Corvus Gold Continues to Hit High-Grade Gold-Silver Vein System in Yellow Jacket Step-out Drilling, North Bullfrog, Nevada

  Corvus Gold Continues to Hit High-Grade Gold-Silver Vein System in Yellow
               Jacket Step-out Drilling, North Bullfrog, Nevada

PR Newswire

VANCOUVER, Nov. 28, 2012

Highlights include: NB-12-183: 49 metres of 1.9 g/t gold with 43 g/t Silver
                    including 1.7 metres of 13.1 g/t gold with 549 g/t Silver

TSX: KOR OTCQX: CORVF

VANCOUVER, Nov. 28,  2012 /PRNewswire/  - Corvus  Gold Inc.  ("Corvus" or  the 
"Company") - (TSX:  KOR, OTCQX: CORVF)  announces the latest  assays from  the 
first hole of  the 2012  Phase II  Yellow Jacket  drill program  at the  North 
Bullfrog Project,  Nevada.  The four  hole  program was  designed  to  further 
identify and delineate the bonanza  grade feeder system identified earlier  in 
2012 in hole NB-12-138 which returned 72.4 metres @ 1.74 g/t gold and 98.7 g/t
silver including 4.3 metres @ 20 g/t gold and 1,519 g/t silver.

The most recent results, Hole NB-12-183, intersected 49 metres @ 1.9 g/t  gold 
and 43 g/t silver including 1.7m @ 13.1 g/t gold and 549 g/t silver (Table 1).

The Yellow Jacket high-grade, fault controlled, gold and silver mineralization
has been encountered  over a  strike length  of approximately  700 metres  and 
remains open. 3D IP imaging has highlighted a number of other structural zones
with high-grade  potential. Aggressive  follow-up  drilling at  several  other 
targets is expected to commence early 2013.

During the most recent program, which  commenced in early October, 780  metres 
of core were drilled in  four holes. Three of  the four holes hit  significant 
vein mineralization, which remains  open to the north  and at depth. All  vein 
intersections to  date are  within  150 metres  of  the surface  (which  could 
represent open pit mining depths) with quartz veins widening at depth  (Figure 
2) and have not been included in the current North Area resource. The  silver 
to gold ratio of holes NB-12-138 & NB-12-183 is distinctly higher than that of
the overall North Bullfrog resource estimate  and could represent a major  new 
silver discovery  in the  district  which could  benefit the  overall  project 
financing. Assays for  the remainder of  hole NB-12-183 and  the other  three 
holes are pending at this time.

Table 1
Significant New Intercepts* from Phase II 2012 Yellow Jacket Drilling

          From         Interval Gold  Silver
 Hole ID   (m)  To (m)   (m)    (g/t) (g/t)
NB-12-183 80.3  128.9    48.7    1.9    43
including 91.9  102.3    10.4    4.7   119
including 99.1  100.8    1.7    13.1   549
including 119.5 125.9    6.3     3.6    85
including 121.0 124.0    3.1     5.7    72
NB-12-183 137.4 138.8    1.4     1.2    3

*Intercepts are approximate true width and are
calculated with 0.2 g/t gold cut-off and up to 0.7
metres of internal waste.

Jeff Pontius, Corvus CEO stated: "As we continue with the planned development
of the South area  Mayflower deposit targeting gold  production in late  2014, 
these new high-grade  gold and silver  intercepts in the  North area open  the 
door for  a  very  exciting  new  Nevada  high-grade  discovery.  The  recent 
intercepts confirming and  extending the spectacular  mineralization found  in 
hole NB-12-138  along with  the  substantial quartz  vein thicknesses  in  the 
following three holes  are giving shape  to a significant  new discovery  that 
could dramatically  change both  the North  Bullfrog project  and the  overall 
Corvus story."

Yellow Jacket Vein System

The Yellow Jacket  vein system represents  a completely blind  discovery of  a 
previously unrecognized style of mineralization in the North Bullfrog District
(Figure 1). Prior drilling in this area was focussed to the east in an area of
historic prospect pits along  the Liberator and Yellow  Jacket Faults with  RC 
hole NB-10-63 intersecting 10.7 metres @ 7.5  g/t gold and 6.5 g/t silver  and 
core hole  NB-12-126 intersecting  11.4 metres  @  4.9 g/t  gold and  7.0  g/t 
silver. Core hole NB-12-127 (7.7 metres @  2.4 g/t gold and 11.31 g/t  silver) 
was designed to follow up on  an interesting intersection in RC hole  NB-11-91 
(9.1 metres @  2.07 g/t gold  and 2.32 g/t  silver) which was  the first  time 
quartz vein related mineralization was encountered.

