Gold Canyon's Winter Drilling at Springpole Gold Project Produces
      Long Gold Intercepts and First Bonanza Grades from Portage Zone

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Gold Canyon Resources Inc. (GCU: TSX-V) ("Gold Canyon" or "the
Company") is pleased to announce the return of assays from the first 5
drill holes of its Winter 2011 Diamond Drill Program at its 100%
controlled Springpole Gold Project, located 110 kilometers northeast of
the Red Lake Mining Camp, Ontario, Canada. Highlights include hole
SP11-033 that intersected the first bonanza grade gold mineralization
yet encountered in the Portage Zone, including 3 meters at 53.88 grams
per tonne gold (10 feet at 1.573 oz per ton gold) within 302 meters at
1.39 grams per tonne gold (991 feet at 0.041 oz per ton gold). Using an
upper cut-off of 34.25 grams per tonne (1 oz per ton) for single
assays, these intervals become 3 meters at 23.12 grams per tonne gold
(10 feet at 0.675 oz per ton gold) and 302 meters at 1.08 grams per
tonne gold (991 feet at 0.032 oz per ton gold).

"Holes SP11-033 and -34 come from an area near the middle of the
Portage Zone where there is mostly historic drilling from nearly 20
years ago," comments Dr. Quinton Hennigh, Technical Advisor to Gold
Canyon. "Though we are pleased that both holes produced long intervals
of typical Portage style mineralization, the high grade in SP11-033 is
something not previously seen in modern or historic drilling.  We are
hopeful further drilling in this area might produce more of this style
of mineralization."
 
"We are also very pleased to see near surface mineralization in holes
SP11-030 and -031 drilled in the gap between the Main and Portage
zones," continues Hennigh. "We can now confidently say that gold
mineralization is continuous for a distance of 1.35 kilometers from the
Main Zone in the northwest to the present terminus of the Portage Zone
in the southeast."

- Hole SP11-033 drilled to a depth of 250.5 meters, was designed to test
shallow and intermediate depths of the Portage Zone. It drilled above
hole SP10-005 drilled last winter 2010, and above SP10-029 drilled in
the summer of 2010, which tested the zone at depths of nearly 250
meters. SP11-033 was drilled at an azimuth of 220 degrees true north
and inclination of -45 degrees. It was drilled from the same location
as hole SP11-032 (inclination of -45 degrees), which was lost in bad
ground at a depth of 70 meters.  SP11-033 intersected the first bonanza
grade gold mineralization yet encountered in the Portage Zone,
including 3 meters at 53.88 grams per tonne gold (10 feet at 1.573 oz
per ton gold) within 302 meters at 1.39 grams per tonne gold (991 feet
at 0.041 oz per ton gold). The high grade interval includes a one meter
interval at 126.51 grams per tonne gold (3 feet at 3.694 oz per ton).
Using an upper cut-off of 34.25 grams per tonne (1 oz per ton) applied
to this sample, these intervals become 3 meters at 23.12 grams per
tonne gold (10 feet at 0.675 oz per ton gold) and 302 meters at 1.08
grams per tonne gold (991 feet at 0.032 oz per ton gold).
Encouragingly, SP11-033 encountered gold mineralization beginning at 13
meters at the beginning of bedrock immediately below the lake bed.
 
- Hole SP11-034 was collared approximately 100 meters southeast of
SP11-033; drilled at an azimuth of 220 degrees true north, an
inclination of -45 degrees and drilled to a total depth of 379.5
meters. This hole tested intermediate levels of the Portage Zone in an
area where only 20 year old historic drill holes are present. Two
mineralized intervals were encountered; 73.5 meters at 1.18 grams per
tonne gold (241 feet at 0.034 oz per ton gold) beginning at 37 meters
down hole, and 169 meters at 1.08 grams per tonne gold (554 feet at
0.032 oz per ton gold) beginning at 162 meters down hole including 51
meters at 2.20 grams per tonne gold (167 feet at 0.064 oz per ton
gold). It is clear that the Portage Zone bifurcates in this location,
something seen locally in previous drill holes elsewhere along the
zone.

