New Northern Target At The Mother Lode Project

VANCOUVER - Corvus Gold Inc. has received additional results from the new Northern, High-Grade Feeder Zone target of the Central Intrusive Zone (CIZ) at the Mother Lode project. Hole ML20-160CT drilled through the Main Zone returning 30.2m @ 1.42 g/t gold and then through the second intrusive dike of the CIZ below returning 86.9m @ 1.65 g/t gold, including 56.4m @ 2.34 g/t gold. Additionally, hole ML20-176CT drilled 50 metres to the east intersected 110.8m @ 1.68 g/t gold, including 58.7m @ 2.47 g/t gold where the Main and CIZ come together. These are similar results to hole ML20-165CT (130.5m @ 2.33 g/t gold) and ML20-159CT (83.9m @ 2.70 g/t gold) to the north. Hole ML20-179CT was drilled too far to the west to intersect the new Northern Feeder zone and only tested the upper part of the Main Zone before poor drilling conditions terminated the drilling.

These new, Northern Feeder Zone holes continue to enlarge the high-grade zone of mineralization in this part of the Mother Lode deposit and appear to further expand the deposit. The new Mother Lode mineral resource estimation will utilize the entire project drilling between August of last year through June of this year with an expected release planned for fall of this year. The newly defined large, higher-grade feeder system at Mother Lode occurs as a series of echelon zones along a north-northeast trend that likely has a corresponding deep-seated intrusive connection. We see these broad zones of higher-grade material directly related to intrusive dikes and continues to confirm the genetic relationship of the gold deposit to a high-level magmatic system at depth (shallow porphyry environment). The Northern Feeder Zone remains open to the north-northeast and at depth, with grades generally improving in both of these directions.

Jeffrey Pontius, President and CEO, said, “The expansion of the Northern Feeder Zone is a great development for the Mother Lode project and we expect that it will have a positive impact on the gold system and mine plan. The Mother Lode system continues to grow and expand as further work progresses. The continued connection of this large gold system with a shallow porphyry emplacement bodes well for a larger deposit in the future. When we look at this large gold system in the context of the other new large discoveries along trend at Lynnda Strip, C-Horst and Silicon, the Eastern Bullfrog District is shaping up to be another Carlin Trend type gold environment with multiple deposit types hosted in a broad range of rock types likely related to one large gold system. At Corvus, we are excited to see the results of our perseverance, focus and dedication over the past decade in defining and advancing this emerging new large Nevada Gold District.”