Corvus Gold ULC (KOR) 10-K 26 Aug 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	May. 31, 2015	Aug. 24, 2015	Nov. 30, 2014
Document Information [Line Items]
Entity Registrant Name	Corvus Gold Inc.
Entity Central Index Key	1,507,964
Current Fiscal Year End Date	--05-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CORVF
Entity Common Stock, Shares Outstanding		80,168,928
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2015
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 45,548,439

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS	May. 31, 2015CAD	May. 31, 2014CAD
Current assets
Cash and cash equivalents	CAD 5,159,962	CAD 3,227,970
Marketable securities (note 5)	0	147,451
Accounts receivable	26,015	16,787
Prepaid expenses	248,679	217,316
Total current assets	5,434,656	3,609,524
Property and equipment (note 6)	96,703	97,447
Reclamation bonds (note 7)	0	522,332
Capitalized acquisition costs (note 8)	4,866,634	4,045,115
Total assets	10,397,993	8,274,418
Current liabilities
Accounts payable and accrued liabilities (note 11)	419,228	622,950
Promissory note payable (note 9)	298,488	0
Total current liabilities	717,716	622,950
Promissory note payable (note 9)	0	260,208
Asset retirement obligations (note 8)	132,579	0
Total liabilities	850,295	883,158
Shareholders' equity
Share capital (note 10)	64,256,889	53,703,440
Contributed surplus (note 10)	11,247,286	9,768,967
Accumulated other comprehensive income - cumulative translation differences	853,349	151,192
Deficit accumulated during the exploration stage	(66,809,826)	(56,232,339)
Total shareholders' equity	9,547,698	7,391,260
Total liabilities and shareholders' equity	CAD 10,397,993	CAD 8,274,418

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Operating expenses
Administration	CAD 13,225	CAD 11,133
Bad debts	0	22,118
Consulting fees (notes 10 and 11)	827,163	686,662
Depreciation (note 6)	28,191	25,657
Exploration expenditures (notes 8 and 10)	5,640,920	8,151,179
Insurance	92,207	52,914
Investor relations (notes 10 and 11)	930,260	1,224,378
Office and miscellaneous	148,063	146,797
Professional fees (notes 10 and 11)	505,239	486,774
Regulatory	154,996	118,637
Rent	96,564	95,175
Travel	195,016	138,153
Wages and benefits (notes 10 and 11)	1,904,767	1,957,900
Total operating expenses	(10,536,611)	(13,117,477)
Other income (expense)
Interest income	22,115	41,912
Gain on sale of capitalized acquisition costs (note 8(d))	0	1,840,480
Write-off of capitalized acquisition costs (note 8(b))	0	(395,485)
Unrealized loss on marketable securities	0	(26,388)
Loss on sale of marketable securities (note 5)	(125,166)	0
Foreign exchange gain (loss)	62,175	(8,016)
Total other income (expense)	(40,876)	1,452,503
Net loss for the year	(10,577,487)	(11,664,974)
Other comprehensive income
Exchange difference on translating foreign operations	702,157	224,273
Comprehensive loss for the year	CAD (9,875,330)	CAD (11,440,701)
Basic and diluted net loss per share (in dollars per share)	CAD (0.14)	CAD (0.17)
Weighted average number of shares outstanding (in shares)	75,517,310	67,865,028

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	May. 31, 2015CAD	May. 31, 2014CAD
Operating activities
Net loss for the year	CAD (10,577,487)	CAD (11,664,974)
Add items not affecting cash:
Bad debts	0	22,118
Depreciation	28,191	25,657
Write-off of capitalized acquisition costs	0	395,485
Gain on sale of capitalized acquisition costs (note 8(d))	0	(1,840,480)
Stock-based compensation (note 10)	1,485,695	1,846,269
Unrealized loss on marketable securities	0	26,388
Loss on sale of marketable securities	125,166	0
(Gain) loss on foreign exchange	(62,175)	8,016
Changes in non-cash items:
Accounts receivable	(9,228)	25,507
Prepaid expenses	(31,363)	363,004
Accounts payable and accrued liabilities	(203,722)	102,500
Cash used in operating activities	(9,244,923)	(10,690,510)
Financing activities
Cash received from issuance of shares	10,689,450	5,278,300
Share issuance costs	(207,977)	(40,312)
Cash provided by financing activities	10,481,473	5,237,988
Investing activities
Cash received from sale of marketable securities	35,723	0
Expenditures on property and equipment	(13,822)	(56,404)
Refund of (payment of) reclamation bond	626,324	(3,203)
Cash received from sale of capitalized acquisition costs	0	1,976,580
Capitalized acquisition costs	(32,508)	(1,135,989)
Cash provided by investing activities	615,717	780,984
Effect of foreign exchange on cash	79,725	32,238
Increase (decrease) in cash and cash equivalents	1,931,992	(4,639,300)
Cash and cash equivalents, beginning of the year	3,227,970	7,867,270
Cash and cash equivalents, end of the year	CAD 5,159,962	CAD 3,227,970

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - CAD	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Balance at May. 31, 2013	CAD 11,747,704	CAD 48,442,086	CAD 7,946,064	CAD (73,081)	CAD (44,567,365)
Balance (in shares) at May. 31, 2013		65,115,028
Net loss for the year	(11,664,974)	CAD 0	0	0	(11,664,974)
Other comprehensive income
Exchange difference on translating foreign operations	224,273	0	0	224,273	0
Shares issued for cash
Private placement	5,230,000	CAD 5,230,000	0	0	0
Private placement (in shares)		5,230,000
Exercise of stock options	48,300	CAD 48,300	0	0	0
Exercise of stock options (in shares)		70,000
Share issuance costs	(40,312)	CAD (40,312)	0	0	0
Reclassification of contributed surplus on exercise of stock options	0	23,366	(23,366)	0	0
Stock-based compensation	1,846,269	0	1,846,269	0	0
Balance at May. 31, 2014	7,391,260	CAD 53,703,440	9,768,967	151,192	(56,232,339)
Balance (in shares) at May. 31, 2014		70,415,028
Net loss for the year	(10,577,487)	CAD 0	0	0	(10,577,487)
Other comprehensive income
Exchange difference on translating foreign operations	702,157	0	0	702,157	0
Shares issued for cash
Public offering	6,180,000	CAD 6,180,000	0	0	0
Public offering (in shares)		5,150,000
Private placement	4,500,000	CAD 4,500,000	0	0	0
Private placement (in shares)		4,500,000
Exercise of stock options	9,450	CAD 9,450	0	0	0
Exercise of stock options (in shares)		18,900
Share issued for capitalized acquisition costs	64,600	CAD 64,600	0	0	0
Share issued for capitalized acquisition costs (in shares)		85,000
Share issuance costs	(207,977)	CAD (207,977)	0	0	0
Reclassification of contributed surplus on exercise of stock options	0	7,376	(7,376)	0	0
Stock-based compensation	1,485,695	0	1,485,695	0	0
Balance at May. 31, 2015	CAD 9,547,698	CAD 64,256,889	CAD 11,247,286	CAD 853,349	CAD (66,809,826)
Balance (in shares) at May. 31, 2015		80,168,928

PLAN OF ARRANGEMENT AND TRANSFE

PLAN OF ARRANGEMENT AND TRANSFER OF ASSETS	12 Months Ended
	May. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. PLAN OF ARRANGEMENT AND TRANSFER OF ASSETS On August 25, 2010, International Tower Hill Mines Ltd. (“ITH”) completed a Plan of Arrangement (the “Arrangement”) under the Business Corporations Act The Arrangement was approved by the board of directors of each of ITH and Corvus and by the shareholders of ITH and was accepted for filing by the Toronto Stock Exchange (“TSX”) on behalf of both ITH and Corvus. In connection with the completion of the Arrangement, the common shares of Corvus were listed on the TSX. Under the Arrangement, each shareholder of ITH received (as a return of capital) one Corvus common share for every two ITH common shares held as at the effective date of the Arrangement and exchanged each old common share of ITH for a new common share of ITH. As part of the Arrangement, ITH transferred its wholly-owned subsidiary Corvus Gold Nevada Inc. (formerly Talon Gold Nevada Inc.) (“Corvus Nevada”), incorporated in Nevada, United States (which held the North Bullfrog property), to Corvus and a wholly-owned Alaskan subsidiary of ITH sold to Raven Gold Alaska Inc. (“Raven Gold”), incorporated in Alaska, United States, a wholly owned subsidiary of Corvus, the Terra, Chisna, LMS and West Pogo properties. As a consequence of the completion of the Arrangement, Corvus now holds the Terra, Chisna, LMS, West Pogo and North Bullfrog properties (the “Spin-out Properties”). The Company’s consolidated financial statements reflect the Balance Sheets and Statement of Changes in Shareholders’ Equity of the Nevada and Other Alaska Business as if Corvus existed in its present form since the inception of the business on June 1, 2006. The financial statements have been presented under the predecessor basis of accounting with Balance Sheet amounts based on the amounts recorded by ITH. Management cautions readers of these financial statements that the allocation of expenses does not necessarily reflect future general and administrative expenses. The deficit of the Company at August 25, 2010 was calculated on the basis of the ratio of costs incurred on the Spin-out Properties in each period as compared to the costs incurred on all mineral properties of ITH in each of these periods to the cumulative transactions relating to the Spin-out Properties from the date of acquisition of those mineral properties to August 25, 2010 and includes an allocation of ITH’s general and administrative expenses from the date of acquisition of those mineral properties to August 25, 2010. The allocation of general and administrative expense was calculated on the basis of the ratio of costs incurred on the Spin-out Properties in each prior year as compared to the costs incurred on all mineral properties and exploration costs of ITH in each of those prior years. Subsequent to August 25, 2010, ITH has not incurred any expenses on behalf of Corvus and therefore, no allocation of ITH expenses subsequent to that date has occurred.

