Delay British Columbia Securities Commission Hearing
CRANBROOK, BRITISH COLUMBIA--(Marketwire - March 2, 2011) - Copper Canyon Resources Ltd. ("Copper Canyon" or the "Company") (TSX VENTURE:CPY) and NovaGold Resources Inc. ("NovaGold") have agreed to reschedule the hearing at the British Columbia Securities Commission ("BCSC") originally scheduled for Friday, March 4, 2011. NovaGold has applied to the BCSC seeking to cease trade Copper Canyon's shareholders rights plan. Copper Canyon has applied to the BCSC seeking to cease trade NovaGold's hostile take-over bid. The BCSC hearing has been reset for hearing on Thursday, March 10, 2011.
About Copper Canyon
Copper Canyon Resources was created by way of a Plan of Arrangement on June 9, 2006. Shareholders of Eagle Plains Resources Ltd. (TSX VENTURE:EPL) approved the plan to reorganize the company's mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, three of Eagle Plain's projects: Copper Canyon, Severance and Abo (Harrison) Gold, were transferred into Copper Canyon.
On behalf of the Board of Directors
Tim J. Termuende, President and CEO
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.