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

Gold Canyon Resources Inc.

May 02, 2007 06:00 ET

Gold Canyon Announces Rare Metals and Rare Earth Elements at the Cordero Gallium Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 2, 2007) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce analytical results for selected rare metals and rare earth elements (REEs) from the Stage 1 delineation drilling at the Company's Cordero Gallium Project located in Humboldt County, Nevada, USA. Cordero is recognized as the largest known primary gallium occurrence in North America.

Analytical results from the 71 reverse circulation (RC) drill holes completed in the Stage 1 delineation drilling program show the gallium (Ga) mineralized zones at Cordero to be anomalous in the rare metals and rare earth elements (REEs), including scandium (Sc), yttrium (Y), cerium (Ce), neodymium (Nd), samarium (Sm), gadolinium (Gd), and lanthanum (La). These elements are valuable commodities used in the semi-conductor industry for many of the new "Green" technologies, including the manufacture of energy efficient lighting and high performance batteries for electric cars. Gold Canyon is evaluating the economic potential associated with recovering rare metals and REEs from the gallium zones at Cordero. A summary of select REEs and scandium values associated with gallium mineralization are shown in Table 1.

Current plans at Cordero include completing the final 10 RC drill holes of the Stage 1 fill-in drill program designed to increase the drill density between the Corderito and SW Extension areas. This program is scheduled to re-start in May 2007 pending drill rig availability.

This program is being conducted under the supervision of consulting geologist, Samuel Nunnemaker. Mr. Nunnemaker is a Registered Geologist and Qualified Person under the NI 43-101. All samples were analyzed through Inspectorate Laboratories of Reno, Nevada.



TABLE 1: Cordero results for Scandium and select REEs

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Inter- Wt Average (ppm/g)
Drill Interval cept -----------------------------------------------
Hole From To (ft) Ga Sc Y Ce Nd Sm Gd La
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C-086 170.0 195.0 25.0 173.6 15.4 66.3 387.5 129.9 24.3 23.6 245.1
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C-091 145.0 160.0 15.0 75.0 30.4 22.6 186.4 71.5 10.5 9.1 109.8
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C-093 135.0 165.0 30.0 79.5 21.8 11.7 227.7 94.0 14.5 10.7 109.0
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C-094 135.0 155.0 20.0 50.0 21.1 18.0 178.7 102.2 16.2 11.4 70.7
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C-094 85.0 120.0 35.0 105.6 27.1 19.8 230.2 82.0 11.0 9.9 125.4
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C-095 145.0 180.0 35.0 61.7 27.2 28.3 247.6 123.0 20.1 16.0 113.2
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C-096 130.0 150.0 20.0 66.5 16.9 17.4 155.7 69.8 10.8 8.3 77.4
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C-097 170.0 200.0 30.0 69.3 14.9 13.9 252.4 134.1 20.2 14.8 102.2
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C-098 75.0 130.0 55.0 78.8 15.8 16.9 215.0 58.5 6.4 7.8 131.6
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C-099 55.0 125.0 70.0 147.2 19.8 18.3 174.2 42.9 5.7 5.8 125.5
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C-104 45.0 75.0 30.0 105.5 33.1 64.9 398.6 169.3 21.6 17.6 232.8
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C-112 105.0 130.0 25.0 265.0 10.8 26.2 438.8 86.5 6.5 10.9 287.2
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C-113 85.0 105.0 20.0 99.3 12.6 23.2 337.4 61.9 7.9 9.9 299.1
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C-128 150.0 165.0 15.0 149.7 15.2 16.5 297.1 61.5 6.8 10.0 208.5
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C-131 45.0 85.0 40.0 83.0 8.6 29.3 269.9 109.7 16.5 15.5 138.7
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C-132 50.0 70.0 20.0 86.0 11.0 13.0 492.6 146.6 18.6 19.8 292.1
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C-134 85.0 100.0 15.0 51.3 6.3 15.9 209.6 90.7 13.1 12.3 83.3
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C-149 150.0 170.0 20.0 40.4 10.6 98.4 150.2 118.0 28.5 32.6 50.7
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About Gold Canyon Resources Inc.:

Gold Canyon is engaged in the acquisition and exploration of rare and precious metals properties. The Company controls a 100% interest in the Springpole Gold Project, the Favourable Lake Poly-metallic Project and Bear Head Uranium Project 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.

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

Akiko Levinson, President & Director

Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "plans", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplate and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and are also significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.

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

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