VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2009) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that its wholly owned subsidiary Gold Canyon Kratz Spring LLC and its joint venture participant Japan Oil, Gas and Metals National Corporation (JOGMEC) have reached an agreement for the April 2009 - March 2010 fiscal year work program and budget on May 15, 2009. Under the terms of the Joint Exploration Agreement (JEA), JOGMEC holds an 80% option to all of the JEA projects and the budget of US $460,000 was approved for this fiscal year.
The JEA was entered into on January 19, 2009. Gold Canyon Kratz Spring LLC, as the operator of the JEA, will conduct Rare Earth Element (REE) exploration and project identification. The objective of the JEA is to identify, analyze and perform metallurgical evaluations leading to production of REEs from Iron Oxide Copper Gold +/-Rare Earth Element (IOCG+/-REE) style deposits.
JOGMEC is a government organization established under the Japanese Ministry of Economy, Trade and Industry, and is responsible for fostering international exploration and development of strategic minerals, amongst other mineral and petroleum related activities.
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 Shoreham Resources Inc. 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.
Akiko Levinson, President & Director
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