Corvus Gold Hits Yellow Jacket Higher Grade Feeder Zone, North Bullfrog Project, Nevada

March 22, 2012 – Vancouver, B.C., Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces the initial results from select intervals in the first 3 holes of its phase I Feeder Zone exploration program at the Company’s 100% controlled North Bullfrog Project near Beatty, Nevada (Table 1).  These initial higher grade intervals are from holes about 400 metres to the northeast of the proposed Sierra Blanca pit and resource (as outlined in the just-released preliminary economic assessment (“PEA”) (NR12-07, February 28, 2012)) along 320 metres of strike and suggest continuity along the north-south trending zone, open in all directions (Figure 1).  The Yellow Jacket target is one of several targets in the North Bullfrog District that the Company will be exploring in 2012 and is closely related to the existing resource incorporated in the PEA.  The Company will follow-up on the encouraging results from step out holes to the west of Sierra Blanca (NR12-06, February 13, 2012), step out holes to the north of Jolly Jane (NR12-08, February 29, 2012) and these encouraging initial results from Yellow Jacket with a phase II program following the completion of its ongoing large diameter core phase.  The phase II program will look to improve confidence and increase the current resource size with a mix of exploration and infill drilling.

Jeff Pontius, Corvus CEO, stated:  “The discovery of the Yellow Jacket feeder zone is very significant for the North Bullfrog project and Corvus in general as it adds an entire new dimension to the deposit and its potential going forward.  We are excited about aggressively pursuing both the potential for a near-term mining operation and the expansion of this new and exciting discovery.”

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