CAU Canyon Resources Corp

Reports Positive Results GOLDEN, Colo., Feb. 20 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company is pleased to announce the final results of its 16,025 foot Phase II reverse circulation development and exploration drilling program at its Briggs Mine in Inyo County, California. The Phase II program was designed to achieve three major goals: first, it tested and extended the strike-length potential of the high angle Goldtooth orebody over a 3,200 foot-long mineralized zone where the northern and southern margins remain open for extension; second, it tested and extended depth potential in certain areas of the orebody; and third, it provided sufficient infill information to allow reserve estimation on portions of the orebody. As previously reported, the northern infill section of this structure hosts a probable underground reserve of 183,000 tons containing 21,500 ounces of gold at an average grade of 0.118 ounces per ton ("opt") using a cut-off grade of 0.08 opt for mined ores and 0.013 opt for development ores at a gold price of $500 per ounce. Infill drilling has now been completed on the southern half of the structure, the results of which are being presented below. In addition, two holes, R-105 and R-106, were drilled as exploration step-outs north along the Goldtooth structure. These holes were successful in extending the strike length of Goldtooth mineralization by over 450 feet. Highlights from the latest drilling include: * Hole R-83 with 55 feet (16.8 meters) of 0.131 opt Au (4.49 g/t Au), including 5 feet (1.5 meters) of 0.233 opt Au (8.01 g/t Au), and 20 feet (6.1 meters) of 0.205 opt Au (7.03 g/t Au); * Hole R-86 with 25 feet (7.6 meters) of 0.345 opt Au (11.82 g/t Au), including 10 feet (3.0 meters) 0.796 opt Au (27.25 g/t Au); * Hole R-89 with 25 feet (7.6 meters) of 0.158 opt Au (5.41 g/t Au), including 15 feet (4.6 meters) of 0.205 opt Au (7.02 g/t Au); * Hole R-100 with 40 feet (12.2 meters) of 0.097 opt Au (3.31 g/t Au), including 10 feet (3.0 meters) of 0.276 opt Au (9.45 g/t Au); * Hole R-104 with 90 feet (27.4 meters) of 0.122 opt Au (4.17 g/t Au), including 25 feet (7.6 meters) of 0.294 opt Au (10.07 g/t Au). * In addition, Hole R-105, a 450-foot exploration step-out to the north along the strike of the Goldtooth fault, encountered 15 feet (4.6 meters) of 0.11 opt Au (3.77 g/t Au) including 5 feet (1.5 meters) of 0.266 opt (9.13 g/t Au). "These results reinforce our conviction that the Goldtooth underground orebody will continue to grow and that significant potential exists to boost the planned gold production at Briggs," stated James Hesketh, President and CEO. "The Goldtooth orebody displays good continuity over its 3,000 plus feet of strike length as shown by our detailed drilling, and over the longer term will provide Canyon with solid exploration upside as we mine and explore along its length and depth. Hole R-105 in particular is helpful in that we encountered a mineable thickness of ore-grade material some 450 feet to the north of our previous deeper drilling. Results from Holes R-96 through R-104 will be used to update the probable underground reserve previously reported in the Company's press release dated February 6, 2007. We expect that these results will add to our recently announced reserve estimates." Below is a table of significant unreported gold intercepts from this last phase of Canyon's drilling program. The higher-grade (>0.10 opt Au) gold are italicized. From To Intercept Intercept Grade Grade Hole (feet) (feet) (feet) (meters) (opt) (g/tonne) R-83 530 585 55 16.8 0.131 4.49 step-out including 530 535 5 1.5 0.233 8.01 including 565 585 20 6.1 0.205 7.03 R-84 370 375 5 1.5 0.095 3.26 infill R-85 no significant results step-out R-86 430 455 25 7.6 0.345 11.82 step-out including 440 450 10 3.0 0.796 27.25 R-87 495 515 20 6.1 0.038 1.31 step-out including 510 515 5 1.5 0.105 3.59 R-88 190 195 5 1.5 0.115 3.95 infill 225 255 30 9.1 0.034 1.18 R-89 355 380 25 7.6 0.158 5.41 infill including 355 370 15 4.6 0.205 7.02 R-91 790 795 5 1.5 0.031 1.441 step-out R-94 no significant results R-95 no significant results R-96 170 185 15 4.6 0.102 3.5 infill R-97 100 120 20 6.1 0.056 1.92 infill R-98 215 225 10 3 0.127 4.36 infill R-99 285 295 10 3 0.089 3.05 infill R-100 315 355 40 12.2 0.097 3.31 step-out including 340 350 10 3 0.276 9.45 R-101 240 250 10 3 0.038 1.31 infill R-102 335 380 45 13.7 0.097 3.34 step-out including 360 380 20 6.1 0.168 5.75 R-103 205 210 5 1.5 0.218 7.47 infill R-104 315 405 90 27.4 0.122 4.17 step-out including 335 360 25 7.6 0.294 10.07 including 385 400 15 4.6 0.12 4.1 R-105 265 290 25 7.6 0.031 1.08 step-out 330 345 15 4.6 0.039 1.36 425 440 15 4.6 0.11 3.77 including 430 435 5 1.5 0.266 9.13 R-106 420 425 5 1.5 0.103 3.53 step-out This drilling completes the Phase II program designed as a follow-up to the spring 2006 Phase I program. Gold mineralization at Briggs is associated with intense silica-carbonate-pyrite flooding and stockwork veining. Silica- carbonate alteration without pyrite is widespread and forms broad, elongate zones parallel to, but well outboard of major shears and faults. Disseminated pyrite is more localized and confined to discrete zones within or directly adjacent to controlling structures. In the Goldtooth underground zone, pyrite content usually rises above 2-3 percent in the high-grade gold intervals and makes them visually very distinctive. The assay footwall of the high-grade gold mineralization, nearest the Goldtooth fault, is typically sharp, while the hangingwall assay values are usually gradational over several tens of feet. These visually notable features assist in our understanding of these deposits. We plan to drill three additional exploration holes along the Briggs Goldtooth fault and then move the drill rig to our Cecil R project four miles north of Briggs. At Cecil R a six-hole step-out program is planned to further define the extent and grade of mineralization contained within a shallowly buried low-angle detachment fault. An estimate of 5.75 million tons of in-situ mineralized material grading 0.024 oz/ton Au (at a cut-off of 0.015 oz/ton Au) has been calculated for the Cecil R deposit based on existing drilling. Assay analyses were performed by ALS Chemex of Sparks, Nevada, using a 30 gram fire assay with AA finish. The drilling and assay program has been performed under the direction of Mr. Bill Fleshman, PGeo, AUSIMM, as a qualified person. For additional information on Canyon Resources and to access the full content of this technical report, please visit our website at http://www.canyonresources.com/. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such forward-looking statements include, among others, feasibility and drilling studies for the Briggs and Cecil R projects, mineralized material estimates, reserves estimates, drilling capability and the potential reopening or expansion of the Briggs Mine. Factors that could cause actual results to differ materially from these forward-looking statements include, among others: the volatility of gold prices; potential operating risks of mining, development and expansion; the uncertainty of estimates of reserves, mineralized material and gold deposits; and environmental and governmental regulations; availability of financing; the outcome of litigation, as well as 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 and CEO (303) 278-8464 Valerie Kimball, Investor Relations (303) 278-8464 http://www.canyonresources.com/ DATASOURCE: Canyon Resources Corporation CONTACT: James Hesketh, President and CEO, or Valerie Kimball, Investor Relations, both of Canyon Resources Corporation, +1-303-278-8464 Web site: http://www.canyonresources.com/

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