VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/18/13 -- Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINKSHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce it has reached agreement on a Negotiation Protocol (the "Agreement") with local First Nations in relation to its 100% controlled Springpole Gold Project located approximate 110 kilometers northeast of Red Lake, Ontario. Each of the Cat Lake First Nation, the Lac Seul First Nation, and the Slate Falls Nation (the "Protocol Nations") are party to the Agreement that sets a constructive framework to negotiate an Exploration Accommodation Agreement that will support Gold Canyon's activities as it advances this important gold project.
Gold Canyon values its relationship with the Protocol Nations and is committed to maintaining a collaborative and mutually beneficial working relationship in support of Gold Canyon's exploration within the asserted traditional territories of these First Nations. The Springpole Gold Project provides a strong opportunity for the Protocol Nations' economic and community development. This Agreement sets the foundation for the respectful relationship that will enable Gold Canyon and the Protocol Nations to move forward with further discussion of the Project, maximize opportunities, and openly address any concerns that may arise. It will assist greatly in further timely discussions between Gold Canyon and the Protocol Nations as the Project moves forward.
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 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.
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 a minority interest in the 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.
Gold Canyon entered into a Rare Earth Element (REE) 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.
Akiko Levinson, President & Director
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.
Gold Canyon Resources Inc.
(604) 682-3234 or Toll free: 1 (888) 242-3234
(604) 682-0537 (FAX)
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