[Marinir] {Disarmed} Canyon Copper Assays 545 ft of 0.40% Copper - Plans Revised Resource Estimate And Starts Permitting For Copper Oxide Drilling

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CANYON COPPER CORP. PLANS TO REVISE 2010 LONGSHOT RIDGE RESOURCE 
ESTIMATE 

STARTING PERMITTING FOR COPPER OXIDE DRILLING AT MOONLIGHT COPPER 
PORPHYRY PROPERTY 

Canyon Copper Corp. ( CNC 

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

: TSX-V) (OTCBB: CNYC 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=CNYC&region=U&lookup=symbol&snapshot=default 

) is pleased to announce that Giroux Consultants have been engaged to 
incorporate the 2006 drill program results into the 2010 Long Shot Ridge 
oxide resource estimate, which included an indicated mineral resource 
estimate, at a cut-off grade of 0.2% copper, of 16,250,000 tons at an 
average grade of 0.43% Cu, and inferred mineral resource estimate, at 
cut-off grade of 0.2% copper, of 2,900,000 tons at an average grade of 
0.31% Cu (see National Instrument 43-101 ("NI 43-101") Technical Report 
filed on SEDAR on May 6, 2010 and news release dated May 3, 2010). 

The 33 drill holes in 2006, comprised of 26 reverse circulation holes 
totaling 8,818 ft (2,688 meters) and 7 HQ core holes totaling 2,805 feet 
(855 meters), were not included in the 2010 resource estimate due to 
extremely high variability in the duplicate, blank and standard check 
samples. Canyon anticipates that the following drill holes will confirm 
and add areas with grades close to the cutoff grade of 0.2% copper or 
better that was used in the earlier resource estimate: 

Hole # Depth Depth Intersection Total Copper 

(C=Core, 

R=Reverse 

Circulation) From (m) To (m) meters Average 

Grade % 

06-11-R 0.00 70.10 70.10 0.18 

06-15-R 0.00 59.44 59.44 0.15 

06-16-R 0.00 64.01 64.01 0.15 

06-18-R 0.00 64.10 64.10 0.22 

06-20-R 0.00 68.58 68.58 0.13 

06-21-R 3.05 60.96 57.91 0.31 

06-22-R 0.00 108.20 108.20 0.19 

06-24-R 0.00 35.05 35.05 0.21 

06-28-R 0.00 16.76 16.76 0.68 

06-30-R 0.00 68.58 68.58 0.19 

06-31-R 0.00 166.12 166.12 0.40 

06-32-C 3.05 28.95 25.90 0.16 

06-33-C 0.00 105.16 105.16 0.37 

Note 7 holes did not have any assay due to small pulp size. 

Proposed Drill Program on Longshot Ridge 

In late 2012, Canyon plans to drill test oxide mineralization that was 
identified to the north and northeast of the Longshot Ridge deposit. Two 
other areas of oxide copper occur in the north central part of the 
claims, the Buffington Springs and the Powerline Showings. These have 
yet to be assessed but have potential as additional sources of oxide 
copper. Historically, high grade oxide copper was hand mined from these 
two areas for direct shipment. 

Proposed Drill Program on Moonlight Property 

Canyon is also pleased to announce that it has started permitting for a 
shallow reverse drill program at the Moonlight copper oxide deposit in 
order to establish a resource estimate of the oxide mineralization in a 
manner compliant with NI 43 101 regulations. The drill program is 
planned for early summer 2012 and will be greatly facilitated by the 
network of new logging roads in the area. In support of this work the 
old drill core, in storage in nearby Crescent Mills, will be re-logged 
to confirm the limits of the oxide mineralization. As previously 
disclosed, the Moonlight copper oxide deposit represents a significant 
target for the Canyon's exploration and in 1972 American Exploration and 
Mining Company ("Amex"), a wholly owned subsidiary of Placer Dome, in 
1972 internal report by C. Gillette, a mining engineer employee of Amex, 
reported a historical oxide "resource" of 12.2 million tons of "ore" at 
an average grade of 0.54% Cu at a cutoff grade of 0.25% Cu, overlain by 
10.8 million tons of "waste". This "waste" was so characterized because 
of a lack of assaying of the top 3 - 9.1 meters (10 – 30 feet) of 
the drill holes. Sheffield recovered more than 0.25% copper from 
virtually all the near surface material when drilling adjacent to holes 
where Amex had drilled and reported 6m (20 feet) of overburden. This 
suggests a target size for the oxide resource could be larger than the 
preliminary Amex estimate. The historical "ore" cited above is mentioned 
for historical purposes only and uses terminology not compliant with 
current reporting standards. The reliability of these historical 
estimates is unknown but considered relevant by Canyon as it represents 
a significant target for future exploration work by Canyon. The 
qualified person has not made any attempt to re-classify the estimates 
accordingly to current NI 43-101 standards of disclosure or the CIM 
definitions. Canyon is not treating this estimate as current mineral 
resources or mineral reserves as defined in NI 43-101. Historical "ores" 
are not equivalent to mineral reserves or resources as they are not 
supported by at least a feasibility study. 

