Springpole Gold Project

Gold Canyon Resources Inc. (Gold Canyon or the Company) holds a 100% interest in the large Springpole Gold Project, situated in the prolific Red Lake Mining District of northwestern Ontario, Canada. Situated within the Birch-Uchi Greenstone Belt, dominant host rocks for most of the gold mineralization at Springpole are Archean age (2.7 billion years old) sedimentary and intrusive rocks. Drilling by the Company has confirmed the presence of a high-grade, structurally controlled gold system with individual drill samples to 45 ounces of gold per ton (opt Au), and composite drill intercepts of 19.6 feet averaging 3.046 opt Au (BL04-319). The Company has also identified new areas of mineralization, situated more than one mile (1.6 km) west-southwest of the traditionally drilled Core Area, verifying the extraordinary size of the Springpole mineralized system, as well as generating new target areas for future follow-up drill testing. The average of all composite intercepts at Springpole which exceed 0.5 opt Au is 1.167 opt Au over an average of 6.2 foot core length. NI 43-101 compliant resource estimate of the Core Area, which presently stands at 7,100 oz gold measured; 38,400 oz gold indicated; and 197,100 oz gold inferred (see Gold Canyon's independent NI 43-101 Technical Report and Resource Estimate dated November 20, 2006, prepared by P&E Mining Consultants Inc., which is available for viewing through the Internet on SEDAR at www.sedar.com), both open pitable and underground, in an area of approximately 500 acres. This area comprises less than 3% of the Company's holdings of over 20,000 acres. Here, the deepest drill hole to date penetrates slightly over 1,000 feet vertically below the surface.

The extensive gold mineralization system at the Springpole Project may be unique among Canadian Archean gold deposits in that it is hosted within and along the margins of a sheared, high-level potassic stock. At Springpole, gold occurs as disseminations and high grade veins within the trachyte porphyry stock, itself within or adjacent to explosive diatreme breccias pipes, and as veins and replacements along the margins of the intrusive in intermediate and mafic volcanics and tuffs. Mineralization displays many characteristics which suggest it was deposited in the epithermal environment. The close spatial relationship to the potassic intrusive suggests a genetic relationship as well. In almost all areas, mineralization is accompanied by strong to intense potassic (K feldspar and sericite) and carbonate alteration. These and other characteristics place the Springpole mineralization in the potassic gold deposit classification; a deposit type which includes such world-class deposits as Cripple Creek, Porgera, Lihir, and Emperor.

Exploration has focused on high grade mineralization such as the East Extension Zone and the Main/Vein Zone (the Core Area) with highly encouraging results. A recently completed comprehensive review of project data suggests that the East Extension Zone may be a part of a 0.8 km long zone of continuous mineralization, while the Main/Vein and Camp Zones are a part of a 1.5 km long zone of similarly continuous gold mineralization. Fill-in drilling is planned, in the near future, to verify the continuity of these two zones. In addition, a recent, project-wide geochemical and geophysical exploration has revealed a number of promising exploration targets remote from the Core Area (e.g. the Southwest Target Area, the Overland Target Area and the Sandy Point BIF Target area), suggesting that the mineralization at Springpole is more wide spread than previously thought. Drilling in some of these new areas, however limited, has been highly encouraging. The Company is aggressively pursuing not only enlarging the gold resource of the Core Area, but also discovering potentially large new resources in the rest of its over 20,000 acre land position at Springpole.