Corvus Gold Extends Strike Length of West Vein Zone of the Yellowjacket Deposit at North Bullfrog Project

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces new results from its ongoing 2014 Phase One drill campaign at the North Bullfrog Project in Nevada.  Assay results include the full intercept of the previously reported hole NB-14-380 as well as four recently completed holes from the new West Vein zone (Figure 1, Table 1).  Hole NB-14-384 intersected 4.5 metres of 17 g/t gold and 140 g/t silver in the West Vein structure, 50 metres along strike from NB-14-380 (5 metres at 14 g/t gold) while NB-14-382 encountered 4.7 metres of 4.6 g/t gold and 0.5 metres of 181 g/t gold, 25 metres down dip from NB-14-380.

Full assay results have now been received from hole NB-14-380 (initially reported in NR-14-09, March 13, 2014).  Results from the stockwork vein zone around the Upper Vein returned an overall intercept of 17 metres @ 1.2 g/t gold and 38 g/t silver (Table 1, Figure 2).  The stockwork around the lower main West Vein in this hole has returned an intercept of 13 metres of 5.6 g/t gold and 94 g/t silver (Table 1).  Mineralization in the Josh Vein structure in this hole is confined to the hangingwall zone (Table 1, Figure 2).  NB-14-381 was drilled above NB-14-380 and intersected the West Vein at a shallow depth above the productive mineralized zone and drilled on into the hangingwall of the Josh Vein at depth (Table 1, Figure 2).  NB-14-382 was drilled below NB-14-380 on the same section and encountered 4.7 metres of 4.6 g/t gold and 34 g/t silver in the main vein and several mineralized veins in the footwall, including a 0.5 metre interval with 181g/t gold and 94 g/t silver (Table 1, Figure 2).

Stepping 50 metres to the south of the previous three holes, hole NB-14-383 encountered 4.7 metres of quartz vein that was modestly mineralized, however, the total stockwork zone gave an intercept of 42 metres with 0.5 g/t gold and 3 g/t silver (Figure 1, Table 1).  Hole NB-14-384 (drilled 50 metres up-dip from NB-14-383) encountered 14 metres of quartz veining with an average grade of 6 g/t gold and 72 g/t silver which includes a high-grade interval with 4.5 metres of 17 g/t gold and 140 g/t silver.  The assays for the remainder of NB-14-384 are pending.

An additional five holes have now been completed in the West Vein target with results pending.  The West Vein zone has now been tracked for 125 metres along strike and to a down dip depth of nearly 150 metres.  The West Vein system appears to merge with the Josh Vein to the south near drill hole NB-12-184 (Figure 1).  The drill has now been moved to the north to continue delineating the northern extent of the Yellowjacket Deposit’s main Josh Vein system and will eventually return to the West & Josh Vein area to continue exploring the system to the south and at depth.

 

Table 1: Significant Intercepts* from 2014 Drilling at Yellowjacket
(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.)

HoleID
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Silver
(g/t)
Comments
NB-14-380
Az 90; Incl -70
46.3
51.4
5.1
0.43
4.9
UV HW Stockwork
51.4
54.9
3.6
4.19
150
Upper Vein
54.9
63.0
8.0
0.31
10.0
UV FW Stockwork
16.7
1.18
38
Upper Vein + Stockwork
80.0
85.3
5.3
0.41
2.8
WV HW Stockwork
85.3
90.0
4.8
13.81
243
West Vein
90.0
92.7
2.7
1.04
4.8
WV FW Stockwork
12.7
5.57
94
West Vein + Stockwork
113.2
114.9
1.7
0.88
1.9
120.2
157.4
37.2
0.34
1.0
JV HW Periph
157.4
165.6
8.2
0.70
1.1
JV HW Stockwork
NB-14-381
Az 90; Incl -45
108.1
113.9
5.9
0.29
4.4
Josh HW Periph
119.1
122.8
3.7
0.51
10.0
Josh HW Stockwork
NB-14-382
Az 90; Incl -80
         Including
97.5
104.0
6.5
0.25
1.4
West Vein HW Stockwork
104.0
108.7
4.7
4.62
34
West Vein
108.7
116.1
7.4
1.05
1.5
WV FWStockwork
18.6
1.67
9.6
West Vein + Stockwork
116.1
159.1
43.0
2.56
2.3
WV FW Periph
127.2
127.7
0.5
181.50
94
Single vein
167.7
170.5
2.7
0.11
142
High Silver Fault Gouge
172.5
199.1
26.6
0.50
1.1
Josh HW Stockwork
NB-14-383
Az 90; Incl -80
138.1
150.3
12.2
0.52
1.6
WV HW Periph
150.3
160.1
9.9
0.86
8.0
WV HW Stockwork
160.1
164.9
4.7
0.40
4.0
West Vein
164.9
192.5
27.6
0.40
1.6
WV FW Stockwork
42.2
0.52
3.4
West Vein + Stockwork
NB-14-384
          Including
Az 90; Incl -55
114.4
128.4
14.0
6.04
72
West Vein
114.4
118.9
4.5
16.96
140
 

