Gold Canyon Stakes Additional Claims Adjacent to Cordero Gallium Property: Financial News

Gold Canyon Stakes Additional Claims Adjacent to Cordero Gallium Property
Thursday April 17, 2008 6:00 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 17, 2008 -- Gold Canyon Resources Inc. (CDNX:GCU.V - News)(Other OTC:GDCRF.PK - News) ("Gold Canyon" or "the Company") is pleased to announce that as part of its ongoing strategy for advancing the Cordero Gallium Project it has staked an additional 102 Lode Mining Claims and 48 Millsite Claims, contiguous to its Cordero Gallium Project in Humboldt County, Nevada.

On February 11, 2008, the Company announced an updated NI 43-101 Technical Report and Resource Estimation for the Cordero Gallium Project prepared by Mr. Tim Carew of reserva INTERNATIONAL LLC, a qualified person independent of the Company which disclosed the following:

 

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                                         Metric      Gallium       Gallium
Category                                 Tonnes         (PPM)    Metal (kg)
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Measured                              1,088,300         52.4        57,020

Indicated                            13,882,800         47.3       656,910
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Total Measured & Indicated           14,971,100         47.7       713,930
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Total Inferred                        6,591,600         43.7       334,590
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Cordero Project Mineral Resources above 30 PPM Gallium (Rounded)

A complete copy of the updated Technical Report dated January 2008 is available on the Company's website (www.goldcanyon.ca) and through SEDAR (www.sedar.com).

The Cordero property has the largest known primary gallium resource in North America and remains open along strike and down dip.

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

About Gold Canyon Resources Inc.:

Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and the Bear Head Uranium Project which is adjacent to their Favourable Lake Poly-metallic property currently under option to Shoreham Resources Inc. pursuant to an option and joint venture agreement entered into in December 2005 - 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.

Akiko Levinson, President & Director

Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "plans", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and are also significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.

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

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