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
Nature of Operations [Text Block]	2. NATURE AND CONTINUANCE OF OPERATIONS The Company was incorporated on April 13, 2010 under the BCBCA. These consolidated financial statements reflect the cumulative operating results of the predecessor, as related to the mineral properties that were transferred to the Company from June 1, 2006. The Company is engaged in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. At May 31, 2015, the Company had interests in properties in Alaska and Nevada, U.S.A. The business of mining and exploration involves a high degree of risk and there can be no assurance that current exploration programs will result in profitable mining operations. The Company has no source of revenue, and has significant cash requirements to meet its administrative overhead and maintain its mineral property interests. The recoverability of amounts shown for mineral properties is dependent on several factors. These include the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the development of these properties, and future profitable production or proceeds from disposition of mineral properties. The carrying value of the Company’s mineral properties does not reflect current or future values. These consolidated financial statements have been prepared on a going concern basis, which presume the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. The Company’s ability to continue as a going concern is dependent upon achieving profitable operations and/or obtaining additional financing. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future within one year from the date the consolidated financial statements are issued. There is substantial doubt upon the Company’s ability to continue as going concern, as explained in the following paragraphs. The Company has sustained losses from operations, and has an ongoing requirement for capital investment to explore its mineral properties. As at May 31, 2015, the Company had working capital of $ 4,716,940 2,986,574 The Company also expects that it will need to raise substantial additional capital to accomplish its business plan over the next several years. Should such financing not be available in that time-frame, the Company will be required to reduce its activities and will not be able to carry out all of its presently planned exploration and development activities on its currently anticipated scheduling. These consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that might be necessary should the Company be unable to continue in business.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	3. SIGNIFICANT ACCOUNTING POLICIES These consolidated financial statements are presented in Canadian dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”). These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (collectively, the “Group”), Corvus Gold (USA) Inc. (“Corvus USA”) (a Nevada corporation), Corvus Gold Nevada Inc. (“Corvus Nevada”) (a Nevada corporation), Raven Gold Alaska Inc. (“Raven Gold”) (an Alaska corporation) and SoN Land and Water LLC (“SoN”) (a Nevada limited liability company). All intercompany transactions and balances were eliminated upon consolidation. The preparation of these financial statements in accordance with US GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting year. Actual outcomes could differ from these estimates. These financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the year in which the estimate is revised and future periods if the revision affects both current and future years. These estimates are based on historical experience, current and future economic conditions and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant estimates Significant assumptions about the future and other sources of estimation uncertainty that management has made at the end of the reporting year, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the carrying value and the recoverability of the capitalized acquisition costs included in the Balance Sheet, the assumptions used to determine the fair value of stock-based compensation in the Statement of Operations and Comprehensive Loss, and the estimated amounts of reclamation and environmental obligations. Significant judgments Critical accounting judgments are accounting policies that have been identified as being complex or involving subjective judgments or assessments. The Company made the following critical accounting judgments: · The determination of deferred tax assets and liabilities recorded in the Balance Sheet. · The analysis of resource calculations, drill results, laboratory work, etc., which can impact the Company’s assessment of impairments, and provisions, if any, for environmental rehabilitation and restorations. · The determination of functional currency. In accordance with FAS 52 “Foreign Currency Translation” Cash equivalents include highly liquid investments in term deposits that are readily convertible to known amounts of cash with original maturities of three months or less, and term deposits with original term of maturities greater than three months but are cashable after 30 days with no penalties, and are subject to an insignificant risk of change in value. Marketable securities held in companies with an active market are classified as held-for-trading securities. Held-for-trading securities are recorded at fair value in the financial statements with unrealized gains and losses recorded in profit or loss in the Statement of Operations and Comprehensive Income (Loss). The presentation currency of the Company is the Canadian dollar. The functional currency of each of the parent company and its subsidiaries is measured using the currency of the primary economic environment in which that entity operates. The functional currency of Corvus USA, Corvus Nevada, Raven Gold and SoN is US dollars, and for the Company the functional currency is Canadian dollars. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation of monetary items or on settlement of monetary items are recognized in profit or loss in the Statement of Operations and Comprehensive Income (Loss) in the year in which they arise. Exchange differences arising on the translation of non-monetary items are recognized in other comprehensive income (loss) in the Statement of Operations and Comprehensive Income (Loss) to the extent that gains and losses arising on those non-monetary items are also recognized in other comprehensive income (loss). Where the non-monetary gain or loss is recognized in profit or loss, the exchange component is also recognized in profit or loss. Parent and Subsidiary Companies The financial results and position of foreign operations whose functional currency is different from the presentation currency are translated as follows: · Assets and liabilities are translated at year-end exchange rates prevailing at that reporting date; and · Income and expenses are translated at monthly average exchange rates during the year. Exchange differences arising on translation of foreign operations are transferred directly to the Group’s exchange difference on translating foreign operations in the Statement of Operations and Comprehensive Income (Loss) and are reported as a separate component of shareholders’ equity titled “Cumulative Translation Differences”. These differences are recognized in profit or loss in the year in which the operation is disposed of. a) Recognition and measurement On initial recognition, property and equipment are valued at cost, being the purchase price and directly attributable costs of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and the estimated present value of any future unavoidable costs of dismantling and removing items. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. When parts of an item of property and equipment have different useful lives, they are accounted for as separate items (major components) of property and equipment. b) Subsequent costs The cost of replacing part of an item of property and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefit embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property and equipment are recognized in profit or loss as incurred. c) Major maintenance and repairs Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to profit or loss during the financial year in which they are incurred. d) Gains and losses Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds from disposal with the carrying amount, and are recognized net within other items in profit or loss. e) Depreciation Depreciation is recognized in profit or loss on a declining-balance basis at the following annual rates: Computer equipment - Vehicles - Tent - Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. The Company’s mineral projects are currently in the exploration and evaluation phase. All direct costs related to the acquisition of mineral property interests are capitalized. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment or when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%. The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate and recorded at the time environmental disturbance occurs. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to profit or loss. As at May 31, 2015, the Company recorded a provision of $ 132,579 107,000 The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized. The proceeds from the exercise of stock options, warrants and escrow shares are recorded as share capital in the amount for which the option, warrant or escrow share enabled the holder to purchase a share in the Company. Commissions paid to agents, and other related share issuance costs, such as legal, auditing, and printing, on the issue of the Company’s shares are charged directly to share capital. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as warrants Basic loss per share is calculated using the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method to compute the dilutive effect of options, warrants and similar instruments. Under this method, the dilutive effect on earnings (loss) per share is calculated presuming the exercise of outstanding options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the year. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. For the year ended May 31, 2015, 7,396,334 6,175,234 The Company follows the provisions of Financial Accounting Standards Board Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity based compensation awards to be accounted for using the fair value method. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of the awards. Compensation expense is measured at the grant date and recognized over the requisite service period, which is generally the vesting period. All non-monetary transactions are measured at the fair value of the asset surrendered or the asset received, whichever is more reliable, unless the transaction lacks commercial substance or the fair value cannot be reliably established. The commercial substance requirement is met when the future cash flows are expected to change significantly as a result of the transaction. When the fair value of a non-monetary transaction cannot be reliably measured, it is recorded at the carrying amount (after reduction, when appropriate, for impairment) of the asset given up adjusted by the fair value of any monetary consideration received or given. When the asset received or the consideration given up is shares in an actively traded market, the value of those shares will be considered fair value. Where the Company’s exploration and development activities are conducted with others, the accounts reflect only the Company’s proportionate interest in such activities. The Company currently does not have any joint venture accounting. Development Stage Entities (Topic 915) In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) which provides guidance for improving financial reporting and consolidation. This ASU affects any entity that is development stage entity under US GAAP and any entity that has an interest in an entity that is a development stage entity. This ASU will supersede Master Glossary term Development Stage Entity. This ASU also supersedes Topic 915, Development Stage Entities. The Company has early adopted this standard, effective June 1, 2012. The adoption of this accounting standard update eliminated the inception-to-date information in the consolidated financial statements. Presentation of Financial Statements – Going Concern (Subtopic 205-40) In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide related disclosures. The Company has early adopted this standard, effective March 1, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. The Company has evaluated all other recently issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s consolidated financial statements.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	May. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	4. FAIR VALUE OF FINANCIAL INSTRUMENTS Financial instruments recorded at fair value on the Consolidated Balance Sheet are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: Level 1 – valuation based on quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – valuation techniques based on inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 – valuation techniques using inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value hierarchy requires the use of observable market inputs whenever such inputs exist. A financial instrument is classified to the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. May 31, 2015 Level 1 Cash and cash equivalents $ 5,159,962 May 31, 2014 Level 1 Cash and cash equivalents $ 3,227,970 Marketable securities $ 147,451

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	May. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	5. MARKETABLE SECURITIES As at May 31, 2015, the Company held Nil (2014 – 200,000 147,451 200,000 0.14529 35,723 29,058 125,166

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	May. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6. PROPERTY AND EQUIPMENT Computer Equipment Vehicles Tent Total Cost Balance, May 31, 2013 $ 35,652 $ 70,728 $ - $ 106,380 Additions 1,706 - 54,698 56,404 Currency translation adjustments 1,375 3,234 (488) 4,121 Balance, May 31, 2014 38,733 73,962 54,210 166,905 Additions 13,822 - - 13,822 Currency translation adjustments 6,391 10,881 7,975 25,247 Balance, May 31, 2015 $ 58,946 $ 84,843 $ 62,185 $ 205,974 Depreciation Balance, May 31, 2013 $ 14,593 $ 27,145 $ - $ 41,738 Depreciation for the year 6,713 13,446 5,498 25,657 Currency translation adjustments 672 1,467 (76) 2,063 Balance, May 31, 2014 21,978 42,058 5,422 69,458 Depreciation for the year 7,497 10,247 10,447 28,191 Currency translation adjustments 3,160 6,918 1,544 11,622 Balance, May 31, 2015 $ 32,635 $ 59,223 $ 17,413 $ 109,271 Carrying amounts Balance, May 31, 2014 $ 16,755 $ 31,904 $ 48,788 $ 97,447 Balance, May 31, 2015 $ 26,311 $ 25,620 $ 44,772 $ 96,703

RECLAMATION BONDS

RECLAMATION BONDS	12 Months Ended
	May. 31, 2015
RECLAMATION BOND [Abstract]
RECLAMATION BOND [Text Block]	7. RECLAMATION BONDS As at May 31, 2015, the Company has not commenced development of any mineral properties and accordingly a reasonable estimate of the timing of the cash flows cannot be made. The Company has posted non-interest bearing bonds totalling $Nil (USD Nil) (2014 - $ 522,332 481,767

