SOURCE: Copper Canyon Resources Ltd.

November 19, 2007 09:30 ET

NovaGold Gives Notice of 60% Earn-In at Copper Canyon

CRANBROOK, BC--(Marketwire - November 19, 2007) - Copper Canyon Resources Ltd. (TSX-V: CPY) has received formal notice from NovaGold Resources Inc. (AMEX: NG) (TSX: NG) that NovaGold has completed the requirements to earn a 60% participating interest in the Copper Canyon Property, located adjacent to the Galore Creek copper-gold-silver project in northwestern British Columbia. The Galore Creek Project is owned by a 50/50 partnership between NovaGold and Teck Cominco.

NovaGold may earn an additional 20% interest in the Copper Canyon Property for a total 80% participating interest by paying Copper Canyon C$1 million and completing a feasibility study by September 2011.

Earlier this season, NovaGold notified Copper Canyon that it had completed a 16,000 ft (4,940 m), 12-hole diamond drilling program on the Copper Canyon Property. A number of holes were targeted beneath and beyond the existing boundaries of the current inferred resource (see below). Hole CC07-0033 was drilled to a total depth of 2,076 ft (633 m), testing over 250 m beneath historical drill-hole CC90-2, the highest-grade hole in the Galore Creek district, which intersected 888 ft (270 m) grading 1.92 g/tonne Au, 22.28 g/t Ag and 1.05% Cu. Additional drilling will be required to determine the relationship, orientation and extent of these mineralized intervals. Follow-up drilling was also completed on hole CC05-030 (drilled in late 2005), which intersected 2.5 m grading 50.6 g/t Au (1.5 oz/ton). The true widths of these composites have not been determined. Assay results from this program are pending.

In early June 2007, NovaGold announced that it had received the necessary federal and provincial authorizations and permits to allow NovaGold's board of directors to approve the start of construction for the Galore Creek mine. Construction during the first season progressed well, with significant progress made on the access road and tunnel.

An inferred category resource estimate completed by independent engineering firm Hatch Ltd. of Vancouver, B.C., Canada, shows that the Copper Canyon target at the Galore Creek project in Northwestern British Columbia contains over 2.86 million ounces of gold, 37.9 million ounces of silver and 1.16 billion pounds of copper at a 0.35% copper-equivalent cut-off grade (CuEq)(1) (See Table 1 below). Copper-equivalent grades are based both on long-term average metal prices and estimated recoveries based on extensive metallurgical data from the adjacent Galore Creek Central/SW deposit. The estimate used a geologic model developed from the previously announced drilling at Copper Canyon during 2004 by NovaGold as well as historical results that had encountered significant widths of gold, silver and copper mineralization.


Cutoff   Size            Grade             Million     Million      Million
CuEq(%)  Tonnes  Cu (%) Au (g/t) Ag (g/t)   lbs Cu      ozs Au       ozs Ag
  0.35    164.8   0.35     0.54     7.15    1,160         2.86        37.91
  0.50    116.1   0.41     0.64     8.30      950         2.39        30.98
  0.70     63.0   0.50     0.86    10.21      625         1.73        20.68
  1.00     29.2   0.65     1.14    13.03      381         1.07        12.23
  1.30     15.6   0.83     1.32    15.70      258         0.66         7.87



(1) Copper equivalent calculations (CuEq%) use metal prices of US$375/oz for gold, US$5.50/oz for silver and US$0.90/lb for copper. CuEq% calculations reflect gross metal content that has been adjusted for metallurgical recoveries based on the following criteria: Copper Recovery = (%Cu-0.06)/%Cu with a minimum of 50% and maximum of 95%; Gold Recovery = (Au g/t - 0.14)/Au g/t with a minimum of 30% and maximum of 80%; and Silver Recovery = 80%.

(2) An "inferred mineral resource" is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty that may attach to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred mineral resources must be excluded form estimates forming the basis of feasibility or other economic studies.

Results from past drill programs carried out on the property have defined a broad area of precious-metal-rich mineralization at least 700 m by 400 m that is open to expansion. The mineralization begins at surface and occurs as disseminated chalcopyrite and pyrite hosted within an intrusive porphyry complex. Prior to 2007 work, the area covered by the existing drill holes represented less than 0.5% of the entire property area.

A compilation map outlining relative drillhole locations can be found at:

Copper Canyon management considers the Copper Canyon property to be an important component of the Galore Creek project, providing a potential source of high-grade ore. In addition, documents filed by NovaGold with the B.C. Government indicate that NovaGold intends to construct a water retention facility and diversion structure related to the Galore Creek mine on surface lands within the Copper Canyon property area.

Copper Canyon Resources was created by way of a Plan of Arrangement on June 9, 2006. Shareholders of Eagle Plains Resources Ltd. approved the plan to reorganize the Company's mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, three of Eagle Plains' projects: Copper Canyon, Severance and Abo (Harrison) Gold, were transferred into Copper Canyon on a one-for-one share basis.

This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a "Qualified Person" under National Instrument 43-101.

On behalf of the Board of Directors


"Tim J. Termuende"
President and CEO

Cautionary Note Regarding Forward-Looking Statements

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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