[Marinir] {Disarmed} Gold Canyon (TSX-V: GCU) Drills 286 Metres of 1.03 g/t Gold

[Bull Ventures]

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http://www.goldcanyon.ca/s/Home.asp 

GOLD CANYON INTERCEPTS 286 METERS AT 1.03 GRAMS PER TONNE GOLD 
CONFIRMING NORTHEAST DIP OF PORTAGE ZONE AT SPRINGPOLE GOLD PROJECT 

Gold Canyon Resources Inc. (TSX Venture Exchange: GCU 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=GCU®ion=C&lookup=symbol&snapshot=default 

) ("Gold Canyon" or "the Company") is pleased to announce hole SP11-071 
intersected 286 meters at 1.03 gram per tonne gold (938 feet at 0.030 oz 
per ton gold) including 197 meters at 1.30 grams per tonne gold (646 
feet at 0.038 oz per ton) at its 100% controlled Springpole Gold 
Project, located 110 kilometers northeast of the Red Lake Mining Camp, 
Ontario, Canada. The intercept encountered in this hole indicates that 
the Portage Zone dips northeast at approximately -70 degrees and remains 
open at depth. 

Diamond drill hole SP11-071 intersected 286 meters at 1.03 gram per 
tonne gold (938 feet at 0.030 oz per ton gold) including 197 meters at 
1.30 grams per tonne gold (646 feet at 0.038 oz per ton). This hole, 
situated on the 0+00 meter section, is oriented at 220 degrees true 
north with an inclination of -60 degrees. The drill hole undercuts 
previous drilling on this section including hole SP10-024 (225 meters at 
1.48 grams per tonne gold announced in a news release dated November 23, 
2010). The intercept encountered in SP11-071 indicates that the Portage 
Zone dips northeast at approximately -70 degrees and remains open at 
depth. 

Previous to drilling hole SP11-071, the Portage Zone was believed to dip 
at approximately -75 degrees southwest with a true width estimated at 
about 140 meters. The newly interpreted geometry results in a true 
thickness of approximately 220 meters in this area. 

The Company has plans to step back and drill under hole SP11-071 to 
further evaluate the continuation of the Portage Zone at depth. Drilling 
is underway along strike from this intercept to the southeast where it 
is believed mineralization should continue. 

"Earlier this year, we tested the depth extension of the Portage Zone by 
drilling hole SP11-063 from the southwest shore to the northeast," 
states Dr. Quinton Hennigh, Technical Advisor to and Director of Gold 
Canyon Resources. "As it turns out, that hole drilled down the southwest 
margin of the deposit encountering its low grade fringe. Hole SP11-071 
clearly indicates the deposit dips northeast, is wider than previously 
thought, and remains open at depth." 

Summary of Results from SP11-071 

Hole From 

(meters) To 

(meters) Length 

(meters) Gold 

(grams 

per tonne) Length 

(feet) Gold 

(oz 

per ton) 

SP11-071 149.0 435.0 286.0 1.03 938 0.030 

includes 211.0 408.0 197.0 1.30 646 0.038 

includes 250.0 284.0 34.0 2.92 112 0.085 

includes 272.0 281.0 9.0 5.53 30 0.161 

includes 333.0 345.0 12.0 2.43 39 0.071 

includes 391.0 396.0 5.0 3.55 16 0.104 

Weighted averages were used to calculate all reported intervals 

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 5 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 

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. 

Operational Update 

The numerous forest fires in the area that caused delays earlier this 
summer have diminished. Two barge-based and two land-based drills are 
currently operating on site and will continue through freeze-up, likely 
in early November. Approximately 4,000 meters of core have been drilled 
so far this summer, and it is expected that the drills should produce 
around 10,000 meters of core, somewhat less than the 12,000 meters that 
was originally planned. Holes drilled this summer are expected to allow 
the Company to revise the 43-101 compliant resource estimate for the 
deposit sometime late in the second half of 2011. 

About Springpole 

Springpole is an alkaline intrusion hosting a gold system that 
represents a potentially new style of Canadian Archean Shield gold 
deposit. The Portage zone is hosted by a trachytic porphyry intrusion 
displaying polyphase autolithic breccias that host gold mineralization. 
Other zones including the East Extension, Camp and Main, consist of 
high-grade veins and pods hosted in diatreme breccias composed of 
intrusive and country rock fragments. These 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 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 

http://www.goldcanyon.ca 

Akiko Levinson, 

President & Director 

For further information, please contact: 

Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 682-0537 
info at goldcanyon.ca 

Investor Relations: Leo Karabelas, Tel: (416) 543-3120 Email: 
leo at frontlineir.com 

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. 

For more information about this service, please see: 
www.infostockbiz.com 

http://www.infostockbiz.com 

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