Vancouver, B.C. – Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces results from the final six holes of its 2014 Phase I drill program and the first hole of its Phase II drill campaign at the North Bullfrog Project in Nevada.  Holes NB-14-393 through NB-14-398 extended the main Josh Vein structural zone of the Yellowjacket deposit an additional 200 metres to the north and defined a new parallel target zone to the west of the main Josh Vein called NW10, which is similar to the recently discovered Rhyolite Zone to the East (NR14-17, September 4, 2014).  This new discovery has broadened the total width of the Yellowjacket structural zone in the north and has provided critical data in defining a new high-grade shoot target at the intersection of the NW10, Josh Vein and Rhyolite zones.  In addition, the new NW 10 zone has now extended vein/stockwork mineralization to over 250 metres in depth, thereby expanding the overall potential of the system.

The initial hole of the Phase II program intersected a high-grade internal shoot in the main Josh Vein target that returned encouraging results and key data that warrants follow-up drilling.  This shoot target is developing within an essentially undrilled area of the Yellowjacket deposit (“gap area”) immediately north of the intersection of the West Vein and the Josh Vein (Figure 1).  Hole NB-14-399 tested the uppermost part of the shoot target, and returned 9.4 m @ 2.5 g/t gold & 13.7 g/t silver including 1.6 m @ 10.6 g/t gold and 59 g/t silver.

Follow-up holes below hole NB-14-399 are intersecting broad zones of vein and stockwork material at depth (results pending).  In many epithermal vein deposits like Yellowjacket, internal zones of very high-grade can develop in shoot type features, which is the target in this new area of the system.  Three additional holes have been completed in the target with at least two more planed.

Jeff Pontius, Corvus CEO, stated: “The new holes currently being drilled in the shoot target within the gap area are very exciting as it appears we are outlining a potentially large area which could host significantly higher grades and might add considerably to the overall Yellowjacket resource and deposit.  Results from the last drill holes of the Phase I program have increased the extension potential of the Yellowjacket system to the north, which remains open, and showed that gold mineralization can occur in different host rocks thereby significantly adding to the potential of the overall District.  In addition, expanding the system at depth has increased the size potential of the deposit and with new high-grade targets developing from each round of drilling, the potential of the overall system is even greater.”

Full news release on Corvus Gold’s website

Corvus Gold Website

Click here to see the release.

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces the latest results from its ongoing 2014 Phase One drill campaign at the North Bullfrog Project in Nevada.  Assays include the complete results of the previously reported hole NB-14-384 as well as three recently completed holes from the newly discovered West Vein zone.  In addition, hole NB-14-391, which is the first hole drilled in 2014 on the Northern extension of the main Josh Vein, intersected 17.5 metres of 12.77 g/t gold and 62 g/t silver (Figure 1, Table 1).  This hole is a 30 metre step out to the North from the farthest northern holes drilled in 2013 and returned the best intersection drilled to date.  It is important to note that results from Hole NB-391 represent only the main vein interval, and assays from the surrounding stockwork and disseminated zones are still pending.

In the West Vein structure, hole NB-14-384 intersected 4.5 metres of 17 g/t gold and 150 g/t silver, 50 metres south of NB-14-380 (5 metres at 14 g/t gold), while hole NB-14-389, 30 metres south of NB-13-384, encountered 9.1 metres of 5.7 g/t gold and 33 g/t silver.  The stockwork around the West Vein continues to return broad zones of gold and silver mineralization extending as far south as drilling has progressed to date (Table 1).

Drilling has now shown that, south of NB-14-389, the fault strands merge into a zone of intense faulting resulting in widespread vein related mineralization (Figure 2).  Of particular interest is the structure near the top of NB-14-386 which contained 3.2 metres with 9.2 g/t gold and 87 g/t silver and represents a newly discovered vein structure (Figure 2).  In NB-14-386, results indicate almost 100 metres of stockwork developed in this large fault zone (Table 1, Figure 2).  Assays are pending for two holes drilled down dip of the structure in NB-12-184, which is currently the furthest drilling to the south on the Yellowjacket system (Figure 1).

Exploration on the northern extension of the Josh Vein began in late April and the first four holes, including NB-14-391 (17.5 metres @ 12.77 g/t gold and 62 g/t silver), have established the continuity of the zone to the north with the presence of native gold and silver sulphide (acanthite) in thick quartz veins and surrounding stockwork veining.  The north extension drill program is ongoing, and is initially assessing a 200 metre expansion of the system.  Following the initial north program, drilling will move south to assess the southern extension potential below hole NB-12-184.

