Canyon Resources Provides Update

GOLDEN, Colo., Feb. 1 /PRNewswire-FirstCall/ -- Canyon Resources Corporation , a Colorado-based mining company, is pleased to provide an update of our activities.

Briggs Project

Project activities at the Company's wholly owned Briggs Mine are focused on developing plans to re-start mining at the site in light of the current strong gold market. The mine retains its operating permits and residual gold production from the heap leach pad is ongoing.

WLR Consulting (WLR) of Lakewood, Colorado, has completed scoping-level engineering analysis and mine design work on potential open pit mining opportunities around the existing Briggs pits and at the Cecil R deposit, a potential satellite pit to Briggs located about five miles to the north. WLR identified potential mining opportunities around the Briggs Main and Briggs South Unit pits using the existing site block model, updated operating costs and historical site gold recovery rates. This analysis developed sufficient mineralized material within designed pits to provide internal justification for continued expenditure on drilling and feasibility studies at the site. Geologic review of these targets shows the potential for open extension of mineralization both along strike and to depth. Additional drilling is required before a final study can be completed. A reverse circulation drilling rig has been mobilized to the site to conduct a 25-hole, 7,600 foot drilling program around the main Briggs pit. The first six holes, totaling 2,975 feet of drilling, have intercepted expected geology and the assays are pending.

A block model has been constructed using 51 existing drillholes at the Cecil R deposit and scoping level economic analysis and mine design work has been completed. This analysis produced sufficient mineralized material within a designed pit shell to justify additional drilling and feasibility study. Geologic review of this project indicates the presence of potential open extensions to the deposit along strike in both directions. A drilling program has been designed for this property and permits for the drilling program have been approved. Additional environmental study and permitting work would be required to allow mining at Cecil R.

As previously announced, drilling operations are being conducted on potential high grade underground mining targets associated with the Goldtooth fault around the previously mined Briggs North and Goldtooth pits. One diamond drill hole has been completed which targeted the potential high grade feeder structure under the Goldtooth pit. This core hole was successful in intercepting the anticipated geologic structure at approximately 150 feet below pit bottom, intersecting gold mineralization over 89 feet averaging 0.013 opt of gold. This intercept included nine feet averaging 0.068 opt of gold, within which three feet contained 0.141 opt of gold. This result is sufficiently encouraging to justify additional drilling on the Goldtooth target. Construction of a drill road to our high priority drilling target at Briggs North has been completed, but difficult core drilling conditions were encountered on the second hole of this program, reducing drilling productivity. The core rig has been released and a second reverse circulation rig, which has been proven to be more productive in this type of ground, has been contracted.

James Hesketh, President & CEO noted: "We are very encouraged by these results. The potential at Briggs and its satellite pits, when combined with the recently announced positive study for our nearby Reward Project in Beatty, Nevada, provide justification for our ongoing activities on these projects. The Briggs Mine, with its existing mining permit, is our focus and first priority. We believe that the opportunity exists to develop reserves at the site with the completion of additional drilling and feasibility study, therefore we are accelerating our drilling programs with the addition of another drill rig."

Land

The Company has completed a claim staking program, adding 54 additional claims, each about 20 acres in size, around our Briggs location and 84 claims around our Reward property. These claims provide additional security to our existing land positions and increase the potential for discovery on structural trends that exist on the property.

Corporate

Dr. Gary C. Huber has resigned as a Director and Officer of the Company and will be leaving to pursue other interests. Dr. Huber most recently served as Vice President of Finance and Corporate Development. Gary founded the company in 1979 with two other geologists, one of whom was Dr. Richard De Voto, Gary's Ph.D Professor at the Colorado School of Mines. "Gary was my partner side by side and has been an integral part in Canyon's successes in the past 27 years. Together we raised over $100,000,000 in equity and debt financing," comments Chairman, Dr. Richard De Voto. Gary will continue to support the Company as a consultant. "We would like to extend our sincere gratitude to Gary for his 27 years of service with the Company and wish him the greatest success in the future," states James Hesketh.

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act or 1933, as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such forward-looking statements include, among others, feasibility studies for the Briggs and Reward projects, mineralized material 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 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 [phone] Valerie Kimball, Investor Relations [phone] http://www.canyonresources.com/