Canyon is focusing on the oxide deposits at the start of the exploration 
and development of both the New York Canyon and the Moonlight Copper 
properties for the following reasons: 

Both have the potential to be brought into production in a shorter time 
than the much larger operational size that is represented by the 
sulphide bodies associated with the oxide bodies. 

The capital and operating expense for a copper leach operation would be 
expected to be much less than that of a larger sulphide recovery plant. 

The oxide deposits can produce high quality cathode copper that is often 
sold promptly at a premium to the traditional refined metal prices for 
copper. 

Sulphide concentrates are sold to a smelter and are subject to variable 
treatment and refining charges (TC/RC), currently at about $80/tonne of 
90% of the contained copper in the concentrate, and higher freight costs 
as the sulphide has generally less than 30% by weight of copper in it 
result in the need to pay freight of about 70% waste with the copper. 
Payment may take months to complete through times of varying metal 
prices and foreign exchange rates. 

Qualified Person 

Benjamin Ainsworth, P. Eng, BC, with Licence #8648 and the President of 
Canyon, is a Qualified Person as defined by NI 43-101 and has reviewed 
and approved the contents of this news release. 

On behalf of the Board of Directors, 

"Benjamin Ainsworth" 

CANYON COPPER CORP. 

Benjamin Ainsworth, President 

Contact: 

Canyon Copper Corp. 

Investor Relations 

1-888-331-9326 

(604) 331-9326 

(604) 684-9365 (FAX) 

info at canyoncc.com 

Cautionary Statement Regarding Forward Looking Information 

This News Release may contain, in addition to historical information, 
forward-looking statements within the meaning of Section 27A of the 
Securities Act of 1933, as amended, and section 21E of the Securities 
Exchange Act of 1934, as amended. These forward-looking statements are 
identified by their use of terms and phases such as "believe," "expect," 
"plan," "anticipate" and similar expressions identifying forward-looking 
statements. Investors should not rely on forward-looking statements 
because they are subject to a variety of risks, uncertainties and other 
factors that could cause actual results to differ materially from 
Canyon's expectations, and expressly does not undertake any duty to 
update forward-looking statements. These factors include, but are not 
limited to the following, Canyon's ability to implement its proposed 
drill programs on the Moonlight Property and the New York Canyon 
Project, Canyon's ability to obtain additional financing, uncertainty of 
estimates of mineralized material and other factors which may cause the 
actual results, performance or achievements of Canyon to be materially 
different from any future results, performance or achievements expressed 
or implied by such forward-looking statements. 

Cautionary Note to U.S. Investors Regarding Estimates of Measured, 
Indicated and Inferred Resources 

This News Release may use the terms "measured", "indicated" and 
"inferred" "resources." We advise U.S. investors that while these terms 
are recognized and required by Canadian regulations, the SEC does not 
recognize them. "Inferred resources" have a great amount of uncertainty 
as to their existence, and great uncertainty as to their economic and 
legal feasibility. It cannot be assumed that all or any part of an 
"inferred mineral resource" will ever be upgraded to a higher category. 
Under Canadian rules, estates of "inferred mineral resources" may not 
form the basis of a feasibility study or prefeasibility studies, except 
in rare cases. The SEC normally only permits issuers to report 
mineralization that does not constitute "reserves" as in-place tonnage 
and grade, without reference to unit measures. U.S. investors are 
cautioned not to assume that any part or all of a measured, indicated or 
inferred resource exists or is economically or legally mineable. 

NEITHER 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 RELEASE. 

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