Gold Canyon Res Gold und Gallium

Gold Canyon Intersects Multiple Long Intersections of Mineralization Including 94 Meters at 2.51 Grams Per Tonne Gold at its Springpole Gold Project
8/30/2010 8:31:32 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Aug 30, 2010 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce results for holes SP10-009 and SP10-011 of its Summer 2010 Diamond Drill Program at its 100% controlled Springpole Gold Project, located in the Red Lake Mining District of Ontario, Canada. Results include 94.0 meters at 2.51 grams per tonne gold (308 feet at 0.073 oz per ton gold) and 36 meters at 1.58 grams per ton gold (118 feet at 0.046 oz per ton gold) in hole SP10-011, and 164.0 meters at 1.02 grams per tonne gold (538 feet at 0.030 oz per ton gold) and 77.0 meters at 1.74 grams per tonne gold (253 feet at 0.051 oz per ton gold) in hole SP10-009.

Gold Canyon Intersects 305 Meters at 1.03 Grams Per Tonne Gold at Its Springpole Gold Project
10/8/2010 8:31:36 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Oct 08, 2010 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce it has intercepted 305 meters at 1.03 grams per tonne gold (1,000 feet at 0.030 oz per ton gold) including 174 meters at 1.35 grams per tonne gold (571 feet at 0.039 oz per ton gold) in hole SP10-016 at its 100% controlled Springpole Gold Project, located in the Red Lake Mining District of Ontario, Canada.

- Hole SP10-016 was collared 50 meters (164 feet) southeast and drilled parallel to hole SP10-008 (see August 16, 2010 news release) at an azimuth of 220 degrees true north and inclination of -45 degrees. In terms of grade-thickness, SP10-016 is one of the best holes drilled in the Property's history. This intercept is the southeastern-most test across the Portage Zone suggesting that the gold system is open for expansion in that direction. The true width represented by this intercept is believed to be approximately 150 meters (492 feet); the structure hosting economic gold mineralization in the Portage Zone is interpreted to dip between 75 degrees southwest to vertical, and striking northwest to southeast; further drilling will test this hypothesis. Hole SP10-016 ended in mineralization when the depth capacity of the drill was reached at 511 meters (1,676 feet), thus, the true width may be greater. The width of the Portage Zone generally ranges from about 50-150 meters along strike to the northwest. Therefore, the intercept in SP10-016 suggests that the zone is widening to the southeast. Hole SP10-016 indicates the Portage Zone persists to depths of at least 375 meters (1,230 feet) and remains open at depth.

- Hole SP10-012 was collared from the same location as SP10-008 and was drilled at an azimuth of 235 degrees true north and inclination of -45 degrees. Because of its somewhat oblique orientation to the Portage Zone and the fact that the hole deviated while drilling, this hole appears to have only tested the northeastern margin of the Portage Zone rather than its full width. Due to bad ground conditions, this hole had to be reduced from HQ to smaller, NQ diameter core, resulting in poorer core recoveries which also affected overall results. Nonetheless, this hole intercepted a long interval of gold mineralization, 133 meters at 0.79 grams per tonne gold (436 feet at 0.023 oz per ton gold).

- Silver assays have been received for holes SP10-007, -008, -009 and -011. Intervals through the Portage Zone appear to indicate a silver to gold ratio of around 3:1 to 6:1 in this part of the system. Locally, this ratio varies from less than 1:1 to 27:1. These results suggest silver could be a significant complement to gold in this system. High silver assays set Springpole apart from most other gold deposits in the Canadian Shield.

Holes SP10-013, -014, -015 and -017 targeted open areas around the East Extension Zone which lies approximately 500 meters (1,640 feet) northeast of the Portage Zone. All of these holes encountered zones of gold mineralization suggesting that this shallow zone expands along strike and at depth. Mineralization in the East Extension Zone is associated with a complex network of veins in contrast to the Portage Zone which is a disseminated, porphyry-hosted deposit.

- Because of the recent financing (see September 23, 2010 news release), Gold Canyon has extended the summer drill program through mid-October. The extended program includes drilling of additional holes in the Portage Zone. The Company expects to complete 23 drill holes by the end of the Summer 2010 Diamond Drill Program, for a total of 29 holes drilled in 2010. Twelve holes remain to be reported over the next two months. Approximately 10,300 meters have been drilled so far this year. Although there will be a two month break in drilling, the Company is planning an aggressive drill campaign from the ice beginning the first week of January 2011.


--------------------------------------------------
----
Portage Zone Results
               From        To    Length  Gold (grams    Length    Gold (oz
Hole         (meters)  (meters)  (meters)   per tonne)    (feet)    per ton)
SP10-016       181.0     187.0       6.0         0.94        20       0.027
              206.0     511.0     305.0         1.03      1000       0.030
includes       289.0     463.0     174.0         1.35       571       0.039
includes       289.0     292.0       3.0         7.30        10       0.213
includes       312.0     322.0      10.0         2.94        33       0.086
includes       387.0     397.0      10.0         2.08        33       0.061
Hole ends in mineralization
Short intervals of no core recovery were encountered at 247-250 m and 445-
448 m
Zones of no recovery were given 0 gold grade in the weighted calculations
above
SP10-012       275.0     408.0     133.0         0.79       436       0.023
includes       275.0     284.0       9.0         2.54        30       0.074
includes       359.0     362.0       3.0         8.76        10       0.256
This hole deviated, and as a result, did not test the full width of the
targeted zone
Short intervals of no core recovery were encountered at 314-317 m, 329-332
m and 362-365 m
Zones of no recovery were given 0 gold grade in the weighted calculations
above
SP10-010 Hole was lost in bad ground before reaching target
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)
cutoff.
Internal dilution within reported intervals does not exceed core lengths of
8 meters.
All reported assay intervals are weighted.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton: g/t
divided 34.2857 or g/t multiply by 0.0292
1 meter = 3.28 feet

-15 % - ohne Meldung. Oder hab ich was übersehen?

Nix mit 0,554 - Order nicht ausgeführt und plötzlich steht das Ask auf 00,593.
Wollen die einen versch....?

TH 1,24 CAD

Gold Canyon Continues to Expand the Portage Zone at Springpole-Hole SP10-022 Intercepts 223 Meters at 1.45 Grams Per Tonne Gold
11/17/2010 8:31:40 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Nov 17, 2010 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that a very long intercept of gold mineralization in hole SP10-022, 223 meters at 1.45 grams per tonne gold (731 feet at 0.042 oz per ton gold) including 27 meters at 4.64 grams per tonne gold (89 feet at 0.135 oz per ton gold), extends the Portage Zone an additional 50 meters southeast (please see attached map: media3.marketwire.com/docs/gcu1117m.pdf). This hole was lost at 396 meters in broken ground before it could reach its targeted depth. Hole SP10-024 twinned SP10-022, reached its targeted depth, and assays are expected back soon. Springpole Gold Project is 100% controlled by the Company and is located in the Red Lake Mining District of Ontario, Canada.


