CAU Canyon Resources Corp

GOLDEN, Colo., Feb. 28 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company ("Canyon"), is pleased to announce the results of a 15-hole 4,800 foot reverse circulation drilling campaign completed in January at its Cecil R property located five miles north of its Briggs Mine in Inyo County, California. Highlights from the latest drilling campaign include: -- Hole CR07-5 with 25 feet (7.6 meters) of 0.039 ounce per ton ("opt") Au (1.35 gram per tonne ("gpt") Au). -- Hole CR07-9 with 25 feet (7.6 meters) of 0.045 opt Au (1.54 gpt Au). -- Hole CR07-12 with 30 feet (9.1 meters) of 0.025 opt Au (0.87 gpt Au). -- Hole CR08-13 with 30 feet (9.1 meters) of 0.032 opt Au (1.10 gpt Au) and a second interval of 50 feet (15.2 meters) of 0.024 opt Au (0.817 gpt Au). "This additional drilling information on the Cecil R property supports Canyon's belief that Cecil R, as a satellite deposit to our Briggs Mine, could significantly add both mine life and profitability should we proceed with surface and underground development at Briggs. Planning and permitting at Cecil R would require an estimated three years and would be initiated once mining re-starts at the Briggs Mine. The known mineralization at Cecil R could potentially extend the life of the Briggs Mine by approximately three years," comments James Hesketh, President and CEO. The goal of this drilling program was to expand known gold mineralization that is found in a tabular body at a low angle contact surface between poorly sorted bedded gravels and a gold-enriched erosion surface on crystalline basement rock. Mineralization pinches and swells and is locally cut out along this contact. Drill holes in this program tested the extensions of known gold mineralization to the north and the west and provided sufficient infill information to facilitate a new resource evaluation. The completed drilling substantially extended the known gold-bearing horizon to the north and west beyond the limits of the previous estimate of mineralization. The ridge immediately to the south of the known mineralization shows the same prospective gold-bearing horizon exposed along its flanks and in historic exploration workings. The contact zone, exposed immediately below the gravel cover along gullies cutting this ridge, is well developed and offers an attractive target for expanding the mineralized zone. Previous to this drilling campaign, an estimate of 5.75 million tons of in-place mineralized material grading 0.024 opt, using a cut-off grade of 0.015 opt, had been calculated for the Cecil R deposit. This estimate is based on the 51 holes drilled at Cecil R from 1975 to 2006. Summary Table of the 2007-2008 Cecil R Drilling Program Depth From To Intercept Intercept Grade Grade Hole (feet) (feet) (feet) (feet) (meters) (opt) (gpt) CR07-1 80 Hole lost, no samples CR07-1A 320 No significant intersection CR07-2 320 220 230 10 3.05 0.024 0.813 CR07-3 400 240 250 10 3.05 0.019 0.641 CR07-4 380 215 235 20 6.10 0.017 0.599 CR07-5 400 210 235 25 7.62 0.039 1.346 CR07-6 380 205 220 15 4.57 0.017 0.575 CR07-7 300 100 120 20 6.10 0.016 0.556 Also 140 155 15 4.57 0.022 0.74 CR07-8 300 No significant intersection CR07-9 360 60 85 25 7.6 0.045 1.535 CR07-10 300 130 150 20 6.1 0.029 0.982 CR07-11 300 140 155 15 4.6 0.022 0.754 CR07-12 300 155 185 30 9.1 0.025 0.868 CR08-13 200 40 70 30 9.1 0.032 1.095 Also 105 155 50 15.2 0.024 0.817 CR08-14 220 125 160 35 10.7 0.017 0.592 CR08-15 240 120 145 25 7.6 0.020 0.673 Assay analyses were performed by ALS Chemex of Sparks, Nevada, using a 30 gram fire assay with AA finish. The drilling and assay program has been performed under the direction of Mr. Earl Detra, a professional geologist, and Mr. Stephen Zahony, Canyon's Vice President of Exploration and qualified person. For additional information on Canyon Resources and to access the full content of this technical report, please visit our website at http://www.canyonresources.com/. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such forward-looking statements include, among others, feasibility and drilling studies for the Briggs and Cecil R projects, mineralized material estimates, reserves estimates, drilling capability and the potential reopening or expansion of the Briggs Mine. Factors that could cause actual results to differ materially from these forward-looking statements include, among others: the volatility of gold prices; potential operating risks of mining, development and expansion; the uncertainty of estimates of reserves, mineralized material and gold deposits; and environmental and governmental regulations; availability of financing; the outcome of litigation, as well as judicial proceedings and force majeure events and other risk factors as described from time to time in the Company's filings with the Securities and Exchange Commission. Most of these factors are beyond the Company's ability to control or predict. FOR FURTHER INFORMATION, CONTACT: James Hesketh, President and CEO (303) 278-8464 Valerie Kimball, Investor Relations (303) 278-8464 http://www.canyonresources.com/ DATASOURCE: Canyon Resources Corporation CONTACT: James Hesketh, President and CEO, or Valerie Kimball, Investor Relations, both of Canyon Resources Corporation, +1-303-278-8464 Web site: http://www.canyonresources.com/

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