- Holes SP11-030 and -031 both tested an 80 meter wide near surface gap
between the Portage Zone and the Main Zone further northwest. SP11-030
was drilled at an azimuth of 220 degrees true north and inclination of
-45 degrees, and drilled to a downhole depth of 241 meters; SP11-031
was collared approximately 50 meters southeast from SP11-030 and was
drilled with the same orientation to a downhole depth of 238 meters.
Hole SP11-030 encountered 59 meters at 2.51 grams per tonne gold (194
feet at 0.073 oz per ton gold) beginning at 14 meters down hole, and
hole SP11-031 encountered 85.6 meters at 1.09 grams per tonne gold (281
feet at 0.032 oz per ton gold) beginning at 5.4 meters down hole. These
results indicate the Portage and Main zones are connected and form one
single body of gold mineralization.

- Core recovery remains a challenge in the Portage Zone which is
comprised of soft, broken, highly altered rock. Numerous intervals of
no core recovery were encountered in holes SP11-033 and -034.  Hole
SP11-032 was lost in bad ground when the core barrel broke off. Note
that in the table below, many intervals of no core recovery in holes
SP11-033, and -034, fall within mineralized intervals and in some cases
higher grade intervals. These zones are given a grade of zero when
calculating weighted averages reported below, and therefore have a
negative effect on the overall results. The Company continues to work
diligently with the drill contractor to mitigate loss of core. This
includes use of specialized mud mixes, slower drilling and the use of
specialized soft core recovery tools. As a consequence, the total
meters drilled thus far stands at approximately 3,000 meters. It is
hoped that the pace will pick up over the next few weeks of the drill
program as new measures are being taken to improve the speed of
drilling. The Company now expects to complete around 6,000 meters, less
than the 9,000 meters originally planned. Plans are underway to bring
in two barges across the winter road before breakup so that drilling
may continue in late spring to early summer. Critical holes that are
not completed this winter will be drilled in that period so that the
Company can meet its goal of revising a resource estimate in 2011, and
continuing the exploration effort at Springpole.
 
News Release has been truncated, table has been removed; to view
the table, please see:

http://www.goldcanyon.ca/i/pdf/2011-02-16_NR-T1.pdf

The Winter 2011 Diamond Drill Program is part of an ongoing program of
drilling and remodeling of the Springpole Gold deposit to move it
towards prefeasibility. Drilling is planned to continue through April
2011, at which time work will begin on revising the resource estimate
for the deposit.
 
Springpole is an alkaline intrusion hosting a gold system that
represents a potentially new style of Canadian Archean Shield gold
deposit. Springpole shares many similarities with deposits such as the
Cripple Creek Gold deposit in Colorado. The Portage Zone is hosted by a
trachytic porphyry intrusion displaying polyphase autolithic breccias
that contain gold mineralization of remarkably uniform grade. Other
zones, including East Extension, Camp and Main, consist of high grade
veins and pods hosted in diatreme breccias composed of intrusive and
country rocks. These diatreme breccias surround the northwest and
northern margins of the Portage Zone. The known mineralized zones
underlie a total known area of about 4 square kilometers representing
only about 15 percent of the greater alkaline intrusive complex which
yet remains to be explored.
 
Core was logged, then split using diamond saws, with one half sent for
analyses and the other half stored for future reference. Quality
control programs include the use of field and laboratory duplicates,
standards, blanks, and internal and external check assaying. Certified
sample standards were submitted with the normal sample stream. Gold and
silver assays were completed by SGS Canada Inc. in Red Lake and
Toronto, Ontario using a 30 gram charge, fire assay, with an ICP
finish. For over limit assay results, initial assays in excess of 10.0
grams per tonne Au, a gravimetric finish is utilized.

Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are the
Qualified Persons pursuant to National Instrument 43-101 responsible
for, and have reviewed and approved, the technical information
contained in this news release. Dr. Hennigh is acting as a technical
adviser to Gold Canyon and Alan Roberts is the Senior Geologist of
Alaska Earth Sciences, Inc. and Project Manager at Springpole.

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.