Canyon Reports Positive Cecil R Drilling

GOLDEN, CO - Canyon Resources Corporation reported the results of a 15-hole 4,800 foot reverse circulation drilling campaign completed in January at its Cecil R property located five miles north of its Briggs Mine in Inyo County, California.
Highlights from the latest drilling campaign include: ¥ Hole CR07-5 with 25 feet (7.6 meters) of 0.039 ounce per ton ("opt") Au (1.35 gram per tonne ("gpt") Au).
¥ Hole CR07-9 with 25 feet (7.6 meters) of 0.045 opt Au (1.54 gpt Au). ¥ Hole CR07-12 with 30 feet (9.1 meters) of 0.025 opt Au (0.87 gpt Au). ¥ Hole CR08-13 with 30 feet (9.1 meters) of 0.032 opt Au (1.10 gpt Au) and a second interval of 50 feet (15.2 meters) of 0.024 opt Au (0.817 gpt Au).
"This additional drilling information on the Cecil R property supports
Canyon's belief that Cecil R, as a satellite deposit to our Briggs Mine,
could significantly add both mine life and profitability should we proceed
with surface and underground development at Briggs. Planning and permitting
at Cecil R would require an estimated three years and would be initiated
once mining re-starts at the Briggs Mine. The known mineralization at Cecil
R could potentially extend the life of the Briggs Mine by approximately
three years," comments James Hesketh, President and CEO.
The goal of this drilling program was to expand known gold
mineralization that is found in a tabular body at a low angle contact
surface between poorly sorted bedded gravels and a gold-enriched erosion
surface on crystalline basement rock. Mineralization pinches and swells and
is locally cut out along this contact. Drill holes in this program tested
the extensions of known gold mineralization to the north and the west and
provided sufficient infill information to facilitate a new resource
evaluation. The completed drilling substantially extended the known
gold-bearing horizon to the north and west beyond the limits of the
previous estimate of mineralization. The ridge immediately to the south of
the known mineralization shows the same prospective gold-bearing horizon
exposed along its flanks and in historic exploration workings. The contact
zone, exposed immediately below the gravel cover along gullies cutting this
ridge, is well developed and offers an attractive target for expanding the
mineralized zone.
Previous to this drilling campaign, an estimate of 5.75 million tons of
in-place mineralized material grading 0.024 opt, using a cut-off grade of
0.015 opt, had been calculated for the Cecil R deposit. This estimate is
based on the 51 holes drilled at Cecil R from 1975 to 2006.
The company's address is 14142 Denver West Parkway, Suite 250, Golden, CO 80401, (303) 278-8464, fax: (303) 279-3772.