Corvus Gold Final Leach Gold Recovery Results Average 88% for Mayflower Deposit, North Bullfrog Project, Nevada

   Corvus Gold Final Leach Gold Recovery Results Average 88% for Mayflower
                   Deposit, North Bullfrog Project, Nevada

PR Newswire

VANCOUVER, Jan. 17, 2013

Potential for Run Of Mine Operation

TSX: KOR OTCQX: CORVF

VANCOUVER, Jan. 17,  2013 /PRNewswire/  - Corvus  Gold Inc.  ("Corvus" or  the 
"Company") -  (TSX: KOR),  (OTCQX: CORVF)  announces the  final results  of  a 
series of column leach tests on large diameter core sample composites from the
Mayflower deposit at the  North Bullfrog Project,  Nevada. The final  results 
averaged 88% gold recovery at a crush size of nominally 80% passing 19mm (-3/4
inch), which represents a 10% greater gold recovery than the 78% gold recovery
assumed in the December 6,  2012 Preliminary Economic Assessment (PEA).  These 
encouraging results suggest that the potential exists to operate the Mayflower
project on a Run Of Mine (ROM) basis, although at lower recoveries than  would 
be achieved by crushing.

The impact  of ROM  processing  could significantly  reduce both  capital  and 
operating costs per tonne for the  Mayflower deposit where gold production  is 
anticipated for  late 2014.  The  Company is  currently conducting  large  ROM 
testing on  large diameter  material and  working with  mining consultants  on 
optimizing blasting configurations  to maximize fragmentation  to assess  this 
option.

The final recovery data  (Table 1) support the  high gold leachability of  the 
Mayflower oxide material even  at grades as  low as 0.16  g/t. The impact  of 
this increased recovery data  will be integrated  into the Company's  upcoming 
Mayflower Feasibility Study scheduled for the first quarter of 2013.

Carl Brechtel,  COO of  Corvus,  stated: "The  current gold  recovery  results 
continue to be very encouraging and fully support the Mayflower deposit as  an 
attractive mining  project  with  potential  to  continue  to  improve.  These 
results, linked with the discovery of the Yellow Jacket high-grade zone in the
North Area which has  yet to be incorporated  into the resource base,  provide 
high potential for continued enhancement of the overall North Bullfrog project
in 2013."

                                   Table 1
Mayflower PQ Core Composite Samples, Phase I Drilling, North Bullfrog Project
Final Gold Recovery in Column Leach Tests at 90-156 days of Leach Time Nominal
                     Particle Size 80% -19 mm (-3/4 inch)

                MF PQ 1 MF PQ 2 MF PQ 3 MF PQ 4 MF PQ 5
% Gold Recovery*  88.5%   89.7%   77.2%   89.0%   85.7%

*-based on Au calculated head grade

In addition, a series of  ROM vat leach tests are  ongoing on particles at  75 
mm, 150 mm  and 200 mm  to provide data  to evaluate gold  recovery at  larger 
particle size. These results will be  integrated with further column tests  at 
larger crush size and blasting studies to fully assess operating the Mayflower
project as a ROM  operation which could provide  a major cost and  operational 
benefit.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately
68 square kilometres in  southern Nevada just north  of the historic  Bullfrog 
gold mine formerly  operated by Barrick  Gold Corp. The  property package  is 
made up  of a  number of  private mineral  leases of  patented federal  mining 
claims and 758 federal  unpatented mining claims.  The project has  excellent 
infrastructure, being adjacent to a major highway and power corridor.

The project currently  includes numerous  prospective gold  targets with  four 
(Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an  estimated 
Oxidized Indicated Resource of 27 Mt at an average grade of 0.28 g/t gold  for 
246,810 ounces of gold and an Oxidized  Inferred Resource of 234.5 Mt at  0.18 
g/t gold for 1,387,870 ounces  of gold (both at a  0.1 g/t gold cutoff),  with 
appreciable silver credits. Unoxidized  Inferred mineral resources are  221.6 
Mt at 0.19 g/t for 1,361,000 ounces of gold (at a 0.1 g/t gold cutoff).

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  by 
structural 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.

Carl E. Brechtel,  PE, a qualified  person as defined  by National  Instrument 
43-101, is  responsible  for  planning  and execution  of  the  technical  and 
engineering studies at North Bullfrog. He is responsible for the  preparation 
of this news release and  has approved the disclosure  herein. He has over  30 
years of  experience in  the  mining industry,  is a  registered  professional 
engineer in the States of Colorado and  Nevada, and is a Registered Member  of 
SME. Mr. Brechtel is  not independent of  Corvus, as he is  the COO and  holds 
common shares and incentive stock options.

Mr. William J. Penstrom, Jr., a  consulting process engineer and President  of 
Pennstrom Consulting, Inc., has acted at the Qualified Person, as defined  by 
NI 43-101, for evaluation of the metallurgical testing data presented  herein. 
He has over 30  years of experience in  mineral process design and  operation, 
and has  been an  independent  process and  metallurgical consultant  for  the 
mining industry  for the  last 10  years. He  is a  Registered Member  of  the 
Society of  Mining, Metallurgy  and Exploration  (SME Member  # 2503900).  Mr. 
Pennstrom and Pennstrom Consulting  Inc. are both  independent of the  Company 
under NI 43-101.

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 is supervised by  Russell 
Myers (CPG  11433), President  of Corvus,  a Qualified  Person defined  by  NI 
43-101, and  by 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. McClelland Laboratories  Inc. 
prepared  composites  from  duplicated  RC  sample  splits  collected   during 
drilling. Bulk  samples  were sealed  on  site and  delivered  to  McClelland 
Laboratories Inc. by ALS Chemex or Corvus personnel. All metallurgical testing
reported here was conducted or managed by McClelland Laboratories Inc.

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 and the  timing 
thereof, the discovery and delineation of mineral deposits/resources/reserves,
the potential  for  a  run-of-mine  heap leach  operation  at  Mayflower,  the 
potential for a run of mine operation  at Mayflower to have lower capital  and 
operating costs, the  proposed completion  of a feasibility  study for  either 
Phase 1 (Mayflower) or Phase 2 (North Project), or both, at the North Bullfrog
project and the timing thereof, the potential for a production decision to  be 
made for  either  Phase  1 or  Phase  2,  the potential  commencement  of  any 
development of a mine at North  Bullfrog following a production decision,  the 
potential for any mining or production  at North Bullfrog, whether by 2014  or 
at all, the potential for  the Company to secure  or receive any royalties  in 
the future or to  provide its shareholders with  exposure to gold  production, 
the potential  to secure  partners to  fund  additional work  on some  of  the 
Company's properties, business  and financing plans  and business trends,  are 
forward-looking statements. Information concerning mineral resource estimates
and the  preliminary  economic analysis  thereof  also  may be  deemed  to  be 
forward-looking  statements  in   that  it  reflects   a  prediction  of   the 
mineralization that would be encountered, and  the results of mining it, if  a 
mineral deposit were developed and  mined. 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, significant increases in the cost of labour, materials,  equipment 
and supplies required to develop and  operate any mine at North Bullfrog,  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  Annual Information Form  and 
interim Management  Discussion  and  Analysis 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.

Contact:

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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