Corvus Gold Continues to Expand Open-ended Western Zone, North Bullfrog Project

Precious Metals

Corvus Gold Inc. (TSX: KOR, OTCQX: CORVF) announces results from an additional nine holes in the Western Zone (Table 1). These latest results continue to outline a broad zone of near surface, shallow mineralization over a strike length of at least 700 metres and over a width of at least 200 metres, which lies immediately west of the current designed pit perimeter (Figure 1). The Western Zone has two, broad, higher grade, and structurally controlled, stockwork quartz zones internally, with grades above the 0.52 g /t mill cutoff grade and is believed to have higher grade potential at depth. It appears the Western Zone remains open to the south, west and at depth and is an immediate follow-up drill target for further potential resource expansion.

Corvus Gold Inc. (TSX:KOR, OTCQX: CORVF) announces results from an additional nine holes in the Western Zone (Table 1). These latest results continue to outline a broad zone of near surface, shallow mineralization over a strike length of at least 700 metres and over a width of at least 200 metres, which lies immediately west of the current designed pit perimeter (Figure 1). The Western Zone has two, broad, higher grade, and structurally controlled, stockwork quartz zones internally, with grades above the 0.52 g /t mill cutoff grade and is believed to have higher grade potential at depth. It appears the Western Zone remains open to the south, west and at depth and is an immediate follow-up drill target for further potential resource expansion.
Highlights:
NB-17-332: 42.7m @ 0.78 g/t Gold & 15.2m @ 0.82 g/t Gold
NB-17-333: 19.8m @ 1.05 g/t Gold
NB-17-338: 15.2m @ 0.98 g/t Gold
NB-17-340: 12.2m @ 0.88 g/t Gold & 11.2 g/t Silver

Figure 1 Map showing new Western Zone drill hole locations

Jeff Pontius, President and CEO of Corvus said, “The follow-up results from our drilling on the Western Zone have been encouraging and are outlining what appears to be a potential expansion of the main deposit to the west under shallow gravel cover. As this zone is still open in many directions, its impact on any potential resource expansion is unconstrained at this point. For the past 4 weeks Corvus has been testing our first group of “New Discovery” targets away from the main deposit area and we are encouraged by the strength and size of the alteration systems we have been intersecting, with initial results expected in the next few weeks. We are of the view that the more we work and drill on the North Bullfrog project, the more potential emerges for a major discovery.”

Table 1
Phase II Drill Results – Western Zones
(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.)

	From (m)	To (m)	Length (m)*	Gold (g/t)	Silver (g/t)
NB-17-332	47.24	184.4	137.16	0.45	1.15
AZ 085 dip-70 *inc*	*51.82*	*67.06*	*15.24*	*0.82*	*1.59*
*inc*	*80.77*	*123.44*	*42.67*	*0.78*	*1.38*
	188.98	213.36	24.38	0.13	0.30
	Hole ended in gold mineralization

NB-17-333	88.39	190.5	102.11	0.38	0.93
AZ 090 dip-65 *inc*	*91.44*	*111.25*	*19.81*	*1.05*	*1.85*

NB-17-334	76.20	155.45	79.25	0.31	0.76
AZ 090 dip-55 *inc*	*76.20*	*80.77*	*4.57*	*0.56*	*0.85*
*inc*	*124.97*	*138.68*	*13.71*	*0.60*	*1.35*
	167.64	172.21	4.57	0.12	0.36
	176.78	214.88	38.10	0.25	1.14
*inc*	*192.02*	*196.60*	*4.57*	*0.97*	*4.01*
	Hole ended in gold mineralization

NB-17-335	64.01	92.96	28.95	0.49	1.97
AZ 090 dip-55 *inc*	*67.06*	*79.25*	*12.19*	*0.78*	*2.34*
	99.06	160.02	60.96	0.31	6.28
*inc*	*132.59*	*135.64*	*3.05*	*1.04*	*7.00*
*inc*	*140.21*	*141.73*	*1.52*	*1.01*	*18.00*
*inc*	*147.83*	*149.35*	*1.52*	*0.76*	*59.00*

NB-17-336	42.67	48.77	6.10	0.26	0.37
AZ 085 dip-45	57.91	65.53	7.62	1.04	0.69
*inc*	*59.44*	*62.48*	*3.05*	*2.18*	*0.94*
	109.73	114.30	4.57	0.38	0.74
	137.16	140.21	3.05	0.31	0.80
	146.30	179.83	33.53	0.34	0.41
*inc*	*150.88*	*152.40*	*1.52*	*0.95*	*0.41*
*inc*	*160.02*	*164.59*	*4.57*	*0.61*	*0.66*

