Gold Canyon Intercepts 292.5 Meters at 1.13 Grams Per Tonne Gold at Springpole Gold Project-Stakes Additional 10,000 Acres

VANCOUVER, BRITISH COLUMBIA, May 31, 2011 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: CGU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce assays from the final four holes of its Winter 2011 Diamond Drill Program at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Results include 292.5 meters at 1.13 grams per tonne gold (959 feet at 0.033 oz per ton gold) including 198.5 meters at 1.42 grams per tonne gold (651 feet at 0.041 oz per ton gold) in hole SP11-059 drilled in the southeast part of the Portage Zone.

"Our infill drilling this winter continues to demonstrate remarkable consistency within the Portage Zone," comments Dr. Quinton Hennigh, Technical Advisor and Director of Gold Canyon Resources. "Although it is too early to estimate the average grade of the deposit, the weighted average grade of all 2010-11 drill intercepts in the Portage Zone is 1.30 grams per tonne. We believe the Portage Zone will prove to be one of the highest grade bulk tonnage projects in the Shield."

Summary of New Gold Assays from the Portage Zone
                                                   Gold
                    From        To    Length     (grams    Length  Gold (oz
Hole             (meters)  (meters)  (meters) per tonne)    (feet)  per ton)
----------------------------------------------------------------------------
  SP11-057          91.5     312.0     220.5       0.84       723     0.025
  includes         229.5     303.0      73.5       1.32       241     0.039
Zones of no recovery from 216-229.5 and 246-247.5 meters
  SP11-059          72.0     364.5     292.5       1.13       959     0.033
  includes         166.0     364.5     198.5       1.42       651     0.041
  includes         244.5     278.0      33.5       2.14       110     0.062
  includes         290.0     325.0      35.0       2.37       115     0.069
  includes         360.0     364.5       4.5       2.55        15     0.074
Zone of no recovery from 343.5-345 meters
  SP11-060          51.0     255.0    204. 0       1.15       669     0.034
  includes         145.0     163.5      18.5       2.41        61     0.070
  includes         159.0     163.5       4.5       6.61        15     0.193
Zones of no recovery from 180-181.5 and 231-234 meters
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff.
Internal dilution within reported intervals does not exceed core lengths of
13.5 meters.
Weighted averages were used to calculate all reported intervals.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet
Summary of Gold Assays from Exploration Drill Hole
                                                   Gold
                    From        To    Length     (grams    Length  Gold (oz
Hole             (meters)  (meters)  (meters) per tonne)    (feet)  per ton)
----------------------------------------------------------------------------
 SP11-055           18.0      33.0      15.0       0.36        49     0.011
                    82.0      93.0      11.0       0.39        36     0.011
                   139.0     173.0      34.0       0.33       112     0.010
                   337.0     355.0      18.0       0.40        59     0.012
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff.
Internal dilution within reported intervals does not exceed core lengths of
2 meters.
Weighted averages were used to calculate all reported intervals.
1 troy ounce = 31.103 grams
Conversion factor - grams per tonne to troy ounces per short ton; g/t
divided by 34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet

Summary:

