Gold Canyon Resources Inc.
TSX VENTURE : GCU
PINK SHEETS : GDCRF

Gold Canyon Resources Inc.

October 04, 2007 16:03 ET

Gold Canyon Resources Inc.: Grant of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") announces that it has granted incentive stock options to certain directors, senior officers and consultants to purchase an aggregate of 591,000 common shares at an exercise price of $0.50 per share, representing the closing price of the Company's common shares on October 3, 2007 as reported on the TSX Venture Exchange (the "Exchange"), less an allowable discount. The options and shares issuable upon exercise, if any, will be subject to a four-month hold period from the date of grant in accordance with Exchange policy. The options expire on October 4, 2009. The grant was pursuant to the Company's Rolling Stock Option Plan, which was re-affirmed by the shareholders of the Company on April 26, 2007 and subsequently accepted by the Exchange.

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 the Bear Head Uranium Project which is adjacent to their Favourable Lake Poly-metallic property currently under option to Shoreham Resources Inc. 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.

Akiko Levinson, President & Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gold Canyon Resources Inc.
    Vic Weckerle
    Investor Relations
    (604) 682-3234 or Toll Free: 1-888-242-3234
    (604) 682-0537 (FAX)
    Email: vic@goldcanyon.ca
    Website: www.goldcanyon.ca