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	May. 31, 2015
Mineral Industries Disclosures [Abstract]
Mineral Industries Disclosures [Text Block]	8. MINERAL PROPERTIES West Pogo Chisna North Bullfrog LMS Terra Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) (note 8(d)) Balance, May 31, 2013 $ 370,271 $ 526,199 $ 1,923,902 $ 311,796 $ 311,796 $ 3,443,964 Acquisition costs Cash payments (note 8e)(ii)(1) and 8e)(ii)(4)) - - 1,135,989 - - 1,135,989 Gain from disposition (note 8d) - - - - 1,840,480 1,840,480 Proceeds on sale of capitalized acquisition costs - - - - (2,152,276) (2,152,276) Write-off of capitalized acquisition costs (395,485) - - - - (395,485) Currency translation adjustments 25,214 24,056 108,919 14,254 - 172,443 Balance, May 31, 2014 - 550,255 3,168,810 326,050 - 4,045,115 Acquisition costs Cash payments (note 8e)(ii)(1) - - 32,508 - - 32,508 Shares issued (note 8e)(ii)(1) - - 64,600 - - 64,600 Asset retirement obligations - - 132,579 - - 132,579 Currency translation adjustments - 80,950 462,915 47,967 - 591,832 Balance, May 31, 2015 $ - $ 631,205 $ 3,861,412 $ 374,017 $ - $ 4,866,634 West Pogo Chisna North Bullfrog LMS Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) 2015 Exploration costs: Aircraft services $ - $ 11,202 $ - $ - $ 11,202 Assay - 12,926 935,239 - 948,165 Drilling - - 1,577,253 - 1,577,253 Equipment rental - 1,466 232,808 - 234,274 Field costs 2,027 9,218 317,575 337 329,157 Geological/Geophysical 4,201 1,984 1,009,824 29,599 1,045,608 Land maintenance & tenure 11,023 77,972 263,754 27,331 380,080 Permits - - 1,700 - 1,700 Studies - - 920,301 - 920,301 Transportation - - - 1,130 1,130 Travel - 5,133 185,494 1,423 192,050 Total expenditures for the year $ 17,251 $ 119,901 $ 5,443,948 $ 59,820 $ 5,640,920 The following table presents costs incurred for exploration and evaluation activities for the year ended May 31, 2014: West Pogo Chisna North Bullfrog LMS Terra Gerfaut Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) (note 8(d)) 2014 Exploration costs: Aircraft services $ - $ - $ - $ - $ 1,778 $ - $ 1,778 Assay - - 1,774,143 440 - - 1,774,583 Drilling - - 2,719,667 - - - 2,719,667 Equipment rental - - 254,094 - 840 - 254,934 Field costs - 13,572 333,334 561 8 2,817 350,292 Geological/Geophysical - 12,287 1,097,613 12,647 32,073 31 1,154,651 Land maintenance & tenure 3,371 242,543 301,320 20,701 95,735 - 663,670 Permits - - 7,256 - - - 7,256 Professional fees - - - - 7,341 - 7,341 Studies - - 1,066,969 - - - 1,066,969 Transportation - 1,526 - 1,755 - - 3,281 Travel - 8,601 229,671 - 4,442 - 242,714 3,371 278,529 7,784,067 36,104 142,217 2,848 8,247,136 Cost Recovery - - - - (95,957) - (95,957) Total expenditures for the year $ 3,371 $ 278,529 $ 7,784,067 $ 36,104 $ 46,260 $ 2,848 $ 8,151,179 a) Chisna Property, Alaska The Chisna property is located in the eastern Alaska Range, Alaska, and is comprised of unpatented mineral claims owned 100 On November 2, 2009, ITH and Talon Gold Alaska, Inc. (ITH’s wholly-owned Alaskan subsidiary) (“Talon Gold”) entered into an agreement (as amended) with Ocean Park Ventures Corp. (“OPV”). Pursuant to the agreement, an Alaskan subsidiary of OPV (“Subco”) and Raven Gold formed a joint venture (the “OPV/Raven JV”) for the purpose of exploring and developing the Chisna property. On November 7, 2012, OPV withdrew from the joint venture and thereby returned 100% of the Chisna Project to the Company. On March 24, 2010, Raven Gold entered into a Mineral Exploration Agreement with Option to Lease with Ahtna Incorporated (“Ahtna”), an Alaska Native Regional Corporation, concerning approximately 26,516 The key terms of the Ahtna Agreement include the following: ⋅ exclusive right to explore, and the option to enter into a mining lease to develop and mine, the subject lands for a six-year period ⋅ annual option payments of USD 1.00 1.25 ⋅ minimum exploration expenditures of USD 4.00 8.00 ⋅ at the end of the third year, Raven Gold will release at least 50 ⋅ preferential contracting, hiring and training practice for Ahtna shareholders or designees ⋅ scholarship contributions to the Ahtna Heritage Foundation (USD 10,000 ⋅ all surface work subject to Ahtna archaeological and cultural clearance Upon Raven Gold having expended an aggregate of USD 1,000,000 2,500 ⋅ exclusive mining rights for an initial term of ten years and so long thereafter as commercial production continues ⋅ minimum exploration expenditures of USD 4.00 9.00 ⋅ advance minimum royalty payments of USD 6.00 12.00 50 ⋅ NSR production royalties for gold and silver scaled from 2.5 550 14 1,900 2.5 3 ⋅ Ahtna is also entitled to receive an amount by which 20 10 ⋅ Ahtna has the right to acquire a working interest in the lands subject to the lease, which is to be greater than or equal to 10 15 200 During the year ended May 31, 2015, the Company gave notification and terminated the Ahtna lease. b) West Pogo Property, Alaska The West Pogo property is located approximately 50 kilometres north of Delta Junction, Alaska, and consists of unpatented mineral claims owned 100 During the year ended May 31, 2014, the Company wrote off the West Pogo property, as there had been a delay in exploration work on the property for an extended period of time. On July 29, 2015, Raven Gold completed a transaction with Millrock Resources Inc. on the West Pogo and Goodpaster database projects in Alaska. The ownership position was sold for USD 120,000 3 1 1 1 5 1 2 ⋅ Total cash component for the asset will total USD 775,000 5 ⋅ The Company retained NSR royalty of 3 1 1 4 c) LMS Property, Alaska The LMS property consists of unpatented mineral claims owned 100 d) Terra Property, Alaska The Terra Property consisted of State of Alaska unpatented lode mining claims held by the Company and State of Alaska unpatented lode mining claims leased from an individual. During the year ended May 31, 2014, Raven Gold completed the sale of its minority interest in the Terra Property. As a result, there was a net gain on sale of $ 1,840,480 e) North Bullfrog Project, Nevada The Company’s North Bullfrog project consists of certain leased patented lode mining claims and federal unpatented mining claims owned 100 (i) Interests acquired from Redstar Gold Corp. On October 9, 2009, a US subsidiary of ITH at the time (Corvus Nevada) completed the acquisition of all of the interests of Redstar Gold Corp. (“Redstar”) and Redstar Gold U.S.A. Inc. (“Redstar US”) in the North Bullfrog project, which consisted of the following leases: (1) Pursuant to a mining lease and option to purchase agreement made effective October 27, 2008 between Redstar and an arm’s length limited liability company, Redstar has leased (and has the option to purchase) 12 patented mining claims referred to as the “Connection” property. The ten-year, renewable mining lease requires advance minimum royalty payments (recoupable from production royalties, but not applicable to the purchase price if the option to purchase is exercised) of USD 10,800 10,800 16,200 1,000,000 4 1,250,000 1 5,000,000 (2) Pursuant to a mining lease made and entered into as of May 8, 2006 between Redstar and two arm’s length individuals, Redstar has leased 3 patented mining claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 4,000 3,500 4,500 2 1,000,000 1 2,000,000 (3) Pursuant to a mining lease made and entered into as of May 8, 2006 between Redstar and an arm’s length private Nevada corporation, Redstar has leased 2 patented mining claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 years, and for so long thereafter as mining activities continue on the claims or contiguous claims held by the lessee. The lessee is required to pay advance minimum royalty payments (recoupable from production royalties) of USD 2,000 2,000 3,000 3 850,000 1 2,550,000 2,400 2,400 3,600 (4) Pursuant to a mining lease made and entered into as of May 16, 2006 between Redstar and an arm’s length individual, Redstar has leased 12 patented mineral claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 20,500 20,000 4 1,000,000 1 4,000,000 (5) Pursuant to a mining lease made and entered into as of May 22, 2006 between Redstar and two arm’s length individuals, Redstar has leased 3 patented mineral claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 8,000 4,800 7,200 2 1,000,000 1 2,000,000 (6) Pursuant to a mining lease made and entered into as of June 16, 2006 between Redstar and an arm’s length individual, Redstar has leased one patented mineral claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 2,000 2,000 3,000 2 1,000,000 1 2,000,000 As a consequence of the acquisition of Redstar and Redstar US’s interest in the foregoing leases, Corvus Nevada is now the lessee under all of such leases. The Company acquired all of the shares of Corvus Nevada on August 26, 2010 upon the completion of the Arrangement. (ii) Interests acquired directly by Corvus Nevada (1) Pursuant to a mining lease and option to purchase agreement made effective December 1, 2007 between Corvus Nevada and a group of arm’s length limited partnerships, Corvus Nevada has leased (and has the option to purchase) patented mining claims referred to as the “Mayflower” claims which form part of the North Bullfrog project. The terms of the lease/option are as follows: ⋅ Terms : Initial term of five years, commencing December 1, 2007, with the option to extend the lease for an additional five years. The lease will continue for as long thereafter as the property is in commercial production or, alternatively, for an additional three years if Corvus Nevada makes advance minimum royalty payments of USD 100,000 ⋅ Lease Payments : USD 5,000 25,000 5,000 20,000 20,000 108,750 46,250 10,000 50,000 10,000 50,000 126,924 10,000 50,000 35,871 10,000 50,000 21,200 ⋅ Anti-Dilution: Pursuant to an amended agreement agreed to by the lessors in March 2015, the Company shall deliver a total of 85,000 10,000 25,000 ⋅ Work Commitments : USD 100,000 200,000 300,000 ⋅ Retained Royalty : Corvus Nevada will pay the lessors a NSR royalty of 2 400 3 401 500 4 500 (2) Pursuant to a mining lease and option to purchase made effective March 1, 2011 between Corvus Nevada and an arm’s length individual, Corvus Nevada has leased, and has the option to purchase, 2 patented mineral claims which form part of the North Bullfrog project holdings. The lease is for an initial term of 10 20,000 25,000 30,000 2 1,000,000 1 2,000,000 (3) Pursuant to a purchase agreement made effective March 28, 2013, Corvus Nevada has agreed to purchase the surface rights of five patented mining claims owned by two arm’s length individuals for USD 160,000 0.02 12 4.77 406,240 400,000 157,408 248,832 240,000 (4) In December 2013, SoN completed the purchase of a parcel of land approximately 30 km north of the North Bullfrog project which carries with it 1,600 1,100,118 1,034,626 (5) On March 30, 2015, Lunar Landing, LLC signed a lease agreement with Corvus Nevada to lease private property containing the three patented Sunflower claims to Corvus Nevada, which are adjacent to the Yellowrose claims leased in 2014. The term of the lease is 3 7 5,000 The lease includes a 4% NSR royalty on production, with an option to purchase the royalty for USD 500,000 per 1% or USD 2,000,000 for the entire 4% royalty. The lease also includes the option to purchase the property for USD 300,000. Acquisitions The acquisition of title to mineral properties is a detailed and time-consuming process. The Company has taken steps, in accordance with industry norms, to verify title to mineral properties in which it has an interest. Although the Company has taken every reasonable precaution to ensure that legal title to its properties is properly recorded in the name of the Company (or, in the case of an option, in the name of the relevant optionor), there can be no assurance that such title will ultimately be secured. Environmental Expenditures The operations of the Company may in the future be affected from time to time in varying degrees by changes in environmental regulations, including those for future removal and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company’s policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. Estimated future removal and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. The Company has estimated the fair value of the liability for asset retirement that arose as a result of exploration activities to be $ 132,579 107,000

PROMISSORY NOTE PAYABLE

PROMISSORY NOTE PAYABLE	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	9. PROMISSORY NOTE PAYABLE On March 28, 2013, the Company issued a promissory note payable of USD 240,000 4.77 298,488 260,208

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	May. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. SHARE CAPITAL Authorized Unlimited common shares without par value. Share issuances During the year ended May 31, 2015: a) On August 27, 2014, the Company closed a non-brokered public equity financing and issued 5,150,000 1.20 6,180,000 190,167 b) On February 27, 2015, the Company closed a non-brokered private placement equity financing and issued 4,500,000 1.00 4,500,000 17,810 c) An aggregate of 18,900 18,900 9,450 d) On April 8, 2015, the Company issued 85,000 64,600 During the year ended May 31, 2014: a) On November 25, 2013, the Company closed a non-brokered private placement equity financing and issued 5,230,000 1.00 5,230,000 5 420,000 21,000 19,312 b) An aggregate of 70,000 70,000 48,300 Stock options Stock options awarded to employees and non-employees by the Company are measured and recognized in the Consolidated Statement of Operations and Comprehensive Loss over the vesting period. The Company has adopted an incentive stock option plan (the “2010 Plan”). The essential elements of the 2010 Plan provide that the aggregate number of common shares of the Company’s share capital that may be made issuable pursuant to options granted under the 2010 Plan (together with any other shares which may be issued under other share compensation plans of the Company) may not exceed 10% of the number of issued shares of the Company at the time of the granting of the options. Options granted under the 2010 Plan will have a maximum term of ten years. The exercise price of options granted under the 2010 Plan will not be less than the greater of the market price of the common shares (as defined by the Toronto Stock Exchange (“TSX”), currently defined as the 5 day volume weighted average price for the 5 trading days immediately preceding the date of grant) or the closing market price of the Company’s common shares for the trading day immediately preceding the date of grant), or such other price as may be agreed to by the Company and accepted by the TSX. Options granted under the 2010 Plan vest immediately, unless otherwise determined by the directors at the date of grant. 2015 2014 Weighted Weighted Average Average Number of Exercise Number of Exercise Options Price Options Price Balance, beginning of the year 6,175,234 $ 0.84 4,075,234 $ 0.88 Granted 1,575,000 1.34 2,470,000 0.76 Exercised (18,900) (0.50) (70,000) (0.69) Forfeited - - (300,000) (0.81) Expired (335,000) (1.00) - - Balance, end of the year 7,396,334 $ 0.94 6,175,234 $ 0.84 The weighted average remaining contractual life of options outstanding at May 31, 2015 was 2.85 3.46 2015 2014 Number Exercisable Exercisable Exercise of at Year- Exercise Number of at Year- Expiry Date Price Options End Price Options End September 27, 2014 $ - - - $ 1.08 150,000 150,000 July 29, 2016 $ 0.50 464,434 464,434 $ 0.50 483,334 483,334 November 17, 2016 $ 0.67 210,000 210,000 $ 0.67 210,000 210,000 January 23, 2017 $ 1.10 50,000 25,000 $ - - - May 1, 2017 $ 0.73 50,000 25,000 $ - - - May 29, 2017 $ 0.92 300,000 300,000 $ 0.92 300,000 300,000 September 19, 2017 (note 16) $ 0.96 2,436,900 2,436,900 $ 0.96 2,561,900 1,628,370 October 29, 2017 $ 0.96 100,000 100,000 $ - - - August 16, 2018 $ 0.76 2,420,000 1,611,720 $ 0.76 2,470,000 822,510 September 8, 2019 $ 1.40 1,365,000 454,545 $ - - - 7,396,334 5,627,599 6,175,234 3,594,214 1,109,011 1,449,654 For the year ended May 31, 2015 2014 Risk-free interest rate 1.50 % 1.96 % Expected life of options 4.62 years 5 years Annualized volatility 69.21 % 100 % Dividend yield 0 % 0 % Exercise price $ 1.34 $ 0.76 Fair value per share $ 0.70 $ 0.59 Annualized volatility was determined by reference to historic volatility of the Company. For the year ended May 31, 2015 2014 Consulting $ 570,913 $ 464,638 Exploration expenditures – Geological/geophysical 36,820 63,670 Investor relations 208,336 371,459 Professional fees 48,841 69,761 Wages and benefits 620,785 876,741 $ 1,485,695 $ 1,846,269