--  Diamond drill hole SP11-059, oriented with an azimuth of 220 degrees
    true north and an inclination of -45 degrees, tested the southeast part
    of the Portage Zone at depths of about 150-250 meters. This hole
    intersected 292.5 meters at 1.13 grams per tonne gold (959 feet at 0.033
    oz per ton gold) including 198.5 meters at 1.42 grams per tonne gold
    (651 feet at 0.041 oz per ton gold). The last meter of this hole assayed
    3.60 grams per tonne gold (0.105 oz per ton gold).
--  Diamond drill hole SP11-057, oriented with an azimuth of 220 degrees
    true north and an inclination of -45 degrees, tested the mid-section of
    the Portage Zone at depths of about 150-250 meters. This hole
    intersected 220.5 meters at 0.84 grams per tonne gold (723 feet at 0.025
    oz per ton gold).
--  Diamond drill hole SP11-060 is a vertical hole drilled in the mid-
    section of the Portage Zone. This hole intersected 204 meters at 1.15
    grams per tonne gold (669 feet at 0.034 oz per ton gold). Mineralization
    starts immediately beneath the lake sediment-bedrock interface and
    continues to the bottom of the hole.
--  Diamond drill hole SP11-055 is an exploration hole collared
    approximately 615 meters southeast of hole SP11-059 and drilled with an
    azimuth of 220 degrees true north and an inclination of -45 degrees.
    This hole encountered multiple intervals of low-grade gold
    mineralization.
--  A table attached to this press release summarizes all drill intercepts
    from the Portage Zone from the 2010-11 Diamond Drill Campaign. Although
    the average grade of the deposit has yet to be calculated, the weighted
    average grade of these drill intercepts is 1.30 grams per tonne gold.
--  SP11-062, the first of a series of deep drill holes was collared on the
    southwest shore of the bay on the 0+00 section with an azimuth of 40
    degrees true north and an inclination of -45 degrees. This hole was lost
    in bad ground at 467 meters. Assays are expected back within 1-2 weeks.
    A second attempt to drill this hole, SP11-063, was collared a few meters
    away and is currently in progress at a depth of approximately 830
    meters. It is expected to reach its targeted depth of 1,000 meters some
    time in early June.
--  Drilling from a pair of barges is expected to begin in mid to late June.

Claim Staking

Gold Canyon increased its property position at the Springpole Gold Project by staking approximately 10,000 additional acres of land. These new claims adjoin the existing claim block and increase the property size by approximately 50%. Although the entirety of known porphyry rocks with associated gold mineralization fall within the old claim block, these new claims give the Company a strategic position for developing future infrastructure critical to the advancement of the project.