These results were used to target the  hotter boiling zone part of the  quartz 
vein system which led to the  Yellow Jacket discovery in hole NB-12-138  (72.4 
metres @ 1.74 g/t gold and 98.7 g/t silver including 4.3 metres @ 20 g/t  gold 
and 1,519 g/t silver).  Structural analysis based  on oriented core  indicates 
that the mineralization in NB-12-138 is controlled by the intersection of  the 
Blind and Mai Faults (Figure 1).  Holes NB-12-183 and NB-12-184 were  designed 
to drill  perpendicular to  the plunge  of that  intersection (Figure  2)  and 
successfully hit the target which appears to have an expanding vein system  at 
depth.

In general the Yellow  Jacket Zone of high-grade,  fault controlled, gold  and 
silver  mineralization  has   been  encountered  over   a  strike  length   of 
approximately 700 metres  and remains open.  The mineralization is  relatively 
shallow and could possibly be exploited  as part of an expanded Sierra  Blanca 
open pit, although to  date this mineralization has  not been included in  the 
North Bullfrog resource estimate. The structural concepts developed and proven
at Yellow Jacket are now being applied to generate targets on the rest of  the 
North Bullfrog  property. As  part  of this  exploration program,  Corvus  is 
conducting an integrated high-grade targeting study that incorporates the  new 
3D IP geophysical data with new  geological and structural mapping to  further 
define and delineate  these new  targets. To  date, the  Company has  defined 
three additional high-grade  targets in  the North  Area that  will be  tested 
during the  2013 exploration  program  as well  as  the deep  high-grade  vein 
potential below the Mayflower deposit.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately
43 km²  in southern  Nevada just  north  of the  historic Bullfrog  gold  mine 
formerly operated  by Barrick  Gold. The  property package  is made  up of  a 
number of leased  patented federal  mining claims and  461 federal  unpatented 
mining claims owned by the Company. The project has excellent infrastructure,
being  adjacent  to  a  major  highway  and  power  corridor.  The  Company's 
independent consultants  completed  a  robust  positive  Preliminary  Economic 
Assessment  on  the   existing  resource  in   February  2012  (available   at 
www.sedar.com).

The project currently  includes numerous prospective  gold targets, with  four 
(Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an  estimated 
Indicated Resource of 15 Mt at an  average grade of 0.37 g/t gold for  182,577 
contained ounces of gold and an Inferred  Resource of 156 Mt at 0.28 g/t  gold 
for 1,410,096 contained ounces of gold (both  at a 0.2 g/t gold cutoff),  with 
appreciable silver credits. Mineralization occurs  in two primary forms:  (1) 
broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and  Jolly 
Jane systems; and  (2) moderately thick  zones of high-grade  gold and  silver 
mineralization  hosted   in  structural   feeder  zones   with  breccias   and 
quartz-sulphide  vein  stockworks  such  as  the  Mayflower  and  Yellowjacket 
targets. The Company is actively pursuing both types of mineralization.

A video of the North Bullfrog project showing location, infrastructure, access
and  2010  winter  drilling   is  available  on   the  Company's  website   at 
http://www.corvusgold.com/investors/video/.

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 (other than the  resource estimate) that form the  basis 
for this news release and has approved the disclosure herein. Mr. Pontius  is 
not independent  of Corvus,  as he  is the  CEO and  holds common  shares  and 
incentive stock options.

Mr. Gary  Giroux,  M.Sc., P.  Eng  (B.C.), a  consulting  geological  engineer 
employed by Giroux  Consultants Ltd., has  acted as the  Qualified Person,  as 
defined in  NI  43-101,  for  the Giroux  Consultants  Ltd.  mineral  resource 
estimate. He  has  over 30  years  of experience  in  all stages  of  mineral 
exploration, development and production.  Mr. Giroux specializes in  computer 
applications in ore reserve estimation, and has consulted both nationally  and 
internationally in this field. He  has authored many papers on  geostatistics 
and ore reserve estimation  and has practiced as  a Geological Engineer  since 
1970 and provided geostatistical  services to the  industry since 1976.  Both 
Mr. Giroux and Giroux Consultants Ltd. are independent of the Company under NI
43-101.

The work program  at North  Bullfrog was  designed and  supervised by  Russell 
Myers (CPG  11433), President  of Corvus,  and Mark  Reischman, Corvus  Nevada 
Exploration Manager,  who  are  responsible  for  all  aspects  of  the  work, 
including the quality control/quality assurance program. On-site personnel  at 
the project log and track all  samples prior to sealing and shipping.  Quality 
control is monitored by  the insertion of  blind certified standard  reference 
materials and blanks into each sample shipment. All resource sample  shipments 
are sealed and shipped to ALS Chemex in Reno, Nevada, for preparation and then
on to  ALS Chemex  in Reno,  Nevada,  or Vancouver,  B.C., for  assaying.  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.  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 Nevada,  Alaska 
and Quebec, which  controls a  number of exploration  projects representing  a 
spectrum of  early-stage to  advanced  gold projects.  Corvus is  focused  on 
advancing its 100% owned  Nevada, North Bullfrog  project towards a  potential 
development decision and continuing to explore for new major gold discoveries.
Corvus is committed to building shareholder value through new discoveries  and 
leveraging noncore assets via partner funded exploration work into carried and
or  royalty  interests  that  provide  shareholders  with  exposure  to   gold 
production.

