Gold Canyon Mails Proxy Materials for Upcoming Annual General Meeting;
Proposes Changes to the Board of Directors
Gold Canyon Resources Inc. (GCU: TSX-V) ("Gold Canyon" or "the
Company") is pleased to announce that its proxy materials for the 2011
Annual General Meeting of shareholders to be held in Vancouver, British
Columbia on Wednesday April 13, 2011 at 2:00 p.m. (Vancouver time) has
been filed on the Canadian System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com.
Management nominees for re-election to the Board of Directors include
incumbents Akiko Levinson, the Chairperson, Chief Executive Officer and
President of the Company and Ron Schmitz, the Chief Financial Officer
of the Company.
Quinton Hennigh, Ph.D., P.Geo., was recently
appointed to the Board of
Directors of Gold Canyon and has been nominated for re-election at the
upcoming meeting. Dr. Hennigh is an economic
geologist with more than
20 years of exploration experience. Over the past four years as
President and Chief Geologist of Evolving Gold Corp. ("Evolving"),
Dr.
Hennigh has helped assemble a world class portfolio
of gold projects
and led successful exploration resulting in three significant
discoveries including the Rattlesnake Hills deposit, Wyoming. Prior to
joining Evolving, he was an exploration geologist with Newmont Mining
Corp., Newcrest Mining, and Homestake Mining, during
which time he
worked on projects in North America, Europe, Australia, Asia, and South
America. More recently, Dr. Hennigh has acted as
advisor to Gold Canyon
since 2009, where he helped refocus exploration at the Company's
Springpole Gold Project in Red Lake, Ontario. He
earned a M.Sc. and a
Ph.D in geology and geochemistry from the Colorado
School of Mines in
1993 and 1996, respectively.
Doug Buchanan, Q.C. is a new nominee for election to the Gold Canyon
Board of Directors. Mr. Buchanan is a partner with the national law
firm Davis LLP, acting as the National Managing Partner of Davis LLP
for two terms, 1995-98 and 2004-07, and practices out the out of the
firm's Vancouver, Toronto and Tokyo offices. He is currently a director
of Subaru Canada Inc., Bank West (where he is also member of Audit
Committee and Corporate Governance Committee), Western Life Assurance
(where he is also member of Audit Committee and Chairman of the
Corporate Governance Committee) and Western Financial Insurance Company
(where he is also Chairman of the Corporate Governance Committee).
Conrad Pinette is also a new nominee for election to
the Gold Canyon
Board of Directors. Mr. Pinette is President of
Condor Holdings Ltd., a
private investment company. Mr. Pinette attended the
University of
British Columbia where he specialized in forestry. He was owner,
manager and President of a family lumber business until its sale in
1980, President and Chief Operating Officer of Lignum Limited, a
private forest product company until its sale in 2004, the Executive
Vice President of Riverside Forest Products Limited, one of British
Columbia's largest forest products companies, until its sale in 2005
and Executive Vice President of Tolko Industries, a large private
forest products company, until his retirement in 2006. As Chairman of
Pine Tree Developments Ltd., he continues to be responsible for another
established family business. He is a director of Northgate Minerals
Corporation and Canfor Corporation, a current Trustee of A&W Revenue
Royalties Income Fund and a past director and Chairman of the Board of
Finning International Inc. and past director of TimberWest
Forest
Corporation, all public companies.
Ivan Obolensky, Duncan Riesmeyer,
Vincent Della Volpe whom collectively
have served Gold Canyon for many years have agreed to not stand for
re-election at the upcoming meeting.
Akiko Levinson, Chairperson and Chief Executive Officer of the Company
stated: "As Gold Canyon continues its growth trajectory, we are very
fortunate to have three seasoned and exceptional board members joining
our leadership team.
"The nominations of both Doug Buchanan and Conrad Pinette
to the Board
of Directors will help ensure Gold Canyon continues to be
well-positioned to capitalize on current market conditions, while
remaining true to the Company's core values. Doug and Conrad share my
vision for Gold Canyon, including our belief that our shareholders
should always come first.
"I thank Ivan Obolensky, Duncan Riesmeyer and Vincent Della Volpe for
their leadership and commitment to Gold Canyon, and look forward to
their ongoing informal advice and counsel in the months and years
ahead."
Investors and shareholders should refer to the Company's Information
Circular available through Gold Canyon's profile on SEDAR for further
information.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral
and precious metals properties. The Company controls a 100% interest in
the Springpole Gold - Horseshoe Island Gold,
Platinum, Palladium
Project and Favourable Lake Poly-metallic property
currently under
option to Guyana Frontier Mining Corp. pursuant to an option and joint
venture agreement entered into in December 2005 - all in the Red Lake
Mining District of Ontario, Canada.
Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA
Inc., the Company controls a 100% interest in the Cordero Gallium
Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan
Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website:
www.goldcanyon.ca
Akiko Levinson,
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888)
242-3234 Fax: (604)
682-0537 info@goldcanyon.ca
Investor Relations: Leo Karabelas, Tel: (416)
543-3120 Email:
leo@frontlineir.com
Certain statements contained in this news release using the terms
"may", "expects to", "project",
"estimate", "plans", and other terms
denoting future possibilities, are forward-looking statements in
respect to various issues including upcoming events based upon current
expectations which involve risks and uncertainties that could cause
actual outcomes and results to differ materially. The future conduct of
the Company's business and the feasibility of its mineral exploration
properties are dependent upon a number of factors and there can be no
assurance that the Company will be able to conduct its operations as
contemplated and the accuracy of these statements cannot be guaranteed
as they are subject to a variety of risks that are beyond our ability
to predict or control and which may cause actual results to differ
materially from the projections or estimates contained herein. The
risks include, but are not limited to, the risks described in the above
press release; those risks set out in the company's disclosure
documents and its annual, quarterly and current reports; the fact that
exploration activities seldom result in the discovery of a commercially
viable mineral resource and are also significant amounts of capital to
undertake and the other risks associated with start-up mineral
exploration operations with insufficient liquidity, and no historical
profitability. The Company disclaims any obligation to revise any
forward looking statements as a result of information received after
the fact or regarding future events.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release.