--  Hole SP10-022 was collared approximately 50 meters southeast of hole
   SP10-019 (307 meters at 1.44 grams per tonne gold announced in news
   release dated November 2, 2010) intersected 223 meters at 1.45 grams per
   tonne gold (731 feet at 0.042 oz per ton gold) including 27 meters at
   4.64 grams per tonne gold (89 feet at 0.135 oz per ton gold). Hole SP10-
   022 was drilled at an azimuth of 220 degrees true north and inclination
   of -45 degrees, parallel to hole SP10-019. Because hole SP10-022 did not
   reach its intended depth, a twin hole, SP10-024, was drilled nearby and
   successfully reached a targeted depth of 506 meters.
--  Hole SP10-022 extends the Portage Zone a further 50 meters southeast.
   This hole demonstrates good continuity of mineralization in this part of
   the Portage Zone. Holes SP10-022 and -024 are the southeast-most holes
   drilled by the Company in 2010. The Portage Zone is wide open to the
   southeast and this extension will be the focus of drilling this winter.
--  The strike length of the northwesterly striking Portage Zone presently
   stands at approximately 950 meters. In the vicinity of SP10-022, this
   zone is believed to be dipping 75 degrees to the southwest to near
   vertical. Because SP10-022 did not reach its targeted depth, the true
   width of the zone cannot be estimated. Pending results from hole SP10-
   024, the twin of SP10-022, should allow estimation of the true width of
   the Portage Zone in this area.
--  Results from the remaining eight holes from this summer's drill program
   are due back from the lab by mid-December. Hole SP10-024 is a longer
   twin of SP10-022. Holes SP10-026 and -29 test the Portage Zone in areas
   below holes SP10-007, -009 and -011 (see August 16, 2010 and August 30,
   2010 new releases) at the northwest end of the Portage Zone. Hole SP10-
   028 tests the mid portion of the zone. Three other holes, SP10-021, -023
   and -025, test other targets on the property. Hole SP10-027 was
   terminated at 115 meters when the drill hole deviated off course and
   thus was unable to reach its intended target zone. In total, the Company
   has drilled approximately 10,300 meters of diamond core at Springpole in
   2010.
--  Silver assays have returned from holes SP10-012 and -016 (see table
   below). Silver was never routinely analyzed at Springpole in the past,
   but the Company now conducts systematic assaying of silver on all new
   holes. The Portage Zone demonstrates appreciable silver such as hole
   SP10-012, 133 meters at 8.55 grams per tonne silver (436 feet at 0.250
   oz per ton silver). Silver to gold ratios from the Portage Zone
   generally range from 2.5:1 to 11:1.
--  Plans are being made for the Winter 2011 Diamond Drill Program. The
   Company is planning an aggressive drill program, funded by the recently
   completed $6,000,000 financing (see news release dated October 29,
   2010), to further evaluate the size of the Portage Zone. Up to 10,000
   meters of drilling are planned utilizing three diamond core rigs
   beginning in early January, 2011, weather permitting.



"The Portage Zone continues to deliver consistent drill results," comments Dr. Quinton Hennigh, technical advisor to Gold Canyon. "Hole SP10-022 is the southeast-most hole drilled by Gold Canyon to date. We feel confident our upcoming winter drill program will continue to expand this very large gold system. We are also pleased to see consistently high silver from the Portage Zone. Our silver assays suggest that, in essence, we are finding a few ounces of silver for every ounce of gold."


--------------------------------------------------
----
Summary of Significant Intervals in Hole SP10-022
                                               Gold
              From        To     Length  (grams per   Length          Gold
Hole        (meters)  (meters)   (meters)      tonne)   (feet)  (oz per ton)
SP10-022        155       378        223        1.45      731         0.042
includes        180       207         27        4.64       89         0.135
Poor to no core recovery was experienced from 378 to the end of the hole at
396 m where the hole was lost in broken ground
Hole SP10-024 twinned SP10-022 and drilled to 506 m depth; assays are
pending
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)
cutoff.
Weighted averages were use to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
12 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet
--------------------------------------------------
Gold and Silver Intervals from Holes SP10-012 and -016
                             Previously
                              Announced            Previously
                                   Gold Silver      Announced Silver Silver
                                 (grams (grams           Gold    (oz     to
           From      To  Length     per    per Length (oz per    per   Gold
Hole     (meters)(meters)(meters)  tonne) tonne) (feet)    ton)   ton) Ratio
SP10-012     275     408     133    0.79   8.55    436   0.023  0.250   10.9
includes     275     284       9    2.54   6.06     30   0.074  0.177    2.4
includes     359     362       3    8.76 128.37     10   0.256  3.748   14.6
This hole deviated, and as a result, did not test the full width of the
targeted zone.
Short intervals of no core recovery were encountered at 314-317 m, 329-332 m
and 362-365 m.
Zones of no recovery were given 0 gold and silver grade in the weighted
averages above.
SP10-016     181     187       6    0.94  17.42     20   0.027  0.509   18.8
            206     511     305    1.03   4.71   1000   0.030  0.138    4.6
includes     289     463     174    1.35   5.62    571   0.039  0.164    4.2
includes     289     292       3    7.30  58.80     10   0.213  1.717    8.1
includes     312     322      10    2.94   8.72     33   0.086  0.255    3.0
includes     387     397      10    2.08   7.52     33   0.061  0.220    3.6
Hole ends in mineralization.
Short intervals of no core recovery were encountered at 247-250 m, and 445-
448 m.
Zones of no recovery were given 0 gold and silver grade in the weighted
averages above.
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)
cutoff.
Weighted averages were use to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
8 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet



The Summer 2010 Diamond Drill Program, now complete, is part of an ongoing program of drilling and remodelling of the Springpole deposit to move it towards prefeasibility. Drilling is planned to continue through April 2011, at which time work will begin on revising the resource estimate for the deposit.

Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones including East Extension, Camp and Main consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometres representing only about 15 percent of the greater alkaline intrusive complex which yet remains to be explored.

Core was logged, then split using diamond saws, with one half sent for analyses and the other half stored for future reference. Quality control programs include the use of duplicates, standards and internal and external check assaying. Certified sample standards were submitted with the normal sample stream. Gold and silver assays were completed by SGS Canada Inc. in Red Lake and Toronto, Ontario using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized.

Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the Qualified Persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at Springpole.

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.

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.

Contacts: Gold Canyon Resources Inc. (604) 682-3234 or Toll free: 1 (888) 242-3234 (604) 682-0537 (FAX) info@goldcanyon.ca www.goldcanyon.ca Gold Canyon Resources Inc. Leo Karabelas Investor Relations (416) 543-3120 leo@frontlineir.com

SOURCE: Gold Canyon Resources Inc.

mailto:info@goldcanyon.ca www.goldcanyon.ca mailto:leo@frontlineir.com
Copyright 2010 Marketwire, Inc., All rights reserved.

tmx.quotemedia.com/article.php

at Springpole

Echt gute Grades, weiter so

the $2 stock one day could be worth $7 or more.

Thus, in these accelerating and high-risk commodities equities markets, when I look at a prospector that is already on a run, I have to get my nerve up. There are several worth perusing. One of them, Gold Canyon Resources (TSX: V.GCU, Stock Forum), is sitting on sizeable gold grades across significant meters in the Red Lake Mining district of Ontario.


www.stockhouse.com/Columnists/2010/Nov/26/...h-for-some-junior


Investors have stepped up to the plate in the past two weeks after seeing the Springpole assays. A summer drill program is striking fairly consistent grades of gold and silver in breccias-hosted pods and veins. Still, Gold Canyon stock is now at three times its $50 million market capitalization of August.

To believe the momentum continues is to believe further assays due in December will show lengthy intercepts of significant gold grades at thi Springpole might hold as much as eight million ounces of golds alkaline intrusion deposit. If you are doing the math,. Thus, even with a lowly peg of $100-per-ounce in the ground, Barrick Gold (TSX: T.ABX, Stock Forum) or another large miner would need to spend about $800 million on a purchase. On a fully-diluted basis, the $2 stock one day could be worth $7 or more. Gold Canyon has other projects as well.

