SOURCE: Gold Canyon Resources Inc.

August 30, 2005 13:33 ET

Gold Canyon Appoints Investor Relations Consultant

VANCOUVER, BC -- (MARKET WIRE) -- August 30, 2005 -- Gold Canyon Resources Inc. (TSX-V: GCU) ("Gold Canyon" or "the Company") announces that, subject to regulatory approval, it has retained the services of Ms. Elaine Einarson of Vancouver, British Columbia, to provide investor relations and administrative services to the Company. The retainer is for a period of one year and can be terminated by either party on thirty days' notice.

Ms. Einarson has provided similar services for several companies including Minco Mining & Metals Corporation and Tranzcom Security Networks and, prior to that, had acted as Corporate Sales Manager with IBM Canada Ltd. Ms. Einarson will be responsible for communications with Gold Canyon shareholders and prospective investors, disseminating information concerning Gold Canyon to investment dealers, portfolio managers, analysts, report writers and the media and general administration.

In consideration for such services, Gold Canyon has agreed to pay a monthly fee of $4,500 plus GST, and reimburse Ms. Einarson for other miscellaneous expenses incurred in providing the services. Gold Canyon has also agreed to grant Ms. Einarson, subject to regulatory approval, incentive stock options to acquire up to 60,000 common shares of the Company, which will be priced to the market price in accordance with TSX Venture policy. The retainer with Ms. Einarson is subject to the requisite filings with and acceptance of the TSX Venture Exchange and applicable securities laws.

With the hiring of Ms. Einarson, the Company and Ken Faulkner, who had previously been retained by the Company in a capacity similar to Ms. Einarson, have come to an agreement whereby Mr. Faulkner will continue in his role with the Company but will waive any entitlement to his $5,000 monthly fee and a $600 monthly car allowance.

Gold Canyon is engaged 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

Contact Information

  • For further information, please contact:
    Ron Schmitz
    Tel: (604) 682-3234
    Fax: (604) 682-0537