CAU Canyon Resources Corp

Canyon Resources Shareholders Elect Directors and Support Management Initiatives GOLDEN, Colo., June 14 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company, is please to provide the results of its Annual Meeting and Proxy vote. At the meeting a total of 86.29% of Canyon's outstanding shares entitled to vote were voted. All of the proposals were approved by a wide margin. Key among these proposals was a proposal to amend the Company's Certificate of Incorporation to increase the number of authorized shares of common stock from 50 to 100 million shares and another key proposal was to approve the issuance, at the discretion of the Board of Directors, of up to 17 million shares of common stock for general corporate purposes, including the raising of capital for the acquisition of assets or entities in one or more transactions. These proposals were approved by 94.5% and 89.3% of shares voted respectively. The third key proposal was to amend the company's certificate of Incorporation to eliminate the provisions for the classification of our Board of Directors and thereby provide that each Director will stand for election to a term of one year, which was passed with 98.4% of shares voted. Ehrhardt, Keefe, Steiner & Hottman P.C. was approved as auditors and James K. B. Hesketh, David K. Fagin and Richard F. Mauro were elected as directors. Two changes in senior management were made at the subsequent Board of Directors meeting, where Richard Phillips was appointed Chief Accounting Officer, Treasurer and Corporate Secretary for the Corporation with responsibility for accounting oversight, Sarbanes-Oxley compliance, treasury and corporate secretarial functions. Gary Huber was appointed Vice President Finance and Corporate Development, with responsibilities that include finance, capital market relations, and business, acquisition, and development support. This new structure is intended to reduce overlap and allow a greater focus from our limited executive staff on meeting corporate compliance and reporting requirements while also increasing our focus on corporate growth, finance and market relations. "We are very pleased with the clear support for management and mandate for growth that is reflected in the very high level of shareholder votes cast in favor of our key proposals. We are working towards completion of our drilling and due-diligence program at the Hycroft mine in Nevada, and are advancing our study of the Reward property in Nevada. In addition, we continue to review new projects and growth opportunities as they become available," states James Hesketh, President and COO for Canyon Resources. Actual results may differ materially from any forward-looking statement whether expressed or implied in this news release. The following risks and uncertainties which could cause actual results to vary include, but are not limited to speculative nature of mineral exploration, precious metal prices, production and reserve estimates, production costs, cash flows, environmental and governmental regulations, availability of financing, judicial proceedings and force majeure events and other risk factors as described from time to time in the Company's filings with the Securities and Exchange Commission. Most of these factors are beyond the Company's ability to control or predict. FOR FURTHER INFORMATION, CONTACT: James Hesketh, President, (303) 278-8464 Gary Huber, VP Finance, (303) 278-8464 http://www.canyonresources.com/ DATASOURCE: Canyon Resources Corporation CONTACT: James Hesketh, President, or Gary Huber, VP Finance, both of Canyon Resources Corporation, +1-303-278-8464 Web site: http://www.canyonresources.com/

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