Canyon Gold Corp.

July 13, 2011 15:06 ET

Canyon Gold Corp. Enters Acquisition Agreement with Long Canyon Gold Resources Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2011) - CANYON GOLD CORP. (PINK SHEETS:CGCC) (The Company) is pleased to announce that it is acquiring 100% of the issued and outstanding stock of Long Canyon Gold Resources Corp. (LCGRC) a private company becoming a wholly owned subsidiary of Canyon Gold Corp. The closing date of the Acquisition Agreement is set for July 20, 2011.

Through its new subsidiary LCGRC, Canyon Gold Corp. will, upon closing of the acquisition, own and control a 100% interest in 30 Mineral Lease Claims being approximately 640 acres. In addition, subject to an option agreement, LCGRC may acquire at total of 275 Mineral Lease Claims or approximately 6,250 acres all of which are adjoining the 30 Claims.

The Company's Business:

The Company owns and controls certain Mineral Lease Claims in the extended Long Canyon Gold Trend area of the State of Nevada. The Company has engaged professional services and commissioned an initial report which will define the future exploration and development program for the claims.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives or expected results of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements.

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