Corvus Gold Closes Financing to Advance Its Mother Lode Project Through 2018

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2017) - Corvus Gold Inc. ("Corvus" or the "Company") - (TSX:KOR)(OTCQX:CORVF) announces it has completed a CAD $5,253,500 private placement (the "Private Placement"). Pursuant to the Private Placement, the Company issued 2,829,130 common shares at a price of CAD $1.15 each to institutional shareholders and 1,574,803 common shares at a price of CAD $1.27 each to a key strategic shareholder. No warrants were issued. The Company expects that the proceeds of the financing will fully fund the Company's planned 2018 exploration program at its new Mother Lode project.

Jeff Pontius, President and CEO of Corvus, said, "We are pleased to have secured this important financing which will provide funding to advance and develop our new high-grade Mother Lode project through 2018. The Company intends to expand its planned 2018 drill program to 20,000 metres, to focus on expanding the new high-grade zone at the north end of the currently defined deposit. The mix of long-term and strategic shareholders in this financing is a welcome endorsement of Corvus Gold and its Nevada projects. Our shareholders can look forward to continued news flow on our development progress of the high-grade Mother Lode project."

The common shares issued in the Private Placement are subject to a minimum 6-month hold period unless otherwise registered under applicable securities laws. The Toronto Stock Exchange has granted conditional approval to the issuance of the Corvus common shares under the Private Placement.

In addition, a financial advisory fee of CAD $62,675 was paid to Industrial Alliance Securities for assistance and advice on the financing.

The foregoing securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended or any applicable state securities laws and may not be offered or sold absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.