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 (Figure 2).  The West Vein strand delineated by 2014 drilling represents a new hangingwall splay off the main Josh Vein Fault, as well as the new vein structure intercepts in NB-14-386 reported in this news release.  Ongoing drilling is continuing to intersect new vein structures within and around the overall Yellowjacket deposit.

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.  The stratigraphic reconstruction in Figure 2 indicates that Yellowjacket has undergone a complex fault history resulting in multiple zones.

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.

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.)

*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 0.3g/t gold equivalent has been used assuming a 59:1 price ratio of gold to silver.  Up to 3 metres of internal waste has been carried locally.

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-14-383, 384, 385 and 386 reported here.
Stratigraphic markers used in the interpretation are indicated by thin black lines

Preliminary Economic Assessment Update

In addition to its ongoing Yellowjacket deposit resource expansion drill program, Corvus continues to advance its mine development studies, including mining, metallurgy, capital estimates and environmental characterization.  This ongoing work will be used for a planned updated resource estimate and new Preliminary Economic Assessment following the completion of the 2014 drill program.

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 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

The results are presented in the tables and indicate high gold and silver recovery at particle sizes typical of cyanide leach milling systems in Nevada. The measured recoveries of both metals at larger particle sizes (greater than 80 per cent minus 1.7 millimetres) were lower, indicating that mill processing would likely enhance recoveries for most of the Yellowjacket mineralization.

            
                   GOLD RECOVERY FROM YELLOWJACKET COMPOSITE SAMPLES IN 96-HOUR BOTTLE ROLL TESTS

            80%-19mm    80%-6.3mm          80%-1.7mm         80%-0.15mm          80%-0.11mm         80%-0.075mm
Composite  (3/4 inch)   (1/4 inch)          (12 mesh)         (100 mesh)          (150 mesh)          (200 mesh)

YJPQ01         12.7%        30.4%              50.0%              86.2%               88.4%               88.3%
YJPQ02         11.3%        32.9%              53.6%              92.0%               92.9%               90.4%
YJPQ03         13.7%        27.3%              45.9%              88.5%               88.3%               89.6%
YJPQ04         23.1%        33.3%              57.8%              61.4%               67.3%               68.8%
YJPQ05         43.9%        44.2%              54.0%              76.4%               76.2%               74.4%

                   SILVER RECOVERY FROM YELLOWJACKET COMPOSITE SAMPLES IN 96-HOUR BOTTLE ROLL TESTS

            80%-19mm    80%-6.3mm          80%-1.7mm         80%-0.15mm          80%-0.11mm         80%-0.075mm
Composite  (3/4 inch)   (1/4 inch)          (12 mesh)         (100 mesh)          (150 mesh)          (200 mesh)

YJPQ01         10.5%        24.9%              46.9%              66.8%               68.7%               70.3%
YJPQ02         15.0%        35.4%              50.2%              74.3%               75.8%               77.4%
YJPQ03         11.4%        20.5%              38.4%              68.4%               65.9%               76.1%
YJPQ04         16.7%        41.9%              52.3%              62.0%               66.0%               66.7%
YJPQ05         29.4%        36.8%              47.4%              65.0%               70.0%               61.9%

Cyanide consumptions ranged from less than 0.07 to 0.2 kilogram per tonne and lime consumptions ranged from 0.5 to 2.5 kilograms tonne across the different tests, generally increasing with reduced particle size.

The composites were designed to be representative of the range of mineralization types and grades observed in the Yellowjacket vein system and are listed below:

• Composite YJPQ01 was made up of quartz vein material with an average calculated head grade (extracted gold plus gold remaining in the tail) of 6.7 grams per tonne gold.
• Composite YJPQ02 was composed of vein breccia (about 30 per cent quartz) and stockwork (less than 10 per cent quartz) and had an average calculated head grade of 5.8 grams per tonne gold.
• Composite YJPQ03 was constructed of vein breccia and stockwork samples with an average calculated head grade of 1.8 grams per tonne gold.
• Composite YJPQ04 was constructed of samples with 5 to 10 per cent quartz veining and had an average calculated head grade of 0.56 gram per tonne gold.
• Composite YJPQ05 was constructed entirely of stockwork and had an average calculated head grade of 0.46 gram per tonne gold.