	From (m)	To (m)	Length (m)*	Gold (g/t)	Silver (g/t)
NB-17-337	30.48	41.15	10.67	0.36	0.46
AZ 090 dip-50 *inc*	38.10	39.62	1.52	1.21	1.34

NB-17-338	45.72	70.10	24.38	0.71	1.33
AZ 090 dip-50 *inc*	*47.24*	*62.48*	*15.24*	*0.98*	*1.65*
	76.20	91.44	15.24	0.26	0.53

NB-17-339	132.59	134.11	1.52	0.34	0.49
AZ 090 dip -55

NB-17-340	65.53	68.58	3.05	0.58	0.45
AZ 085 dip-60 *inc*	*67.06*	*68.58*	*1.52*	*1.03*	*0.60*
	73.15	150.88	77.73	0.43	2.67
*inc*	*76.20*	*79.25*	*3.05*	*0.93*	*2.38*
*inc*	*105.16*	*117.35*	*12.19*	*0.88*	*11.22*
*inc*	*129.54*	*137.16*	*7.62*	*0.94*	*0.65*

* Mineralized thickness calculated @ 0.10 g/t Au cutoff with internal intervals calculated @ 1.0 g/t Au cutoff

Western Zone
The mineralization intersected in the Western Zone is controlled by a large northeast trending structural zone which can be tracked for a strike length of nearly 1.5 kilometres. Drilling to date has tested about ½ the length of the Western Zone structural extent. The zone contains two discreet fault zones that host higher grade mineralization and display good continuity along strike. These zones have been intersected from near surface down to a vertical depth of about 150 metres which is the depth of the currently designed pit to the east.
Additional potential exists for one or more zones to develop to the west of the current drill area as illustrated in prior hole NB-17-329 (NR17-2, February 23, 2017) with 38.1m @ 0.97 g/t gold from a new zone. In addition, exploration in 2014 tested a structural target some 300 metres west of the Western Zone and outlined a small higher grade resource whose expansion potential has yet to be followed up. The Western Zone and the large area of shallow gravel cover which could host a number of new zone of shallow, higher grade mineralization.
About the North Bullfrog Project, 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 North Bullfrog project includes numerous prospective gold targets at various stages of exploration with four having NI 43-101 mineral resources (Sierra Blanca, Jolly Jane, Mayflower and YellowJacket). The project contains a measured mineral resource of 3.86 Mt at an average grade of 2.55 g/t gold and 19.70 g/t silver, containing 316.5k ounces of gold and 2,445k ounces of silver, an indicated mineral resource of 1.81 Mt at an average grade of 1.53 g/t gold, and 10.20 g/t silver, containing 89.1k ounces of gold and 593.6k ounces of silver and an inferred resource of 1.48 Mt at an average grade of 0.83 g/t gold and 4.26 g/t silver, containing 39.5k ounces of gold and 202.7k ounces of silver for oxide mill processing. The mineral resource for the mill process was defined by WhittleTM optimization using all cost and recovery data and a breakeven cut-off grade of 0.52 g/t gold. In addition, the project contains a measured mineral resource of 0.3 Mt at an average grade of 0.25 g/t gold and 2.76 g/t silver, containing 2.4k ounces of gold and 26.6k ounces of silver, an indicated mineral resource of 22.86 Mt at an average grade of 0.30 g/t gold and 0.43 g/t silver, containing 220.5k ounces of gold and 316.1k ounces of silver and an inferred mineral resource of 176.3 Mt at an average grade of 0.19 g/t gold and 0.67 g/t silver, containing 1,077.4k ounces of gold and 3,799.2k ounces of silver for oxide, heap leach processing. The mineral resource for heap leach processing was defined by WhittleTM optimization using all cost and recovery data and a breakeven cut-off grade of 0.15 g/t.
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 North Bullfrog 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 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.
For additional information on the North Bullfrog project, including information relating to exploration, data verification and the mineral resource estimates, see “Technical Report and Preliminary Economic Assessment for Combined Mill and Heap Leach Processing at the North Bullfrog Project, Bullfrog Mining District, NYE County, Nevada” dated June 16, 2015 as amended and restated May 18, 2016 which is available under Corvus’ SEDAR profile at www.sedar.com.
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 North Bullfrog, 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 those discoveries to maximize share price leverage in a recovering gold and silver market.
Click here to learn more about Corvus Gold Inc. (TSX: KOR, OTCQX: CORVF).