Ed's Thread

[McBeanburger]

8.0 feet at 1.518 ounces per ton gold - this is a Red lake play.

MC is 14,510,090 .... very cheap!

i bought some on friday.

NEWS RELEASE TRANSMITTED BY CCNMATTHEWS
Gold Canyon Resources Inc.
April 13, 2006 - 14:23:56 ET
Gold Canyon Intersects High Grade Gold in New Zone in 2.5 km Long Southwest
Target Area, 1.518 opt Gold Mineralization in Core Area at Springpole
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 13, 2006) - Gold Canyon
Resources Inc. (TSX VENTURE:GCU) ("Gold Canyon" or "the Company") is pleased
to announce it has received results for the initial eight holes from its 2006
Winter drilling program at the Company's Springpole Gold Project located in
the Red Lake Mining District of Ontario, Canada. Management is very encouraged
by confirmation of bonanza grade results in the Core Area which included 8.0
feet at 1.518 ounces per ton gold ("opt Au") in hole BL06-356. In addition
preliminary exploration drilling within the 2.5 kilometer (1.5 miles) long
Southwest Target Area has identified mineralization assaying 0.449 opt Au over
3.0 feet a larger 12.0 foot interval averaging 0.172 opt Au in hole BL06-357.
Main and Vein Zones, "Core Area"
Holes BL06-353, BL06-354, BL06-355 and BL06-356 were drilled within the Main
and Vein zones of the "Core Area". These holes were all drilled specifically
to test or expand mineralized zones indicated in the Company's modelling.
Hole BL06-353 drilled in the Main Zone did not intersect down dip projection
of mineralization.
Hole BL06-354, a 337 foot (100 meter) offset from early shallow drilling,
successfully confirmed the down dip projections of mineralization in the Main
zone. High-grade mineralization averaging 0.884 opt Au was intersected from
278.9 - to 281.4 feet. This zone was projected based on results of historic
surface sampling and drilling. In addition, hole BL06-354 intersected 8.0 feet
of mineralization grading 0.145 opt Au from 94.5 to 102.5 feet and may
represent a new mineralized zone in this area.
Hole BL06-355 successfully drill tested a 200 foot down dip offset of surface
mineralization exposed in trenches, and projected from historic drilling,
intersected 18.0 feet of mineralization in the targeted zone averaging 0.630
opt Au from 174.0 to 192.0 feet. Additional high grade mineralization was
intersected from 389.0 to 391.0 feet averaging 0.544 opt Au over this two foot
interval. Additional zones of anomalous gold mineralization ranging from 0.074
to 0.233 opt Au were intersected in the intervals 250.0 - 251.0 feet, 324.0 -
325.0 feet, and 410.0 to 413.0 feet.
East Extension Zone, "Core Area"
Drill hole BL06-360 was drilled in the East Extension Zone to test down dip
projections of mineralization. This hole did not intersect high grade
mineralization, however, successfully tested the target zone returning 15.9
feet with an average grade of 0.065 opt Au from 344.1 to 360.0 feet.
Southwest Target Area
Holes BL06-357, BL06-358, and BL06-359 drilled within the promising new 2.5
kilometer long Southwest Target Area, all encountered significant gold
mineralization. This target area, situated more than 1.6 kilometers (one mile)
west-southwest of the Core Area, is an entirely new and different exploration
area. It is the first of a number of new target zones outside of the
historical focus of the property. Dr. Mark Fedikow described MMI results from
the initial partial coverage of this area as "extremely compelling" in his
January 2005 report to the Company. Subsequent work by the Company has further
defined and enlarged the prospective area here. This target zone is believed
to host significant exploration potential throughout a substantial and
untested strike length. All drill results to date have been particularly
encouraging. Hole BL06-357 identified mineralization assaying 0.449 opt Au
over 3.0 feet with in a larger 12.0 foot interval averaging 0.172 opt Au. The
exploration team lead by Garry Smith, P.Geo, has developed new and
proprietary, break-through targeting models for future exploration in this and
other areas of the Property.
BL06-358 intersected two zones of anomalous gold mineralization, 2.7 feet from
519.6 to 522.3 assaying 0.057 opt Au, and 3.0 feet from 531.3 to 534.3
assaying 0.045 opt Au.
BL06-359 encountered 1.0 foot of 0.142 opt Au.
Table 1, below summarizes the drill results reported herein.
/T/
Table 1
--------------------------------------------------------------------
Hole Drill
Hole AZ True Vert. Depth From To Intercept Grade
Angle (feet) (feet) (feet) (feet) (opt Au)
--------------------------------------------------------------------
BL06-353 200 -45 433.4 -- -- -- Nil
--------------------------------------------------------------------
BL06-354 200 -45 857 94.5 102.5 8.0 0.145
--------------------------------------------------------
278.9 281.4 2.5 0.884
--------------------------------------------------------------------
BL06-355 200 -45 470 174.0 192.0 18.0 0.630
--------------------------------------------------------
250.0 251.0 1.0 0.101
--------------------------------------------------------
324.0 325.0 1.0 0.233
--------------------------------------------------------
389.0 391.0 2.0 0.544
--------------------------------------------------------
410.0 413.0 3.0 0.074
--------------------------------------------------------------------
BL06-356 200 -60 207 46.8 51.2 4.4 0.127
--------------------------------------------------------
126.2 134.2 8.0 1.518
--------------------------------------------------------
Including 131.0 134.2 3.2 3.708
--------------------------------------------------------
192.7 204.9 12.2 0.278
--------------------------------------------------------------------
BL06-357 360 -45 300 215.0 217.8 2.8 0.074
--------------------------------------------------------
357.2 366.2 9.0 0.079
--------------------------------------------------------
386.0 391.6 5.6 0.166
--------------------------------------------------------
547.0 559.0 12.0 0.172
--------------------------------------------------------
Including 556.0 559.0 3.0 0.449
--------------------------------------------------------------------
BL06-358 360 -45 300 519.6 522.3 2.7 0.057
--------------------------------------------------------
531.3 534.3 3.0 0.045
--------------------------------------------------------------------
BL06-359 360 -45 300 116.5 117.5 1.0 0.142
--------------------------------------------------------------------
BL06-360 360 -45 517 344.1 360.0 15.9 0.065
--------------------------------------------------------------------

