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Follow-Up Drilling Commences at Corvus Gold’s Yellow Jacket High-Grade Target

Corvus Gold Inc. announces the start of its follow up drill program on the high-grade gold target at Yellow Jacket on its North Bullfrog project in Nevada. The program will target the down dip extension of core zone mineralization that was intersected in the Company's recent hole NB12-138 (4.3 metres at 20.0 g/t gold and 1,519 g/t silver).

Results from a recently completed 3D IP geophysical survey at North Bullfrog has provided important targeting information for follow up drilling. In addition to targets at Yellow Jacket, results have highlighted a number of other highly favourable structural zones with high-grade potential on the property (Figure 1). In addition, this survey has further defined favourable areas for the expansion of the bulk tonnage deposits in the North Area. The drilling program will begin with one diamond core rig and expand when new permits are received at the end of the year.

Jeff Pontius, Corvus Gold CEO states: "Follow-up drilling is opening up an exciting new value component for the project and our Company as a whole. The new high-grade targeting information has identified a number of highly encouraging targets that indicate expansion potential of both high-grade and bulk tonnage mineralization outside the current defined area."

Yellow Jacket Target

The Yellow Jacket target is associated with an intensely fractured, deep seated north-south trending fault zone. This zone hosts a variety of vein related high-grade gold and silver mineralization with a large surrounding, low-grade, disseminated zones. There are two important types of veins. Single stage quartz veins with pyrite have been encountered in holes NB-12-126 (5.7 metres of 6.56 g/t gold and 9.94 g/t silver) and NB-12-127 (7.7 metres of 2.43 g/t gold and 11.31 g/t silver) while more complex silicified hydrothermal breccias with fragments of banded colloform quartz were encountered in hole NB-12-138 (4.3 metres of 20.0 g/t gold and 1,519 g/t silver). Analysis of vein textural variations together with variations in clay mineralogy is helping to unravel the mechanics of this kilometer long structural zone that hosts significant high-grade mineralization. The follow up drill program will initially focus on expanding and defining the geometry of the core zone mineralization but will then begin to look at other high priority targets in the District.

District High-Grade Potential

Surface sampling, drilling and the new geophysical study have highlighted several high potential areas for both expansions of the current oxide heap leach resource and undiscovered high-grade systems. Historically several high-grade vein systems where mined at the turn of the century in the North Bullfrog District with similarities to the veins mine by Barrick Gold in the 1990's at the Bullfrog Mine 8 kilometres south. New priority high-grade targets have been identified at the Road Fault, West Sierra Blanca and West Savage Valley which will be tested following the next phase of Yellow Jacket drilling. In addition, targeting work is ongoing in the Mayflower area to follow up the new high-grade, banded adularia vein discovery (NB-12-141 with 1.1 metres of 6.85 g/t gold and 1.9 g/t silver).

New 3D Induced Polarization Geophysical Survey

The 3D induced polarization survey, conducted by SJ Geophysics, was designed to provide information about the structure and alteration around the North Area deposits. The survey consisted of 36 line kilometres which has provided 3D coverage over an area of 5.6km². The primary objective of the survey was to define the locations of key structures related to high-grade vein type mineralization, particularly in the Yellow Jacket area. In addition the survey has mapped key stratigraphic controls and alteration associated with the large bulk tonnage deposits in the area. The final 3D inversion was received in mid-September and the data has played an important role in the targeting of follow-up drilling programs for both the high-grade program and the extension of existing oxide heap leach resources

Source: http://www.corvusgold.com

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