Mother Load Expansion Drill Program Returns Positive Results

VANCOUVER, BC - Corvus Gold Inc. has received assay results from two holes from the Phase-4 Mother Lode resource expansion drill program.  Both holes returned positive results from the central part of the deposit where the Main Zone mineralization has infilled parts of the deposit not yet estimated. ML19-121; 36.6m @ 1.79 g/t Au ML19-122; 36.6m @ 2.43 g/t Au & 27.4m @ 2.42 g/t Au; In addition, results continue to be returned from the newly discovered Central Intrusive Zone (“CIZ”, previously called the deep intrusive zone with the first hole reported NR19-19; ML19-119; 50.3m @ 1.50 g/t Au, including 33.5m @ 1.94 g/t Au).  This new and expanding, higher-grade, oxide zone is below the main Mother Lode deposit and remains unconstrained; & ML19-121; 41.2m @ 1.60 g/t Au, including 15.2m @ 3.6 g/t Au & 6.1m @ 5.3 g/t Au.

All intercepts to date from the Mother Lode Phase-4 drilling are within open pit depths and have ended in mineralization.  A diamond core drill rig has begun drilling at the North Deep target and will then move to follow-up test the expanding intrusive CIZ target. The initial Phase-4 holes in the CIZ target continue to outline a significant area that Corvus believes has potential for high-grade oxide mineralization (+1 g/t gold) immediately below the known Mother Lode deposit.  These recent intercepts combined with the previous results continue to show an intimate association with a widening intrusive dike system, which projects down into the geophysical target announced late last year (NR19-18). Previous drilling in the CIZ target has only penetrated the upper portion of the dike system returning broad intercepts of higher grade oxide gold mineralization (ML17-020 with 54m @ 0.77 g/t Au including 10.7m @ 2.8 g/t Au; NR18-01 & ML19-119 with 50.3m @ 1.50 g/t including 33.5m @ 1.94 g/t Au; NR19-19). This new high-grade oxide zone is being targeted with follow-up drilling laterally and at depth to follow it down dip into the geophysical anomaly.  Corvus believes the CIZ could represent a major new oxide expansion of the Mother Lode system with grades that could have the potential to support both open pit and eventually underground development as the deposit extends at depth.

Jeffrey Pontius, President and CEO, said, “The latest intercepts from the new CIZ are encouraging and we believe they could represent the tip of the iceberg for a new high-value part of this growing deposit. As with other sediment hosted gold systems, there is a close relationship between intrusive activity as well as potential to grow at depth.  The Phase-4 Mother Lode exploration program is designed to unlock what Corvus anticipates may be the deep potential for both high-grade oxide and deeper sulfide mineralization in this promising new sediment hosted deposit.  Corvus has a commanding land position and we believe we are well-situated to expand the Bullfrog Mining District that is anchored with our large North Bullfrog and Mother Lode deposits that highlight the potential for new discoveries in the area.”

The company’s address is Suite 1750, 700 West Pender Street, Vancouver, BC V6C 1G8, (604) 638-3246, www.corvusgold.com.