CAU Canyon Resources Corp

Canyon Resources Enters Into Agreement to Investigate Biologic Recovery of Additional Gold From Briggs Ores on Leach Pad GOLDEN, Colo., Nov. 3 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company announced today that it has entered into a letter agreement with Pintail Environmental Solutions of Golden, Colorado, whereby Pintail will conduct tests on Briggs leach pad ores to determine the viability of recovery of additional gold from the ores through the use of Pintail proprietary biological treatment technology. Pintail is currently conducting drilling of the Briggs pad material to obtain samples for column and bench testing. Pintail will finance and conduct the test work and Gold Recovery Feasibility Program. If the feasibility program establishes economic viability, with estimated production costs not exceeding half the price of gold at the time, then Pintail will have the right to proceed with implementation of the biological treatment of the Briggs leach- pad ores under a 50/50 joint-venture relationship with Canyon for the additional gold so produced from the biological treatment. The Briggs Mine in southeastern California has produced 535,000 ounces of gold to date through conventional cyanide leaching of the 23.6 million tons of ore placed on the pad from 1997 through April 2004. Mining has ceased at Briggs, but cyanide leaching continues with an estimated 31,000 ounces of gold expected to be produced throughout 2004. The Pintail technology would attempt to recover an estimated 50% of the 83,000 ounces of gold remaining in the heap ores which are expected to be not recoverable by cyanide leaching. Pintail Environmental Solutions is a private research and development company which has successfully developed biological processes capable of remediating spent gold heaps and recovering large percentages of the gold still remaining in these heaps. During the last 15 years, Pintail has conducted many successful tests of residual gold recovery, in partnership with industry and government. Pintail is also conducting test work on residual gold recovery on the Hycroft Mine heap-leach ores in Nevada, under a similar contract with Vista Gold Corporation. The Pintail work has commenced on the Briggs ores. It is expected that the results of the biologic recovery test work will be completed, so that a decision concerning its economic viability and implementation could be made, by the second half of 2005. This timing would dovetail appropriately with the non-cyanide rinsing and continued gold recovery by Canyon of the conventionally recovered gold from the Briggs ore on pad. 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.canyonresources.com/ or contact: Richard H. De Voto, President (303) 278-8464 DATASOURCE: Canyon Resources Corporation CONTACT: Richard H. De Voto, President of Canyon Resources Corporation, +1-303-278-8464 Web site: http://www.canyonresources.com/

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