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Canyon Resources' Uranium Joint Venture to Continue
Drilling
GOLDEN, Colo., May 23 2007 - Canyon Resources Corporation (Amex: CAU)
, a Colorado-based mining company, is pleased to announce the
continuation of uranium exploration drilling at its Converse-Sand Creek
Joint Venture. New Horizon Uranium Corporation (TSX-V: NHU ), operator
of the joint venture, has advised Canyon that drilling will commence on
or about June 4, 2007. The Converse-Sand Creek Joint Venture is operated
by New Horizon on behalf of its joint venture partners, Canyon Resources
Corporation and Energy Metals Corporation. (TSX: EMC - ; NYSE: EMU).
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New Horizon earlier completed 14 drill holes consisting of 10,395
feet of rotary drilling on the Converse-Sand Creek Project, located near
Douglas, Wyoming. New Horizon intends to drill an additional 16 rotary
drill holes comprising approximately 11,200 feet to complete its earlier
program in the "Scott Ranch" target area. The primary purpose of this
drilling program is to establish resources leading to defined reserves.
The ultimate objective of the Converse-Sand Creek Joint Venture is to
determine the feasibility of an In- situ Recovery operation in the
prolific White River Formation that extends eastward from Douglas into
western Nebraska. Bill Wilson, President and COO of New Horizon,
commented that "New Horizon is anxious to finish this round of drilling
so that additional drilling can be planned for later this year that will
aggressively advance this project." "We are very pleased to see a
continuation of this program and are hopeful, based on the positive
results of the initial round, for a favorable outcome," states James
Hesketh, President and CEO, of Canyon Resources.
About Canyon Resources
Canyon Resources, based in Golden, Colorado, was formed in 1979. The
Company has a history of precious metal and uranium exploration success
and can claim a number of significant discoveries. Canyon currently owns
the Briggs Mine in California and is currently evaluating the re-start
of that operation. Canyon is also evaluating the potential development
of the Reward Gold Project in Nevada and is a carried partner in two
uranium joint ventures. For additional information on Canyon Resources
and its projects please visit our website at
www.canyonresources.comm.
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, projections of
favorable geologic formations, environments and similarities to existing
uranium deposits. Factors that could cause actual results to differ
materially from these forward-looking statements include, among others:
the variability of natural geological settings, the volatility of
uranium prices; potential operating risks of mining, development and
expansion; the uncertainty of estimates of mineralized material and
uranium 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
For further information
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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