Corvus Gold Inc. announces the latest assays from the final drill holes of the Phase II, 2012 Yellow Jacket drill program at the North Bullfrog Project, Nevada. The four hole program has now extended and further delineated the trend of the bonanza grade feeder system identified earlier in 2012. Best result to date was NB-12-138 which returned 72.4 metres at 1.74 g/t gold and 98.7 g/t silver including 4.3 metres at 20.0 g/t gold and 1,519 g/t silver.

The Yellow Jacket high-grade target area is located directly north of the currently delineated Sierra Blanca deposit. Results to date have not been incorporated in the current North Bullfrog estimated resource and updated preliminary economic assessment. Subsequent drilling is expected to add to the overall gold resource at North Bullfrog, and a global resource update, incorporating the Yellow Jacket target results, is planned for late 2013.

The most recent result, Hole NB-12-184, intersected 58 metres at 1.7 g/t gold and 33 g/t silver including 3.8 metres at 4.1 g/t gold and 151 g/t silver, 4.4 metres at 6.9 g/t gold and 50.4 g/t silver and 4.1 metres at 4.3 g/t gold and 25 g/t silve. 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 on strike and at depth. 3D IP imaging has now linked the Yellow Jacket discovery to a large master fault system which extends for over 2 kilometres in length and could have significant potential for additional high-grade mineralization.

In addition, recent detailed mapping, which utilized the new geophysical data, has now highlighted a number of other structural zones with similar signatures to the Yellow Jacket discovery and possible high-grade potential. Aggressive follow-up drilling of the Yellow Jacket system and several other targets is expected to commence early 2013.