Auch heut wieder in Toronto. Allein die Entwicklung im November ist schon atemberaubend. Wenn das so weiterläuft, haben wir die 7$ in Bälde..  :-)

Ein einziges mageres Sternchen für den Thread und 345 Zugriffe.
Dafür eine Peformance von + 240 % in zwei Monaten.

Die Leser bei Ariva haben anscheinend andere Werte im "Focus"..

und so geht es weiter...

Gold Canyon Announces Additional Long Gold Intercepts at Springpole Gold Project

VANCOUVER, BRITISH COLUMBIA, Dec. 9, 2010 (Marketwire) -- Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that hole SP10-029 has intersected 132 meters at 2.30 grams per tonne gold including 42 meters at 5.28 grams per tonne gold. Another hole, SP10-028, intersected 108 meters at 1.75 grams per tonne gold including 12 meters at 6.11 grams per tonne gold. Hole SP10-028 ended in mineralization when the hole was terminated due to difficult drilling conditions. Both holes, SP10-028 and -029, test parts of the Portage Zone (to see the attached map please click on: media3.marketwire.com/docs/gcu1209.jpg). The Springpole Gold Project is 100% controlled by the Company and is located in the Red Lake Mining District of Ontario, Canada.



--  Hole SP10-029, 132 meters at 2.30 grams per tonne gold (433 feet at
   0.067 oz per ton gold) including 42 meters at 5.28 grams per tonne gold
   (138 feet at 0.154 oz per ton gold), was collared approximately 70
   meters east of SP10-011 (94 meters at 2.51 grams per tonne gold
   announced in news release dated August 30, 2010) at an azimuth of 220
   degrees true north and inclination of -45 degrees, parallel to hole
   SP10-011 and below, and on section with, hole SP10-005 (55.0 meters at
   2.21 grams per tonne gold announced in news release dated May 4, 2010).
   This long interval of gold mineralization, in the northwest part of the
   Portage Zone, is the deepest intercept drilled to date during the
   current staged drilling program, and confirms mineralization to depths
   in excess of 300 meters. It also reaffirms shallower, on section
   mineralization intercepted in drill hole SP10-005, which ended in
   mineralized rock. The true width represented by this intercept is
   approximately 90 meters. Shallow zones of gold mineralization were also
   encountered in this hole (see table on page 3: Summary of Significant
   Intervals from Portage Zone).

--  Hole SP10-028, 108 meters at 1.75 grams per tonne gold (354 feet at
   0.051 oz per ton gold) including 12 meters at 6.11 grams per tonne gold
   (39 feet at 0.178 oz per ton gold), was collared a few meters from SP10-
   008 (123 meters at 1.45 grams per tonne gold announced in news release
   dated August 16, 2010) at an azimuth of 245 degrees true north and
   inclination of -45 degrees. This hole targeted a 100 meter wide gap with
   no previous drill holes in the Portage Zone. Due to difficult drilling
   conditions, the hole was terminated in mineralized rock before
   penetrating the full width of the Portage Zone. This intercept
   demonstrates continuity of mineralization to vertical depths of at least
   350 meters in this part of the Portage Zone (see table on page 3:
   Summary of Significant Intervals from Portage Zone).

--  The strike length of the northwesterly striking Portage Zone presently
   stands at approximately 950 metres Hole SP10-028 and -029 continue to
   confirm that the Portage Zone persists beyond 300 meters depth along its
   entire length. True widths of the zone range from 90 to 150 meters.
   Drilling planned for Winter 2011 will test shallow portions of this zone
   to confirm continuity to surface.

--  Hole SP10-021 tested an area between the Portage Zone and East Extension
   Zone and encountered 4 meters at 6.17 grams per tonne gold (13 feet at
   0.180 oz per ton gold) from 299-303 meters down hole depth in a vein
   more typical of the East Extension Zone. Hole SP10-023 encountered 38
   meters at 0.68 grams per tonne gold (125 feet at 0.020 oz per ton gold)
   from 40-78 meters down hole depth along the eastern margin of the Main
   Zone (see table on page 3: Summary of Significant Intervals from Other
   Targets (Not in Portage Zone)).

--  Results from the remaining two holes from this summer's drill program
   are due back from the lab by mid-December. Hole SP10-026 tests the
   Portage Zone below hole SP10-007 at its northwest end. Hole SP10-025,
   tests the gap between the Main and Portage Zones. Hole SP10-027 was
   terminated at 115 meters when the drill hole deviated off course and
   thus was unable to reach its intended target zone and was not sampled.
   In total, the Company drilled approximately 10,300 meters of diamond
   drill core at Springpole during the Summer 2010 Diamond Drill Program.

--  The Company is planning an aggressive Winter 2011 Diamond Drill Program
   to further evaluate the size of the Portage Zone. Up to 10,000 meters of
   drilling are planned utilizing three diamond core rigs beginning in
   early January 2011, weather permitting. Cold weather has recently
   settled in the Springpole area and personnel are building up ice on the
   lake in preparation for winter drilling. Two rigs will drill infill
   holes in the Portage Zone and a third rig will drill step-out holes to
   the southeast where the Company believes the Portage Zone can be
   expanded.



"Hole SP10-029 is anomalous for the Portage Zone which typically displays true widths of 100-150 meters and grades of around 1.3-1.5 grams per tonne gold," comments Dr. Quinton Hennigh, technical advisor to Gold Canyon. "The true width of the Portage Zone represented by the intercept in SP10-029 is about 90 meters, yet the grade is significantly higher at 2.23 grams per tonne gold. This intercept may indicate that the zone narrows but increases in grade with depth."

"Hole SP10-028 tested a 100 meter gap in drilling in the southeast part of the Portage Zone," continues Hennigh. "Although we were disappointed the hole did not penetrate the full width of the Portage Zone, we are very pleased to see it return good gold grades in this critical gap."



Summary of Significant Intervals from Portage Zone                        
--------------------------------------------------
                                                Gold
                                              (grams
               From         To     Length        per     Length   Gold (oz
Hole         (meters)   (meters)   (meters)     tonne)     (feet)   per ton)
SP10-028          83         85          2       1.55          7      0.045
                162        166          4       1.12         13      0.033
                217        226          9       0.44         30      0.013
                267        283         16       0.61         52      0.018
                361        469        108       1.75        354      0.051
includes         412        460         48       3.18        157      0.093
includes         427        439         12       6.11         39      0.178
Hole ends in mineralization; terminated due to difficult drilling          
conditions.                                                              
Intervals of no core recovery were encountered at 394-400 m and 439-445 m.
Zones of no recovery were given 0 gold grade in the weighted calculations  
above.                                                                    

SP10-029           3         41         38       0.54        125      0.016
                 80         98         18       0.55         59      0.016
                193        228         35       0.34        115      0.010
                241        263         22       0.52         72      0.015
                301        433        132       2.30        433      0.067
includes         340        382         42       5.28        138      0.154
includes         340        346          6      11.07         20      0.323
Intervals of no core recovery were encountered at 337-340 m, 364-370 m and
418-421 m.                                                                
Zones of no recovery were given 0 gold grade in the weighted calculations  
above.                                                                    
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)  
cutoff.                                                                    
Weighted averages were used to calculate all reported intervals.            
Internal dilution within reported intervals does not exceed core lengths of
8 meters.                                                                  
1 troy ounce = 31.103 grams                                                
Conversion factor - grams per tonne to troy ounces per short ton; g/t      
divided by 34.2857 or g/t multiplied by 0.0292                            
1 meter = 3.28 feet                                                        

Summary of Significant Intervals from Other Targets (Not in Portage Zone)  
--------------------------------------------------
                                                Gold
                                              (grams
               From         To     Length        per     Length   Gold (oz
Hole         (meters)   (meters)   (meters)     tonne)     (feet)   per ton)
SP10-021          93         96          3       1.22         10      0.036
                299        303          4       6.17         13      0.180
includes         301        302          1      15.77          3      0.460

SP10-023          40         78         38       0.68        125      0.020
                134        137          3       0.94         10      0.027
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)  
cutoff.                                                                    
Weighted averages were used to calculate all reported intervals.            
Internal dilution within reported intervals does not exceed core lengths of
8 meters.                                                                  
1 troy ounce = 31.103 grams                                                
Conversion factor - grams per tonne to troy ounces per short ton; g/t      
divided by 34.2857 or g/t multiplied by 0.0292                            
1 meter = 3.28 feet                                                        



The Summer 2010 Diamond Drill Program completed in October, 2010 is part of an ongoing program of drilling and remodelling of the Springpole deposit to move it towards prefeasibility.

