad oxide mineralization in the Sierra Blanca deposit in all directions and up to another 100 metres in depth.  Hole NB-13-246, on the northern extension of the Sierra Blanca deposit, returned 21.3 metres @ 0.46 g/t gold from the surface (Figure 1).  These results establish the continuity of quartz stockwork mineralization found 50 metres to the east in NB-12-242, which had 41.2 metres @ 0.68 g/t gold from surface, including 10.7 metres @ 1.3 g/t gold (NR13-27, October 24, 2013).

High silver values in several holes found in the North Sierra Blanca area adjacent to the Yellowjacket deposit suggests the presence of more Yellowjacket style high-grade mineralization between the two deposits.  In the Savage Valley area, hole NB-13-259 returned 38 metres @ 0.51g/t gold from 18 metres depth and hole NB-13-258 returned an intercept of 11 m of 0.7 g/t gold with high tellurium mineralization similar to that intercepted a half a kilometre to the west at Air Track Hill in hole NB-13-364 (NR14-01, January 9, 2014).  Corvus is still waiting for assays on the final 10 core holes drilled in 2013, most of which are from the northern and western extension of the Yellowjacket deposit.

Jeff Pontius, Chief Executive Officer, stated: “These encouraging results from our resource expansion program have highlighted two important points 1) the large bulk tonnage oxide deposit continues to grow and remains unconstrained, and 2) the presence of broad higher grade, high silver, stockwork zones is encouraging for finding more Yellowjacket type high-grade gold-silver zones.  This new data has helped outline several new high-grade targets for our 2014 program.  As the scale of the District-wide system continues to grow, this promises to be an exciting year.”

North Sierra Blanca Drilling

Results from nine new RC holes drilled on the northern end of Sierra Blanca have established good continuity and extended the known mineralization for about 300 metres to the north and 250 metres to the east (Table 1, Figure 1), thereby linking the Sierra Blanca deposit with the Yellowjacket deposit.  Oxidation along the ridge at Sierra Blanca North extends for some 200 metres in depth, which is about 100 metres deeper than originally projected in this area.  As a result, the potential to increase the tonnage of this portion of the deposit has increased (Table 1).

Broad zones of disseminated mineralization, such as NB-13-244 with 77 metres @ 0.25 g/t gold, have been found in all holes.  High level quartz stockwork mineralization seen at the surface has now been intersected in drilling, returning higher grades similar to those in the Yellowjacket such as hole NB-13-242 (41.2 metres @ 0.68 g/t gold from surface, including 10.7 metres @ 1.3 g/t gold –previously reported) and hole NB-13-246 (21.3 metres @ 0.46 g/t gold).  Core holes NB-13-373, 375 and 376 (assays pending) were drilled to test the continuity and possible grade enhancement at depth (Yellowjacket productive depths) of these newly discovered vein/stockwork zones.

In addition, holes NB-13-249, 250 and 251 not only demonstrate the continuity of lower grade disseminated mineralization, but also encountered intervals with anomalously high silver to gold ratios (Table 1, Figure 1).  These values are characteristic of the Yellowjacket high-grade mineralization and indicate that the high-grade veining extends into these areas.  Drilling in 2014 will be designed to investigate these occurrences as well.

Table 1: Significant intercepts* from recent reverse circulation
holes at North Sierra Blanca.

(All holes are vertical.  Reported drill intercepts are not true widths.  At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.)

Hole ID From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Comments
NB-13-244 27.4 105.2 77.7 0.25 0.87
Including 61.0 79.3 18.3 0.36 1.12 Qtz stockwork
120.4 144.8 24.4 0.16 0.44
207.3 246.9 39.6 0.12 0.43 oxide to 244m
271.3 285.0 13.7 0.14 0.69
327.7 335.3 7.6 0.25 0.40
NB-13-245 12.2 82.3 70.1 0.17 0.76
86.9 160.0 73.2 0.21 0.80
Including 118.9 147.8 29.0 0.32 0.66 oxide to 210m
NB-13-246 0.0 21.3 21.3 0.46 0.61 Qtz stockwork
21.3 32.0 10.7 0.14 0.46
32.0 47.2 15.2 0.44 0.90 Qtz stockwork
47.2 106.7 59.4 0.22 0.96
155.4 167.6 12.2 0.14 1.43
172.2 181.4 9.1 0.15 0.56 oxide to 330m
NB-13-247 25.9 111.3 85.3 0.21 0.86
120.4 178.3 57.9 0.21 0.55
256.0 291.1 35.0 0.19 0.70 oxide to 202m
300.2 335.3 35.0 0.18 0.40
NB-13-248 0.0 7.6 7.6 0.14 0.59
19.8 36.6 16.8 0.22 1.68
70.1 134.1 64.0 0.18 0.69
187.4 216.4 29.0 0.15 0.33 oxide to 140m
254.5 280.4 25.9 0.16 0.69
NB-13-249 97.5 106.7 9.1 0.07 2.27 High silver to gold
112.8 144.8 32.0 0.20 0.94
193.6 211.8 18.3 0.14 0.45 oxide to 158m
219.5 240.8 21.3 0.18 0.44
249.9 277.4 27.4 0.15 0.42
NB-13-250 54.9 57.9 3.0 0.16 4.83 High silver to gold
  56.4 217.9 161.5 0.21 0.89 oxide to 93m
222.5 224.0 1.5 0.22 20.00 High silver to gold
248.4 286.5 38.1 0.25 0.39
NB-13-251 82.3 128.0 45.7 0.31 1.08 Qtz stockwork
Including 83.8 111.3 27.4 0.42 1.32
141.7 187.4 45.7 0.27 1.26
Including 150.9 164.6 13.7 0.43 0.93 feeder structure
Including 176.8 178.3 1.5 0.32 5.77 Qtz stkwk; High silver to gold
233.2 251.5 18.3 0.19 0.32 oxide to 185m
NB-13-252 73.2 164.6 91.4 0.24 0.79 oxide to 32m
Including 79.3 83.8 4.6 0.66 1.26 feeder structure
Including 117.3 123.4 6.1 0.38 1.45 feeder structure
Including 155.4 161.5 6.1 0.51 0.41 feeder structure

