Mr. Jeffrey Pontius reports
CORVUS GOLD EXPANDS GOLD MINERALIZATION TO THE NORTHWEST AT THE MOTHER LODE PROJECT, NEVADA
Corvus Gold Inc. has received further positive results from the phase 3 resource expansion drilling program at the Mother Lode project, Nevada.Results include a stepout hole to the northwest of the currently defined deposit along the Western Feeder zone (ML18-083, 65.5 metres at 1.53 grams per tonne gold) and a deep expansion of the main deposit in holes ML18-082 and 084 with 22.9 m at 2.53 g/t Au and 54.9 m at 1.6 g/t Au, respectively, in the deep oxide zone. Drilling continues at the project with mineralization open in all directions including at depth.
Jeffrey Pontius, president and chief executive officer of Corvus, stated: "Mineralization in hole ML18-083 is encouraging as it demonstrates that the system appears to be getting thicker and better mineralized to the north of the currently defined deposit.We have scheduled a series of eight additional holes to the north and northeast of hole ML18-083 to be drilled during phase 3 that potentially opens a new exploration front on the deposit.The Mother Lode deposit continues to grow while adding continuity with additional drilling.In addition, Corvus expects to announce a preliminary economic assessment for the combined North Bullfrog and Mother Lode projects within the next few weeks to provide an initial economic snapshot of this new and growing Nevada gold district."
PHASE 3 -- MOTHER LODE DRILLING RESULTS Drill hole No. From ToInterval Gold Silver(m)(m) (m)(g/t)(g/t)ML18-082 211.84 220.989.14 0.33n/a 225.55 245.36 19.81 0.60n/a 252.98 268.22 15.24 0.75n/a 275.84 298.70 22.86 2.53n/aincl.275.84 298.70 22.86 2.53n/aML18-083 295.66 301.756.09 0.32n/a 323.09 388.62 65.53 1.53n/aincl.323.09 326.143.05 1.84n/aincl.330.71 333.763.05 2.31n/aincl.338.33 377.95 39.62 1.93n/aML18-084 233.17 239.276.10 0.79n/aincl.234.70 237.743.05 1.02n/a 248.41 251.463.05 0.32n/a 271.27 326.14 54.87 1.60n/aincl.275.84 278.893.05 1.46n/aincl.284.99 324.61 39.62 1.89n/a 330.71 336.806.09 0.87n/aReported intercepts are not true widths as there are currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.3 g/t cut-off unless otherwise indicated.
2018 AGM results
In addition, the 2018 AGM was held on Oct. 11, in Vancouver, B.C. All resolutions put forward at the meeting were approved by shareholders.A total of 76,095,270 common shares, representing 71.80 per cent of the votes attached to all outstanding shares as at the record date of the meeting, were represented at the AGM. The following individuals were re-elected, by ballot, as directors of the company:Steven Aaker, Anton Drescher, Catherine Gignac, Edward Yarrow, Rowland Perkins and Mr.Pontius.
The detailed voting by ballot in respect of the election of directors is shown in the associated table.
NomineeVotes for Votes withheldSteven Aaker 67,256,096 (99.89%) 72,845 (0.11%)Anton Drescher 46,393,339 (68.91%)20,935,602 (31.09%)Catherine Gignac 66,423,646 (98.66%)905,295 (1.35%)Rowland Perkins67,260,885 (99.90%) 68,056 (0.10%)Jeffrey Pontius67,258,721 (99.90%) 70,220 (0.10%)Edward Yarrow67,260,085 (99.90%) 68,856 (0.10%)Note Routine U.S. broker-vote shares voted without beneficial owner instructions are only eligible to vote for the appointment of auditors. Accordingly, 8,766,329 common shares were represented by proxy, but not voted.
By a resolution unanimously passed, Crowe MacKay LLP was appointed as the auditor for the company for the fiscal year ending May 31, 2019, and, in accordance with the articles of the company, the directors were authorized to fix the auditor's remuneration.
The result of the proxy voting on this matter was as follows:
Votes for: 75,987,021 (99.86 per cent);Withheld: 108,249 (0.14 per cent).
The detailed report of voting results on all resolutions for the company's 2018 AGM is available under the company's profile on SEDAR, on the company's website, in the company's current report on Form 8-K as filed with the U.S. Securities and Exchange Commission available under the company's profile on EDGAR, or upon request by contacting the company's corporate secretary at 604-638-3246.
Qualified person and quality control/quality assurance
Mr. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, 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 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 co-ordinated 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 Mother Lode 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 American Assay Laboratories (AAL) in Reno, Nev., for preparation and assaying. AAL is independent of the company. AAL'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 AAL and an ISO-compliant third party laboratory for additional quality control. Mr. Reischman, a qualified person, has verified the data underlying the information disclosed herein, including sampling, analytical and test data underlying the information by reviewing the reports of AAL, methodologies, results and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement. There were no limitations on the verification process.
About the North Bullfrog and Mother Lode projects, Nevada
Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 72 square kilometres 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 433 federal unpatented mining claims on the Mother Lode project which totals approximately 35 square km, in which it owns 100 per cent. The total Corvus Gold 100-per-cent land ownership now covers over 100 square km, hosting two major new Nevada gold discoveries.
The Mother Lode project contains a measured mineral resource for the mill of 3.29 million tonnes at an average grade of 1.41 g/t gold, containing 149,000 ounces of gold and indicated mineral resources for the mill of 9.93 million tonnes at an average grade of 1.83 g/t gold containing 583,000 ounces of gold and an inferred mineral resource for the mill of 2.17 million tonnes at an average grade of 1.60 g/t gold containing 112,000 ounces of gold. In addition, the project contains a measured mineral resource for oxide, run of mine, heap leach of 20.04 million tonnes at an average grade of 0.29 g/t gold containing 185,000 ounces of gold and an indicated mineral resource for, oxide, run of mine, heap leach of 20.1 million tonnes at an average grade of 0.37 g/t gold containing 242,000 ounces of gold and an inferred, oxide, run of mine, heap leach mineral resource of 14.1 million tonnes at an average grade of 0.29 g/t gold containing 129,000 ounces of gold. Refer to the news release of Corvus dated Sept. 18, 2018, for additional information.
About Corvus Gold Inc.
Corvus Gold is a North American gold exploration and development company, focused on its near-term gold-silver mining project at the North Bullfrog and Mother Lode districts in 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 its projects to maximize share price leverage in an advancing gold and silver market.
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