Drilling is planned to continue through April 2011, at which time work will begin on revising the resource estimate for the deposit.

Gold Canyon Intercepts 353 Meters at 1.17 Grams per Tonne Gold at Springpole Gold Project
12/15/2010 8:31:44 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Dec 15, 2010 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that hole SP10-026 has intersected 353 meters at 1.17 grams per tonne gold including 66 meters at 2.38 grams per tonne gold in the Portage Zone. Another hole, SP10-025, intersected 3 meters at 16.08 grams per tonne gold and 1 meter at 45.00 grams per tonne gold in the Main Zone (please see attached map: media3.marketwire.com/docs/GCUDrillMap.jpg). The Springpole Gold Project is 100% controlled by the Company and is located in the Red Lake Mining District of Ontario, Canada.


--  Hole SP10-026, 353 meters at 1.17 grams per tonne gold (1,158 feet at
   0.034 oz per ton gold) including 66 meters at 2.38 grams per tonne gold
   (216 feet at 0.069 oz per ton gold), was collared approximately 60
   meters northeast of SP10-007 (217 meters at 1.57 grams per tonne gold
   announced in news release dated August 16, 2010) at an azimuth of 220
   degrees true north and inclination of -45 degrees, parallel to and on
   section with hole SP10-007. This long interval confirms continuity of
   the Portage Zone to depths of 300 meters at its northwest end. Hole
   SP10-026 tested the full width of the Portage Zone which is nearly
   vertical in this area, and the true width represented by this intercept
   is believed to be approximately 250 meters. Elsewhere, the Portage Zone
   displays a true width ranging from about 90-150 meters.
--  Hole SP10-025, drilled at an azimuth of 220 degrees true north and
   inclination of -45 degrees, tested a gap in drilling between the
   northwest end of the Portage Zone and the vein-style Main Zone. This
   hole encountered two high grade veins, 3 meters at 16.08 grams per tonne
   gold (10 feet at 0.47 oz per ton gold) and 1 meter at 45.00 grams per
   tonne gold (3 feet at 1.314 oz per ton gold), hosted in greenstone
   country rock at shallow depth. Deeper in the hole, a narrow Portage-
   style porphyry intercept of 38 meters at 1.53 grams per tonne gold (125
   feet at 0.045 oz per ton gold) was encountered. This is the furthest
   northwest intercept of this style of mineralization and may indicate the
   Portage Zone plunges underneath the Main Zone in this direction. More
   drilling is needed below this intercept to confirm this possibility.
--  The strike length of the northwesterly-striking Portage Zone presently
   stands at approximately 950 meters. This zone remains open at depths in
   excess of 300 meters along its entire length. True widths of the zone
   generally range from 90 to 150 meters, but hole SP10-026 indicates it
   locally widens to as much as 250 meters. Drilling planned for Winter
   2011 will test shallow portions of the Portage Zone to confirm its
   continuity to surface.
--  All outstanding gold assays from the Summer 2010 Diamond Drill Program
   have returned from the laboratory, but the Company is still waiting upon
   return of many outstanding silver assays. Hole SP10-027 was terminated
   at 115 meters when the drill hole deviated off course and thus was
   unable to reach its intended target zone and was not sampled. In total,
   the Company drilled approximately 10,300 meters of diamond drill core at
   Springpole during the Summer 2010 Diamond Drill Program.
--  The Company is planning an aggressive Winter 2011 Diamond Drill Program
   to further evaluate the size of the Portage Zone. Up to 10,000 meters of
   drilling are planned utilizing three diamond core rigs beginning in
   early January 2011, weather permitting. Two rigs will drill infill holes
   in the Portage Zone and a third rig will drill step-out holes to the
   southeast where the Company believes the Portage Zone can be expanded.
   Cold weather continues in the Springpole area and personnel are building
   up ice on the lake where ice thicknesses are now uniformly in excess of
   six inches.



"Hole SP10-026 indicates the Portage Zone widens dramatically at its northwest end at depth," comments Dr. Quinton Hennigh, technical advisor to Gold Canyon. "The interval of porphyry-style mineralization encountered in hole SP10-025 further adds intrigue and suggests that the Portage Zone may be plunging underneath the Main Zone where there is little historic drilling. We are giving careful consideration to this possibility and may plan one or two holes to test for buried extensions of the Portage Zone underneath the Main Zone."


Summary of Significant Intervals from Portage Zone
--------------------------------------------------
                                               Gold                  Gold
              From         To     Length     (grams     Length        (oz
Hole        (meters)   (meters)   (meters) per tonne)     (feet)   per ton)
SP10-026         54        407        353       1.17       1158      0.034
includes         82         86          4       8.31         13      0.243
includes        270        280         10       2.82         33      0.082
includes        304        370         66       2.38        216      0.069
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.01 oz per ton gold)
cutoff.
Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths
of 12 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet
Summary of Significant Intervals from Main Zone
--------------------------------------------------
                                                Gold                  Gold
               From         To     Length     (grams     Length        (oz
Hole         (meters)   (meters)   (meters) per tonne)     (feet)   per ton)
SP10-025           7          9          2       0.88          7      0.026
                 14         23          9       6.36         30      0.186
includes          14         17          3      16.08         10      0.470
                 35         36          1      45.00          3      1.314
                114        116          2       0.91          7      0.027
                215        253         38       1.53        125      0.045
includes         228        237          9       4.21         30      0.123
                281        284          3       0.92         10      0.027
--------------------------------------------------
Reported intervals apply a 0.34 gram per tonne gold (0.01 oz per ton gold)
cutoff.
Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths
of 8 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet

+ 25 % in Toronto - ohne News..

jetzt bei 2,40 Can$ -  das Kännchen wird auch ohne Meldung immer voller..

neue ATH in Sicht

SP10-022          195       196.5           6.52          6.13        94.0
SP10-022        208.5         210           1.23          1.07        87.0
SP10-022          303         304           1.78          1.63        91.6
SP10-022          311         312           0.44          0.42        95.5
SP10-024          171         172           2.93          2.62        89.4
SP10-024          193       194.5           4.95          4.63        93.5
SP10-024          202         205            4.7           4.3        91.5
SP10-024        221.5         223           1.24          1.01        81.5
SP10-024        230.5         232           0.91          0.73        80.2
--------------------------------------------------



We acknowledge that the BLEG procedures are more aggressive than typical operating conditions but the results suggest that gold should be recoverable using conventional leaching technology. The results also corroborate historical tests which produced recoveries of approximately 80% on pulps ground to -200 mesh and subjected to similar solutions and leach times. The Company has more extensive metallurgical testing planned as part of a full evaluation of mineralization at Springpole.