Further metallurgical testing of the Yellowjacket composite samples is under way to develop information on the potential for gravity gold recovery followed by agglomeration of the tailings on to the heap leach material from the disseminated resources for final recovery on the leach pad, a common processing system currently in use in Nevada.

Preliminary economic assessment status

The company also wishes to confirm that, with the release of the new estimated mineral resources for the NBP, effective March 25, 2014, there is no longer a current preliminary economic analysis for the NBP and the previous preliminary economic assessment for the NBP released on Oct. 28, 2013, is no longer valid.

About the North Bullfrog project, Nevada

Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 68 square kilometres 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 $1,300 (U.S.) 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 deposit has an indicated mineral resource of 3.69 million tonnes at an average grade of 1.03 grams per tonne gold and 5.52 grams per tonne silver for 122,000 contained ounces of gold and 654,000 ounces of silver and an inferred mineral resource of 18.40 million tonnes with an average grade of 0.94 gram per tonne gold and 6.16 grams per tonne silver for 555,000 contained ounces of gold and 3.64 million ounces of silver, both at a 0.29-gram-per-tonne gold cut-off.

The five oxidized disseminated heap leach deposits contain an indicated mineral resource of 25.72 million tonnes at an average grade of 0.29 gram per tonne gold for 240,000 contained ounces of gold and an inferred mineral resource of 185.99 million tonnes at 0.19 gram per tonne gold for 1,136,000 contained ounces of gold (both at a 0.13-gram-per-tonne gold cut-off), with appreciable silver credits.

For full details with respect to the assumptions underlying the current resource estimate detailed herein, and listing of all of the metallurgical testing data please review the company’s latest National Instrument 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.

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 chief executive officer, 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 chief operating officer, 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’s Nevada exploration manager, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site employees 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, Nev., for preparation and then on to ALS Minerals in Reno or Vancouver for assaying. ALS Minerals’ 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.

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.)

*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

Full assay results have now been received from hole NB-14-378 (initially reported in NR-14-08, March 3, 2014) which intersects the West Vein about 65 metres down dip from hole NB-14-379.  The hole returned a vein intersection of 9.2 metres @ 18 g/t gold and 260 g/t silver, thereby establishing the elevation control on the top of the high grade veins in the greater Yellowjacket – West Vein area (Figure 2).  This same elevation control may be reflected in hole NB-14-380 (initially reported in NR-14-09, March 13, 2014) with an upper zone, at 50 metres down-hole depth, of 3.6 metres of 4.19 g/t gold and 150 g/t silver and a lower zone, about 40 metres down-hole deeper, of 4.8 metres @ 13.8 g/t gold and 243 g/t silver.  The assays from the remainder of this hole, which include the areas between and surrounding the veins, are pending.  As the Phase One program continues, drilling is intended to outline the expansion potential of the new West Vein discovery and conduct initial testing of the northern and southern extension potential, as well as test the depth extent, of the Yellowjacket deposit.

An additional five holes have now been completed in the West Vein target area and visible gold and silver (acanthite) associated with quartz veining has been observed in a number of intervals.  The most productive zone for thick quartz vein development in the West Vein target currently appears to start below 40 metres down-hole in depth and has only been tested to 100 metres down-hole depth at this time (Figure 2).  Continuity of this new vein system has now been established for over 100 metres in strike length and remains open (Figure 1).  The Company believes that the West Vein will ultimately intersect the Main Josh Vein towards the North and South at different depths.

Jeff Pontius, Corvus CEO, stated “The extension of the main Josh Vein to the south and the development of a large new high-grade quartz vein system in the West Vein target bode well for the potential expansion of the Yellowjacket high-grade resource.  As we drill these priority high-grade targets we continue to find new and exciting potential for an expanding system.  Of particular interest is following the Yellowjacket system at depth and exploring for other parallel systems to the west like the new West Vein discovery.  The robust nature of the current estimated resource in a low gold price environment and its leverage to higher prices has defined North Bullfrog as a significant new Nevada gold discovery with attractive exploration potential.”

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.)

*The veining and stockwork veining have been defined by geological observation of the percentage of veining in the interval, e.g. >5% quartz vein is peripheral stockwork and >15% quartz veining is stockwork. No cut-off grade has been applied.

Yellowjacket Vein Zone Exploration

The Yellowjacket Vein Zone at North Bullfrog is currently defined by the Josh Vein on the west and the Liberator Fault on the east (Figure 1).  The interaction of these two faults has created a large broken zone which contains major veins, 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 and also carries substantial high-grade gold and silver mineralization with similar resource potential as it extends to the south.