*The veining and stockwork veining have been defined by geological observation of the percentage of veining in the interval, e.g. significant concentrations of veining in the immediate hangingwall and footwall of a significant vein.  Outside of the immediate hangingwall and footwall zones a cutoff of 0.3 g/t gold equivalent has been used assuming a 1:55 price ratio of gold to silver.  Up to 3 metres of internal waste has been carried locally.

Yellowjacket Vein Zone Exploration

The Yellowjacket Vein Zone at North Bullfrog is currently defined by the Josh-West Vein structural zone on the west and the Liberator Fault to the east (Figure 1).  The interaction of these two faults has created a large broken zone which contains several quartz veined structures, such as the Josh Vein, and broad zones of stockwork mineralization.  The West Vein strand delineated by 2014 drilling represents a new hangingwall splay off the main Josh Vein Fault that contains gold and silver mineralization to the main Josh Vein.

Drilling now indicates that large northeast faults such as the NE30 and NE50 faults (Figure 1) do not cut off the Josh Vein Fault system but enhance it as a host for vein development and have emerged as new exploration targets (Figure 2).

The 5,000 metre Phase One drilling program at North Bullfrog will continue to focus on delineating the Yellowjacket system.  In the planned 15,000 metre Phase Two program, additional core rigs will be added to conduct resource definition drilling and continue with the District-wide exploration for other vein systems.

Figure 1: Location of 2014 drill holes at Yellowjacket.  Assays from the holes indicated in fuscia are reported in this release.  Green traces are from holes with pending assays.  The location of the section in Figure 2 is indicated.

Figure 2: Geological Cross Section through holes NB-13-380, 381 and 382 reported here.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately 68 km² in southern Nevada.  The property package is made up of a number of private mineral leases of patented federal mining claims and 758 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.

Based upon a USD 1300 gold price and a silver to gold price ratio of 59:1, the North Bullfrog project currently has estimated mineral resources defined in six deposits: the structurally controlled Yellowjacket milling deposit and the oxidized disseminated heap leach Sierra Blanca, Jolly Jane, Air Track West, Connection and Mayflower deposits.

The Yellowjacket vein-style milling deposit has an Indicated Mineral Resource of 3.69 Mt at an average grade of 1.03 g/t gold and 5.52 g/t silver for 122,000 contained ounces of gold and 654,000 ounces of silver and an Inferred Mineral Resource of 18.40 Mt with an average grade of 0.94 g/t gold and 6.16 g/t silver for 555,000 contained ounces of gold and 3.64M ounces of silver, both at a 0.29 g/t gold cutoff.

The five oxidized disseminated heap leach deposits contain an Indicated Mineral Resource of 25.72 Mt at an average grade of 0.29 g/t gold for 240,000 contained ounces of gold and an Inferred Mineral Resource of 185.99 Mt at 0.19 g/t gold for 1,136,000 contained ounces of gold (both at a 0.13 g/t gold cut-off), with appreciable silver credits.

For full details with respect to the assumptions underlying the current resource estimate detailed herein, please review the Company’s latest NI 43-101 technical report entitled “Technical Report – The North Bullfrog Project, Bullfrog Mining District, Nye County, Nevada” dated April 1, 2014 and available on SEDAR or at the Company’s website www.corvusgold.com.

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 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 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 National Instrument 43-101, has supervised 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 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 Minerals in Reno, Nevada, for preparation and then on to ALS Minerals in Reno, Nevada, or Vancouver, B.C., for assaying.  ALS Minerals’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.

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