"Although these results are just a first look at the metallurgical behaviour of this gold mineralization, we are very pleased to see that a significant amount of gold readily goes into solution using conventional processes," comments Dr. Quinton Hennigh technical advisor to Gold Canyon.

Winter Drill Program Update

Three diamond drill rigs are presently drilling off the ice at Springpole. Conditions remain cold and suitable for build-up of ice on the lake. Six holes have been completed to date; all testing shallow to mid-level parts of the northwest and middle Portage Zone. These holes are critical for demonstrating continuity of mineralization to surface. Rig #1 has been relocated (as of 2nd February, 2011) to the southeast portion of the Portage Zone where it will attempt to further expand this zone southeastward. The first complete assays from these first holes are expected back in approximately 10-14 days.

Presently, the strike length of the northwesterly-striking Portage Zone stands at approximately 950 meters. This zone remains open at depths in excess of 300 meters along its entire length. True widths of the zone generally range from 90 to 150 meters, but locally widen to as much as 250 meters. The zone remains open at depth, to the southeast and northwest where it appears to plunge underneath the Main Zone, a zone comprised of a series of high grade veins.

The Winter 2011 drill program is the third phase of an ongoing program of drilling and remodeling of the Springpole deposit to move it towards prefeasibility. Drilling is planned through late March 2011, at which time work will begin on revising the resource estimate for the deposit.

About Springpole

Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones, including East Extension, Camp and Main, consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometers representing only about 15 percent of the greater alkaline intrusive complex which remains yet to be explored.

Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the Qualified Persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at Springpole.

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.

"We are also very pleased to see near surface mineralization in holes SP11-030 and -031 drilled in the gap between the Main and Portage zones," continues Hennigh. "We can now confidently say that gold mineralization is continuous for a distance of 1.35 kilometers from the Main Zone in the northwest to the present terminus of the Portage Zone in the southeast."



--  Hole SP11-033 drilled to a depth of 250.5 meters, was designed to test
   shallow and intermediate depths of the Portage Zone. It drilled above
   hole SP10-005 drilled last winter 2010, and above SP10-029 drilled in
   the summer of 2010, which tested the zone at depths of nearly 250
   meters. SP11-033 was drilled at an azimuth of 220 degrees true north and
   inclination of -45 degrees. It was drilled from the same location as
   hole SP11-032 (inclination of -45 degrees), which was lost in bad ground
   at a depth of 70 meters. SP11-033 intersected the first bonanza grade
   gold mineralization yet encountered in the Portage Zone, including 3
   meters at 53.88 grams per tonne gold (10 feet at 1.573 oz per ton gold)
   within 302 meters at 1.39 grams per tonne gold (991 feet at 0.041 oz per
   ton gold). The high grade interval includes a one meter interval at
   126.51 grams per tonne gold (3 feet at 3.694 oz per ton). Using an upper
   cut-off of 34.25 grams per tonne (1 oz per ton) applied to this sample,
   these intervals become 3 meters at 23.12 grams per tonne gold (10 feet
   at 0.675 oz per ton gold) and 302 meters at 1.08 grams per tonne gold
   (991 feet at 0.032 oz per ton gold). Encouragingly, SP11-033 encountered
   gold mineralization beginning at 13 meters at the beginning of bedrock
   immediately below the lake bed.
--  Hole SP11-034 was collared approximately 100 meters southeast of SP11-
   033; drilled at an azimuth of 220 degrees true north, an inclination of
   -45 degrees and drilled to a total depth of 379.5 meters. This hole
   tested intermediate levels of the Portage Zone in an area where only 20
   year old historic drill holes are present. Two mineralized intervals
   were encountered; 73.5 meters at 1.18 grams per tonne gold (241 feet at
   0.034 oz per ton gold) beginning at 37 meters down hole, and 169 meters
   at 1.08 grams per tonne gold (554 feet at 0.032 oz per ton gold)
   beginning at 162 meters down hole including 51 meters at 2.20 grams per
   tonne gold (167 feet at 0.064 oz per ton gold). It is clear that the
   Portage Zone bifurcates in this location, something seen locally in
   previous drill holes elsewhere along the zone.
--  Holes SP11-030 and -031 both tested an 80 meter wide near surface gap
   between the Portage Zone and the Main Zone further northwest. SP11-030
   was drilled at an azimuth of 220 degrees true north and inclination of
   -45 degrees, and drilled to a downhole depth of 241 meters; SP11-was
   collared approximately 50 meters southeast from SP11-030 and was drilled
   with the same orientation to a downhole depth of 238 meters. Hole SP11-
   030 encountered 59 meters at 2.51 grams per tonne gold (194 feet at
   0.073 oz per ton gold) beginning at 14 meters down hole, and hole SP11-
   031 encountered 85.6 meters at 1.09 grams per tonne gold (281 feet at
   0.032 oz per ton gold) beginning at 5.4 meters down hole. These results
   indicate the Portage and Main zones are connected and form one single
   body of gold mineralization.
--  Core recovery remains a challenge in the Portage Zone which is comprised
   of soft, broken, highly altered rock. Numerous intervals of no core
   recovery were encountered in holes SP11-033 and -034. Hole SP11-032 was
   lost in bad ground when the core barrel broke off. Note that in the
   table below, many intervals of no core recovery in holes SP11-033, and
   -034, fall within mineralized intervals and in some cases higher grade
   intervals. These zones are given a grade of zero when calculating
   weighted averages reported below, and therefore have a negative effect
   on the overall results. The Company continues to work diligently with
   the drill contractor to mitigate loss of core. This includes use of
   specialized mud mixes, slower drilling and the use of specialized soft
   core recovery tools. As a consequence, the total meters drilled thus far
   stands at approximately 3,000 meters. It is hoped that the pace will
   pick up over the next few weeks of the drill program as new measures are
   being taken to improve the speed of drilling. The Company now expects to
   complete around 6,000 meters, less than the 9,000 meters originally
   planned. Plans are underway to bring in two barges across the winter
   road before breakup so that drilling may continue in late spring to
   early summer. Critical holes that are not completed this winter will be
   drilled in that period so that the Company can meet its goal of revising
   a resource estimate in 2011, and continuing the exploration effort at
   Springpole.


Summary of Results from the Portage Zone
--------------------------------------------------
                                              Gold                    Gold
                                            (grams                     (oz
                                               per                     per
                                            tonne)                    ton)
                                      Gold   - top             (oz   - top
              From      To  Length  (grams  cut to            Gold  cut to
             (met-   (met-   (met-     per   34.25  Length     per       1
Hole           ers)    ers)    ers)  tonne)     gpt  (feet)    ton)     opt
--------------------------------------------------
SP11-032       13.0    70.0    57.0    0.54      NA     187   0.016      NA
Hole ends in mineralization; terminated due
to difficult drilling conditions

SP11-033       13.0   315.0   302.0    1.39    1.08     991   0.041   0.032
includes       13.0   278.0   265.0    1.52    1.17     869   0.044   0.034
includes      200.0   208.0     8.0    2.29      NA      26   0.067      NA
includes      228.0   278.0    50.0    5.45    3.61     164   0.159   0.105
includes      228.0   253.0    25.0    8.81    5.12      82   0.257   0.150
includes      230.0   233.0     3.0   53.88   23.12      10   1.573   0.675
includes      230.0   231.0     1.0  126.51   34.25       3   3.694   1.000
includes      274.0   275.5     1.5   14.40      NA       5   0.420      NA
Intervals of no core recovery were encountered at 146.5-148.0, 203.5-205.0,
235.0-236.5, 239.5-244.0 and 302.5-304.0 m
Zones of no recovery were given 0 gold grade in the weighted calculations
above