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	May. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	11. RELATED PARTY TRANSACTIONS For the year ended May 31, 2015 2014 Consulting fees to CFO $ 97,000 $ 97,000 Wages and benefits to CEO, President and COO 901,893 752,850 Directors fees (included in consulting fees) 122,750 99,774 Fees to Vice President of Corporate Communications (included in investor relations) 180,000 172,500 Professional fees to Vice President 25,680 84,907 Stock-based compensation to related parties 1,247,408 1,590,465 $ 2,574,731 $ 2,797,496 As at May 31, 2015, included in accounts payable and accrued liabilities was $ 9,880 27,462 These amounts were unsecured, non-interest bearing and had no fixed terms or terms of repayment. Accordingly, fair value could not be readily determined. The Company entered into a retainer agreement dated June 1, 2011 with Lawrence W. Talbot Law Corporation (“LWTLC”), a company with officers in common, pursuant to which LWTLC agreed to provide legal services to the Company. Pursuant to the retainer agreement, the Company agreed to pay LWTLC a minimum annual retainer of $ 72,000 73,830 The Company has also entered into change of control agreements with officers of the Company. In the case of termination, the officers are entitled to an amount equal to a multiple (ranging from two times to three times) of the sum of the annual base salary then payable to the officer, the aggregate amount of bonus(es) (if any) paid to the officer within the calendar year immediate preceding the Effective Date of Termination, and an amount equal to the vacation pay which would otherwise be payable for the one year period next following the Effective Date of Termination.

GEOGRAPHIC SEGMENTED INFORMATIO

GEOGRAPHIC SEGMENTED INFORMATION	12 Months Ended
	May. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	12. GEOGRAPHIC SEGMENTED INFORMATION Canada United States Total May 31, 2015 Capitalized acquisition costs $ - $ 4,866,634 $ 4,866,634 Property and equipment $ 2,840 $ 93,863 $ 96,703 May 31, 2014 Capitalized acquisition costs $ - $ 4,045,115 $ 4,045,115 Property and equipment $ 4,057 $ 93,390 $ 97,447 For the year ended May 31, 2015 2014 Net loss for the year – Canada $ (3,126,865) $ (3,460,777) Net loss for the year – United States (7,450,622) (8,204,197) Net loss for the year $ (10,577,487) $ (11,664,974)

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	May. 31, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	13. SUPPLEMENTAL CASH FLOW INFORMATION For the year ended May 31, 2015 2014 Supplemental cash flow information Interest paid (received) $ (11,661) $ - Income taxes paid (received) $ - $ - Non-cash financing and investing transactions Shares issued to acquire mineral properties $ 64,600 $ - Change in asset retirement obligations included in capitalized acquisition costs $ 132,579 $ - Reclassification of contributed surplus on exercise of stock options $ 7,376 $ 23,366

SUBSIDIARIES

SUBSIDIARIES	12 Months Ended
	May. 31, 2015
Subsidiaries [Abstract]
Subsidiaries [Text Block]	14. SUBSIDIARIES The Company’s The Company’s effective interest effective interest Country of Principal for for Incorporation Activity 2015 2014 Corvus Gold (USA) Inc. USA Holding company 100 % 100 % Raven Gold Alaska Inc. USA Exploration company 100 % 100 % Corvus Gold Nevada Inc. USA Exploration company 100 % 100 % SoN Land & Water LLC USA Exploration company 100 % 100 %

INCOME TAXES

INCOME TAXES	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	15. INCOME TAXES 2015 2014 Loss before income taxes $ (10,577,487) $ (11,664,974) Statutory Canadian corporate tax rate 26.00 % 26.00 % Income tax recovery at statutory rates $ (2,750,147) $ (3,032,894) Stock-based compensation 386,281 480,030 Non-deductible items - - Effect of tax rate change 775,666 - Difference in tax rates in other jurisdictions (647,273) (582,381) Tax benefits not realized 2,235,473 3,135,245 Income tax recovery $ - $ - 2015 2014 Deferred income tax assets (liabilities) Mineral properties $ 13,942,000 $ 10,845,000 Property and equipment 19,000 14,000 Marketable securities - 11,000 Share issuance costs 56,000 48,000 Non-capital losses available for future periods 5,316,000 3,983,000 19,333,000 14,901,000 Valuation allowance (19,333,000) (14,901,000) Net deferred tax assets $ - $ - At May 31, 2015, the Company has available non-capital tax losses for Canadian income tax purposes of approximately $ 6,450,000 10,704,000 Canada United States 2029 $ - $ 1,189,000 2030 - 2,000 2031 379,000 177,000 2032 1,089,000 1,514,000 2033 1,443,000 1,997,000 2034 1,733,000 3,892,000 2035 1,806,000 1,933,000 $ 6,450,000 $ 10,704,000 In addition, the Company has available mineral resource expenses that are related to the Company’s exploration activities in the United States of approximately $ 45,578,000 333,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	May. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	16. SUBSEQUENT EVENTS There were the following subsequent events since May 31, 2015. a) On July 29, 2015, Raven Gold completed a transaction with Millrock Resources Inc. on the West Pogo and Goodpaster database projects in Alaska. The ownership position was sold for USD 120,000 b) On July 31, 2015, 20,000 0.96 September 19, 2017

SIGNIFICANT ACCOUNTING POLICI22

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation These consolidated financial statements are presented in Canadian dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”).
Consolidation, Policy [Policy Text Block]	Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (collectively, the “Group”), Corvus Gold (USA) Inc. (“Corvus USA”) (a Nevada corporation), Corvus Gold Nevada Inc. (“Corvus Nevada”) (a Nevada corporation), Raven Gold Alaska Inc. (“Raven Gold”) (an Alaska corporation) and SoN Land and Water LLC (“SoN”) (a Nevada limited liability company). All intercompany transactions and balances were eliminated upon consolidation.
Use of Estimates, Policy [Policy Text Block]	Significant judgments, estimates and assumptions The preparation of these financial statements in accordance with US GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting year. Actual outcomes could differ from these estimates. These financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the year in which the estimate is revised and future periods if the revision affects both current and future years. These estimates are based on historical experience, current and future economic conditions and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant estimates Significant assumptions about the future and other sources of estimation uncertainty that management has made at the end of the reporting year, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the carrying value and the recoverability of the capitalized acquisition costs included in the Balance Sheet, the assumptions used to determine the fair value of stock-based compensation in the Statement of Operations and Comprehensive Loss, and the estimated amounts of reclamation and environmental obligations. Significant judgments Critical accounting judgments are accounting policies that have been identified as being complex or involving subjective judgments or assessments. The Company made the following critical accounting judgments: · The determination of deferred tax assets and liabilities recorded in the Balance Sheet. · The analysis of resource calculations, drill results, laboratory work, etc., which can impact the Company’s assessment of impairments, and provisions, if any, for environmental rehabilitation and restorations. · The determination of functional currency. In accordance with FAS 52 “Foreign Currency Translation”
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents Cash equivalents include highly liquid investments in term deposits that are readily convertible to known amounts of cash with original maturities of three months or less, and term deposits with original term of maturities greater than three months but are cashable after 30 days with no penalties, and are subject to an insignificant risk of change in value.
Marketable Securities, Policy [Policy Text Block]	Marketable securities Marketable securities held in companies with an active market are classified as held-for-trading securities. Held-for-trading securities are recorded at fair value in the financial statements with unrealized gains and losses recorded in profit or loss in the Statement of Operations and Comprehensive Income (Loss).
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation The presentation currency of the Company is the Canadian dollar. The functional currency of each of the parent company and its subsidiaries is measured using the currency of the primary economic environment in which that entity operates. The functional currency of Corvus USA, Corvus Nevada, Raven Gold and SoN is US dollars, and for the Company the functional currency is Canadian dollars. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation of monetary items or on settlement of monetary items are recognized in profit or loss in the Statement of Operations and Comprehensive Income (Loss) in the year in which they arise. Exchange differences arising on the translation of non-monetary items are recognized in other comprehensive income (loss) in the Statement of Operations and Comprehensive Income (Loss) to the extent that gains and losses arising on those non-monetary items are also recognized in other comprehensive income (loss). Where the non-monetary gain or loss is recognized in profit or loss, the exchange component is also recognized in profit or loss. Parent and Subsidiary Companies The financial results and position of foreign operations whose functional currency is different from the presentation currency are translated as follows: · Assets and liabilities are translated at year-end exchange rates prevailing at that reporting date; and · Income and expenses are translated at monthly average exchange rates during the year. Exchange differences arising on translation of foreign operations are transferred directly to the Group’s exchange difference on translating foreign operations in the Statement of Operations and Comprehensive Income (Loss) and are reported as a separate component of shareholders’ equity titled “Cumulative Translation Differences”. These differences are recognized in profit or loss in the year in which the operation is disposed of.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and equipment a) Recognition and measurement On initial recognition, property and equipment are valued at cost, being the purchase price and directly attributable costs of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and the estimated present value of any future unavoidable costs of dismantling and removing items. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. When parts of an item of property and equipment have different useful lives, they are accounted for as separate items (major components) of property and equipment. b) Subsequent costs The cost of replacing part of an item of property and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefit embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property and equipment are recognized in profit or loss as incurred. c) Major maintenance and repairs Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to profit or loss during the financial year in which they are incurred. d) Gains and losses Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds from disposal with the carrying amount, and are recognized net within other items in profit or loss. e) Depreciation Depreciation is recognized in profit or loss on a declining-balance basis at the following annual rates: Computer equipment - Vehicles - Tent - Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate.
Capitalization of Internal Costs, Policy [Policy Text Block]	Mineral properties and exploration and evaluation expenditures The Company’s mineral projects are currently in the exploration and evaluation phase. All direct costs related to the acquisition of mineral property interests are capitalized. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment or when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%.
Asset Retirement Obligations, Policy [Policy Text Block]	Asset retirement obligations The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate and recorded at the time environmental disturbance occurs. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to profit or loss. As at May 31, 2015, the Company recorded a provision of $ 132,579 107,000
Income Tax, Policy [Policy Text Block]	Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized.
Share Capital [Policy Text Block]	Share capital The proceeds from the exercise of stock options, warrants and escrow shares are recorded as share capital in the amount for which the option, warrant or escrow share enabled the holder to purchase a share in the Company. Commissions paid to agents, and other related share issuance costs, such as legal, auditing, and printing, on the issue of the Company’s shares are charged directly to share capital.
Equity Method Investments Issuances, Policy [Policy Text Block]	Valuation of equity units issued in private placements The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as warrants
Earnings Per Share, Policy [Policy Text Block]	Earnings (loss) per share Basic loss per share is calculated using the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method to compute the dilutive effect of options, warrants and similar instruments. Under this method, the dilutive effect on earnings (loss) per share is calculated presuming the exercise of outstanding options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the year. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. For the year ended May 31, 2015, 7,396,334 6,175,234
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based compensation The Company follows the provisions of Financial Accounting Standards Board Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity based compensation awards to be accounted for using the fair value method. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of the awards. Compensation expense is measured at the grant date and recognized over the requisite service period, which is generally the vesting period.
Non Monetary Transactions [Policy Text Block]	Non-monetary transactions All non-monetary transactions are measured at the fair value of the asset surrendered or the asset received, whichever is more reliable, unless the transaction lacks commercial substance or the fair value cannot be reliably established. The commercial substance requirement is met when the future cash flows are expected to change significantly as a result of the transaction. When the fair value of a non-monetary transaction cannot be reliably measured, it is recorded at the carrying amount (after reduction, when appropriate, for impairment) of the asset given up adjusted by the fair value of any monetary consideration received or given. When the asset received or the consideration given up is shares in an actively traded market, the value of those shares will be considered fair value.
Interest in Unincorporated Joint Ventures or Partnerships, Policy [Policy Text Block]	Joint venture accounting Where the Company’s exploration and development activities are conducted with others, the accounts reflect only the Company’s proportionate interest in such activities. The Company currently does not have any joint venture accounting.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements Development Stage Entities (Topic 915) In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) which provides guidance for improving financial reporting and consolidation. This ASU affects any entity that is development stage entity under US GAAP and any entity that has an interest in an entity that is a development stage entity. This ASU will supersede Master Glossary term Development Stage Entity. This ASU also supersedes Topic 915, Development Stage Entities. The Company has early adopted this standard, effective June 1, 2012. The adoption of this accounting standard update eliminated the inception-to-date information in the consolidated financial statements. Presentation of Financial Statements – Going Concern (Subtopic 205-40) In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide related disclosures. The Company has early adopted this standard, effective March 1, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. The Company has evaluated all other recently issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s consolidated financial statements.

