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

Gold Canyon Resources Inc.

August 18, 2008 09:00 ET

Gold Canyon Resources Inc.: Drilling at Cordero Gallium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2008) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce an additional Reverse Circulation (RC) drilling program to be conducted at the Company's Cordero Gallium Project in Nevada, as part of ongoing preparation for preliminary feasibility work. The drill program is designed to follow up and further test newly defined structurally controlled exotic metal anomalies. Also, it will provide additional metallurgical information on the rare and exotic metals that have been identified by previous RC and recent large diameter core drilling completed at Cordero. This drill program will consist of six holes having an aggregate length of approximately 2500 feet.

The Cordero Gallium Project, covering over 3,800 acres and recognized as the largest known primary gallium occurrence in North America, is located in and around the historic Cordero and McDermitt mercury mines, notable as the largest mercury producers in the western hemisphere during much of their production life.

Mr. Douglas Christopherson, Director and Mining Engineer for Gold Canyon and a Qualified Person as defined by National Instrument 43-101, is the person responsible for the preparation of the technical information in this news release. The Cordero Gallium Project is being conducted under Mr. Christopherson's supervision.

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 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.

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 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Contact Information

  • Gold Canyon Resources Inc.
    Akiko Levinson
    President & Director
    (604) 682-3234 or Toll Free: 1-888-242-3234
    (604) 682-0537 (FAX)
    Email: info@goldcanyon.ca
    Website: www.goldcanyon.ca