Corvus Gold Increases Non-Brokered Private Placement

Vancouver, British Columbia…Corvus Gold Inc. (“Corvus” or the “Company”) (TSX: KOR, OTCQX: CORVF) announces that it has increased the amount of the non-brokered private placement announced April 17, 2012.  The non-brokered private placement will now consist of up to 8,250,000 common shares at a price of CAD 0.67 per share for gross proceeds of up to CAD 5,527,500 (the “Offering”).

All Shares issued in the Offering will have a hold period in Canada of four months from the closing of the Offering.  It is anticipated that certain insiders of the Company will participate in the Offering.  The Company has determined that there are exemptions available from the various requirements of Multilateral Instrument 61-101 for the issuance of any securities issued to insiders.  No new insiders will be created, nor will there be any change of control, as a result of the Offering.  No finder’s fees will be paid in connection with the Offering.

The net proceeds from the Offering are intended to be used to fund ongoing work programs on the North Bullfrog Project in Nevada and for general working capital.  The North Bullfrog project is currently being evaluated as a two stage development opportunity with a low initial capex.  The recent Preliminary Economic Assessment of the North Bullfrog project (NR12-07, February 28, 2012) indicates potential for an attractive new Nevada gold mining operation that would be highly leveraged to gold prices with excellent infrastructure and in one of the best mining jurisdictions in the world.

To read the entire news release follow the link below:

May 2, 2012 (Source: Corvus Gold Inc.)

http://www.corvusgold.com/news/index.php?&content_id=90 

Disclosure:  Corvus Gold is a Vulture Bargain Candidate of Interest (VBCI).  Members of the GGR team are actively accumulating and may hold long positions in KOR.T or CORVF .