Gold Canyon Resources Inc.

Gold Canyon Resources Inc.

June 11, 2007 06:00 ET

Gold Canyon Starts Airborne Radiometric Survey at Bear Head Uranium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2007) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that it has started an airborne radiometrics survey covering an 11 kilometre strike length over the area where the exploration team recently discovered significant uranium mineralization. Field crews will be onsite to follow up the airborne data as soon as it has been received.

The Bear Head Uranium Project covers a 23 kilometre strike-length of the Bear Head Fault Zone (BHFZ). The new surface discovery, 3 kilometres west of any historic occurrences previously reported along the BHFZ, returned 0.043% uranium (0.05% U308) over 3 meters from a saw-cut channel sample last fall. Generally, it is assumed for exploration purposes that deposits with sufficient widths and volume grading 0.02% U308 (0.4 lbs.) might support a large open pit, or 0.1% U308 (2 lbs.) an underground mining operation.

The new discovery, a possible westward extension of the Bearhead Lake Occurrence, is hosted in thick, biotite-rich sills rather than the narrow pegmatite dykes targeted by previous workers. The exploration team confirms the potential to discover uranium mineralization over significant widths anywhere along the 23 kilometre target zone.

Gold Canyon's exploration efforts in Canada are currently centred around the Red Lake Mining Camp in north-west Ontario. The Springpole Lake Project is 70 miles to the east, and the Favourable Lake and Bear Head Projects are 120 miles to the north of Red Lake. Projects to the north may be accessed directly by winter roads connecting Native settlements to Red Lake. The Government of Ontario has recently pledged a budget to support the regional infrastructure and maintenance of these roads. This will greatly decrease the cost of future winter drill programs and the transport of heavy equipment and supplies necessary for exploring this area.

Mr. Garry K. Smith, P.Geo., is the Company's qualified person on the Bear Head Uranium Project as defined by National Instrument 43-101. This news release has been reviewed by Mr. Smith.

About Gold Canyon Resources Inc.:

The Company controls a 100% interest in the Springpole Gold Project and the Bear Head Uranium Project which is adjacent to their 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.

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:

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.

Contact Information

  • Gold Canyon Resources Inc.
    Vic Weckerle
    Investor Relations
    (604) 682-3234 or Toll Free: 1-888-242-3234
    (604) 682-0537 (FAX)