Corvus Gold completes US $4.65M financing with Coeur Mining

pcNewsWireCorvus Gold Inc. (TSX: KOR; OTCQX: CORVF) has completed private placement with Coeur Mining of 6.2 million common shares at 0.75 per share for $4.65 million

Proceeds will be used to advance Corvus Gold’s new Mother Lode project over the next 6 months.

News Release

Corvus Gold Adds Coeur Mining as Strategic Investor with Option for Increasing Ownership

Vancouver, B.C… Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces it has completed a CAD $4.65M private placement with Coeur Mining at CAD $0.75 per share for a total of 6.2M common shares representing 6.23% of issued and outstanding shares. Proceeds will be used to advance Corvus Gold’s new Mother Lode project over the next 6 months.

Coeur also has the option to complete a second Private Placement financing with Corvus Gold for an additional CAD $4.65M at any time until January 15, 2018 at a 5% discount to the 10-day volume weighted average price (vwap) of Corvus’ share price on the Toronto Stock Exchange.

This second financing would provide Corvus Gold with funding for its second phase of project development work at its Mother Lode project and the analysis of the integration of the Mother Lode and North Bullfrog projects into a unified mining plan.

Key terms of the financing:
 Initial Private Placement of 6.2M shares at a price of CAD $0.75 for proceeds of CAD $4.65M
 Option for second Private Placement of CAD $4.65M to be priced at closing based on a 5% discount to the 10 day vwap between the dates of July 7, 2017 and January 15, 2018.
 The company will notify Coeur of any strategic financing transactions it plans to conduct and provide Coeur with the option to participate in the financing at their current 6.23% ownership level until January 15, 2018.
 Should certain strategic shareholders of Corvus Gold notify management of an intention to divest part of all of their holdings, Coeur will be provided with first notice of the available shares.

Jeff Pontius, President and CEO of Corvus said, “We are pleased to welcome Coeur Mining as a major shareholder of Corvus Gold. The Coeur group operates a number of high quality mining operations in North America including its Rochester Mine in Nevada. The funding provided by Coeur will assist in the rapid and effective capture of the potential of our new Mother Lode project and the advancement of a higher grade combined YellowJacket-Mother Lode initial mining phase. The needed components to achieve this new multiphase plan for the greater North Bullfrog – Mother Lode project are now in place and we look forward to a very active news flow cycle over the next 12 months as we advance this newly re-emerging, Nevada Gold District.”

The common shares issued in the private placement are subject to a 6 month hold period. The Toronto Stock Exchange has granted conditional approval to the issuance of the Corvus Gold common shares under the private placement.

The foregoing securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States 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.

About the North Bullfrog & Mother Lode Projects, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately 72 km² in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 865 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor as well as a large water right. The company also controls 65 federal unpatented mining claims on the Mother Lode project which totals 522 hectares which it owns 100% of.

About Corvus Gold Inc.

Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining project at the North Bullfrog and Mother Lode Districts in Nevada. In addition, the Company controls a number of royalties on other North American exploration properties representing a spectrum of gold, silver and copper projects. Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.

On behalf of Corvus Gold Inc.
(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
President & Chief Executive Officer

Contact Information: Ryan Ko
Investor Relations
Phone: 1-844-638-3246 (toll free) or (604) 638-3246