FAIR VALUE OF FINANCIAL INSTR23

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	May. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the financial instruments recorded at fair value, classified using the fair value hierarchy described above: May 31, 2015 Level 1 Cash and cash equivalents $ 5,159,962 May 31, 2014 Level 1 Cash and cash equivalents $ 3,227,970 Marketable securities $ 147,451

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	May. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Computer Equipment Vehicles Tent Total Cost Balance, May 31, 2013 $ 35,652 $ 70,728 $ - $ 106,380 Additions 1,706 - 54,698 56,404 Currency translation adjustments 1,375 3,234 (488) 4,121 Balance, May 31, 2014 38,733 73,962 54,210 166,905 Additions 13,822 - - 13,822 Currency translation adjustments 6,391 10,881 7,975 25,247 Balance, May 31, 2015 $ 58,946 $ 84,843 $ 62,185 $ 205,974 Depreciation Balance, May 31, 2013 $ 14,593 $ 27,145 $ - $ 41,738 Depreciation for the year 6,713 13,446 5,498 25,657 Currency translation adjustments 672 1,467 (76) 2,063 Balance, May 31, 2014 21,978 42,058 5,422 69,458 Depreciation for the year 7,497 10,247 10,447 28,191 Currency translation adjustments 3,160 6,918 1,544 11,622 Balance, May 31, 2015 $ 32,635 $ 59,223 $ 17,413 $ 109,271 Carrying amounts Balance, May 31, 2014 $ 16,755 $ 31,904 $ 48,788 $ 97,447 Balance, May 31, 2015 $ 26,311 $ 25,620 $ 44,772 $ 96,703

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	May. 31, 2015
Mineral Industries Disclosures [Abstract]
Capitalized Costs Relating to Acquisition Activities Disclosure [Table Text Block]	The Company had the following activity related to capitalized acquisition costs: West Pogo Chisna North Bullfrog LMS Terra Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) (note 8(d)) Balance, May 31, 2013 $ 370,271 $ 526,199 $ 1,923,902 $ 311,796 $ 311,796 $ 3,443,964 Acquisition costs Cash payments (note 8e)(ii)(1) and 8e)(ii)(4)) - - 1,135,989 - - 1,135,989 Gain from disposition (note 8d) - - - - 1,840,480 1,840,480 Proceeds on sale of capitalized acquisition costs - - - - (2,152,276) (2,152,276) Write-off of capitalized acquisition costs (395,485) - - - - (395,485) Currency translation adjustments 25,214 24,056 108,919 14,254 - 172,443 Balance, May 31, 2014 - 550,255 3,168,810 326,050 - 4,045,115 Acquisition costs Cash payments (note 8e)(ii)(1) - - 32,508 - - 32,508 Shares issued (note 8e)(ii)(1) - - 64,600 - - 64,600 Asset retirement obligations - - 132,579 - - 132,579 Currency translation adjustments - 80,950 462,915 47,967 - 591,832 Balance, May 31, 2015 $ - $ 631,205 $ 3,861,412 $ 374,017 $ - $ 4,866,634
Cost Incurred in Acquisition Exploration and Evaluation Activities Disclosure [Table Text Block]	The following table presents costs incurred for exploration and evaluation activities for the year ended May 31, 2015: West Pogo Chisna North Bullfrog LMS Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) 2015 Exploration costs: Aircraft services $ - $ 11,202 $ - $ - $ 11,202 Assay - 12,926 935,239 - 948,165 Drilling - - 1,577,253 - 1,577,253 Equipment rental - 1,466 232,808 - 234,274 Field costs 2,027 9,218 317,575 337 329,157 Geological/Geophysical 4,201 1,984 1,009,824 29,599 1,045,608 Land maintenance & tenure 11,023 77,972 263,754 27,331 380,080 Permits - - 1,700 - 1,700 Studies - - 920,301 - 920,301 Transportation - - - 1,130 1,130 Travel - 5,133 185,494 1,423 192,050 Total expenditures for the year $ 17,251 $ 119,901 $ 5,443,948 $ 59,820 $ 5,640,920 The following table presents costs incurred for exploration and evaluation activities for the year ended May 31, 2014: West Pogo Chisna North Bullfrog LMS Terra Gerfaut Total (note 8(b)) (note 8(a)) (notes 8(e)) (note 8(c)) (note 8(d)) 2014 Exploration costs: Aircraft services $ - $ - $ - $ - $ 1,778 $ - $ 1,778 Assay - - 1,774,143 440 - - 1,774,583 Drilling - - 2,719,667 - - - 2,719,667 Equipment rental - - 254,094 - 840 - 254,934 Field costs - 13,572 333,334 561 8 2,817 350,292 Geological/Geophysical - 12,287 1,097,613 12,647 32,073 31 1,154,651 Land maintenance & tenure 3,371 242,543 301,320 20,701 95,735 - 663,670 Permits - - 7,256 - - - 7,256 Professional fees - - - - 7,341 - 7,341 Studies - - 1,066,969 - - - 1,066,969 Transportation - 1,526 - 1,755 - - 3,281 Travel - 8,601 229,671 - 4,442 - 242,714 3,371 278,529 7,784,067 36,104 142,217 2,848 8,247,136 Cost Recovery - - - - (95,957) - (95,957) Total expenditures for the year $ 3,371 $ 278,529 $ 7,784,067 $ 36,104 $ 46,260 $ 2,848 $ 8,151,179

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	May. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of the stock option plan as of May 31, 2015 and 2014, and changes during the years are presented below: 2015 2014 Weighted Weighted Average Average Number of Exercise Number of Exercise Options Price Options Price Balance, beginning of the year 6,175,234 $ 0.84 4,075,234 $ 0.88 Granted 1,575,000 1.34 2,470,000 0.76 Exercised (18,900) (0.50) (70,000) (0.69) Forfeited - - (300,000) (0.81) Expired (335,000) (1.00) - - Balance, end of the year 7,396,334 $ 0.94 6,175,234 $ 0.84
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Stock options outstanding are as follows: 2015 2014 Number Exercisable Exercisable Exercise of at Year- Exercise Number of at Year- Expiry Date Price Options End Price Options End September 27, 2014 $ - - - $ 1.08 150,000 150,000 July 29, 2016 $ 0.50 464,434 464,434 $ 0.50 483,334 483,334 November 17, 2016 $ 0.67 210,000 210,000 $ 0.67 210,000 210,000 January 23, 2017 $ 1.10 50,000 25,000 $ - - - May 1, 2017 $ 0.73 50,000 25,000 $ - - - May 29, 2017 $ 0.92 300,000 300,000 $ 0.92 300,000 300,000 September 19, 2017 (note 16) $ 0.96 2,436,900 2,436,900 $ 0.96 2,561,900 1,628,370 October 29, 2017 $ 0.96 100,000 100,000 $ - - - August 16, 2018 $ 0.76 2,420,000 1,611,720 $ 0.76 2,470,000 822,510 September 8, 2019 $ 1.40 1,365,000 454,545 $ - - - 7,396,334 5,627,599 6,175,234 3,594,214
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The Company uses the fair value method for determining stock-based compensation for all options granted during the years. The fair value of options granted was $ 1,109,011 1,449,654 For the year ended May 31, 2015 2014 Risk-free interest rate 1.50 % 1.96 % Expected life of options 4.62 years 5 years Annualized volatility 69.21 % 100 % Dividend yield 0 % 0 % Exercise price $ 1.34 $ 0.76 Fair value per share $ 0.70 $ 0.59
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Stock-based compensation has been allocated as follows: For the year ended May 31, 2015 2014 Consulting $ 570,913 $ 464,638 Exploration expenditures – Geological/geophysical 36,820 63,670 Investor relations 208,336 371,459 Professional fees 48,841 69,761 Wages and benefits 620,785 876,741 $ 1,485,695 $ 1,846,269

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	May. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	The Company entered into the following transactions with related parties: For the year ended May 31, 2015 2014 Consulting fees to CFO $ 97,000 $ 97,000 Wages and benefits to CEO, President and COO 901,893 752,850 Directors fees (included in consulting fees) 122,750 99,774 Fees to Vice President of Corporate Communications (included in investor relations) 180,000 172,500 Professional fees to Vice President 25,680 84,907 Stock-based compensation to related parties 1,247,408 1,590,465 $ 2,574,731 $ 2,797,496

GEOGRAPHIC SEGMENTED INFORMAT28

GEOGRAPHIC SEGMENTED INFORMATION (Tables)	12 Months Ended
	May. 31, 2015
Segment Reporting [Abstract]
Long-lived Assets by Geographic Areas [Table Text Block]	The Company operates in one industry segment, the mineral resources industry, and in two geographical segments, Canada and the United States. All current exploration activities are conducted in the United States and Canada. The significant asset categories identifiable with these geographical areas are as follows: Canada United States Total May 31, 2015 Capitalized acquisition costs $ - $ 4,866,634 $ 4,866,634 Property and equipment $ 2,840 $ 93,863 $ 96,703 May 31, 2014 Capitalized acquisition costs $ - $ 4,045,115 $ 4,045,115 Property and equipment $ 4,057 $ 93,390 $ 97,447 For the year ended May 31, 2015 2014 Net loss for the year – Canada $ (3,126,865) $ (3,460,777) Net loss for the year – United States (7,450,622) (8,204,197) Net loss for the year $ (10,577,487) $ (11,664,974)

SUPPLEMENTAL CASH FLOW INFORM29

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	May. 31, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	For the year ended May 31, 2015 2014 Supplemental cash flow information Interest paid (received) $ (11,661) $ - Income taxes paid (received) $ - $ - Non-cash financing and investing transactions Shares issued to acquire mineral properties $ 64,600 $ - Change in asset retirement obligations included in capitalized acquisition costs $ 132,579 $ - Reclassification of contributed surplus on exercise of stock options $ 7,376 $ 23,366

