CAU Canyon Resources Corp

All 56 Montana Counties Qualified With More Than 30,000 Signatures Submitted for I-147 GOLDEN, Colo., June 22 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company, passes the press release issued by the I-147 campaign organization (Miners, Merchants and Montanans for Jobs and Economic Opportunity For I-147) on to its shareholders and the general marketplace. The complete text of the release, dated June 17, 2004, is provided below. WHITEHALL -- Backers of a ballot initiative, I-147 that encourages new mining ventures in Montana which would provide good paying jobs and stimulate the economy submitted more than 30,000 signatures today -- and made history in the process. For what is believed to be the first time ever, more than enough signatures were submitted to "qualify" every county in the state. According to state law, a statutory initiative requires the signatures of 5 percent of the qualified voters in half of the 56 counties in the state, and 20,510 total signatures. "From Libby to Ekalaka, and from Dillon to Plentywood, Montanans from all 56 Counties have signed on, saying 'The time is right for I-147.' Mining was once a vibrant and vital industry to Montana and it can be again. It doesn't have to be jobs versus the environment. There's no reason we can't have both," said Tammy Johnson of the mining community of Whitehall. "When we hit the streets and county roads, we quickly found that Montanans in every county wanted the opportunity to sign the I-147 petition," said Ronda Carpenter of Great Falls, who marshaled the signature-gathering effort. That was even despite the fact that in some locations, environmental activists confronted signature gatherers and attempted to dissuade Montanans from signing the petition. "We believe that for the first time ever, the number of signatures gathered exceeds the qualification requirement in every county in the state. Rather than just meeting the quota in 28 counties, we exceeded the required number in all 56 counties. In many cases, the people came to us," Carpenter added. (Under the previous requirements based on legislative districts, it is believed that no initiative had enough signatures from across the state to meet either the district-based or county-based criteria on a statewide basis). "Many community leaders told us they sincerely appreciate the fact that the I-147 campaign believes the view of every county is important," said Bob Williams of Hobson, a former Democrat state senator who headed up the Eastern Montana portion of the effort. "They also made it clear they like the fact that I-147 does not repeal the old cyanide ban, but reforms it." "Whenever you take time to talk with people and listen to their concerns, you learn a lot," Johnson said. "One thing we found is that Montanans are strong supporters of the tough, new environmental restrictions that I-147 requires before new mines can receive a permit. As one woman from Central Montana told us, "I would like to see more mining in Montana. If the mining industry wants to do business in Montana and will take responsible steps to protect the environment we should meet them halfway." "In the Legislature, we are reminded by the voters and the media to balance various interests and values," said Rep. Scott Mendenhall, R-Whitehall, whose legislative district includes Montana's two largest operating gold mines. "I-147 strikes the balance by encouraging good-paying jobs while at the same time ensuring our water, environment and taxpayers are protected. That's a big step toward the day when Montanans can have a quality of life that includes clean streams and well-funded schools, and good jobs and lower taxes." I-147 would allow the use of solutions containing cyanide in gold and silver mining, but only if stringent new criteria are met. Among the new requirements: * All leach pads and ponds that hold solutions containing cyanide must be designed to withstand 100-year storm events. * Tailing impoundments, leach pads and ponds that hold solutions containing cyanide must first have a synthetic liner backed up with a secondary liner and a leak-detection system. * The new initiative also requires a contingency system so that if there is a leak, the solution is recovered. * To address groundwater concerns, mine operators must have a DEQ approved program to monitor groundwater and surface water that could be affected. * State regulators can require additional requirements to ensure that ground and surface water is protected. In addition, the ballot initiative states that mines using solutions containing cyanide must comply with state and federal water quality and air quality regulations. Also, the mines must have sufficient bonding or financial assurance posted with the State of Montana to reclaim the mine so that taxpayers do not bear those costs. County Election Administrators have until July 16 to certify the signatures on the petitions and submit them to Secretary of State Bob Brown's office. For more information, contact: Tammy Johnson Miners, Merchants and Montanans for Jobs and Economic Opportunity For I-147 (406) 443-2083 / Helena Office (406) 491-1714 / Cell (406) 287-3012 / Whitehall "Canyon Resources is encouraged by the widespread response of Montanans in support of the effort to restore the jobs and many other economic benefits of environmentally secure mining to the state with the placement of I-147 on the November 2004 ballot," said Richard H. De Voto, President. 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 metals prices, production and reserve estimates, production costs, cash flows, environmental and governmental regulations, availability of financing, judicial proceedings and force majeure events. Most of these factors are beyond the Company's ability to control or predict. For further information, see http://www.yeson147.com/ or http://www.canyonresources.com/ or please contact: Richard H. De Voto, President, or Gary C. Huber, Vice President-Finance, both of Canyon Resources Corporation, +1-303-278-8464. DATASOURCE: Canyon Resources Corporation CONTACT: Richard H. De Voto, President or Gary C. Huber, Vice President- Finance, both of Canyon Resources Corporation, +1-303-278-8464 Web site: http://www.yeson147.com/ Web site: http://www.canyonresources.com/

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