*Intercepts calculated using a 0.1g/t gold cutoff and up to 3 metres of internal waste.

Infill Drilling between Sierra Blanca and Savage Valley Deposits

Drill holes designed to evaluate a large un-drilled area between the southwest portion of Sierra Blanca and northern extension of the Savage Valley deposits have returned encouraging results which could potentially link the two proposed pits in future modeling.  The results from seven new holes show that low-grade mineralization extends through this area, with some significant shallow intercepts such as hole NB-13-256, where 75 of the top 105 metres is mineralized above cutoff, and NB-13-254 with 20 metres @ 0.26 g/t gold from 8 metres depth (Table 2, Figure 1).

Holes NB-13-258 and NB-13-259 both have significant intercepts at nearly 0.5 g/t gold (Table 2).  Of particular interest is the intercept of 10.7 metres @ 0.7 g/t gold in NB-13-258, which also has elevated tellurium similar to an intercept half a kilometre to the west at Air Track Hill (NR14-01, January 9, 2014).  As previously stated, tellurium is a strong indicator of high-grade gold mineralization.  Additional drilling is planned in the Savage Valley area to explore the potential southern extension of the Yellowjacket high-grade deposit into this large area of low-grade mineralization (which has some indicators that are similar to the setting at Sierra Blanca to the north).

Table 2: Significant intercepts* from recent RC holes between
Sierra Blanca and Savage Valley.

(All holes are vertical.  Reported drill intercepts are not true widths.  At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.)

Hole ID From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Comments
NB-13-253 No Significant Intercepts oxide to 146m TD
NB-13-254 7.6 27.4 19.8 0.26 0.09 oxide to 111m
Including 15.2 22.9 7.6 0.36 0.07 feeder structure
NB-13-255 71.6 83.8 12.2 0.20 0.34 oxide to 117m
Including 73.2 76.2 3.0 0.42 0.33 feeder structure
NB-13-256 0.0 47.2 47.2 0.17 0.46
70.1 83.8 13.7 0.15 0.39
89.9 105.2 15.2 0.15 0.27
111.3 163.1 51.8 0.15 0.38 oxide to 163m
233.2 245.4 12.2 0.21 0.78 Tr1Seds
NB-13-257 53.3 93.0 39.6 0.14 0.30
NB-13-258 48.8 54.9 6.1 0.22 0.09
64.0 93.0 28.9 0.45 0.76
Including 68.6 79.3 10.7 0.70 0.82 High tellurium zone
93.0 131.1 38.1 0.15 0.63
193.6 213.4 19.8 0.17 0.23 oxide to 198m
NB-13-259 18.3 56.4 38.1 0.51 1.11
56.4 77.7 21.3 0.13 0.59
109.7 121.9 12.2 0.25 0.17 oxide to 157

*Intercepts calculated using a 0.1g/t gold cutoff and up to 3 metres of internal waste.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately 68 km² in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick Gold Corporation.  The property package is made up of a number of leased patented federal mining claims and 758 federal unpatented mining claims.  The project has excellent infrastructure, being adjacent to a major highway and power corridor.


Figure 1: Location of drill hole discussed in this news release.  Red collars and traces indicate holes reported in this news release.  Blue indicates holes for which assays are pending.  Black indicates previously released results.  Significant mineralized faults are shown in dark red.  Grey hachured lines show outlines of present proposed pit designs.  Topographic contour interval is 2 metres.

Qualified Person and Quality Control/Quality Assurance

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

The work program at North Bullfrog was designed and supervised by Russell Myers (CPG 11433), President of Corvus, and Mark Reischman, Corvus Nevada Exploration Manager, who are 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 ALS Chemex in Reno, Nevada, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assaying.  ALS Chemex’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 ALS Chemex and an ISO compliant third party laboratory for additional quality control.

About Corvus Gold Inc.

Corvus Gold Inc. is a North American gold exploration company, which is focused on advancing its 100% controlled Nevada, North Bullfrog project towards a potential development decision.  In addition the Company controls a number of 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 leveraging noncore assets via partner funded exploration work into carried and or royalty interests that provide shareholders with exposure to gold production.

On behalf of
Corvus Gold Inc.

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

Contact Information:
Ryan Ko
Investor Relations
Email: info@corvusgold.com
Phone: 1-888-770-7488 (toll free) or (604) 638-3246 /Fax: (604) 408-7499