Corvus Gold Inc.
TSX : KOR

Corvus Gold Inc.

November 18, 2010 09:04 ET

Corvus Gold Inc. Announces First Drill Results from North Bullfrog Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2010) - Corvus Gold Inc. ("Corvus" or the "Company") (TSX:KOR) is pleased to announce the results from the first of several targets being tested by its Fall 2010 drilling program at the North Bullfrog Project near Beatty, Nevada. Drilling at the Jolly Jane Prospect has encountered shallow and broad zones of continuous mineralization, including 70 metres @ 0.4 g/tgold in NB-10-45 and 79 metres @ 0.3 g/t gold in NB-10-47.

Jolly Jane Drilling Results

The results received to date from the Jolly Jane area (Table 1 and Figure 1, to view Figure 1, please go to the following link: http://media3.marketwire.com/docs/kimg1118.pdf) have confirmed the Crater Flat tuff as a favourable host unit for broad, continuous mineralization over the area of at least 200 x 300 metres that was tested by this round of drilling. These results appear to indicate that the grade and continuity of the mineralization is increasing from the north (NB-10-42) to the south (NB-10-46 and 47). 

"This is our first look at this area and these results confirm the intensity and continuity of the mineralization," said Russell Myers, President of Corvus. "These are excellent results for a first pass in this strategic area of Nevada and they will help us zero in on potentially higher grade centers of mineralization."

The current North Bullfrog Fall 2010 program is scheduled to drill 10,000 metres (approximately 50 holes) over the next few months, and test a number of targets in the area including Sierra Blanca and Savage Valley.

Table 1: Summary intercepts from drilling at the Jolly Jane Prospect*
HoleID From (metres ) To (metres ) Interval (metres ) Gold (g/t )
NB-10-42 54.9   103.6   48.8   0.27  
NB-10-43 51.8   59.4   7.6   0.37  
NB-10-43 96.0   108.2   12.2   0.27  
NB-10-44 74.7   112.8   38.1   0.33  
NB-10-45 53.3   123.4   70.1   0.35  
NB-10-46 45.7   97.5   51.8   0.34  
NB-10-46 147.8   157.0   9.1   0.29  
NB-10-47 13.7   93.0   79.2   0.32  
 
 * Note: All intercepts are calculated using a 0.1 g/t gold cutoff and a maximum of 3 metres of internal waste. The foregoing intercepts are not true widths. At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space

About the North Bullfrog Project

The North Bullfrog Project is 100% controlled by Corvus and covers 24 square kilometres of Federal unpatented and patented lode mining claims (Figure 1). The property is located near Beatty, Nevada, 8 kilometres north of Barrick Gold Corporation's Bullfrog mine, which produced 2.4 million ounces of gold.

Gold was first discovered on the North Bullfrog property in 1904 and approximately 112,000 ounces of gold and 869,000 ounces of silver were produced from narrow high-grade veins. Historical exploration was focused on these high grade veins and, in addition, on the broad zones of lower grade mineralization hosted in adularia altered ash flow tuffs discovered during such initial historical exploration.

The current exploration program is focused on not only defining the large bulk tonnage potential of the project, but also testing favourable structural projections of high-grade vein systems which may be hidden under cover. The Company's development concept is to identify multiple deposits (bulk tonnage and high-grade) which can be fed into a central processing facility.

Qualified Person and Quality Control/Quality Assurance

Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, 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 the Company, as he is a director and the Chairman and CEO and holds common shares and incentive stock options.

The work program at North Bullfrog was designed and supervised by Russell Myers, President of Corvus, and Mark Reischman, the Nevada Exploration Manager for Corvus, who are together responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph the core from each individual borehole prior to preparing the split core and log and track all samples prior to sealing and shipping. All sample shipments are sealed and shipped to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assay. ALS Chemex'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. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.

About Corvus Gold Inc.

Corvus Gold Inc. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum from early stage to the advanced gold projects. Corvus is committed to building shareholder value through new discoveries and leveraging those discoveries via partner funded exploration into carried and/or royalty interests that provide its shareholders significant exposure to produced gold to maximize the value for their investment.

On behalf of Corvus Gold Inc.

Jeffrey A. Pontius, Chairman and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the potential for higher grade zones of mineralization to exist at North Bullfrog, the potential for the identification of multiple deposits at North Bullfrog and the operation of a central processing facility to treat North Bullfrog mineralization, business and financing plans and business trends, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.comand readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Caution Regarding Adjacent or Similar Mineral Properties

This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the mining guidelines of the US Securities and Exchange Commission (the "SEC") set forth in the SEC's Industry Guide 7 ("SEC Industry Guide 7") strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Contact Information

  • Corvus Gold Inc.
    Quentin Mai
    Manager - Corporate Communications
    (604) 683-3246 or Toll Free 1-888-770-7488
    qmai@corvusgold.com
    or
    Corvus Gold Inc.
    Shirley Zhou
    Manager - Corporate Communications
    (604) 638-3246 or Toll Free 1-888-770-7488
    (604) 408-7499 (FAX)
    szhou@corvusgold.com