NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES


Canyon Resources Inc. (TSX VENTURE:GCU) ("Gold Canyon" or "the Company") is
pleased to announce that hole SP11-077 has intersected 106 meters at 3.36 grams
per tonne gold (348 feet at 0.098 oz per ton gold) including 28 meters at 10.10
grams per tonne gold (92 feet at 0.295 oz per ton gold) at its 100% controlled
Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining
Camp, Ontario, Canada. This hole confirms that the Portage Zone exhibits a high
grade core on the 0+800 meter section. 


To view the map associated with this Press Release, please visit:
http://media3.marketwire.com/docs/gcu-1024-map1.pdf.




--  Diamond drill hole SP11-077 intersected 106 meters at 3.36 grams per
    tonne gold (348 feet at 0.098 oz per ton gold) including 28 meters at
    10.10 grams per tonne gold (92 feet at 0.295 oz per ton gold), one of
    the longest higher grade intersections yet drilled on the Portage Zone.
    This vertical infill hole tested the mid section of the Portage Zone on
    the 0+800 meter section. In addition to this high grade interval, SP11-
    077 also intersected 77 meters at 0.73 grams per tonne gold (253 feet at
    0.021 oz per ton gold) starting at the bedrock interface below the lake
    bottom demonstrating continuity of mineralization to surface. 
    
    
--  Diamond drill hole SP11-076 was drilled at an azimuth of 220 degrees
    true north and an inclination of -45 degrees on the 0+650 meter section.
    A 121 meter interval at 0.70 grams per tonne gold (397 feet at 0.02 oz
    per ton gold) was encountered beginning at just 28 meters down hole
    depth, or a true vertical depth of just 20 meters. This interval of
    mineralization effectively connects the Portage and East Extension Zones
    in the near-surface environment. 



"Hole SP11-077 gives our first indication that a higher grade core of the
Portage Zone is present near the northwest end of the porphyry body," states Dr.
Quinton Hennigh, technical advisor and Director of Gold Canyon. "We have seen
similar mineralization a few hundred meters further southeast, and we are
hopeful that as our infill program progresses, we will see continuity of this
higher grade core continue. We are also quite pleased that hole SP11-076
demonstrates near-surface mineralization between the Portage and East Extension
Zones. This adds a significant volume of mineralized rock to the overall
picture."




Summary of Results from Holes SP11-076 and -077                             
                                                                            
              From       To   Length              Gold  Length         Gold
Hole       (meters) (meters) (meters) (grams per tonne)  (feet) (oz per ton)
---------------------------------------------------------------------------
SP11-076      28.0    149.0    121.0              0.70     397        0.020
includes      68.0     71.0      3.0              9.89      10        0.289
             218.5    231.0     12.5              0.40      41        0.012
             251.5    264.0     12.5              0.47      41        0.014
             295.0    387.0     92.0              0.60     302        0.018
includes     345.0    348.0      3.0              5.20      10        0.152
                                                                           
SP11-077      10.0     87.0     77.0              0.73     253        0.021
             130.0    236.0    106.0              3.36     348        0.098
includes     152.0    180.0     28.0             10.10      92        0.295
includes     152.0    158.0      6.0             26.46      20        0.773
             291.0    296.0      5.0              0.42      16        0.012
             307.0    312.0      5.0              0.53      16        0.015
             334.5    342.0      7.5              0.34      25        0.010
---------------------------------------------------------------------------
                                                                            
Weighted averages were used to calculate all reported intervals             
                                                                            
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)  
lower cutoff Internal dilution within reported intervals does not exceed    
core lengths of 8 meters.                                                   
                                                                            
1 troy oz = 31.103 grams                                                    
                                                                            
Conversion factor - grams per tonne to troy oz per short ton; g/t divided by
34.2857 or g/t multiplied by 0.0292                                         
                                                                            
1 meter = 3.28 feet                                                         



Core was logged then split using diamond saws with one half sent for analyses
and the other half stored for future reference. Quality control programs include
the use of field and laboratory duplicates, standards, blanks, and internal and
external check assaying. Certified sample standards were submitted with the
normal sample stream. Gold and silver assays were completed by SGS Canada Inc.
in Red Lake and Toronto, Ontario using a 30 gram charge, fire assay, with an ICP
finish. For over limit assay results, initial assays in excess of 10.0 grams per
tonne Au, a gravimetric finish is utilized.


