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Canyon Gold Corp. Progress Report

VANCOUVER, British Columbia, Nov. 6, 2012 (GLOBE NEWSWIRE) -- Canyon Gold Corp. (Pink Sheets:CGCC) (The Company) is pleased to report on its ongoing progress.

SEC Approval of S-1 Registration

  • The Company received "Notice of Effectiveness" from the Securities and Exchange Commission for its S-1 Filing, effective as of November 05, 2012.

Filing of Form 211 to trade on the OTC-BB/QB

  • The Company, based on the S-1 Registration approval, engaged Spartan Securities Group Ltd. of Clearwater Florida to file Form 211 for approval to trade the Company's stock on the OTC-BB/QB Market

Final Geological Report.

Written according to National Instrument (NI) 43.101 TECHNICAL REPORT requirements.

  • The Company's Geologist, Alex Burton, with a visit to the Company's Mineral Lease Properties in Elko County, Nevada completed all necessary field work for the completion and delivery to the Company of the 'Final Geological Report' on the Company's Mineral Lease Claims "written according to The NI 43.101 Technical Report requirements".

The Company's Exploration:

The Company owns and controls certain Mineral Lease Claims in the extended Long Canyon Gold Trend of Elko County, Nevada. The Company, with delivery of the 'Final Geological Report' completed its Phase One Exploration Program.

The Company plans to commence Phase Two in early spring 2013, weather permitting. Phase Two include extended Geochemistry and Geophysical surveys with further exploration through a drilling program including a series of about a dozen Reverse Circulation drill holes to depths ranging from 400 feet to 1000 feet. If warranted, followed by a series of holes drilled with a diamond drill to firm up the grades obtained in the RC (Reverse Circulation) drilling so that greater validity can be assigned to the ore grades for reserve and resource calculations.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives or expected results of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements.

The Company trades on the OTC Pink tier of the OTC market. Investors can find Real-time quotes and market Information for the Company on http://www.otcmarkets.com/stock/CGCC/quote

CONTACT: Canyon Gold Corp. Delbert G. Blewett, B.Sc.Ll.B, Pres. & CEO Phone: 604-202-3212 Email: canyongold@shaw.caSource:Canyon Gold Corp.