SP11-034       37.0   110.5    73.5    1.18      NA     241   0.034      NA
includes       76.0   109.5    33.5    1.56      NA     110   0.046      NA
             162.0   331.0   169.0    1.08      NA     554   0.032      NA
includes      246.0   297.0    51.0    2.20      NA     167   0.064      NA
includes      246.0   249.0     3.0   18.51      NA      10   0.540      NA
Intervals of no core recovery were encountered at 249.0-256.5, 258.0-259.5,
261.0-265.5, 270.0-271.5, 277.5-279.0, 285.0-286.5 and 298.5-300.0 m
Zones of no recovery were given 0 gold grade in the weighted calculations
above
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff.
Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
12 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292 1 meter = 3.28 feet


Summary of Results from the Portage-Main Zone Gap
--------------------------------------------------
              From        To    Length  Gold (grams  Length  Gold (oz per
Hole       (meters)  (meters)  (meters)   per tonne)  (feet)          ton)
--------------------------------------------------
SP11-030       14.0      73.0      59.0         2.51     194         0.073
includes       25.0      66.0      41.0         3.32     134         0.097
includes       30.0      41.0      11.0         7.28      36         0.213
includes       34.0      37.0       3.0        12.69      10         0.371

SP11-031        5.4      91.0      85.6         1.09     281         0.032
includes       23.0      53.0      30.0         1.45      98         0.042
includes       65.0      91.0      26.0         1.38      85         0.040
includes       82.0      87.0       5.0         3.12      16         0.091
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff.
Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
12 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292 1 meter = 3.28 feet




The Winter 2011 Diamond Drill Program is part of an ongoing program of drilling and remodeling of the Springpole Gold deposit to move it towards prefeasibility. Drilling is planned to continue through April 2011, at which time work will begin on revising the resource estimate for the deposit.

Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones, including East Extension, Camp and Main, consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometers representing only about 15 percent of the greater alkaline intrusive complex which yet remains to be explored.

Core was logged, then split using diamond saws, with one half sent for analyses and the other half stored for future reference. Quality control programs include the use of field and laboratory duplicates, standards, blanks, and internal and external check assaying. Certified sample standards were submitted with the normal sample stream. Gold and silver assays were completed by SGS Canada Inc. in Red Lake and Toronto, Ontario using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized.

Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the Qualified Persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at Springpole.

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

Canyon Announces Long Gold Intercept From Step-Out Drilling in the Portage Zone at Its Springpole Gold Project
3/1/2011 8:31:53 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Mar 01, 2011 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce the results of four additional holes from its Winter 2011 Diamond Drill Program at its 100% controlled Springpole Gold Project, located in the Red Lake Mining District of Ontario, Canada. All the drill holes have encountered long intercepts of gold mineralization; results include 138.5 meters at 1.13 grams per tonne gold (454 feet at 0.033 oz per ton gold) from hole SP11-036, a step-out exploration hole drilled in the southeast extension of the Portage Zone. This hole was terminated in mineralization, and it is believed that the full width of the Portage Zone, in this section, extends further southwest.

(Please see attached map: media3.marketwire.com/docs/gc228.pdf)


--  Hole SP11-036 was collared approximately 75 meters south-southwest of
   hole SP10-024 (225 meters at 1.48 grams per tonne gold announced in a
   press release dated Nov. 23, 2010) and drilled at an azimuth of 220
   degrees true north and inclination of -45 degrees. This hole intersected
   several zones of gold mineralization, the longest of which constituted
   the bottom 190.5 meters and graded 0.90 grams per tonne gold (625 feet
   at 0.026 oz per ton gold) including 138.5 meters at 1.13 grams per tonne
   gold (454 feet at 0.033 oz per ton gold). This hole was terminated in
   gold mineralization due to poor ground conditions. It is believed that
   the full width of the zone still remains to be tested. SP11-036 adds an
   additional 50 meters of strike to the Portage Zone and indicates that it
   remains open to the southeast.
--  Hole SP11-037 was collared 50 meters northwest of SP11-034 (see press
   release dated Feb. 16, 2011) and drilled at an azimuth of 220 degrees
   true north and inclination of -45 degrees. Similar to hole SP11-034,
   hole SP11-037 tests near surface and intermediate depths of the Portage
   Zone where only historic drilling is present. SP11-037 intersected 262.5
   meters at 0.92 grams per tonne gold (861 feet at 0.027 oz per ton gold)
   including 18 meters at 3.22 grams per tonne gold (59 feet at 0.094 oz
   per ton gold). First gold mineralization begins at a down hole depth of
   21 meters, essentially at the contact between lake bottom sediments and
   bedrock.
--  Holes SP11-035 and -038 are both vertical infill holes testing near-
   surface mineralization at the northwest end of the Portage Zone. Hole
   SP11-035 encountered gold mineralization at a down hole depth of 16
   meters, immediately below lake bottom. Several intervals of gold
   mineralization were encountered including 95.5 meters at 1.22 grams per
   tonne gold (313 feet at 0.036 oz per ton gold). Hole SP11-038
   experienced no core recovery to 61 meters due to poor ground conditions.
   Like SP11-035, hole SP11-038 encountered multiple intervals of gold
   mineralization including 81 meters at 1.21 grams per tonne gold (266
   feet at 0.035 oz per ton gold). As both SP11-035 and -038 were designed
   to be near-surface infill holes, both ended in mineralization at depths
   of 200.5 and 202 meters respectively.
--  With hole SP11-036, the strike length of the northwesterly-trending
   Portage Zone currently stands at approximately 1,000 meters. Drilling
   confirms this zone persists to depths of at least 300 meters along its
   entire length. True widths of the zone generally range from 90 to 150
   meters, but locally widen to as much as 250 meters. The Portage Zone
   remains open at depth, to the southeast and northwest where it appears
   to plunge underneath the Main Zone. Drilling has commenced on drill hole
   SP11-046 which steps-out a further 100m from drill hole SP10-036;
   steps-outs will continue at 100 meter intervals southeast while the
   weather conditions remain favourable.
--  An extended period of cold weather has allowed winter drilling on the
   ice to continue unhindered at Springpole. Two diamond core rigs are
   infilling gaps in Portage Zone mineralization due to a lack of historic
   drilling, and one rig continues to test its extension to the southeast.
   At present, 4,036 meters of drilling in 17 diamond drill holes have been
   completed since January 10th.
--  The Company is currently mobilizing a fourth rig to the property over
   the winter road; this drill rig has the capacity to diamond drill HQ
   core to depths of 1,000 meters. Once in place, this rig will drill a
   number of holes testing the down-dip continuation of the Portage Zone to
   depths of up to 700 vertical meters below surface. The drill program
   utilizing this drill rig will continue to operate during break-up with
   helicopter support. The first of two barges is in the process of
   mobilizing from dry dock in Ottawa, Ontario and the other, currently
   under construction, will mobilize shortly thereafter. The barges will be
   used to continue exploration on Springpole Lake, as well as infill
   resource drilling.
Summary of Results from Step-Out Hole, SE Portage Zone
--------------------------------------------------
                                            Gold
                                          (grams                Gold
              From        To    Length       per    Length   (oz per
Hole        (meters)  (meters)  (meters)    tonne)    (feet)      ton)
--------------------------------------------------
SP11-036       50.0      58.0       8.0      0.34        26     0.010
              66.0      73.0       7.0      0.34        23     0.010
              87.0     110.0      23.0      0.68        75     0.020
             138.0     163.0      25.0      0.54        82     0.016
             204.0     394.5     190.5      0.90       625     0.026
includes      235.0     373.5     138.5      1.13       454     0.033
includes      276.0     303.0      27.0      2.09        89     0.061
Intervals of no core recovery were encountered at 355.6-358.5,
373.5-376.5, 379.5-382.5 and 385.5-391.5 m
Zones of no recovery were given 0 gold grade in the weighted calculations
above
Hole terminated in mineralization due to bad ground conditions
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff. Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
8 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292 1 meter = 3.28 feet
Summary of Results from Infill Holes from the Portage Zone
--------------------------------------------------
                                            Gold
                                          (grams                Gold
              From        To    Length       per    Length   (oz per
Hole        (meters)  (meters)  (meters)    tonne)    (feet)      ton)
--------------------------------------------------
SP11-035       16.0      20.0       4.0      0.31        13     0.009
              37.0      68.0      31.0      1.01       102     0.029
includes       41.0      45.0       4.0      4.14        13     0.121
              89.0      96.0       7.0      0.35        23     0.010
             105.0     200.5      95.5      1.22       313     0.036
includes      126.0     144.0      18.0      1.53        59     0.045
includes      150.0     170.0      20.0      1.58        66     0.046
includes      178.5     200.5      22.0      1.61        72     0.047
SP11-037       21.0      36.0      15.0      0.47        49     0.014
              54.0     316.5     262.5      0.92       861     0.027
includes      165.0     169.0       4.0      6.78        13     0.198
includes      296.0     314.0      18.0      3.22        59     0.094
includes      312.0     313.0       1.0     27.77         3     0.811
SP11-038 no recovery to 61. 0 meters
              61.0      79.0      18.0      0.89        59     0.026
             121.0     202.0      81.0      1.21       266     0.035
includes      169.0     202.0      33.0      2.19       108     0.064
Intervals of no core recovery were encountered at 148-160 and 166-169 m
Zones of no recovery were given 0 gold grade in the weighted
calculations above
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff. Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths
of 8 meters.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292 1 meter = 3.28 feet