On behalf of
Corvus Gold Inc.

(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
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  any 
mining or production at North  Bullfrog, the potential for the  identification 
of multiple  deposits  at North  Bullfrog,  the potential  for  the  increased 
silver/gold ratio in certain core to  represent a new silver discovery  and/or 
to change the potential of, and financing for, the North Bullfrog project, the
potential for the newly discovered mineralization to be exploited through open
pit methods,  the  potential  for  the existence  or  location  of  additional 
high-grade veins, including  under the  Mayflower deposit,  the potential  for 
additional resources to be located  between certain of the existing  deposits, 
the potential  for the  Company to  secure  or receive  any royalties  in  the 
future, 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,  target  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.com and readers are urged  to review these materials, including  the 
technical reports filed with respect to the Company's mineral properties.

Cautionary Note Regarding References to Resources and Reserves

National Instrument 43 101 - Standards of Disclosure for Mineral Projects ("NI
43-101") is a rule developed  by the Canadian Securities Administrators  which 
establishes standards for all public disclosure an issuer makes of  scientific 
and technical  information  concerning  mineral  projects.  Unless  otherwise 
indicated, all resource estimates contained in or incorporated by reference in
this press release  have been prepared  in accordance with  NI 43-101 and  the 
guidelines set  out  in  the  Canadian Institute  of  Mining,  Metallurgy  and 
Petroleum (the  "CIM") Standards  on Mineral  Resource and  Mineral  Reserves, 
adopted by the CIM Council on November 14, 2004 (the "CIM Standards") as  they 
may be amended from time to time by the CIM.

United States shareholders are cautioned that the requirements and terminology
of NI 43-101 and the CIM Standards differ significantly from the  requirements 
and terminology of  the SEC  set forth  in the  SEC's Industry  Guide 7  ("SEC 
Industry  Guide  7").  Accordingly,   the  Company's  disclosures   regarding 
mineralization may  not  be comparable  to  similar information  disclosed  by 
companies subject to SEC  Industry Guide 7.  Without limiting the  foregoing, 
while the terms "mineral resources", "inferred mineral resources",  "indicated 
mineral  resources"  and  "measured  mineral  resources"  are  recognized  and 
required by NI 43-101 and  the CIM Standards, they  are not recognized by  the 
SEC and  are not  permitted to  be used  in documents  filed with  the SEC  by 
companies subject to SEC  Industry Guide 7. Mineral  resources which are  not 
mineral reserves do not have demonstrated economic viability, and US investors
are cautioned not to assume  that all or any part  of a mineral resource  will 
ever be converted  into reserves.  Further, inferred resources  have a  great 
amount of uncertainty  as to their  existence and  as to whether  they can  be 
mined legally or economically. It cannot be  assumed that all or any part  of 
the inferred resources will ever be  upgraded to a higher resource  category. 
Under Canadian rules, estimates of inferred mineral resources may not form the
basis of a feasibility study or  prefeasibility study, except in rare  cases. 
The SEC normally only permits issuers  to report mineralization that does  not 
constitute SEC Industry Guide 7  compliant "reserves" as in-place tonnage  and 
grade without reference to unit amounts.  The term "contained ounces" is  not 
permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101
and CIM Standards definition of a "reserve" differs from the definition in SEC
Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as  a 
part of a mineral deposit which could be economically and legally extracted or
produced at the time the mineral reserve determination is made, and a  "final" 
or "bankable" feasibility study is required to report reserves, the three-year
historical price is used  in any reserve or  cash flow analysis of  designated 
reserves and the primary environmental analysis  or report must be filed  with 
the appropriate governmental authority.

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.

SOURCE Corvus Gold Inc.

Image with caption: "Figure 1: Plan of the Yellow Jacket zone showing the
major structures and the drill holes related to the discovery of the
high-grade vein system. (CNW Group/Corvus Gold Inc.)". Image available at:
http://photos.newswire.ca/images/download/20121128_C4111_PHOTO_EN_21303.jpg

Image with caption: "Figure 2: Drill section in the plane of NB-12-183 and
NB-12-184 showing how the geology and assays compare between NB-12-138 and the
new holes. (CNW Group/Corvus Gold Inc.)". Image available at:
http://photos.newswire.ca/images/download/20121128_C4111_PHOTO_EN_21304.jpg

Contact:

Contact Information:

Ryan Ko
Investor Relations
Email:info@corvusgold.com
Phone: 1-888-770-7488 (toll free) or (604) 638-3246 / Fax: (604) 408-7499
 
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