CAU Canyon Resources Corp

I-147 Officially Qualifies for November Ballot in Montana GOLDEN, Colo., July 16 /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 July 15, 2004, is provided below. HELENA, Mont., July 15 -- Initiative 147, which would reform Montana's ban on the use of cyanide in gold and silver mining, has officially qualified for the November ballot. The official certification for the ballot was announced by Montana Secretary of State Bob Brown on Wednesday, two days prior to the deadline for signatures to be turned in by county election administrators. Brown's office certified that the initiative had received well in excess of the 20,510 signatures necessary, and had the requisite number of signatures in more than the 28 counties, and therefore will be on the ballot. Even though those thresholds have been exceeded, additional signatures continue to be counted for I-147, as county election officials are not required to submit all the validated signatures from their respective counties until Friday, June 16. Supporters of a ballot initiative must gather signatures from registered voters, and those signatures are turned in to each county's election administrator. Those administrators verify the signatures and send them to the Secretary of State for Certification. "When we were out on the streets and county roads gathering signatures, the people of Montana made it clear to us that they want good jobs and safe mining," said Tammy Johnson, campaign manager for Miners, Merchants and Montanans for Jobs and Economic Opportunity, For I-147. The initiative would allow miners to again use solutions containing cyanide as a tool in gold and silver mining, but only if they meet the law's stringent new environmental criteria." In 1998, Montana voters passed I-137, which banned the use of cyanide at open-pit gold and silver mines, by a 52-48 margin. However, miners were largely forbidden from working against that initiative during the 1998 election season, thanks to a law that gagged people with companies, businesses and associations -- but not environmental groups -- from campaigning. That gag rule was declared unconstitutional by the federal courts, but less than two weeks prior to the election, leaving inadequate time to mount an effective campaign. "Montanans want a fair, honest discussion of this issue, and I-147 provides the forum for that," Johnson said. "We're rolling up our sleeves and getting to work on the campaign." For more information, contact Tammy Johnson: 406-443-2083, or 406-287-3012 "Canyon Resources is strongly encouraged by the widespread response of Montanans in support of the effort to restore jobs and many other economic benefits of environmentally secure mining to the state with the signatures of more than 34,000 voters on petitions in all counties of the state in favor of and resulting in 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/. DATASOURCE: Canyon Resources Corporation CONTACT: Richard H. De Voto, President of Canyon Resources Corporation, +1-303-278-8464; or Tammy Johnson, +1-406-443-2083, or +1-406-287-3012 for Initiative 147 Web site: http://www.yeson147.com/ Web site: http://www.canyonresources.com/

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