"Given the position of mineralization encountered in hole SP11-036, it appears the Portage Zone has shifted somewhat to the west," comments Dr. Quinton Hennigh technical advisor to Gold Canyon. "We believe movement along east-west oriented post-mineral faults may have displaced the strike continuation of the Portage Zone westward approximately 100 meters. Although hole SP11-036 was terminated in mineralized rock, we are very encouraged that this hole intercepted the Portage Zone and that it now helps us to better understand how to conduct further step-out drilling."

The Winter 2011 Drill Program, now underway, is part on an ongoing program of drilling and remodeling of the Springpole Gold deposit to move it towards prefeasibility. Drilling is planned through early April 2011, at which time work will begin on revising the resource estimate for the deposit. In the event the Company does not complete the planned 9,000 meters of off-the-ice drilling needed to infill the Portage Zone this winter, remaining holes will be designed to be completed from barges beginning in late May or early June.

Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones, including East Extension, Camp and Main, consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometers representing only about 15 percent of the greater alkaline intrusive complex which remains yet to be explored.

--  Diamond drill hole SP11-039 is a vertical hole testing near-surface
   mineralization in the Portage Zone on the 0+550 m section. This hole
   encountered low-grade mineralization beginning at the overburden -
   bedrock interface 60 meters down hole, and continuing down to its target
   depth at 165 meters. The hole ended in mineralization.
--  Gravel deposits up to 35 meters thick were encountered by both holes
   suggesting abnormally thick overburden underlies this area. Elsewhere
   along the Portage Zone, lake sediments seldom exceed a few meters thick.



"We are very excited to see shallow high-grade in the Portage Zone," comments Dr. Quinton Hennigh, a technical advisor to and director of Gold Canyon Resources. "Earlier this winter, we had our first indications of high-grade in hole SP11-033, but the long intercept encountered by hole SP11-040 was completely unexpected. This hole demonstrates that we continue to see lots of potential upside in the Portage Zone, even in areas where we are infill drilling."


Infill Drill Holes - Portage Zone
--------------------------------------------------
                                              Gold
                                            (grams
                                               per                     Gold
                                     Gold tonne) -                  (oz per
             From     To   Length  (grams  top cut            Gold   ton) -
            (met-   (met-    (met-    per to 34.25  Length (oz per  top cut
Hole          ers)    ers)     ers) tonne)      gpt  (feet)    ton) to 1 opt
--------------------------------------------------
SP11-039      60.0   117.0    57.0    0.40     0.40     187   0.012    0.012
            117.0   132.0               no core recovery
            132.0   165.0    33.0    0.53     0.53     108   0.015    0.015
SP11-040      51.0   151.5   100.5    7.23     5.23     330   0.211    0.153
includes      55.5   135.0    79.5    9.01     6.48     261   0.263    0.189
includes      57.0    85.5    28.5   19.73    12.66      93   0.576    0.370
includes      58.5    60.0     1.5  167.66    34.25       5   4.896    1.000
--------------------------------------------------
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
lower cutoff.
Weighted averages were used to calculate all reported intervals.
Internal dilution within reported intervals does not exceed core lengths of
12 meters.
1 troy oz = 31.103 grams
Conversion factor - grams per tonne to troy oz per short ton; g/t divided by
34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet



Conditions remain cold at site where three diamond drills continue to operate. Two drills are drilling infill holes in the Portage Zone while one rig continues to drill step-out holes to the southeast. At present, 5,551 meters of drilling in 22 holes have been completed since January 10th. The Company remains hopeful it may be able to continue the Winter 2011 Diamond Drill Program until the end of March.

In preparation for the summer drill season, two barges have been mobilized to site allowing infill and exploration drilling to resume following break-up; one is assembled and on site and the other is at the staging area awaiting mobilization to site. A fourth diamond drill with capacity to drill HQ core to 1,000 meters is also now on site. This rig, to be positioned on shore, will begin testing the down-dip continuation of the Portage Zone to depths of up to 700 vertical meters below surface. This phase of the drill program is planned to begin operating during break-up with helicopter support.

The Winter 2011 Diamond Drill Program is part of an ongoing program of drilling and remodeling of the Springpole Gold deposit to move it towards prefeasibility. Holes drilled this winter and off barge in summer are expected to allow the Company to revise the resource estimate for the deposit sometime in the second half of 2011.

Gold Canyon Mails Proxy Materials for Upcoming Annual General Meeting; Proposes Changes to the Board of Directors
3/17/2011 1:00:48 PM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Mar 17, 2011 (MARKETWIRE via COMTEX News Network) --

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.

Hole SP11-040 Intersects 100.5 Meters at 7.23 Grams per Tonne Gold
Includes 28.5 Meters at   19.73 Grams per Tonne Gold

Ähnliche Bohrergebnisse gab es von Canaco im Letzten Jahr ein paar Monate später war CANACO eine Mrd. $ Wert. GCU bringt es zurzeit auf ca. 250 Mio$.

www.goldcanyon.ca/i/pdf/Article-Mar15-2011.pdf

Springpole Gold Project Continues to Produce Long Gold Intercepts for Gold Canyon; Including 150 Meters at 2.56 Grams Per Tonne Gold
3/29/2011 8:30:04 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Mar 29, 2011 (Marketwire via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce assays from six new holes from its Winter 2011 Diamond Drill Program at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Results include 150 meters at 2.56 grams per tonne gold (492 feet at 0.075 oz per ton gold) in hole SP11-045A, a vertical infill hole testing the southeast part of the Portage Zone. Included in this interval are 30 meters at 5.69 grams per tonne gold (98 feet at 0.166 oz per ton gold), including 10 meters at 11.11 grams per tonne gold (33 feet at 0.324 oz per ton gold) of similar character to the high grade encountered in hole SP11-040 (100.5 meters at 7.23 grams per tonne reported in a news release dated March 15, 2011) (to see attached map please click on: media3.marketwire.com/docs/gcu329i.pdf).

