Gold Canyon Adds Significant Strike to the Portage Zone at Springpole Gold Project

VANCOUVER, BRITISH COLUMBIA, Sep 29, 2011 (MARKETWIRE via COMTEX News Network) --

Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce step-out diamond drill holes SP11-074 and -078 have added significant strike to the southeast end of the Portage Zone at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Although historic drilling suggested mineralization was present in this area, the long gold intercepts encountered in holes SP11-074 and -078 clearly demonstrate continuity of mineralization to at least the 0-200 m section.

To view Map 1 - Plan section please visit the following link: http://media3.marketwire.com/docs/Plan_Section929.jpg

To view Map 2 - Drill plan please visit the following link: http://media3.marketwire.com/docs/Drill_Plan929.jpg

--  Diamond drill hole SP11-074 intersected 369 meters at 0.91 grams per
    tonne gold (1210 feet at 0.027 oz per ton gold), one of the longest
    continuous mineralized intervals yet encountered at Springpole. This
    hole was collared on the 0-050 m section and drilled at 220 degrees true
    north with an inclination of -45 degrees. The interval encountered in
    SP11-074 is remarkably similar to hole SP11-042 (402 meters at 0.76
    grams per tonne gold announced in a press release dated March 29, 2011).
--  Diamond drill hole SP11-078 encountered multiple intervals of
    mineralization including 114 meters at 0.58 grams per tonne gold (374
    feet at 0.017 oz per ton gold). This hole was collared on the 0-150 m
    section and drilled at 220 degrees true north with an inclination of -45
    degrees. Results from hole SP11-078 are very similar to nearby hole
    SP11-046 (announced in a press release dated April 14, 2011). Like SP11-
    046, it is believed that the results from SP11-078 indicate that the
    drill hole passed through the upper margin of the Portage Zone. If so,
    this would imply that the Portage Zone is plunging to the southeast.
--  Results from SP11-074 and -078 are interpreted to indicate that the
    Portage Zone remains open along strike and at depth to the southeast.
    Additional drilling to test areas underneath SP11-078 and further along
    strike is planned for later this fall or early winter.

"We are very pleased with the results from our step-out holes," states Dr. Quinton Hennigh, technical advisor and Director of Gold Canyon Resources. "Looking at a plan section, it is very clear that the system remains wide open for expansion to the southeast. The profile of the deposit on the 0+00 m section is roughly 300 meters wide and 400 meters tall. The very long intercept in hole SP11-074 suggests this profile projects to the -050 m section further southeast. If such a profile continues even further, we can quickly add a lot of volume to this zone."

Summary of Results from Step-out Holes
--------------------------------------------------------------------------
                                                 Gold                 Gold
                  From        To    Length (grams per     Length   (oz per
Hole           (meters)  (meters)  (meters)     tonne)     (feet)      ton)
--------------------------------------------------------------------------
SP11-074          73.0      77.0       4.0       0.46         13     0.013
                  98.0     102.0       4.0       0.77         13     0.022
                 121.0     490.0     369.0       0.91       1210     0.027
includes         299.0     307.0       8.0       2.59         26     0.076
includes         406.5     409.5       3.0      11.01         10     0.321
SP11-078         108.0     135.0      27.0       0.49         89     0.014
                 163.0     169.0       6.0       0.50         20     0.015
                 194.0     203.0       9.0       0.35         30     0.010
                 249.0     363.0     114.0       0.58        374     0.017
                 409.5     437.0      27.5       0.40         90     0.012
An interval of no recovery was encountered from 415.5-418.5 meters
--------------------------------------------------------------------------
Weighted averages were used to calculate all reported intervals
Intervals of no recovery were given a grade of zero in the calculations
above.
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton
gold) lower cutoff
Internal dilution within reported intervals does not exceed core lengths
of 8 meters.
1 troy oz = 31.103 grams
Conversion factor - grams per tonne to troy oz per short ton; g/t divided by
34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet

Infill Drilling

Recent infill drill results continue to demonstrate continuity and, in places high grades.

