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Abstract
(CCNMatthews - Nov. 7, 2006) - Gold Canyon Resources Inc. (TSX VENTURE:GCU) (the "Company") is pleased to announce the completion of the first National Instrument 43-101 compliant gold resource estimate for the Core Area of the Springpole Gold Project, located in the Red Lake Mining District of Ontario, Canada. The resource estimate of 243,000 ounces of gold (Please see the table below to identify the measured, indicated and inferred categories) was received from P & E Mining Consultants Inc., independent mining consultants and Qualified Persons. The Core Area occupies approximately 500 acres of the 20,000 acres of land held by the Company in this Project.
Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "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 contemplate 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.