SOURCE: Gold Canyon Resources Inc.

September 26, 2005 19:30 ET

Gold Canyon Announces Closing of Private Placement of $50,000 U.S.

VANCOUVER, BC -- (MARKET WIRE) -- September 26, 2005 -- Gold Canyon Resources Inc. (TSX-V: GCU) ("Gold Canyon" or "the Company") is pleased to announce that it has closed the private placement of 100,000 common share units (the "Units") at a subscription price of (US)$0.50 per Unit for gross proceeds of (US)$50,000 originally announced on September 19, 2005. Each Unit consists of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant, each whole warrant entitling the holder to acquire one additional common share at a price of (US)$0.60 per share until March 20, 2007. A finders' fee equal to 8% of the gross proceeds of the private placement is payable in cash to Shields & Co. of New York, New York.

All securities will be subject to a four-month hold period expiring on January 27, 2006 in accordance with applicable Canadian securities law and the policies of the TSX Venture Exchange. The securities have not been registered under the United States Securities Act of 1933, as amended or the securities laws of any state of the United States and may not be sold, transferred or assigned in the absence of an effective registration statement for the securities under applicable securities laws, or an available exemption from the registration requirements of those laws.

The net proceeds of the offering will be used for general corporate purposes.

About Gold Canyon Resources Inc.:

Gold Canyon is engaging in the acquisition and exploration of mineral and precious metals properties and currently owns and operates the Springpole Gold Project in the Red Lake Mining District of Ontario, Canada and its Cordero Gallium Project in Humboldt County, Nevada, U.S.A. Additional information can be found on the Company's website:

Robert Carrington,
Chief Executive Officer & Director

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