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 high-grade gold and silver veins.  This new information indicates that there is significant potential for mineralization along the northeast structures themselves as they go across the main low-grade deposit to the west.  In addition the wedge-shaped zone between the Josh Vein and the Liberator Fault has proven to have many more mineralized structures than previously thought, thereby enhancing the overall potential for additional high-grade mineralization (Figure 2).

The 5,000 metre Phase One drilling program at North Bullfrog will continue to focus on delineating the limits of 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 high-grade vein systems.

Figure 1: Location of 2014 drillholes 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 the Yellowjacket Zone and hole NB-13-380 reported here.

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 Corp.  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 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, investors are urged to 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 websitewww.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.  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

Vancouver, B.C. – Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces the filing of an independent NI-43-101 technical report on the new resource calculation for its 100% owned North Bullfrog Project, Nevada.  This independent resource calculation incorporates new drilling conducted in 2012 and 2013 which was used to calculate a new mineralization inventory for the Yellowjacket and Sierra Blanca portions of the project.  However, in the technical report the entire project Mineral Resource estimate has been updated (Table 1) using Corvus Gold’s new reporting criteria which only reflects that portion of the mineralization inventory which falls within a conceptual WhittleTM pit shell and would be scheduled for processing as defined at a US $1300 gold price.  The WhittleTM pit optimization process is not a full economic analysis but it does indicate what portions of the mineralization inventory might have reasonable prospects for economic extraction by open pit mining given assumed mining, processing, administrative costs and metal recovery at a specific gold price (Table 2).

In comparison to the estimated resource at 0.3 g/t Au cut-off grade announced on February 25, 2014 (NR14-07), the Table 1 Yellowjacket Indicated Mineral Resource has 6% higher Au grade and 2% less contained gold and the Inferred Mineral Resource has 34% higher grade and 30% less contained gold.  The Table 1 Disseminated Indicated Mineral Resource at 0.1 g/t has 12% higher grade and 22% less contained gold, and the change in Inferred Mineral Resource is 6% higher grade and 17% less contained gold.  The differences arise from the use by the Company of a more rigorous approach to determining reasonable prospects for economic extraction, which has resulted in an estimated mineral resource that the Company believes better reflects the potential of the North Bullfrog Project compared to the less constrained method utilized in the past.  The Company believes that the parameters used in the WhittleTM pit optimization process (Table 2) are realistic and reasonable based on comparisons with similar projects in the area.

Table 1
Indicated and Inferred Mineral Resource Estimate for North Bullfrog including the Yellowjacket Vein/Stockwork Deposit and All Disseminated Oxide Deposits

*Analysis assumes a fixed ratio of the gold to silver prices of 59
**Breakeven grade derived from Whittle input parameters at US$1,300/oz gold price and Silver:Gold ratio of 59

To illustrate the sensitivity of the estimated resource to changes in the gold and silver price, Table 3 shows the portions of the mineralization inventory falling within WhittleTM pit shells that would be scheduled for processing at various gold prices from US $700 to US $1,500.  Of note is that, given a US $900 per ounce gold price, the Yellowjacket deposit (milling) has an estimated Indicated Mineral resource of 1.99 Mt at an average Au grade of 1.53 g/t for 98,000 contained Au ounces, and an estimated Inferred Mineral resource of 8.82 Mt at an average Au grade of 1.39 g/t for 394,000 contained Au ounces (both at a 0.38 g/t Au cutoff), and the disseminated deposits (heap leach) have an estimated Indicated Mineral Resource of 15.07 Mt at an average Au grade of 0.32 g/t for 155,000 contained Au ounces and an estimated Inferred Mineral Resource of 91.09 Mt at an average Au grade of 0.22 g/t for 644,000 contained Au ounces, both at a 0.18 g/t Au cutoff).

Table 2
WhittleTM Input Parameters used for the North Bullfrog Resource Estimation

*assumes heap leach processing of disseminated mineralization
**assumes CIL mill processing of Yellowjacket mineralization
***break-even grade derived from Whittle input parameters at US$1,300 per ounce gold price, and Silver:Gold ratio of 59

Jeff Pontius, Corvus CEO, stated “The new initial Yellowjacket resource linked with our ongoing exploration success on new high-grade vein system discoveries indicates that there is significant potential to grow this deposit.  Our initial drilling focus remains on the continued expansion of the Yellowjacket Deposit along strike and at depth as well as other new parallel and internal systems like the West Vein.  In addition, we plan to drill other new, large untested systems to the west of Yellowjacket and in the District as a whole in the coming months with the aim of further unlocking the potential of this new Nevada high-grade gold-silver discovery.