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	12 Months Ended
	May. 31, 2015
Subsidiaries [Abstract]
Schedule Of Significant Subsidiaries [Table Text Block]	The Company’s The Company’s effective interest effective interest Country of Principal for for Incorporation Activity 2015 2014 Corvus Gold (USA) Inc. USA Holding company 100 % 100 % Raven Gold Alaska Inc. USA Exploration company 100 % 100 % Corvus Gold Nevada Inc. USA Exploration company 100 % 100 % SoN Land & Water LLC USA Exploration company 100 % 100 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	A reconciliation of income taxes at statutory rates with the reported taxes is as follows for the years ended May 31: 2015 2014 Loss before income taxes $ (10,577,487) $ (11,664,974) Statutory Canadian corporate tax rate 26.00 % 26.00 % Income tax recovery at statutory rates $ (2,750,147) $ (3,032,894) Stock-based compensation 386,281 480,030 Non-deductible items - - Effect of tax rate change 775,666 - Difference in tax rates in other jurisdictions (647,273) (582,381) Tax benefits not realized 2,235,473 3,135,245 Income tax recovery $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The significant components of the Company’s deferred income tax assets and liabilities are as follows: 2015 2014 Deferred income tax assets (liabilities) Mineral properties $ 13,942,000 $ 10,845,000 Property and equipment 19,000 14,000 Marketable securities - 11,000 Share issuance costs 56,000 48,000 Non-capital losses available for future periods 5,316,000 3,983,000 19,333,000 14,901,000 Valuation allowance (19,333,000) (14,901,000) Net deferred tax assets $ - $ -
Summary of Tax Credit Carryforwards [Table Text Block]	Canada United States 2029 $ - $ 1,189,000 2030 - 2,000 2031 379,000 177,000 2032 1,089,000 1,514,000 2033 1,443,000 1,997,000 2034 1,733,000 3,892,000 2035 1,806,000 1,933,000 $ 6,450,000 $ 10,704,000

NATURE AND CONTINUANCE OF OPE32

NATURE AND CONTINUANCE OF OPERATIONS (Details Textual) - USD ($)	May. 31, 2015	May. 31, 2014
Working Capital	$ 4,716,940	$ 2,986,574

SIGNIFICANT ACCOUNTING POLICI33

SIGNIFICANT ACCOUNTING POLICIES (Details Textual)	12 Months Ended
	May. 31, 2015USD ($)shares	May. 31, 2014USD ($)shares	May. 31, 2015CAD	May. 31, 2014CAD
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,396,334	6,175,234
Asset Retirement Obligations, Noncurrent	$ 107,000	$ 0	CAD 132,579	CAD 0
Computer Equipment [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property, Plant and Equipment, Depreciation Methods	30% declining balance
Vehicles [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property, Plant and Equipment, Depreciation Methods	30% declining balance
Tent [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property, Plant and Equipment, Depreciation Methods	20% declining balance

FAIR VALUE OF FINANCIAL INSTR34

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Fair Value, Inputs, Level 1 [Member] - CAD	May. 31, 2015	May. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	CAD 5,159,962	CAD 3,227,970
Marketable securities		CAD 147,451

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Textual)	12 Months Ended
	May. 31, 2015CADshares	May. 31, 2014USD ($)	May. 31, 2014CADshares	May. 31, 2015$ / shares	Feb. 27, 2015$ / shares
Marketable Securities [Abstract]
Shares of Unrelated Third Party, Held-for-trading | shares	0		200,000
Marketable Securities, Current	CAD 0		CAD 147,451
Sale of Stock, Number of Shares Issued in Transaction | shares	200,000
Sale of Stock, Price Per Share | $ / shares				$ 0.14529	$ 1
Proceeds from Sale and Maturity of Marketable Securities	CAD 35,723	$ 29,058	0
Marketable Securities, Realized Gain (Loss)	CAD (125,166)		CAD 0

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Property, Plant and Equipment [Line Items]
Cost, Balance	CAD 166,905	CAD 106,380
Additions	13,822	56,404
Currency translation adjustments	25,247	4,121
Cost, Balance	205,974	166,905
Depreciation, Balance	69,458	41,738
Depreciation for the period	28,191	25,657
Currency translation adjustments	11,622	2,063
Depreciation, Balance	109,271	69,458
Carrying amounts, Balance	97,447
Carrying amounts, Balance	96,703	97,447
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost, Balance	38,733	35,652
Additions	13,822	1,706
Currency translation adjustments	6,391	1,375
Cost, Balance	58,946	38,733
Depreciation, Balance	21,978	14,593
Depreciation for the period	7,497	6,713
Currency translation adjustments	3,160	672
Depreciation, Balance	32,635	21,978
Carrying amounts, Balance	16,755
Carrying amounts, Balance	26,311	16,755
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost, Balance	73,962	70,728
Additions	0	0
Currency translation adjustments	10,881	3,234
Cost, Balance	84,843	73,962
Depreciation, Balance	42,058	27,145
Depreciation for the period	10,247	13,446
Currency translation adjustments	6,918	1,467
Depreciation, Balance	59,223	42,058
Carrying amounts, Balance	31,904
Carrying amounts, Balance	25,620	31,904
Tent [Member]
Property, Plant and Equipment [Line Items]
Cost, Balance	54,210	0
Additions	0	54,698
Currency translation adjustments	7,975	(488)
Cost, Balance	62,185	54,210
Depreciation, Balance	5,422	0
Depreciation for the period	10,447	5,498
Currency translation adjustments	1,544	(76)
Depreciation, Balance	17,413	5,422
Carrying amounts, Balance	48,788
Carrying amounts, Balance	CAD 44,772	CAD 48,788

RECLAMATION BONDS (Details Text

RECLAMATION BONDS (Details Textual)	May. 31, 2015USD ($)	May. 31, 2015CAD	May. 31, 2014USD ($)	May. 31, 2014CAD
RECLAMATION BOND [Line Items]
Reclamation Bond	$ 0	CAD 0	$ 481,767	CAD 522,332

MINERAL PROPERTIES (Details)

MINERAL PROPERTIES (Details) - CAD	1 Months Ended	12 Months Ended
	Apr. 08, 2015	May. 31, 2015	May. 31, 2014
Beggining Balance		CAD 4,045,115	CAD 3,443,964
Acquisition costs
Cash payments		CAD 32,508	CAD 1,135,989
Gain from disposition (note 8d)			1,840,480
Proceeds on sale of capitalized acquisition costs			(2,152,276)
Write-off of capitalized acquisition costs			(395,485)
Shares issued (note 8e)(ii)(1)	CAD 64,600	64,600
Asset retirement obligations		132,579
Currency translation adjustments		591,832	172,443
Ending Balance		4,866,634	4,045,115
West Pogo [Member]
Beggining Balance		CAD 0	CAD 370,271
Acquisition costs
Cash payments		CAD 0	CAD 0
Gain from disposition (note 8d)			0
Proceeds on sale of capitalized acquisition costs			0
Write-off of capitalized acquisition costs			(395,485)
Shares issued (note 8e)(ii)(1)		0
Asset retirement obligations		0
Currency translation adjustments		0	25,214
Ending Balance		0	0
Chisna [Member]
Beggining Balance		CAD 550,255	CAD 526,199
Acquisition costs
Cash payments		CAD 0	CAD 0
Gain from disposition (note 8d)			0
Proceeds on sale of capitalized acquisition costs			0
Write-off of capitalized acquisition costs			0
Shares issued (note 8e)(ii)(1)		0
Asset retirement obligations		0
Currency translation adjustments		80,950	24,056
Ending Balance		631,205	550,255
North Bullfrog [Member]
Beggining Balance		CAD 3,168,810	CAD 1,923,902
Acquisition costs
Cash payments		CAD 32,508	CAD 1,135,989
Gain from disposition (note 8d)			0
Proceeds on sale of capitalized acquisition costs			0
Write-off of capitalized acquisition costs			0
Shares issued (note 8e)(ii)(1)		64,600
Asset retirement obligations		132,579
Currency translation adjustments		462,915	108,919
Ending Balance		3,861,412	3,168,810
LMS Property [Member]
Beggining Balance		CAD 326,050	CAD 311,796
Acquisition costs
Cash payments		CAD 0	CAD 0
Gain from disposition (note 8d)			0
Proceeds on sale of capitalized acquisition costs			0
Write-off of capitalized acquisition costs			0
Shares issued (note 8e)(ii)(1)		0
Asset retirement obligations		0
Currency translation adjustments		47,967	14,254
Ending Balance		374,017	326,050
Terra [Member]
Beggining Balance		CAD 0	CAD 311,796
Acquisition costs
Cash payments		CAD 0	CAD 0
Gain from disposition (note 8d)			1,840,480
Proceeds on sale of capitalized acquisition costs			(2,152,276)
Write-off of capitalized acquisition costs			0
Shares issued (note 8e)(ii)(1)		0
Asset retirement obligations		0
Currency translation adjustments		0	0
Ending Balance		CAD 0	CAD 0

MINERAL PROPERTIES (Details 1)

MINERAL PROPERTIES (Details 1) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Costs Incurred for Exploration and Evaluation Activities, Gross	CAD 5,640,920
Cost recovery		CAD (95,957)
Costs Incurred for Exploration and Evaluation Activities, Net		8,151,179
West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	17,251
Cost recovery		0
Costs Incurred for Exploration and Evaluation Activities, Net		3,371
Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	119,901
Cost recovery		0
Costs Incurred for Exploration and Evaluation Activities, Net		278,529
North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	5,443,948
Cost recovery		0
Costs Incurred for Exploration and Evaluation Activities, Net		7,784,067
LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	59,820
Cost recovery		0
Costs Incurred for Exploration and Evaluation Activities, Net		36,104
Terra [Member]
Cost recovery		(95,957)
Costs Incurred for Exploration and Evaluation Activities, Net		46,260
Gerfaut [Member]
Cost recovery		0
Costs Incurred for Exploration and Evaluation Activities, Net		2,848
Aircraft Services [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	11,202	1,778
Aircraft Services [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Aircraft Services [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	11,202	0
Aircraft Services [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Aircraft Services [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Aircraft Services [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		1,778
Aircraft Services [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Assay [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	948,165	1,774,583
Assay [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Assay [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	12,926	0
Assay [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	935,239	1,774,143
Assay [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	440
Assay [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Assay [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Drilling [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,577,253	2,719,667
Drilling [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Drilling [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Drilling [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,577,253	2,719,667
Drilling [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Drilling [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Drilling [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Equipment rental [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	234,274	254,934
Equipment rental [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Equipment rental [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,466	0
Equipment rental [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	232,808	254,094
Equipment rental [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Equipment rental [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		840
Equipment rental [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Field Costs [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	329,157	350,292
Field Costs [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	2,027	0
Field Costs [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	9,218	13,572
Field Costs [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	317,575	333,334
Field Costs [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	337	561
Field Costs [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		8
Field Costs [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		2,817
Geological Geophysical [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,045,608	1,154,651
Geological Geophysical [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	4,201	0
Geological Geophysical [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,984	12,287
Geological Geophysical [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,009,824	1,097,613
Geological Geophysical [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	29,599	12,647
Geological Geophysical [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		32,073
Geological Geophysical [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		31
Land Maintenance Tenure [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	380,080	663,670
Land Maintenance Tenure [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	11,023	3,371
Land Maintenance Tenure [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	77,972	242,543
Land Maintenance Tenure [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	263,754	301,320
Land Maintenance Tenure [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	27,331	20,701
Land Maintenance Tenure [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		95,735
Land Maintenance Tenure [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Permits [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,700	7,256
Permits [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Permits [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Permits [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,700	7,256
Permits [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Permits [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Permits [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Professional Fees [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		7,341
Professional Fees [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Professional Fees [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Professional Fees [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Professional Fees [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Professional Fees [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		7,341
Professional Fees [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Studies [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	920,301	1,066,969
Studies [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Studies [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Studies [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	920,301	1,066,969
Studies [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Studies [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Studies [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Transportation [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,130	3,281
Transportation [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Transportation [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	1,526
Transportation [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Transportation [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	1,130	1,755
Transportation [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Transportation [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Travel [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	192,050	242,714
Travel [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	0	0
Travel [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	5,133	8,601
Travel [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	185,494	229,671
Travel [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross	CAD 1,423	0
Travel [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		4,442
Travel [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		0
Others [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		8,247,136
Others [Member] | West Pogo [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		3,371
Others [Member] | Chisna [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		278,529
Others [Member] | North Bullfrog [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		7,784,067
Others [Member] | LMS Property [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		36,104
Others [Member] | Terra [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		142,217
Others [Member] | Gerfaut [Member]
Costs Incurred for Exploration and Evaluation Activities, Gross		CAD 2,848

