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30 April 2008


Gold Canyon ups claims on Cordero gallium property

Mineral exploration firm Gold Canyon Resources Inc of Vancouver, Canada has retained SRK Consultants (US) Inc to undertake an environmental planning study and geo-hydrological study as part of its ongoing strategy for advancing its Cordero Gallium Project in Humboldt County, NV, USA (owned through US subsidiary Gold Canyon Resources USA Inc).

SRK will provide a scoping level assessment of environmental permitting requirements, including: an inventory of applicable state permit requirements; a review of comparable permitting efforts for similar-size projects in Nevada; a scoping level schedule for environmental permitting.

SRK will also provide a technical memorandum summarizing the findings of the geo-hydrological assessment.

Also, in mid-April, Gold Canyon staked additional claims, contiguous to Cordero. The property is estimated to hold the largest known primary gallium resource in North America.

On 11 February, the firm announced the completion of an updated National Instrument (NI) 43-101 technical report and resource estimation for Cordero prepared by Tim Carew of reserva International LLC, an independent mining consultant.

reserva’s previous estimate of April 2006 reported indicated resources containing 337,360kg of gallium. This has now been more than doubled to 713,930kg.

The expansion of the gallium resource is based on an additional 18,850ft (5745m) of reverse circulation (RC) drilling in 81 RC drill holes completed by in 2006 and 2007. This brings the total drilling to 39,985ft (12,190m) in 163 RC drill holes.

Gold Canyon is hence moving forward with collection of a bulk sample for metallurgical testing in partial preparation for commencing a pre-feasibility study.

Earlier, in February, Gold Canyon said that large-diameter core drilling (announced in late November) had started at Cordero to complement the collection of bulk samples. At least US$1m is budgeted to these meet objectives and take Cordero to the next stage. This follows Gold Canyon raising $3m in mid-December in a private placement of common shares.

The Cordero drilling program and metallurgical work is being conducted for Gold Canyon under the supervision of mine consultant Douglas Christopherson (a qualified person, as defined by NI 43-101), who is responsible for the preparation of technical information. A copy of the updated technical report from 28 January is available at Gold Canyon's website.

*At its annual general meeting of shareholders on 24 April, existing directors Akiko Levinson, Ron Schmitz, Ivan Obolensky, Duncan Riesmeyer and Vincent Della Volpe were re-elected for the coming year, and new nominees Garry Smith and Douglas Christopherson were also elected as directors.

See related items:

Gold Canyon starts large-diameter core drilling for gallium

Gold Canyon closes private placement for $3m

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