Gold Canyon Resources Inc.VANCOUVER, BRITISH COLUMBIA, Sep 29 (Marketwire) -- Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS:GDCRF) ("GoldCanyon" or "the Company") is pleased to announce step-out diamond drillholes SP11-074 and -078 have added significant strike to the southeastend of the Portage Zone at its 100% controlled Springpole Gold Project,located 110 kilometers northeast of the Red Lake Mining Camp, Ontario,Canada. Although historic drilling suggested mineralization was presentin this area, the long gold intercepts encountered in holes SP11-074 and-078 clearly demonstrate continuity of mineralization to at least the0-200 m section. To view Map 1 - Plan section please visit the following link:https://media3.marketwire.com/docs/Plan_Section929.jpg To view Map 2 - Drill plan please visit the following link:https://media3.marketwire.com/docs/Drill_Plan929.jpg-- Diamond drill hole SP11-074 intersected 369 meters at 0.91 grams per tonne gold (1210 feet at 0.027 oz per ton gold), one of the longest continuous mineralized intervals yet encountered at Springpole. This hole was collared on the 0-050 m section and drilled at 220 degrees true north with an inclination of -45 degrees. The interval encountered in SP11-074 is remarkably similar to hole SP11-042 (402 meters at 0.76 grams per tonne gold announced in a press release dated March 29, 2011).-- Diamond drill hole SP11-078 encountered multiple intervals of mineralization including 114 meters at 0.58 grams per tonne gold (374 feet at 0.017 oz per ton gold). This hole was collared on the 0-150 m section and drilled at 220 degrees true north with an inclination of -45 degrees. Results from hole SP11-078 are very similar to nearby hole SP11-046 (announced in a press release dated April 14, 2011). Like SP11- 046, it is believed that the results from SP11-078 indicate that the drill hole passed through the upper margin of the Portage Zone. If so, this would imply that the Portage Zone is plunging to the southeast.-- Results from SP11-074 and -078 are interpreted to indicate that the Portage Zone remains open along strike and at depth to the southeast. Additional drilling to test areas underneath SP11-078 and further along strike is planned for later this fall or early winter. "We are very pleased with the results from our step-out holes," statesDr. Quinton Hennigh, technical advisor and Director of Gold CanyonResources. "Looking at a plan section, it is very clear that the systemremains wide open for expansion to the southeast. The profile of thedeposit on the 0+00 m section is roughly 300 meters wide and 400 meterstall. The very long intercept in hole SP11-074 suggests this profileprojects to the -050 m section further southeast. If such a profilecontinues even further, we can quickly add a lot of volume to this zone."Summary of Results from Step-out Holes-------------------------------------------------------------------------- Gold Gold From To Length (grams per Length (oz perHole (meters) (meters) (meters) tonne) (feet) ton)--------------------------------------------------------------------------SP11-074 73.0 77.0 4.0 0.46 13 0.013 98.0 102.0 4.0 0.77 13 0.022 121.0 490.0 369.0 0.91 1210 0.027includes 299.0 307.0 8.0 2.59 26 0.076includes 406.5 409.5 3.0 11.01 10 0.321SP11-078 108.0 135.0 27.0 0.49 89 0.014 163.0 169.0 6.0 0.50 20 0.015 194.0 203.0 9.0 0.35 30 0.010 249.0 363.0 114.0 0.58 374 0.017 409.5 437.0 27.5 0.40 90 0.012An interval of no recovery was encountered from 415.5-418.5 meters--------------------------------------------------------------------------Weighted averages were used to calculate all reported intervalsIntervals of no recovery were given a grade of zero in the calculationsabove.Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per tongold) lower cutoffInternal dilution within reported intervals does not exceed core lengthsof 8 meters.1 troy oz = 31.103 gramsConversion factor - grams per tonne to troy oz per short ton; g/t divided by34.2857 or g/t multiplied by 0.02921 meter = 3.28 feet Infill Drilling Recent infill drill results continue to demonstrate continuity and, inplaces high grades.-- Diamond drill hole SP11-072 was collared on the 0+750 m section, 50m southeast of drill hole SP11-070 (news release dated 15th September 2011), and drilled at an azimuth of 220 degrees true north with an inclination of -55 degrees and tested mid-levels of the Portage Zone. A continuous interval of 319 meters at 0.97 grams per tonne gold (1046 feet at 0.028 oz per ton gold) started at a down hole depth of 63 meters.