Summary of Gold Assays from 2010-11 Drill Holes from Portage Zone
Numbers in italics have been announced in previous news releases
                                                   Gold
                    From        To    Length     (grams    Length  Gold (oz
Hole             (meters)  (meters)  (meters) per tonne)    (feet)  per ton)
----------------------------------------------------------------------------
  SP10-001          12.5      64.0      51.5       0.93       169     0.027
  SP10-002         242.0     335.0      93.0       2.40       305     0.070
  SP10-004          31.0     182.0     151.0       0.72       495     0.021
  SP10-005         202.0     268.0      66.0       1.88       216     0.055
  SP10-006         278.0     363.0      85.0       0.93       279     0.027
  SP10-007          33.0     250.0     217.0       1.57       712     0.046
  SP10-008        257. 0     451.0     194.0       1.22       636     0.036
Zone of no recovery from 316-328 meters
  SP10-009           3.0     167.0     164.0       1.02       538     0.030
                   214.0     322.0     108.0       1.38       354     0.040
Zone of no recovery from 238-244 meters
  SP10-011           0.0      36.0      36.0       1.58       118     0.046
                    73.0     128.0      55.0       0.50       180     0.015
                   229.0     323.0      94.0       2.51       308     0.073
  SP10-012         275.0     408.0     133.0       0.79       436     0.023
Zones of no recovery from 314-317, 329-332 and 362-365 meters
  SP10-016         206.0     511.0     305.0       1.03      1000     0.030
Zones of no recovery from 247-250 and 445-448 meters
  SP10-019         182.0     489.0     307.0       1.44      1007     0.042
Zones of no recovery from 418-421 and 430-442 meters
  SP10-022         155.0     378.0     223.0       1.45       731     0.042
  SP10-024         166.0     391.0     225.0       1.48       738     0.043
Zones of no recovery from 205-208 and 210.6-211 meters
  SP10-025         215.0     253.0      38.0       1.53       125     0.045
  SP10-026          54.0     407.0     353.0       1.17      1158     0.034
  SP10-028         361.0     469.0     108.0       1.75       354     0.051
Zones of no recovery from 394-400 and 439-445 meters
  SP10-029         301.0     433.0     132.0       2.30       433     0.067
Zones of no recovery from 337-340, 364-370 and 418-421 meters
  SP11-030          14.0      73.0      59.0       2.51       194     0.073
  SP11-031           5.4      91.0      85.6       1.09       281     0.032
  SP11-032          13.0      70.0      57.0       0.54       187     0.016
  SP11-033          13.0     315.0     302.0       1.39       991     0.041
Zones of no recovery from 146.5-148, 203.5-205, 235-236.5, 239.5-244 and
 302.5-304 meters
  SP11-034          37.0     110.5      73.5       1.18       241     0.034
                   162.0     331.0     169.0       1.08       554     0.032
  SP11-035          37.0      68.0      31.0       1.01       102     0.029
                   105.0     200.5      95.5       1.22       313     0.036
  SP11-036         204.0     394.5     190.5       0.90       625     0.026
Zones of no recovery from 355.6-358.5, 373.5-376.5, 379.5-382.5 and 385.5-
 391.5 meters
  SP11-037          54.0     316.5     262.5       0.92       861     0.027
  SP11-038          61.0      79.0      18.0       0.89        59     0.026
                   121.0     202.0      81.0       1.21       266     0.035
Zones of no recovery from 148-160 and 166-169 meters
  SP11-039          60.0     117.0      57.0       0.40       187     0.012
                   132.0     165.0      33.0       0.53       108     0.015
  SP11-040          51.0     151.5     100.5       7.23       330     0.211
  SP11-041         161.0     237.0      76.0       1.50       249     0.044
Zone of no recovery from 231-232.5 meters
  SP11-042           9.0     411.0     402.0       0.76      1319     0.022
Zones of no recovery from 383.5-385.5, 388.5-390, 402-403.5 and 405-406.5
 meters
  SP11-043          42.0     153.0     111.0       2.03       364     0.059
Zone of no recovery from 42.5-45 meters
  SP11-044         132.0     351.0     219.0       0.71       718     0.021
  SP11-045          36.0      90.0      54.0       2.15       177     0.063
Zone of no recovery from 42-43.5 meters
  SP11-045A         63.0     213.0     150.0       2.56       492     0.075
  SP11-046          34.0      63.0      29.0       0.57        95     0.017
                   238.0     306.5      68.5       0.82       225     0.024
Zone of no recovery from 294.5-296 meters
  SP11-047          22.7     177.0     154.3       0.99       506     0.029
  SP11-048         121.0     315.0     194.0       1.11       636     0.032
Zone of no recovery from 153-156 meters
  SP11-049          20.0     152.0     132.0       1.37       433     0.040
  SP11-050         139.0     247.0     108.0       0.54       354     0.016
                   304.0     328.0      24.0       0.63        79     0.018
Zones of no recovery from 244.5-246 and 282-283.5 meters
  SP11-051          14.0     164.0     150.0       1.15       492     0.034
  SP11-052          19.0     158.0     139.0       1.04       456     0.030
  SP11-053          11.4      21.0       9.6       2.95        31     0.086
                   130.0     321.0     191.0       1.08       626     0.032
                   340.0     351.0      11.0       1.19        36     0.035
Zones of no recovery from 217.5-220.5 and 237-240 meters
  SP11-054          23.0     165.0     142.0       0.81       466     0.024
Zone of no recovery from 30-31.5 meters
  SP11-056          55.5     228.0     172.5       0.93       566     0.027
Zones of no recovery from 166.5-168, 172.5-174, 193.5-195 and 208.5-210
 meters
  SP11-057          91.5     312.0     220.5       0.84       723     0.025
Zones of no recovery from 216-229.5 and 246-247.5 meters
  SP11-058          48.4     159.0     110.6       2.48       363     0.072
  SP11-059          72.0     364.5     292.5       1.13       959     0.033
Zone of no recovery from 343.5-345 meters
  SP11-060          51.0     255.0     204.0       1.15       669     0.034
Zones of no recovery from 180-181.5 and 231-234 meters
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold)
cutoff.
Internal dilution within reported intervals does not exceed core lengths of
13.5 meters.
Weighted averages were used to calculate all reported intervals.
1 troy ounce = 31.103 grams
multiplied by 0.0292
1 meter = 3.28 feet

The ongoing diamond drill program is part of an effort to move the Springpole Gold deposit towards prefeasibility. Holes drilled this winter and from a pair of barges in summer are expected to allow the Company to revise the 43-101 compliant resource estimate for the deposit sometime late in the second half of 2011.