/T/
Sampling, assaying and quality control

Core is split using diamond saws, with one half sent to Accurassay
Laboratories of Thunder Bay, Ontario for preparation and analyses, the other
half is stored on site. Assaying procedures used include fire assay with
atomic absorption finish. Samples assaying greater than 2000 ppb Au receive
fire assay with gravimetric finish.
Quality control programs include the use of duplicates, standards and internal
and external check assaying. Certified sample standards provided by Ore
Research & Exploration Pty Ltd., are submitted with the normal sample stream
at a rate of 1 in 30. Check samples are being sent to Chemex Laboratories for
external check assay.
Mr. Garry Smith, P. Geo is the Company's qualified person on the Springpole
project as defined by National Instrument 43-101. The drilling program was
conducted under Mr. Smith's supervision. All results reported herein were
reviewed and verified by Mr. Smith.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and
precious metals properties and currently controls a 100% interest in the
Springpole Gold Project and the Favourable Lake Poly-metallic Project, both in
the Red Lake Mining District of Ontario, Canada. The Company through its
wholly owned US subsidiary, Gold Canyon Resources USA Inc. also controls a
100% interest in the Cordero Gallium Project situated in Humboldt County,
Nevada, U.S.A. Additional information can be found on the Company's website:
http://www.goldcanyon.ca..
Robert Carrington, Chief Executive Officer & Director
NOTE: To view the map which accompanies this release, please click the
following link: http://www.ccnmatthews.com/docs/gcu0413.pdf