--  Diamond drill hole SP11-072 was collared on the 0+750 m section, 50m
    southeast of drill hole SP11-070 (news release dated 15th September
    2011), and drilled at an azimuth of 220 degrees true north with an
    inclination of -55 degrees and tested mid-levels of the Portage Zone. A
    continuous interval of 319 meters at 0.97 grams per tonne gold (1046
    feet at 0.028 oz per ton gold) started at a down hole depth of 63
    meters.
--  Diamond drill hole SP11-073 was collared on the 0+700 m section, was
    vertical and drilled from a barge. This hole encountered an impressive
    250 meters at 1.46 grams per tonne gold (820 feet at 0.043 oz per ton
    gold) starting at the bedrock interface. Included within this long
    interval are several intervals of higher grade mineralization including
    15 meters at 5.83 grams per tonne gold (49 feet at 0.170 oz per tonne
    gold) starting at the bedrock interface and 28 meters at 4.57 grams per
    tonne gold (92 feet at 0.133 oz per ton gold) starting at 89 meters down
    the hole.
--  Diamond drill hole SP11-075 was collared on the 0+100 m section, was
    vertical and drilled from a barge. This hole tested the north-eastern
    margin of the Portage Zone and encountered multiple intervals of
    mineralization, the longest of which was 206 meters at 0.91 grams per
    tonne gold (676 feet at 0.027 oz per ton gold). This hole ended in
    mineralization.

"Infill drilling continues to demonstrate the robust, continuous nature of mineralization at Springpole," comments Hennigh. "When we see multiple zones of higher grade mineralization like that encountered in SP11-073, we know we have a lot more drilling to do to fully understand this large, dynamic gold system."

Summary of Results from Infill Holes
--------------------------------------------------------------------------
                                                 Gold                 Gold
                  From        To    Length (grams per     Length   (oz per
Hole           (meters)  (meters)  (meters)     tonne)     (feet)      ton)
--------------------------------------------------------------------------
SP11-072          63.0     382.0     319.0       0.97       1046     0.028
includes         128.0     134.0       6.0       4.14         20     0.121
includes         159.0     178.0      19.0       3.29         62     0.096
includes         199.0     203.0       4.0       4.28         13     0.125
includes         334.0     336.0       2.0      11.21          7     0.327
SP11-073          17.0     267.0     250.0       1.46        820     0.043
includes          17.0     195.0     178.0       1.91        584     0.056
includes          17.0      43.0      26.0       3.71         85     0.108
includes          17.0      32.0      15.0       5.83         49     0.170
includes          89.0     117.0      28.0       4.57         92     0.133
includes         109.0     116.0       7.0       8.57         23     0.250
                 288.5     296.0       7.5       0.73         25     0.021
An interval of no recovery was encountered from 204.5-206 meters
SP11-075         113.0     319.0     206.0       0.91        676     0.027
includes         163.0     244.0      81.0       1.87        266     0.055
includes         201.0     217.5      16.5       3.39         54     0.099
                 359.0     366.0       7.0       0.52         23     0.015
                 384.0     399.0      15.0       0.49         49     0.014
Hole ended in mineralization at 399 meters
--------------------------------------------------------------------------
Weighted averages were used to calculate all reported intervals
Intervals of no recovery were given a grade of zero in the calculations
above.
Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton
gold) lower cutoff
Internal dilution within reported intervals does not exceed core lengths
of 14 meters.
1 troy oz = 31.103 grams
Conversion factor - grams per tonne to troy oz per short ton; g/t divided by
34.2857 or g/t multiplied by 0.0292
1 meter = 3.28 feet

Core was logged then split using diamond saws with one half sent for analyses and the other half stored for future reference. Quality control programs include the use of field and laboratory duplicates, standards, blanks, and internal and external check assaying. Certified sample standards were submitted with the normal sample stream. Gold and silver assays were completed by SGS Canada Inc. in Red Lake and Toronto, Ontario using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized.

Operational Update

Two barge-based and two land-based drills are currently operating on site and will continue through freeze-up, likely in early November. Approximately 8,000 meters of core have been drilled so far this summer, and it is expected that the drills should produce around 10,000 meters of core. Holes drilled this 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.

About Springpole