Table 3
Analysis of the sensitivity to gold price of the North Bullfrog mineralization inventory
(Tonnes and grade indicate the portions of the mineralization inventory estimated to fall within the WhittleTM pit and be scheduled to processing at various gold prices)

*Analysis assumes a fixed ratio of the gold to silver prices of 59
** Breakeven grade derived from WhittleTM input parameters

March 2014 North Bullfrog Resource – Technical Report

Mr. Scott Wilson of Metal Mining Consultants, Inc., Mr. Gary Giroux of Giroux Consultants Ltd. and Mr. Herbert Osborne of H. C., Osborne & Associates were retained by Corvus to prepare a new mineral resource estimate for the North Bullfrog Project.  The new resource estimate, which has an effective date of March 25, 2014, is contained in a NI 43-101 technical report dated April 1, 2014 entitled “Technical Report – The North Bullfrog Project, Bullfrog Mining District, Nye County, Nevada” and filed on SEDAR on April 2, 2014 (the “Report”).

Corvus Gold and its independent qualified persons (QP’s) as defined by NI 43-101 have taken a new approach to their estimate of the mineral resource at North Bullfrog with the publication of the Report.  This new standard limits the estimated mineral resource to that portion of the geostatistically modeled mineralization inventory which is contained within a conceptual WhittleTM pit and scheduled to processing at a US $1,300 gold price. The WhittleTM optimization process considers three parameters simultaneously, which are: the value of recoverable metal in each block in the mineral inventory; the costs of mining, processing and administration for that block; and the realistic geometrical development of the open pit.  If the value exceeds the costs and the integrity of the pit is maintained then each block within the pit shell is scheduled either to the process stream or to waste.

Mr. Giroux produced the updated estimate of the North Bullfrog mineralization inventory (effective as at March 25, 2014), based on resource drilling in the Sierra Blanca and Yellowjacket areas of the North Bullfrog Project that occurred in 2012 and 2013 (Figure 1).  The new mineral inventory calculation includes an additional 16,209 samples derived from 111 holes totalling 23,020 metres with an average depth of 207 metres.  The inventory also incorporates an updated geologic model and additional rock density data.  Previous mineralization inventory estimates from the Jolly Jane, and Mayflower deposits were not updated because no additional drilling has been conducted in those areas (Figure 1).

To estimate the mineral resource for North Bullfrog, Mr. Wilson utilized the block models of mineralization prepared by Mr. Giroux as part of the input data for his estimation of that portion of the mineral inventory that was contained within the US $1300 open pit shell defined by the Lerchs-Grossman algorithm used in the WhittleTM Program, and which would be scheduled to be sent to a processing facility.

Constraints on the Revised Mineral Inventory and Resource

The structurally controlled mineralization in the Yellowjacket Zone was modelled separately in several geologically defined domains to prevent smearing of high-grade mineralization into the surrounding blocks.  For the purposes of estimating the mineral resource, the different Yellowjacket domains have been combined because of the geological similarities.  Based on the current metallurgical data on Yellowjacket mineralization, it has been assumed that this material will be processed through a separate milling circuit and thus carries different processing costs and recoveries resulting in cut-off grades different than the heap leach processing.  These additional costs and recoveries have been accounted for in the WhittleTM pit analysis.

The disseminated mineralization at Sierra Blanca was also modeled in a series of discrete volumes to prevent grade smearing across certain important grade-controlling faults.  The disseminated oxide mineralization has been modeled based on Corvus’ current metallurgy for heap leach processing with each block having an estimated heap leach recovery.  The heap leach feed then carries the costs associated with heap leach processing as reflected by the cut-off grade.

The North Bullfrog project mineralization inventory now includes five deposit areas: Yellowjacket, Sierra Blanca, Air Track West, Jolly Jane and Mayflower (Figure 1).  Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted by structural zones with breccias and quartz-sulphide vein stockworks such as the Yellowjacket and Mayflower targets.  The Yellowjacket, Sierra Blanca and Jolly Jane deposits remain open and are current exploration targets for the Company in 2014.

Figure 1: Corvus land position at North Bullfrog with estimated resource areas shown.

