By Chris Wack

Corvus Gold Inc. said it has received an unsolicited non-binding buyout proposal from AngloGold Ashanti Ltd.

The company said the principal terms of the proposal include AngloGold buying all issued and outstanding Corvus shares for consideration of C$4 a share, payable in cash.

Corvus Gold said its management and board of directors are reviewing the proposal and have no further comment at this time.

Corvus controls 100% of its North Bullfrog Project, which covers 90.5 square kilometers in southern Nevada. The company also controls 445 federal unpatented mining claims on the Mother Lode project, which totals 36.5 square kilometers.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-13-21 1249ET