MINERAL PROPERTIES (Details Tex

MINERAL PROPERTIES (Details Textual) lb in Millions	Nov. 07, 2014USD ($)shares	Dec. 02, 2010shares	Dec. 01, 2010shares	May. 08, 2006USD ($)	Mar. 31, 2015USD ($)	Mar. 30, 2015	Dec. 31, 2013USD ($)a	Dec. 31, 2013CADa	Nov. 25, 2013CADshares	Mar. 28, 2013USD ($)lb$ / T	Oct. 25, 2012CADshares	Mar. 01, 2011USD ($)	Mar. 24, 2010USD ($)haft²	Oct. 27, 2008USD ($)	Jun. 16, 2006USD ($)	May. 22, 2006USD ($)	May. 16, 2006USD ($)	May. 31, 2015USD ($)shares	May. 31, 2015CADshares	May. 31, 2014USD ($)shares	May. 31, 2014CADshares	May. 31, 2013USD ($)shares	May. 31, 2013CADshares	May. 31, 2012shares	May. 31, 2011shares	May. 31, 2014USD ($)shares	May. 31, 2015CAD	Nov. 17, 2014USD ($)	May. 31, 2014CAD	Nov. 13, 2013USD ($)	May. 31, 2013CAD	Oct. 31, 2012USD ($)	Nov. 10, 2010USD ($)	Dec. 01, 2007USD ($)
Royalty Percentage														1.00%
Lease Payments Common Shares Issued | shares		46,250
Cash																		$ 775,000
Acquisition Costs, Period Cost | CAD
Period Of Cash Asset																		5 years	5 years
Payments to Acquire Mineral Rights | CAD																			CAD 32,508		CAD 1,135,989
Asset Retirement Obligations, Noncurrent																		$ 107,000		$ 0						$ 0	CAD 132,579		CAD 0
Corvus Nevada [Member]
Mining Lease Agreement Term Of Contract												10 years
Purchase Obligation	$ 21,200											$ 1,000,000
Royalty Expense												$ 2,000,000
Capital Lease Obligations									CAD 35,871		CAD 126,924																	$ 10,000		$ 10,000		$ 10,000	$ 108,750
Lease Payments Common Shares Issued | shares																				25,000	25,000	25,000	25,000	25,000	10,000	85,000
Other Commitment																																		$ 100,000
Purchase Agreement Payable										$ 160,000
Cash | CAD																															CAD 157,408
Notes Payable																						$ 240,000									CAD 248,832
Debt Instrument, Interest Rate, Effective Percentage										4.77%
Acquisition Costs, Period Cost																						$ 400,000	CAD 406,240
Price Per Ton of Overburden to be Stored on the Property | $ / T										0.02
Minimum Storage Capacity of the Property | lb										12
Artist Advances and Royalty Guarantees, Commitments						The lease includes a 4% NSR royalty on production, with an option to purchase the royalty for USD 500,000 per 1% or USD 2,000,000 for the entire 4% royalty. The lease also includes the option to purchase the property for USD 300,000.
Corvus Nevada [Member] | Royalty Of Two Percentage [Member]
Production Royalty Per Ounce																		$ 400
Royalty Percentage												2.00%						2.00%									2.00%
Corvus Nevada [Member] | Royalty Of Three Percentage [Member]
Royalty Percentage																		3.00%									3.00%
Corvus Nevada [Member] | Royalty Of Four Percentage [Member]
Production Royalty Per Ounce																		$ 500
Royalty Percentage																		0.00%									0.00%
Corvus Nevada [Member] | Royalty Of One Percentage [Member]
Royalty Percentage												1.00%
Corvus Nevada [Member] | Fifth Through Ninth Year Lease [Member]
Lease Payments Common Shares Authorized | shares																		50,000	50,000
Corvus Nevada [Member] | Fourth Through Sixth Year Lease [Member]
Other Commitment																		$ 200,000
Corvus Nevada [Member] | Seventh Through Tenth Year Lease [Member]
Other Commitment																		300,000
Corvus Nevada [Member] | First Through Third Year Lease [Member]
Other Commitment																		100,000
Raven Gold [Member] | Subsequent Event [Member]
Proceeds From Sale Of Mineral Properties																		$ 120,000
Redstar Gold Corp [Member]
Purchase Obligation														$ 1,000,000
Lunar Landing, LLC [Member]
Lease Term					3 years
Additional Lease Term					7 years
Advance Royalties					$ 5,000
Ahtna Agreement [Member] | Raven Gold [Member]
Land Subject to Ground Leases | ha													26,516
Land Release Percentage													50.00%
Scholarship Contributions to Foundation													$ 10,000
Exploration Expense, Mining													$ 1,000,000
Process Of Drilling | ft²													2,500
Royalty Other Than Production													50.00%
Profit Sharing Percentage													20.00%
Working Interest Rate Acquired													200.00%
Ahtna Agreement [Member] | Raven Gold [Member] | Base Metal [Member]
Royalty Percentage													2.50%
Ahtna Agreement [Member] | Raven Gold [Member] | Other Minerals [Member]
Royalty Percentage													3.00%
Ahtna Agreement [Member] | Raven Gold [Member] | Non Ahtna Minerals [Member]
Profit Sharing Percentage													10.00%
International Tower Hill Mines [Member]
Lease Payments Common Shares Issued | shares	50,000
International Tower Hill Mines [Member] | Corvus Nevada [Member]
Lease Payments Common Shares Issued | shares									50,000		50,000							25,000	25,000
Common Stock Issued During Period, Value, Issued for Lease Payments																		$ 5,000
Lease Payments Additional Common Shares Issued | shares			20,000															20,000	20,000
Lease Payments Additional Common Value Issued																		$ 5,000
Chisna [Member]
Unpatented Mineral Claims																		100.00%	100.00%
Acquisition Costs, Period Cost | CAD
Payments to Acquire Mineral Rights | CAD																			CAD 0		CAD 0
North Bullfrog [Member]
Unpatented Mineral Claims																		100.00%	100.00%
Land Subject to Ground Leases | a							1,600	1,600
Royalty Percentage				1.00%													1.00%
Mining Lease Agreement Term Of Contract				10 years											10 years	10 years	10 years
Purchase Obligation				$ 1,000,000											$ 1,000,000	$ 1,000,000	$ 1,000,000
Royalty Expense				$ 2,000,000											$ 2,000,000	$ 2,000,000	$ 4,000,000
Acquisition Costs, Period Cost | CAD
Payments to Acquire Mineral Rights | CAD																			CAD 32,508		CAD 1,135,989
North Bullfrog [Member] | Nevada Corporation [Member]
Royalty Percentage				1.00%
Purchase Obligation				$ 850,000
Royalty Expense				$ 2,550,000
West Pogo [Member]
Unpatented Mineral Claims																		100.00%	100.00%
Acquisition Costs, Period Cost | CAD
Payments to Acquire Mineral Rights | CAD																			CAD 0		CAD 0
West Pogo [Member] | Royalty Of Three Percentage [Member]
Royalty Percentage																		3.00%									3.00%
West Pogo [Member] | Royalty Of One Percentage [Member]
Royalty Percentage																		1.00%									1.00%
West Pogo [Member] | Royalty Of Other One Percentage [Member]
Royalty Percentage																		1.00%									1.00%
West Pogo [Member] | Royalty Of Additional One Percentage [Member]
Royalty Percentage																		1.00%									1.00%
Payments to Acquire Mineral Rights																		$ 5,000,000
LMS Property [Member]
Unpatented Mineral Claims																		100.00%	100.00%
Acquisition Costs, Period Cost | CAD
Payments to Acquire Mineral Rights | CAD																			CAD 0		CAD 0
Terra Property [Member]
Gain (Loss) on Disposition of Stock in Subsidiary																				$ 1,840,480
Land and Water Rights [Member]
Payments to Acquire Mineral Rights							$ 1,034,626	CAD 1,100,118
Maximum [Member] | Corvus Nevada [Member] | Royalty Of Three Percentage [Member]
Production Royalty Per Ounce																		$ 500
Maximum [Member] | Ahtna Agreement [Member] | Raven Gold [Member]
Annual Option Payment Price Per Acre													$ 1.25
Exploration Expenditure Price Per Acre													9
Royalties Paid In Advance													12
Production Royalty Per Ounce													$ 1,900
Royalty Percentage													14.00%
Working Interest Rate Acquired													15.00%
Maximum [Member] | Chisna [Member] | Ahtna Agreement [Member] | Raven Gold [Member]
Exploration Expenditure Price Per Acre													$ 8
Minimum [Member] | Corvus Nevada [Member] | Royalty Of Three Percentage [Member]
Production Royalty Per Ounce																		401
Minimum [Member] | Ahtna Agreement [Member] | Raven Gold [Member]
Annual Option Payment Price Per Acre													1
Exploration Expenditure Price Per Acre													4
Royalties Paid In Advance													6
Production Royalty Per Ounce													$ 550
Royalty Percentage													2.50%
Working Interest Rate Acquired													10.00%
Minimum [Member] | Chisna [Member] | Ahtna Agreement [Member] | Raven Gold [Member]
Exploration Expenditure Price Per Acre													$ 4
NSR [Member]
Royalty Percentage														4.00%
Payments to Acquire Mineral Rights																		$ 4,000,000
NSR [Member] | Royalty Of Two Percentage [Member]
Royalty Percentage																2.00%
NSR [Member] | Royalty Of Three Percentage [Member]
Royalty Percentage																		3.00%									3.00%
NSR [Member] | Royalty Of One Percentage [Member]
Royalty Percentage																1.00%		1.00%									1.00%
NSR [Member] | Royalty Of Other One Percentage [Member]
Royalty Percentage																		1.00%									1.00%
NSR [Member] | Nevada Corporation [Member]
Royalty Percentage				3.00%
NSR [Member] | North Bullfrog [Member]
Royalty Percentage																	4.00%
NSR [Member] | North Bullfrog [Member] | Royalty Of Two Percentage [Member]
Royalty Percentage															2.00%
NSR [Member] | North Bullfrog [Member] | Royalty Of One Percentage [Member]
Royalty Percentage															1.00%
Royalty Agreements [Member]
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year														$ 10,800
Capital Leases, Future Minimum Payments Due in Three Years														10,800
Capital Leases, Future Minimum Payments Due Thereafter														16,200
Purchase Obligation														1,250,000
Royalty Expense														$ 5,000,000
Royalty Agreements [Member] | Corvus Nevada [Member]
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year												$ 20,000
Capital Leases, Future Minimum Payments Due in Three Years												25,000
Capital Leases, Future Minimum Payments Due Thereafter												$ 30,000
Royalty Agreements [Member] | North Bullfrog [Member]
Royalty Percentage				2.00%
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year				$ 4,000											$ 2,000	$ 8,000	$ 20,500	$ 2,400
Capital Leases, Future Minimum Payments Due, Next Twelve Months																		2,400
Capital Leases, Future Minimum Payments Due in Two Years																		2,400
Capital Leases, Future Minimum Payments Due in Three Years				3,500											2,000	4,800	$ 20,000	2,400
Capital Leases, Future Minimum Payments Due Thereafter				4,500											$ 3,000	$ 7,200		$ 3,600
Royalty Agreements [Member] | North Bullfrog [Member] | Nevada Corporation [Member]
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year				2,000
Capital Leases, Future Minimum Payments Due in Two Years				2,000
Capital Leases, Future Minimum Payments Due in Three Years				3,000
Capital Leases, Future Minimum Payments Due Thereafter				$ 3,000
Good Paster Database [Member] | West Pogo [Member] | Royalty Of One Percentage [Member]
Royalty Percentage																		1.00%									1.00%
Good Paster Database [Member] | West Pogo [Member] | Royalty Of One Percentage [Member] | Subsequent Event [Member]
Payments to Acquire Mineral Rights																		$ 2,000,000

