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

Gold Canyon Resources Inc.

March 17, 2011 13:00 ET

Gold Canyon Mails Proxy Materials for Upcoming Annual General Meeting; Proposes Changes to the Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that its proxy materials for the 2011 Annual General Meeting of shareholders to be held in Vancouver, British Columbia on Wednesday April 13, 2011 at 2:00 p.m. (Vancouver time) has been filed on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Management nominees for re-election to the Board of Directors include incumbents Akiko Levinson, the Chairperson, Chief Executive Officer and President of the Company and Ron Schmitz, the Chief Financial Officer of the Company.

Quinton Hennigh, Ph.D., P.Geo., was recently appointed to the Board of Directors of Gold Canyon and has been nominated for re-election at the upcoming meeting. Dr. Hennigh is an economic geologist with more than 20 years of exploration experience. Over the past four years as President and Chief Geologist of Evolving Gold Corp. ("Evolving"), Dr. Hennigh has helped assemble a world class portfolio of gold projects and led successful exploration resulting in three significant discoveries including the Rattlesnake Hills deposit, Wyoming. Prior to joining Evolving, he was an exploration geologist with Newmont Mining Corp., Newcrest Mining, and Homestake Mining, during which time he worked on projects in North America, Europe, Australia, Asia, and South America. More recently, Dr. Hennigh has acted as advisor to Gold Canyon since 2009, where he helped refocus exploration at the Company's Springpole Gold Project in Red Lake, Ontario. He earned a M.Sc. and a Ph.D in geology and geochemistry from the Colorado School of Mines in 1993 and 1996, respectively.

Doug Buchanan, Q.C. is a new nominee for election to the Gold Canyon Board of Directors. Mr. Buchanan is a partner with the national law firm Davis LLP, acting as the National Managing Partner of Davis LLP for two terms, 1995-98 and 2004-07, and practices out the out of the firm's Vancouver, Toronto and Tokyo offices. He is currently a director of Subaru Canada Inc., Bank West (where he is also member of Audit Committee and Corporate Governance Committee), Western Life Assurance (where he is also member of Audit Committee and Chairman of the Corporate Governance Committee) and Western Financial Insurance Company (where he is also Chairman of the Corporate Governance Committee).

Conrad Pinette is also a new nominee for election to the Gold Canyon Board of Directors. Mr. Pinette is President of Condor Holdings Ltd., a private investment company. Mr. Pinette attended the University of British Columbia where he specialized in forestry. He was owner, manager and President of a family lumber business until its sale in 1980, President and Chief Operating Officer of Lignum Limited, a private forest product company until its sale in 2004, the Executive Vice President of Riverside Forest Products Limited, one of British Columbia's largest forest products companies, until its sale in 2005 and Executive Vice President of Tolko Industries, a large private forest products company, until his retirement in 2006. As Chairman of Pine Tree Developments Ltd., he continues to be responsible for another established family business. He is a director of Northgate Minerals Corporation and Canfor Corporation, a current Trustee of A&W Revenue Royalties Income Fund and a past director and Chairman of the Board of Finning International Inc. and past director of TimberWest Forest Corporation, all public companies.

Ivan Obolensky, Duncan Riesmeyer, Vincent Della Volpe whom collectively have served Gold Canyon for many years have agreed to not stand for re-election at the upcoming meeting.

Akiko Levinson, Chairperson and Chief Executive Officer of the Company stated: "As Gold Canyon continues its growth trajectory, we are very fortunate to have three seasoned and exceptional board members joining our leadership team.

"The nominations of both Doug Buchanan and Conrad Pinette to the Board of Directors will help ensure Gold Canyon continues to be well-positioned to capitalize on current market conditions, while remaining true to the Company's core values. Doug and Conrad share my vision for Gold Canyon, including our belief that our shareholders should always come first.

"I thank Ivan Obolensky, Duncan Riesmeyer and Vincent Della Volpe for their leadership and commitment to Gold Canyon, and look forward to their ongoing informal advice and counsel in the months and years ahead."

Investors and shareholders should refer to the Company's Information Circular available through Gold Canyon's profile on SEDAR for further information.

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 Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp. 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.

Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.

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", "project", "estimate", "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 contemplated 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. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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