Operational Update

Two barge-based and two land-based drills are currently operating on site and
will continue through freeze-up, likely in early November. Approximately 12,000
meters of core have been drilled so far this summer, and it is expected that the
drills should produce around 14,000 meters of core, in excess of the 12,000
meters that was originally planned. Holes drilled this summer are expected to
allow the Company to revise the 43-101 compliant resource estimate for the
deposit sometime late in 2011.


About Springpole

Springpole is an alkaline intrusion hosting a gold system that represents a
potentially new style of Canadian Archean Shield gold deposit. The Portage zone
is hosted by a trachytic porphyry intrusion displaying polyphase autolithic
breccias that host gold mineralization. Other zones, including the East
Extension and Main, consist of high-grade veins and pods hosted in diatreme
breccias composed of intrusive and country rock fragments. These breccias
surround the northwest and northern margins of the Portage Zone. The known
mineralized zones underlie a total known area of about 4 square kilometers
representing only about 15 percent of the greater alkaline intrusive complex
which remains yet to be explored.


Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the Qualified
Persons pursuant to National Instrument 43-101 responsible for, and have
reviewed and approved, the technical information contained in this news release.
Dr. Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is
the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at
Springpole. 


About Gold Canyon Resources Inc.:

Gold Canyon is engaged in the acquisition and exploration of mineral and
precious metals properties. The Company controls a 100% interest in the
Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and
Favourable Lake Poly-metallic property currently under option to Guyana Frontier
Mining Corp. pursuant to an option and joint venture agreement entered into in
December 2005 - all in the Red Lake Mining District of Ontario, Canada. 


Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the
Company controls a 100% interest in the Cordero Gallium Project situated in
Humboldt County, Nevada, U.S.A.


Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas
and Metals National Corporation (JOGMEC) in January 2009.


Additional information can be found on the Company's website: www.goldcanyon.ca

Akiko Levinson, President & Director 

This news release contains statements that constitute "forward looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 or "forward looking information" within the
meaning of applicable Canadian provincial securities legislation (collectively,
"forward-looking statements"). Forward-looking statements often, but not always,
are identified by the use of words such as "seek", "anticipate", "believe",
"plan", "estimate", "expect", "targeting" and "intend" and statements that an
event or result "may", "will", "would", "should", "could", or "might" occur or
be achieved and other similar expressions. Forward-looking statements in this
news release include statements regarding the timing and nature of permitting
studies, the timing and nature of infrastructure developments and construction,
projections of future optimization, production timeline targets, the timing of
negotiations with third parties, and the timing and nature of future exploration
programs which are dependent on projections which may change as drilling
continues, or if unexpected ground conditions are encountered. In addition,
areas of exploration potential are identified which will require substantial
drilling to determine whether or not they contain similar mineralization to
areas which have been explored in more detail. The description of the extent of
mineralized zones is not intended to imply that any economically mineable
estimate of reserves or resources exists on any of Gold Canyon's projects.


The forward-looking statements that are contained in this news release are based
on various assumptions and estimates by Gold Canyon and involve a number of
risks and uncertainties. As a consequence, actual results might differ
materially from results forecast or suggested in these forward-looking
statements. Forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors that may cause the actual results,
performance or achievements of Gold Canyon to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Factors that could cause the actual results to
differ include; risks relating to fluctuations in the price of gold; the
inherently hazardous nature of mining-related activities; uncertainties
concerning resource estimates; results of exploration, availability of capital
and financing on acceptable terms, inability to obtain required regulatory
approvals, unanticipated difficulties or costs in any rehabilitation which may
be necessary, market conditions and general business, economic, competitive,
political and social conditions. These statements are based on a number of
assumptions, including assumptions regarding general market conditions, timing
and receipt of regulatory approvals, the ability of Gold Canyon and other
relevant parties to satisfy regulatory requirements, the availability of
financing for proposed transactions and programs on reasonable terms and the
ability of third-party service providers to deliver services in a timely manner.
Although Gold Canyon has attempted to identify important factors that could
cause actual results to differ materially from those expressed or implied in
forward-looking statements, there may be other factors which cause actual
results to differ. Forward-looking statements contained herein are made as of
the date of this news release and Gold Canyon disclaims any obligation to update
any forward-looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable securities
laws. There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.


Gold Canyon Resources Inc. (TSXV:GCU)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Gold Canyon Resources Inc..
Gold Canyon Resources Inc. (TSXV:GCU)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Gold Canyon Resources Inc..