The new genus and species Corveolepis elgae is described from the Lochkovian, Severnaya Zemlya formation of October Revolution Island, Severnaya Zemlya. It is ascribed to the family Corvaspididae whose diagnosis is corrected. Corvaspis arctica Loeffler and Dineley is designated as the type species of Corveolepis. Previously described taxa such as “Corvaspis kingi” auct. and Corvaspis graticulata Dineley from Spitsbergen are included with doubt in Corveolepis. Other new material includes Corveolepis? sp. cf. C.? graticulata from the Lochkovian, Pod'emnaya formation of October Revolution Island. This material is used as supporting evidence for a correlation of Lower Devonian vertebrate-bearing strata between Severnaya Zemlya and Spitsbergen.