PROMISSORY NOTE PAYABLE (Detail

PROMISSORY NOTE PAYABLE (Details Textual)	May. 31, 2015CAD	May. 31, 2014CAD	Mar. 28, 2013USD ($)
Debt Instrument [Line Items]
Notes Payable, Noncurrent	CAD 0	CAD 260,208
Promissory Note Payable [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	CAD 298,488	CAD 260,208	$ 240,000
Debt Instrument, Interest Rate, Stated Percentage			4.77%

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) - Employee Stock Option [Member] - CAD / shares	12 Months Ended
	May. 31, 2015	May. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Balance, beginning of the period	6,175,234	4,075,234
Number of Options, Granted	1,575,000	2,470,000
Number of Options, Exercised	(18,900)	(70,000)
Number of Options, Forfeited	0	(300,000)
Number of Options, Expired	(335,000)	0
Number of Options, Balnce, end of the period	7,396,334	6,175,234
Weighted Average Exercise Price, Balance, beginning of the period	CAD 0.84	CAD 0.88
Weighted Average Exercise Price, Granted	1.34	0.76
Weighted Average Exercise Price, Exercised	(0.50)	(0.69)
Weighted Average Exercise Price, Forfeited	0	(0.81)
Weighted Average Exercise Price, Expired	(1)	0
Weighted Average Exercise Price, Balance, end of the period	CAD 0.94	CAD 0.84

SHARE CAPITAL (Details 1)

SHARE CAPITAL (Details 1) - Employee Stock Option [Member] - CAD / shares	May. 31, 2015	May. 31, 2014	May. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.94	CAD 0.84	CAD 0.88
Number of Options	7,396,334	6,175,234	4,075,234
Exercisable at Period- End	5,627,599	3,594,214
September 27, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0	CAD 1.08
Number of Options	0	150,000
Exercisable at Period- End	0	150,000
July 29, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.50	CAD 0.50
Number of Options	464,434	483,334
Exercisable at Period- End	464,434	483,334
November 17, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.67	CAD 0.67
Number of Options	210,000	210,000
Exercisable at Period- End	210,000	210,000
January 23,2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 1.10	CAD 0
Number of Options	50,000	0
Exercisable at Period- End	25,000	0
May 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.73	CAD 0
Number of Options	50,000	0
Exercisable at Period- End	25,000	0
May 29, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.92	CAD 0.92
Number of Options	300,000	300,000
Exercisable at Period- End	300,000	300,000
September 19,2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.96	CAD 0.96
Number of Options	2,436,900	2,561,900
Exercisable at Period- End	2,436,900	1,628,370
October 29, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.96	CAD 0
Number of Options	100,000	0
Exercisable at Period- End	100,000	0
August 16, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 0.76	CAD 0.76
Number of Options	2,420,000	2,470,000
Exercisable at Period- End	1,611,720	822,510
September 8, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price	CAD 1.40	CAD 0
Number of Options	1,365,000	0
Exercisable at Period- End	454,545	0

SHARE CAPITAL (Details 2)

SHARE CAPITAL (Details 2) - CAD / shares	12 Months Ended
	May. 31, 2015	May. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.50%	1.96%
Expected life of options	4 years 7 months 13 days	5 years
Annualized volatility	69.21%	100.00%
Dividend yield	0.00%	0.00%
Exercise price	CAD 1.34	CAD 0.76
Fair value per share	CAD 0.70	CAD 0.59

SHARE CAPITAL (Details 3)

SHARE CAPITAL (Details 3) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	CAD 1,485,695	CAD 1,846,269
Consulting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	570,913	464,638
Exploration expenditures - Geological/geophysical [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	36,820	63,670
Investor relations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	208,336	371,459
Professional Fees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	48,841	69,761
Wages and benefits [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	CAD 620,785	CAD 876,741

SHARE CAPITAL (Details Textual)

SHARE CAPITAL (Details Textual)	1 Months Ended				12 Months Ended
	Apr. 08, 2015CADshares	Feb. 27, 2015CADshares	Aug. 27, 2014CADshares	Nov. 25, 2013CADshares	May. 31, 2015CADshares	May. 31, 2014CADshares	May. 31, 2015$ / shares	Feb. 27, 2015$ / shares	Aug. 27, 2014$ / shares	Nov. 25, 2013$ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock Issued During Period, Shares, New Issues | shares		4,500,000		420,000
Sale of Stock, Price Per Share | $ / shares							$ 0.14529	$ 1
Proceeds from Issuance of Private Placement		CAD 4,500,000
Payments of Stock Issuance Costs		CAD 17,810		CAD 19,312	CAD 207,977	CAD 40,312
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term					2 years 10 months 6 days	3 years 5 months 16 days
Share Based Compensation Arrangement by Share Based Payment Award Options Grant in Period, Fair Value					CAD 1,109,011	CAD 1,449,654
Stock Issued During Period, Value, Stock Options Exercised					9,450	CAD 48,300
Percentage of Fee Equal to New Issue				5.00%
Stock Issued During Period, Shares, Acquisitions | shares	85,000
Stock Issued During Period, Value, Acquisitions	CAD 64,600				64,600
Stock Issued During Period, Value, New Issues				CAD 21,000	CAD 6,180,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock Issued During Period, Shares, Other | shares					18,900	70,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares					18,900	70,000
Stock Issued During Period, Value, Stock Options Exercised					CAD 9,450	CAD 48,300
Private Placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock Issued During Period, Shares, New Issues | shares			5,150,000	5,230,000
Sale of Stock, Price Per Share | $ / shares									$ 1.20	$ 1
Proceeds from Issuance of Private Placement			CAD 6,180,000	CAD 5,230,000
Payments of Stock Issuance Costs			CAD 190,167

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Related Party Transaction [Line Items]
Consulting fees	CAD 827,163	CAD 686,662
Professional fees	505,239	486,774
Management compensation	2,574,731	2,797,496
Related Party Transaction [Member]
Related Party Transaction [Line Items]
Stock-based compensation to related parties	1,247,408	1,590,465
Chief Financial Officer [Member] | Related Party Transaction [Member]
Related Party Transaction [Line Items]
Consulting fees	97,000	97,000
Chief Executive Officer [Member] | Related Party Transaction [Member]
Related Party Transaction [Line Items]
Wages and benefits	901,893	752,850
Director [Member] | Related Party Transaction [Member]
Related Party Transaction [Line Items]
Directors fees (included in consulting fees)	122,750	99,774
Vice President [Member] | Related Party Transaction [Member]
Related Party Transaction [Line Items]
Fees to Vice President of Corporate Communications (included in investor relations)	180,000	172,500
Professional fees	CAD 25,680	CAD 84,907

RELATED PARTY TRANSACTIONS (D48

RELATED PARTY TRANSACTIONS (Details Textual) - CAD	1 Months Ended
	Jun. 01, 2011	May. 31, 2015	May. 31, 2014
Related Party Transaction [Line Items]
Accounts Payable and Accrued Liabilities		CAD 9,880	CAD 27,462
Legal Fees	CAD 72,000
Due to Other Related Parties, Classified, Current		CAD 73,830

GEOGRAPHIC SEGMENTED INFORMAT49

GEOGRAPHIC SEGMENTED INFORMATION (Details) - CAD	May. 31, 2015	May. 31, 2014	May. 31, 2013
Segment Reporting Information [Line Items]
Capitalized acquisition costs	CAD 4,866,634	CAD 4,045,115	CAD 3,443,964
Property and equipment	96,703	97,447
CANADA
Segment Reporting Information [Line Items]
Capitalized acquisition costs	0	0
Property and equipment	2,840	4,057
UNITED STATES
Segment Reporting Information [Line Items]
Capitalized acquisition costs	4,866,634	4,045,115
Property and equipment	CAD 93,863	CAD 93,390

GEOGRAPHIC SEGMENTED INFORMAT50

GEOGRAPHIC SEGMENTED INFORMATION (Details 1) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Segment Reporting Information [Line Items]
Net loss for the year	CAD (10,577,487)	CAD (11,664,974)
UNITED STATES
Segment Reporting Information [Line Items]
Net loss for the year	(7,450,622)	(8,204,197)
CANADA
Segment Reporting Information [Line Items]
Net loss for the year	CAD (3,126,865)	CAD (3,460,777)

SUPPLEMENTAL CASH FLOW INFORM51

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Supplemental cash flow information
Interest paid (received)	CAD (11,661)	CAD 0
Income taxes paid	0	0
Non-cash financing and investing transactions
Shares issued to acquire mineral properties	64,600	0
Change in asset retirement obligations included in capitalized acquisition costs	132,579	0
Reclassification of contributed surplus on exercise of stock options	CAD 7,376	CAD 23,366

SUBSIDIARIES (Details)

SUBSIDIARIES (Details)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Corvus Gold (USA) Inc [Member]
Subsidiary or Equity Method Investee [Line Items]
Country of Incorporation	USA
Principal Activity	Holding company
Effective interest	100.00%	100.00%
Raven Gold Alaska Inc [Member]
Subsidiary or Equity Method Investee [Line Items]
Country of Incorporation	USA
Principal Activity	Exploration company
Effective interest	100.00%	100.00%
Corvus Gold Nevada Inc [Member]
Subsidiary or Equity Method Investee [Line Items]
Country of Incorporation	USA
Principal Activity	Exploration company
Effective interest	100.00%	100.00%
SoN Land & Water LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Country of Incorporation	USA
Principal Activity	Exploration company
Effective interest	100.00%	100.00%

INCOME TAXES (Details)

INCOME TAXES (Details) - CAD	12 Months Ended
	May. 31, 2015	May. 31, 2014
Loss before income taxes	CAD (10,577,487)	CAD (11,664,974)
Statutory Canadian corporate tax rate	26.00%	26.00%
Income tax recovery at statutory rates	CAD (2,750,147)	CAD (3,032,894)
Stock-based compensation	386,281	480,030
Non-deductible items	0	0
Effect of tax rate change	775,666	0
Difference in tax rates in other jurisdictions	(647,273)	(582,381)
Tax benefits not realized	2,235,473	3,135,245
Income tax recovery	CAD 0	CAD 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - CAD	May. 31, 2015	May. 31, 2014
Deferred income tax assets (liabilities)
Mineral properties	CAD 13,942,000	CAD 10,845,000
Property and equipment	19,000	14,000
Marketable securities	0	11,000
Share issuance costs	56,000	48,000
Non-capital losses available for future periods	5,316,000	3,983,000
Deferred Tax Assets, Gross	19,333,000	14,901,000
Valuation allowance	(19,333,000)	(14,901,000)
Net deferred tax assets	CAD 0	CAD 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - May. 31, 2015 - CAD	Total
Tax Year 2029 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2029
Tax Year 2030 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2030
Tax Year 2031 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2031
Tax Year 2032 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2032
Tax Year 2033 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2033
Tax Year 2034 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2034
Tax Year 2035 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2035
CANADA
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	CAD 6,450,000
CANADA | Tax Year 2029 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	0
CANADA | Tax Year 2030 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	0
CANADA | Tax Year 2031 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	379,000
CANADA | Tax Year 2032 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,089,000
CANADA | Tax Year 2033 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,443,000
CANADA | Tax Year 2034 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,733,000
CANADA | Tax Year 2035 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,806,000
UNITED STATES
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	10,704,000
UNITED STATES | Tax Year 2029 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,189,000
UNITED STATES | Tax Year 2030 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	2,000
UNITED STATES | Tax Year 2031 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	177,000
UNITED STATES | Tax Year 2032 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,514,000
UNITED STATES | Tax Year 2033 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	1,997,000
UNITED STATES | Tax Year 2034 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	3,892,000
UNITED STATES | Tax Year 2035 [Member]
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount	CAD 1,933,000

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - 12 months ended May. 31, 2015	USD ($)	CAD
UNITED STATES
Exploration Expense, Mining	$ 10,704,000	CAD 45,578,000
CANADA
Exploration Expense, Mining	$ 6,450,000	CAD 333,000

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Subsequent Event [Member] - USD ($)	1 Months Ended
	Jul. 31, 2015	Jul. 29, 2015
Proceeds from Divestiture of Businesses		$ 120,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 0.96
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Sep. 19, 2017