Gold Canyon Updates Joint Exploration Agreement With the Japan Oil, Gas and Metals National Corporation

* Reuters is not responsible for the content in this press release.

Tue May 19, 2009 9:01am EDT

  VANCOUVER, BRITISH COLUMBIA, May 19 (MARKET WIRE) -- 
Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold
Canyon" or "the Company") is pleased to announce that its wholly owned
subsidiary Gold Canyon Kratz Spring LLC and its joint venture participant
Japan Oil, Gas and Metals National Corporation (JOGMEC) have reached an
agreement for the April 2009 - March 2010 fiscal year work program and
budget on May 15, 2009. Under the terms of the Joint Exploration
Agreement (JEA), JOGMEC holds an 80% option to all of the JEA projects
and the budget of US $460,000 was approved for this fiscal year.

    The JEA was entered into on January 19, 2009. Gold Canyon Kratz Spring
LLC, as the operator of the JEA, will conduct Rare Earth Element (REE)
exploration and project identification. The objective of the JEA is to
identify, analyze and perform metallurgical evaluations leading to
production of REEs from Iron Oxide Copper Gold +/-Rare Earth Element
(IOCG+/-REE) style deposits.

    JOGMEC is a government organization established under the Japanese
Ministry of Economy, Trade and Industry, and is responsible for fostering
international exploration and development of strategic minerals, amongst
other mineral and petroleum related activities.

    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 Shoreham
Resources Inc. 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.

    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.

Contacts:
Gold Canyon Resources Inc.
Akiko Levinson
President & Director
(604) 682-3234 or Toll free: 1 (888) 242-3234
(604) 682-0537 (FAX)
info@goldcanyon.ca
www.goldcanyon.ca

Copyright 2009, Market Wire, All rights reserved.

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