-- Diamond drill hole SP11-073 was collared on the 0+700 m section, was vertical and drilled from a barge. This hole encountered an impressive 250 meters at 1.46 grams per tonne gold (820 feet at 0.043 oz per ton gold) starting at the bedrock interface. Included within this long interval are several intervals of higher grade mineralization including 15 meters at 5.83 grams per tonne gold (49 feet at 0.170 oz per tonne gold) starting at the bedrock interface and 28 meters at 4.57 grams per tonne gold (92 feet at 0.133 oz per ton gold) starting at 89 meters down the hole.-- Diamond drill hole SP11-075 was collared on the 0+100 m section, was vertical and drilled from a barge. This hole tested the north-eastern margin of the Portage Zone and encountered multiple intervals of mineralization, the longest of which was 206 meters at 0.91 grams per tonne gold (676 feet at 0.027 oz per ton gold). This hole ended in mineralization. "Infill drilling continues to demonstrate the robust, continuous natureof mineralization at Springpole," comments Hennigh. "When we see multiplezones of higher grade mineralization like that encountered in SP11-073,we know we have a lot more drilling to do to fully understand this large,dynamic gold system."Summary of Results from Infill Holes-------------------------------------------------------------------------- Gold Gold From To Length (grams per Length (oz perHole (meters) (meters) (meters) tonne) (feet) ton)--------------------------------------------------------------------------SP11-072 63.0 382.0 319.0 0.97 1046 0.028includes 128.0 134.0 6.0 4.14 20 0.121includes 159.0 178.0 19.0 3.29 62 0.096includes 199.0 203.0 4.0 4.28 13 0.125includes 334.0 336.0 2.0 11.21 7 0.327SP11-073 17.0 267.0 250.0 1.46 820 0.043includes 17.0 195.0 178.0 1.91 584 0.056includes 17.0 43.0 26.0 3.71 85 0.108includes 17.0 32.0 15.0 5.83 49 0.170includes 89.0 117.0 28.0 4.57 92 0.133includes 109.0 116.0 7.0 8.57 23 0.250 288.5 296.0 7.5 0.73 25 0.021An interval of no recovery was encountered from 204.5-206 metersSP11-075 113.0 319.0 206.0 0.91 676 0.027includes 163.0 244.0 81.0 1.87 266 0.055includes 201.0 217.5 16.5 3.39 54 0.099 359.0 366.0 7.0 0.52 23 0.015 384.0 399.0 15.0 0.49 49 0.014Hole ended in mineralization at 399 meters--------------------------------------------------------------------------Weighted averages were used to calculate all reported intervalsIntervals of no recovery were given a grade of zero in the calculationsabove.Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per tongold) lower cutoffInternal dilution within reported intervals does not exceed core lengthsof 14 meters.1 troy oz = 31.103 gramsConversion factor - grams per tonne to troy oz per short ton; g/t divided by34.2857 or g/t multiplied by 0.02921 meter = 3.28 feet Core was logged then split using diamond saws with one half sent foranalyses and the other half stored for future reference. Quality controlprograms include the use of field and laboratory duplicates, standards,blanks, and internal and external check assaying. Certified samplestandards were submitted with the normal sample stream. Gold and silverassays were completed by SGS Canada Inc. in Red Lake and Toronto, Ontariousing a 30 gram charge, fire assay, with an ICP finish. For over limitassay results, initial assays in excess of 10.0 grams per tonne Au, agravimetric finish is utilized. Operational Update Two barge-based and two land-based drills are currently operating on siteand will continue through freeze-up, likely in early November.Approximately 8,000 meters of core have been drilled so far this summer,and it is expected that the drills should produce around 10,000 meters ofcore. Holes drilled this summer are expected to allow the Company torevise the 43-101 compliant resource estimate for the deposit sometimelate in the second half of 2011. About Springpole Springpole is an alkaline intrusion hosting a gold system that representsa potentially new style of Canadian Archean Shield gold deposit. ThePortage zone is hosted by a trachytic porphyry intrusion displayingpolyphase autolithic breccias that host gold mineralization. Other zones,including the East Extension and Main, consist of high-grade veins andpods hosted in diatreme breccias composed of intrusive and country rockfragments. These breccias surround the northwest and northern margins ofthe Portage Zone. The known mineralized zones underlie a total known areaof about 4 square kilometers representing only about 15 percent of thegreater alkaline intrusive complex which remains yet to be explored. Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. are theQualified Persons pursuant to National Instrument 43-101 responsible for,and have reviewed and approved, the technical information contained inthis news release. Dr. Hennigh is acting as a technical adviser to GoldCanyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences,Inc. and Project Manager at Springpole.