Mr. Jeff Pontius reports
CORVUS GOLD EXPANDS MINERALIZATION AT NORTH JOLLY JANE AND CAT HILL TARGETS, NORTH BULLFROG PROJECT
Corvus Gold Inc. has released results from initial drill testing of four new targets and follow-up drilling on the North Jolly Jane and Cat Hill targets. Follow-up drill holes from the Cat Hill and North Jolly Jane targets have continued to return broad zones of low-grade mineralization with a few narrower zones of +0.5 g/t gold (Table 1). Results from four other new targets only returned low-grade mineralization over moderate to wide widths.
Jeff Pontius, President and CEO of Corvus said: "The New target drilling at the North Bullfrog project has outlined several areas of broad low-grade gold and silver mineralization across the District. Although we have yet to intersect a YellowJacket-like new vein system, the results continue to demonstrate the extensive nature of gold mineralization over a large area of the District, with only less than 25% of the prospective areas having been drilled. Corvus will be integrating this new scout drilling into the District exploration model to target further new exploration work in the fall. The immediate focus of the Corvus exploration team will be its new Mother Lode project, announced on June 6, 2017, which we believe has potential for a high-grade gold system larger than the company's current YellowJacket deposit. Work has already begun on the Mother Lode project and initial drilling permits will be submitted in the next two weeks. 2017 will see a very active drilling program at Mother Lode with a goal of adding the deposit into the North Bullfrog production plan and revised PEA in 2018."
Phase II Drill Results From (m) To (m) Length (m)* Gold (g/t) Silver (g/t)NB-17-435 254.51 262.137.62 0.11 0.22NB-17-43677.7283.826.10 0.16 0.05NB-17-43736.5842.676.09 0.13 0.04103.63 105.161.52 0.27 0.06NB-17-43827.4332.004.57 0.14 0.05 68.58 100.58 32.00 0.28 0.25117.35 141.73 24.38 0.22 0.13158.50 166.127.62 0.41 0.41233.17 243.84 10.67 0.24 1.33NB-17-43912.1922.86 10.67 0.12 0.19 38.1051.82 13.72 0.13 0.19150.88 155.454.57 0.23 0.16NB-17-440 266.70 269.753.05 0.12 0.25NB-17-441 No significant resultsNB-17-442 135.64 137.161.52 0.13 1.24NB-17-443 118.87 128.029.15 0.12 0.20161.54 172.21 10.67 0.24 0.19196.60 320.04123.44 0.14 1.27NB-17-444 108.20 129.54 21.34 0.26 0.88135.64 185.93 50.29 0.35 1.08incl. 149.35 164.59 15.24 0.69 1.18211.84 245.36 33.52 0.21 0.77251.46 262.13 10.67 0.12 0.37NB-17-445 167.64 173.746.10 0.24 0.26181.36 210.31 28.95 0.40 0.53incl. 192.02 196.604.58 1.29 0.68216.41 281.94 65.53 0.24 1.24incl. 219.46 222.503.05 0.58 1.21329.18 390.14 60.96 0.22 2.12*Mineralized thickness calculated @ 0.10 g/t Au cutoff with internal intervals calculated @ 0.5 g/t Au cutoff.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.
North Jolly Jane Target
Follow-up drill hole NB-17-445 to the higher-grade zone at the North Jolly Jane target also intersected higher grade mineralization with 4.6m @ 1.29 g/t Au. As with earlier drill hole NB-17-432 (NR-17-4, April 4, 2017, 4.6m @ 0.77 g/t Au and 12.2m @ 0.76 g/t Au) this higher-grade mineralization is associated with stockwork quartz veining along the West Jolly Jane fault zone. The North Jolly Jane target is a very large, zone of low-grade mineralization with higher grades related to large fault systems. Further work is needed in this area to identify and test the feeder structures for this large gold system.
Cat Hill Target
The Cat Hill target hosts a large deeply oxidized low-grade gold system. Results to date have intersected widths and grades above cutoff for run of mine oxide material over a broad area but have yet to intersect mill grade material. The size of the mineralized system at Cat Hill is encouraging and further work is needed to identify the feeder structures for this system.
Results from the Cat Hill, North Jolly Jane, Jim Dandy and Savage target have demonstrated wide spread distribution of gold across the western side of the District. This extensive area of gold mineralization covers approximately 25 square kilometres and hosts three deposits. The eastern side of the District which is covered by a thin layer of high level barren alteration and is comparable in size and of similar age to the west and may host several new discoveries when further explored.
About the North Bullfrog Project, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers approximately 72 km Superscript 2 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 company also controls 65 federal unpatented mining claims on the Mother Lode project which totals 522 hectares which it owns 100% of.
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 Whittle(TM) 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 Whittle(TM) 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 projects at North Bullfrog & Mother Lode, 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.
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