Rowland Perkins - 18 Jan 2022 Form 4 Insider Report for Corvus Gold ULC

Footnote F1

Disposed of pursuant to the Arrangement Agreement and Plan of Arrangement by and between the issuer (formerly known as Corvus Gold Inc.), 1323606 B.C. Unlimited Liability Company (the "Purchaser") and AngloGold Ashanti Holdings plc (the "Guarantor") dated September 13, 2021 (the "Arrangement"), which was consummated on January 18, 2022, and pursuant to which the Purchaser acquired all of the outstanding common shares of the issuer (other than those owned by the Purchaser and its affiliates) in exchange for cash consideration of C$4.10 per share.

Footnote F2

As previously reported, exercise price reported above was converted from the Canadian exercise price of C$3.05 using an exchange rate of C$1.2654 = US$1.00.

Footnote F3

Options were granted on January 15, 2021, and vest as follows: One-third on January 15, 2022; one-third on January 15, 2023; and one-third on January 15, 2024.

Footnote F4

In connection with the Arrangement, all outstanding options to purchase common shares of the issuer as of immediately prior to the effective time of the Arrangement, were deemed unconditionally vested and exercisable, and subsequently cancelled in exchange for cash payment equal to the difference between the per share consideration of C$4.10 and the per share exercise price of such option multiplied by the number of common shares issuable pursuant to such option, less applicable withholdings.

Footnote F5

As previously reported, the exercise price reported above was converted from the Canadian exercise price of C$2.09 using an exchange rate of C$1.3275=US$1.00.

Footnote F6

Options were granted on February 3, 2020 and vest as follows: one-third on February 3, 2021, one-third on February 3, 2022 and one-third on February 3, 2023.

Footnote F7

As previously reported, the exercise price reported above was converted from the Canadian exercise price of C$2.18 using an exchange rate of C$1.3324=US$1.00.

Footnote F8

Options were granted on June 13, 2019 and vest as follows: one-third on June 13, 2020, one-third on June 13, 2021 and one-third on June 13, 2022.

Footnote F9

As previously reported, the exercise price reported above was converted from the Canadian exercise price of C$2.06 using an exchange rate of C$1.3182=US$1.00.

Footnote F10

Options were granted on November 19, 2018 and vest as follows: one-third on November 19, 2019, one-third on November 19, 2020 and one-third on November 19, 2021.

Footnote F11

As previously reported, the exercise price was converted from C$0.77 based on the July 31, 2017 noon rate as quoted by the Bank of Canada to US$0.617. The exercise price is the actual Canadian dollar amount regardless of the exchange rate on the date of exercise.

Footnote F12

Options were granted on July 31, 2017 and vest as follows: one-third on July 31, 2018, one-third on July 31, 2019 and one-third on July 31, 2020.

Footnote F13

As previously reported, expressed in Canadian dollars.

Footnote F14

Options were granted on September 15, 2016 and vest as follows: one-third on the grant date, one-third on September 15, 2017 and one-third on September 15, 2018.

Footnote F15

Expiration date extended indefinitely due to current trading blackout in relation to the Arrangement.