Yellowjacket High-Grade Resource

The Yellowjacket estimated resource area is immediately east of the Sierra Blanca deposit and was modeled as a specific zone within the greater Sierra Blanca deposit.  The zone has a North-Northwest trend and is currently defined by the Josh Vein on the west and the Liberator Fault on the east.  This zone includes vein and stockwork vein type mineralization controlled by the interaction of the two structures.  While the main vein drilled to date has a NNW trend, the step over structures between the main faults appears to have a north-easterly trend.  Although the bulk of the indicated mineralization within the current resource estimate is hosted by one vein system, other veins have been intersected by the drilling and will be further explored with the ongoing exploration program.

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 Corp.  The property package, shown in Figure 2, is made up of a number of private mineral leases of patented federal lode mining claims and 758 federal unpatented lode mining claims.  The Project has excellent infrastructure, being adjacent to a major highway and power corridor.

Qualified Person and Quality Control/Quality Assurance

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.

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.

Mr. Scott E. Wilson, SME, President of Metal Mining Consultants Inc., is an independent consulting geologist specializing in mineral reserve and resource calculation reporting, mining project analysis and due diligence evaluations.  He is acting as the Qualified Person, as defined in NI 43-101, for the overall technical report, and specifically for the Mineral Resource Estimate (other than the estimate of the North Bullfrog mineralization inventory).  Mr. Wilson has over 23 years experience in surface mining and is a Registered Member of the Society of Mining, Metallurgy and Exploration.  Mr. Wilson and Metal Mining Consultants, Inc. are independent of the Company under NI 43-101.

Mr. Gary Giroux, M.Sc., P. Eng (B.C.), a consulting geological engineer employed by Giroux Consultants Ltd., has acted as the Qualified Person, as defined in NI 43-101, for the estimate of the North Bullfrog mineralization inventory.  He has over 30 years of experience in all stages of mineral exploration, development and production.  Mr. Giroux specializes in computer applications in ore reserve estimation, and has consulted both nationally and internationally in this field.  He has authored many papers on geostatistics and ore reserve estimation and has practiced as a Geological Engineer since 1970 and provided geostatistical services to the industry since 1976.  Both Mr. Giroux and Giroux Consultants Ltd. are independent of the Company under NI 43-101.

Mr. Herbert Osborne, SME, a consulting metallurgist, has acted as the Qualified Person, as defined by NI 43-101, for evaluation of the metallurgical testing data.  He has over 50 years of experience in mineral process design and operations.  He is a registered Member of the Society of Mining, Metallurgy and Exploration (SME Member No. 2430050 RM).  Mr. Osborne is independent of the Company under NI 43-101.

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

• Establishes lateral and vertical continuity of new West Vein high-grade system

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces additional drill results from its 2014 exploration program at the North Bullfrog Project, Nevada. Two separate veins were intersected within hole NB-14-380. Results of the two veins were prioritized, yielding intercepts of 4.2 g/t gold and 150 g/t silver over 3.6 metres in the upper vein and 13.8 g/t gold and 243 g/t silver over 4.8 metres in the main vein (Table 1, Figures 1 & 2). This hole is situated 50 metres south of NB-14-378 (NR-14-08, March 3, 2014) and demonstrates the continuity of the newly identified West Vein located 50 metres to the west of the high-grade gold-silver Yellowjacket Deposit.

Figure 1: Location of 2014 drilling at Yellowjacket. Red collar and trace indicate NB-14-380. Blue collars and traces are holes with assays pending. Blue dashed line is surface projection of Josh vein drilled in 2013. Red dashed line is projection of the new West Vein results from NB-14-380. A-B marks the location of Figure 2.

Assays are pending for the remainder of NB-14-380, which includes mineralized surrounding stockwork veining similar to the Josh Vein to the east. This represents an important addition to the vein system at Yellowjacket and illustrates the new discovery potential for additional high-grade veins even in the immediate Yellowjacket Deposit area.

Jeff Pontius Corvus Gold CEO states… “This new vein system which is similar to the Josh Vein immediately to the east, offers great potential to significantly expand the Yellowjacket Mineralized Zone. The location of this new high-grade mineralization within the overall larger low-grade Sierra Blanca deposit bodes well for other internal high-grade targets to be tested this year. The southern extent of this new system is completely open and could add dramatically to the overall value of the North Bullfrog project and Corvus as a whole.”

Table 1
Assays from NB-14-380 Quartz Vein Intercepts
(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.)