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Canyon Gold Corp. Appoints Chief Financial Officer

VANCOUVER, British Columbia, March 27, 2013 (GLOBE NEWSWIRE) -- Canyon Gold Corp. (OTC-QB:CGCC) (The Company) is pleased to announce the addition of Mr. Dennis Petke, CA to the management team as the Company's Chief Financial Officer (CFO).

As Chief Financial Officer (CFO), Mr. Petke will bring valuable experience and knowledge in the areas of financial management, regulatory reporting and compliance to the Company.

Mr. Dennis Petke is qualified as a Chartered Accountant in Canada, and is a member of the Institute of Chartered Accountants of British Columbia (1995). Mr. Petke has served numerous roles in the private and public sector including Chief Financial Officer, Director, Audit Committee Chair, Controller and Corporate Secretary. Mr. Petke is currently serving as a director and/or Chief Financial Officer for private, and public companies primarily listed on Canadian and US Exchanges.

Since leaving public practice in 1999, Mr. Petke has taken several roles as a director, officer or consultant to assist management with reorganizations and merger of both private and public companies. His responsibilities included strategic planning, structuring, raising capital, and overall financial management and compliance for these companies.

During this time, Mr. Petke has accumulated extensive experience in the area of corporate finance, including negotiating and implementing private and public company mergers, as well as facilitating private placement, preference share, convertible debenture, special warrant and debt financings.

For the last three years, given the challenging capital markets in North America due to the economic downturns in 2008 to 2009 and again 2011 to 2012, Mr. Petke has been working to source alternative financing options in Hong Kong, China and Europe, thus bringing further value to the companies he works with.

* The Company welcomes Dennis Petke with enthusiasm to the Canyon Gold Team *

The Company's Business:

CanyonGold owns and or controls through certain options a total of 310 mineral lease claims (6,613 acres) in the Spruce Ridge – Long Canyon Trend Area. The Company plans to explore its claims in search of a large tonnage gold deposit similar to the West Pequop Mountains Long Canyon type of Carlin Type gold deposit. CanyonGold will use similar exploration techniques modified to fit the characteristics of the Spruce Hills property which have fracturing and alteration similar to that of Long Canyon.

Visit us at: www.canyongoldexploration.com

On behalf of the Board of Directors, Delbert G. Blewett, B.Sc.Ll.B, President & CEO,
Company Contact: Phone: 1 800 520-9485
Email: canyongold@shaw.ca

Forward-Looking Statements

This news release includes certain "forward-looking statements". 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. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not be able to get equipment or labor as we need it; we with may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's most recent reports filed with the Securities and Exchange Commission.

Source:Canyon Gold Corp.