Additional Drill Holes At The Lynnda Strip Oxide Gold Discovery

VANCOUVER - Corvus Gold Inc. has received results from four additional drill holes in the new Lynnda Strip oxide gold discovery. These results are continuing to expand this large, new, oxide, bulk tonnage, Nevada gold discovery with ML20-186 returning 108.2m @ 1.13 g/t Au, hole ML20-188 with 114.30m @ 0.96 g/t Au and hole ML20-189 with 178.3m @ 0.66 g/t Au in the upper zone followed by 100.6m @ 0.94 g/t Au in the lower zone. In addition, these results continue to expand the large vein systems found in this deposit as shown in holes ML20-186 (36.6m @ 2.75 g/t Au), ML20-188 (64m @1.19 g/t Au) and ML20-189 (10.7m @ 2.85 g/t Au). The Lynnda Strip deposit is demonstrating good continuity across its width and the large vein/stockwork zones within it. The thickness, grade and strong oxidation of this new discovery make it an ideal target for open-pit mining and heap leach processing.

Hole ML20-190 was lost in the upper part of the Upper Lynnda Strip Zone at 219 meters down hole due to poor drilling conditions. This depth is close to our projected major structural zone in between our Lynnda Strip and South Merlin zones and will be addressed with several reverse circular (RC) and core-tail holes to connect the two areas with potential for a major vein system on the bounding structure.

Corvus will continue to expand the Lynnda Strip discovery with an initial mineral resource estimate planned for early fall of this year to assess its potential value for a future mining operation. In addition, Corvus has a number of other targets in the region that it will look to address in the future to determine how extensive this new gold system is regionally. Given the positive results from several new covered targets and the abundant drilling activity in the eastern part of the Bullfrog District, Corvus expects to see other discoveries and expansion results over the coming year.

Jeffrey Pontius, President and CEO, said, “The recent Lynnda Strip discovery is an example of the potential that exists in the re-emerging Bullfrog Gold District. These new covered target discoveries have opened the door to not only the potential of the Mother Lode to Silicon belt but the District as a whole. As Corvus continues its drive to add value for its shareholders across our large District-wide land package, the Company is also focused on delivering the first producing mine in the District at its North Bullfrog Project. As a first mover for District gold production, the Company will be in a unique position as a key player in further district consolidation. Corvus, as a District leader in exploration, discovery and gold production will leverage its strategic land position for the benefit of its shareholders, our communities and the region as a whole.”