"These six holes are infill, and they tell us a lot," comments Dr. Quinton Hennigh, a technical advisor to and a director of Gold Canyon. "First, we can now confidently say that mineralization starts at surface down the entire length of the Portage Zone. Second, we now see intervals of high-grade mineralization in drill holes along 300 meters strike along the mid-section of the Portage Zone. Third, we encountered the widest intercept yet across the Portage Zone, a true width of at least 280 meters in hole SP11-042 situated in the far southeast. Lastly, all six holes bottom in mineralization suggesting there is more going on at depth."



Summary of Drill Intercepts from Portage Zone

--------------------------------------------------
                                               Gold
                                             (grams
                                                per                   Gold
                                              tonne)               (oz per
                                       Gold   - top                    ton)
                                     (grams  cut to           Gold   - top
             From       To   Length     per   34.25 Length (oz per  cut to
Hole       (meters) (meters) (meters)  tonne)    gpt  (feet)    ton)  1 opt
--------------------------------------------------
SP11-041    161.00   237.00    76.00    1.50    1.50    249   0.044   0.044

includes    211.50   214.50     3.00   11.56   11.56     10   0.338   0.338

includes    225.00   237.00    12.00    2.05    2.05     39   0.060   0.060

An interval of no core recovery was encountered from 231-232.5 meters.
Hole ends in mineralization at 237 meters.

SP11-042      9.00   411.00   402.00    0.76    0.76   1319   0.022   0.022

includes     17.00    24.00     7.00    1.67    1.67     23   0.049   0.049

includes     57.00   411.00   354.00    0.80    0.80   1161   0.023   0.023

includes    157.00   158.00     1.00   17.83   17.83      3   0.521   0.521

includes    259.00   266.00     7.00    2.04    2.04     23   0.060   0.060

includes    273.00   319.00    46.00    1.54    1.54    151   0.045   0.045

includes    348.00   391.50    43.50    1.52    1.52    143   0.044   0.044

Intervals of no core recovery were encountered from 383.5-385.5, 388.5-390,
402-403.5 and 405-406.5 meters.
Hole ends in mineralization at 411 meters.

SP11-043     42.00   153.00   111.00    2.03    1.24    364   0.059   0.036

includes    112.50   117.00     4.50   36.21   16.77     15   1.057   0.490

includes    112.50   114.00     1.50   92.57   34.25      5   2.703   1.000

An interval of no core recovery was encountered from 42.5-45 meters.
Hole ends in mineralization at 153 meters.

SP11-044    132.00   351.00   219.00    0.71    0.71    718   0.021   0.021

includes    132.00   313.50   181.50    0.84    0.84    595   0.025   0.025

includes    132.00   213.00    81.00    1.07    1.07    266   0.031   0.031

includes    135.00   136.00     1.00   14.74   14.74      3   0.430   0.430

includes    199.50   213.00    13.50    2.20    2.20     44   0.064   0.064

Hole ends in mineralization at 351 meters.

SP11-045     36.00    90.00    54.00    2.15    2.15    177   0.063   0.063

includes     66.00    90.00    24.00    3.17    3.17     79   0.093   0.093

An interval of no core recovery was encountered from 42-43.5 meters.
Hole ends in mineralization at 90 meters.

SP11-045A    63.00   213.00   150.00    2.56    2.43    492   0.075   0.071

includes     76.50   106.50    30.00    5.69    5.03     98   0.166   0.147

includes     93.00   103.00    10.00   11.11    9.15     33   0.324   0.267

includes     99.00   100.00     1.00   53.83   34.25      3   1.572   1.000

includes    210.00   213.00     3.00    9.50    9.50     10   0.277   0.277

includes    212.00   213.00     1.00   23.31   23.31      3   0.681   0.681

Hole ends in mineralization at 213 meters.

--------------------------------------------------
Weighted averages were used to calculate all reported intervals.
Zones of no core recovery were given a gold grade of 0 in the weighted
average calculations above.
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
lower cutoff.
Internal dilution within reported intervals does not exceed core lengths of
12 meters.

1 troy oz = 31.103 grams
Conversion factor - grams per tonne to troy oz per short ton; g/t divided
by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet


Summary of results:

--  Diamond drill hole SP11-045A is a vertical infill hole testing the
   southeast part of the Portage Zone in a shallow area in which no modern
   or historic drilling was previously undertaken. This hole intersected
   150 meters at 2.56 grams per tonne gold (492 feet at 0.075 oz per ton
   gold) including 30 meters at 5.69 grams per tonne gold (98 feet at 0.166
   oz per ton gold) and 10 meters at 11.11 grams per tonne gold (33 feet at
   0.324 oz per ton gold). The nature of this high-grade mineralization is
   very similar in character to that encountered in hole SP11-040 situated
   200 meters northwest. The final meter of this hole assayed 23.31 grams
   per tonne gold (3 feet at 0.681 oz per ton gold).

--  Diamond drill hole SP11-045 is a vertical infill hole drilled a few
   meters from SP11-045A. This hole intercepted 54 meters at 2.15 grams per
   tonne gold (177 feet at 0.063 oz per ton gold) beginning at the top of
   bedrock at 36 meters. This hole was abandoned at 90 meters when its
   casing became dislodged. Hole SP11-045A was collared and drilled a few
   meters away to complete the shallow test of this area.

--  Diamond drill hole SP11-041 was drilled with an azimuth of 220 degrees
   true north and an inclination of -45 degrees and tested intermediate
   depths of the Portage Zone in its mid-section. This hole intersected 76
   meters at 1.50 grams per tonne gold (249 feet at 0.044 oz per ton gold)
   before ending prematurely due to technical problems.

--  Diamond drill hole SP11-042 was drilled with an azimuth of 220 degrees
   true north and an inclination of -45 degrees and tested intermediate
   depths of the Portage Zone at its southeast end. This hole intercepted
   402 meters at 0.76 grams per tonne gold (1,319 feet at 0.022 oz per ton
   gold) beginning at the top of bedrock and continuing to the bottom of
   the hole where it stopped in mineralization. This hole lies
   approximately 100 meters above hole SP10-024 (225 meters at 1.48 grams
   per ton gold reported in a news release dated November 23, 2010). The
   Portage Zone appears to be nearly vertical here, and this intercept
   represents a true width of at least 280 meters.

--  Diamond drill hole SP11-043 is a vertical infill hole testing shallow
   parts of the mid-section of the Portage Zone. This hole intersected 111
   meters at 2.03 grams per tonne gold (364 feet at 0.059 oz per ton gold)
   including a high-grade interval of 4.5 meters at 36.21 grams per tonne
   gold (15 feet at 1.057 oz per ton gold) of similar character to hole
   SP11-040 located 100 meters northwest.

--  Diamond drill hole SP11-044 was drilled with an azimuth of 220 degrees
   true north and an inclination of -45 degrees and tested intermediate
   depths of the Portage Zone in its mid-section. This hole intersected 219
   meters at 0.71 grams per tonne gold (718 feet at 0.021 oz per ton gold)
   and ended in mineralization.