Results For Lynnda Strip And Mother Lode In The Eastern Bullfrog Gold District

VANCOUVER - Corvus Gold Inc. has received additional drill holes results from the Mother Lode and Lynnda Strip oxide gold discoveries. It believes that these results will be an important addition to a maiden mineral resource estimate for Lynnda Strip and an updated Mother Lode mineral resource estimate scheduled for later in the year. The mineralization defined in these drill holes continues to support the large potential in the eastern Bullfrog District along the Mother Lode to Silicon belt. The Company remains focused on assessing its strategic property package along this belt by expanding its currently defined deposits as well as new target opportunities.

Lynnda Strip: Drill holes ML20-183CT (180m @ 0.79 g/t Au) and ML20-185CT (185.4m @ 0.82 g/t Au) continue to demonstrate the thick and consistent nature of the large oxide, Lynnda Strip deposit. In addition, these holes have continued to expand the broad, higher grade internal vein systems within the bulk tonnage deposit (ML20-183CT: 21.5m @ 3.32 g/t Au & 17m @ 1.1 g/t Au and ML20-185CT: 14.6m @ 3.4 g/t Au & 6.4m @ 1.41 g/t Au). The currently defined vein systems that Corvus has identified at Lynnda Strip appear to be coalescing toward a large new structure target at depth, which is feeding the overall Lynnda Strip deposit. One key element of this new high-grade target is the structural system between the Lynnda Strip and South Merlin deposits (Wizard Fault), immediately west of hole ML20-185CT which is currently being tested.

Mother Lode: Drill holes ML20-174CT (26.7m @ 2.57 g/t Au & 6.08 g/t Ag including 7.3m @ 4.70 g/t Au & 9.87 g/t Ag), and ML20-175CT (14.5m @ 6.48 g/t Au & 25.9 g/t Ag), continues to expand the North Feeder Zone and are approximately 200 meters north of drill holes ML20-160CT (30.2m @ 1.42 g/t Au & 86.9m @ 1.65 g/t Au) and ML20-176CT (110.8m @ 1.68 g/t Au, including 58.7m @ 2.47 g/t Au) from NR21-04, February 9, 2021. The new holes are suggesting the northern extension of the Northern Feeder Zone may be thinning but increasing in grade as we approach the Corvus property boundary, which is about 250 meters north of hole ML20-174CT. At this point it appears that the northern extension of the Mother Lode system could be transitioning into an underground target that could potentially be accessed out the bottom of an open pit.

Jeffrey Pontius, President and CEO, said, “With Corvus’ latest drill hole results we continue to add to the potential of the Eastern Bullfrog District along the productive Mother Lode to Silicon Belt. With the numerous discoveries and positive drill results that have been returned from the Eastern Bullfrog District, it appears this area is shaping up to host a large production center that could involve all major land owners in the area. With Corvus’ strong financial position and near-term production asset at North Bullfrog, the Company is well positioned to play a key role in the re-development of the Bullfrog Mining District.”