Hole NB-14-402 returned a main Josh Vein intercept of 4.5 metres @ 14.6 g/t gold and 79 g/t silver. The bulk of hole NB-14-402 assays are still pending, but the current stockwork plus vein intercept returned 17 metres @ 4.9 g/t gold and 28 g/t silver (Table 1). This result is similar to the vein intercept in NB-13-370, which returned 4.9m @ 21.2g/t gold and 117 g/t silver (NR14-03, January 22, 2014), located 30 metres to the south in the same target area.

Results from Hole 14-402 confirm the lateral continuity of the vein thickness and grade within the main shoot. In addition, this new intercept is located about 150 metres north along strike and 100 metres deeper than hole NB-14-399 (reported on October 1, 2014 – 9.4m @ 2.5 g/t gold & 13.7 g/t silver including 1.6m @ 10.6 g/t gold and 59 g/t silver) and has significantly higher grades.

Two other holes drilled in this target area have also intercepted broad zones of veining with visible gold and silver mineralization. At least two other holes are planned for this target area as exploration focuses on this higher-grade internal shoot zone within the Josh Vein system. Two other similar high-grade shoot type targets have been outlined within the nearly 1 kilometre long Josh Vein system, and these will also be addressed this year.

*The veining and stockwork veining has been defined by geological observation of the percentage of veining in the interval, e.g. significant concentrations of veining in the immediate hangingwall and footwall of the main structure. Surrounding intersections of low grade material below the assumed economic cutoff of 0.3 g/t for milling are also reported for completeness.

Jeff Pontius, Corvus CEO stated: "Hole NB-14-402 is the latest confirmation of an expanded zone of high-grade mineralization from what is currently interpreted to be a north plunging high-grade shoot. This hole is from the northern margin of the new target area with other pending holes targeting the more central part of the system. The higher grade and additional 100 metres of depth in this hole compared with hole NB-14-399 reported last week indicates that the system in this area may extend to a significant depth. The ongoing success of the Yellowjacket drilling program is rapidly adding potential to the deposit."

Exploration Program

Corvus is currently utilizing two core drills, which are focussed on potentially expanding the current Yellowjacket estimated resource along strike, internally and at depth. The Phase II drilling will focus on identifying high-grade shoot features within the large untested areas of the Main Josh Vein system, as well as providing material for ongoing advanced metallurgical testing of the vein system. The Phase II program will continue through November and, following the return of all results, the Company plans on calculating a new resource estimate in the first quarter of 2015. This new resource estimate will form the basis of an initial Preliminary Economic Assessment (PEA) that will incorporate the Yellowjacket discovery. The PEA is scheduled to be completed in the second quarter of 2015. In addition, Corvus is engaged in detailed metallurgical studies of the new high-grade mineralization which have to date provided very encouraging initial results. The North Bullfrog project is also being advanced on a number of development fronts as well as project characterization work ahead of permitting.

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