Mr. Akiko Levinson reports

GOLD CANYON INTERSECTS 307 METERS AT 1.44 GRAMS PER TONNE GOLD INCLUDING 100 METERS AT 2.70 GRAMS PER TONNE GOLD AT SPRINGPOLE GOLD PROJECT

Gold Canyon Resources Inc. has further extended the Portage zone to the east with a very long intercept of gold mineralization encountered in hole SP10-019: 307 metres at 1.44 grams per tonne gold (1,007 feet at 0.042 ounce per ton gold) including 100 metres at 2.70 grams per tonne gold (328 feet at 0.079 ounce per ton gold).

• Hole SP10-019, collared approximately 50 metres southeast of hole SP10-016 (305 metres at 1.03 grams per tonne gold, as announced in Stockwatch on Oct. 8, 2010) intersected 307 metres at 1.44 grams per tonne gold (1,007 feet at 0.042 ounce per ton gold) including 100 metres at 2.70 grams per tonne gold (328 feet at 0.079 ounce per ton gold). Hole SP10-019 was drilled at an azimuth of 220 degrees true north and inclination of minus-45 degrees, parallel to hole SP10-016. SP10-019 extends the strike of the Portage zone by 50 metres southeast.
• In terms of grade thickness, hole SP10-019 is the best hole drilled across the Portage zone to date at 454 gram metres total. Hole SP10-019 is the third drill hole from the 2010 program that tests the strike extent of the Portage zone to the southeast. Results from hole SP10-019 combined with the results from hole SP10-016 (305 metres at 1.03 grams per tonne gold, as announced in Stockwatch on Oct. 8, 2010) and hole SP10-008 (123.0 metres at 1.45 grams per tonne gold, as announced in Stockwatch on Aug. 16, 2010) demonstrate good continuity of mineralization in this southeastern-most part of the Portage zone and indicate the zone is wide open to the southeast.
• The strike length of the Portage zone presently stands at approximately 900 metres. This zone strikes northwest and is believed to be dipping 75 degrees to the southwest to near vertical in the vicinity of hole SP10-019. Therefore, the minimum true width represented by this intercept is believed to be 153 metres. Because hole SP10-019 was drilled from shore, it tested this zone to depths of approximately 350 metres. A historic hole, BL-128, was collared from the ice and drilled across the Portage zone approximately 170 metres northwest of hole SP10-019. It encountered gold mineralization starting at surface. Therefore, it is believed that the Portage zone extends to surface above the intercept in hole SP10-019. Planned drill holes to be collared from the ice this coming winter will test shallow parts of this zone for confirmation.
• Results from the remaining nine holes from the drill program this summer are due back from the assay lab over the next few weeks. Included are five additional holes that test various parts on the Portage zone. Holes SP10-22 and -24 test the strike of the Portage zone 50 metres farther southeast from hole SP10-019. Holes SP10-026 and -29 test the Portage zone in areas below holes SP10-007, -009 and -011 (see Aug. 16, 2010, and Aug. 30, 2010, news releases in Stockwatch) at the northwest end of the Portage zone. Hole SP10-028 tests the mid-portion of the zone. Three other holes, SP10-021, -023 and -025, test other targets on the property. Hole SP10-027 was terminated at 115 metres when the drill hole deviated off course and thus was unable to reach its intended target zone. In total, the company has drilled approximately 10,300 metres of diamond core at Springpole in 2010.
• Holes SP10-018 and -020 targeted deep below the East Extension zone which lies about 500 metres northeast of the Portage zone. Both holes encountered low-level gold mineralization.
• Plans are being made for the winter, 2011, diamond drill program. The company is planning an aggressive drill program, financed by the recently completed $6-million financing (as announced in Stockwatch on Oct. 29, 2010), to further evaluate the size of the Portage zone. Up to 10,000 metres of drilling are planned utilizing three diamond core rigs beginning in early January, 2011, weather permitting.

            SUMMARY OF INTERVALS FROM HOLE SP10-019 -- PORTAGE ZONE

                  From         To     Length       Gold     Length        Gold
Hole          (metres)   (metres)   (metres)      (g/t)     (feet) (ounce/ton)

SP10-019            84         88          4       1.30         13       0.038
                   156        166         10       0.71         33       0.021
                   182        489        307       1.44       1007       0.042
includes           232        332        100       2.70        328       0.079

Notes:
Intervals of no core recovery were encountered at 418 metres to 421 metres
and 430 m to 442 m.
Zones of no recovery were given zero gold grade in the weighted calculations
above.
Reported intervals apply a 0.34 g/t gold (0.01-ounce-per-ton-gold)
cut-off.
Internal dilution within reported intervals does not exceed core lengths of
eight metres.
All reported assay intervals are weighted.
One troy ounce equals 31.103 grams.
Conversion factor -- grams per tonne to troy ounces per short ton is g/t
divided 34.2857 or g/t multiply by 0.0292.
One metre equals 3.28 feet.

"The gold intercept in hole SP10-019 is very important because it likely tells us that the true strike of the Portage zone falls north of some historic holes collared a few hundred metres south and southeast of SP10-019," comments Dr. Quinton Hennigh, technical adviser to Gold Canyon. "Those historic holes all intersected long intervals of low-grade gold mineralization typical of that along the fringes of the Portage zone. It is possible that low-grade gold mineralization in those holes simply provides an indication that the Portage zone passes nearby. We are hopeful this is the case and plan on demonstrating it with some well-placed drill holes this winter."

The summer, 2010, diamond drill program, now complete, is part of a continuing program of drilling and remodelling of the Springpole deposit to move it toward prefeasibility. Drilling is planned to continue through April, 2011, at which time work will begin on revising the resource estimate for the deposit.

Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. Springpole shares many similarities with deposits such as the Cripple Creek gold deposit in Colorado. The Portage zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that contain gold mineralization of remarkably uniform grade. Other zones including East Extension, Camp and Main consist of high-grade veins and pods hosted in diatreme breccias composed of intrusive and country rocks. These diatreme breccias surround the northwest and northern margins of the Portage zone. The known mineralized zones underlie a total known area of about four square kilometres representing only about 15 per cent of the greater alkaline intrusive complex which yet remains to be explored.

Core was logged, then split using diamond saws, with one-half sent for analyses and the other half stored for future reference. Quality control programs include the use of duplicates, standards and internal and external check assaying. Certified sample standards were submitted with the normal sample stream. Gold and silver assays were completed by SGS Canada Inc. in Red Lake and Toronto, Ont., using a 30-gram charge, fire assay, with an ICP finish. For overlimit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized.

Dr. Hennigh, PhD, PGeo, and Alan Roberts, MSc, PGeo, are the qualified persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to Gold Canyon and Mr. Roberts is the senior geologist of Alaska Earth Sciences Inc. and project manager at Springpole.