Mr. Akiko Levinson reports

GOLD CANYON CONTINUES TO EXPAND THE PORTAGE ZONE AT SPRINGPOLE-HOLE SP10-022 INTERCEPTS 223 METERS AT 1.45 GRAMS PER TONNE GOLD

Gold Canyon Resources Inc. has intersected a very long intercept of gold mineralization in hole SP10-022, comprising 223 metres at 1.45 grams per tonne (g/t) gold (731 feet at 0.042 ounce per ton gold), including 27 metres at 4.64 g/t gold (89 feet at 0.135 ounce per ton gold), which extends the Portage zone an additional 50 metres southeast. This hole was lost at 396 metres in broken ground before it could reach its targeted depth. Hole SP10-024 twinned SP10-022 and reached its targeted depth, and assays are expected back soon. The Springpole gold project is 100 per cent controlled by the company and is located in the Red Lake mining district of Ontario, Canada.

Hole SP10-022, which was collared approximately 50 metres southeast of hole SP10-019 (307 metres at 1.44 g/t gold, as announced in the company's news in Stockwatch on Nov. 2, 2010), intersected 223 metres at 1.45 g/t gold (731 feet at 0.042 ounce per ton gold), including 27 metres at 4.64 g/t gold (89 feet at 0.135 ounce per ton gold). Hole SP10-022 was drilled at an azimuth of 220 degrees true north and an inclination of minus 45 degrees, parallel to hole SP10-019. Because hole SP10-022 did not reach its intended depth, a twin hole, SP10-024, was drilled nearby and successfully reached a targeted depth of 506 metres.

Hole SP10-022 extends the Portage zone another 50 metres southeast. This hole demonstrates good continuity of mineralization in this part of the Portage zone. Holes SP10-022 and SP10-024 are the southeast-most holes drilled by the company in 2010. The Portage zone is wide open to the southeast; this extension will be the focus of drilling this winter.

The strike length of the northwesterly striking Portage zone presently stands at approximately 950 metres. In the vicinity of SP10-022, this zone is believed to be dipping 75 degrees to the southwest to near vertical. Because SP10-022 did not reach its targeted depth, the true width of the zone cannot be estimated. Pending results from hole SP10-024, the twin of SP10-022, should allow estimation of the true width of the Portage zone in this area.

Results from the remaining eight holes from this summer's drill program are due back from the lab by mid-December. Hole SP10-024 is a longer twin of SP10-022. Holes SP10-026 and SP10-29 test the Portage zone in areas below holes SP10-007, SP10-009 and SP10-011 (see the company's news in Stockwatch on Aug. 16, 2010, and Aug. 30, 2010) at the northwest end of the Portage zone. Hole SP10-028 tests the middle portion of the zone. Three other holes -- SP10-021, SP10-023 and SP10-025 -- 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.

Silver assays have returned from holes SP10-012 and SP10-016 (see the accompanying tables). Silver was never routinely analyzed at Springpole in the past, but the company now conducts systematic assaying of silver on all new holes. The Portage zone demonstrates appreciable silver such as hole SP10-012, 133 metres at 8.55 g/t silver (436 feet at 0.250 ounce per ton silver). Silver-to-gold ratios from the Portage zone generally range from 2.5:1 to 11:1.

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 (see news in Stockwatch dated Oct. 29, 2010), to further evaluate the size of the Portage zone. The company has planned up to 10,000 metres of drilling using three diamond core rigs beginning in early January, 2011, weather permitting.

"The Portage zone continues to deliver consistent drill results," comments Dr. Quinton Hennigh, technical adviser to Gold Canyon. "Hole SP10-022 is the southeast-most hole drilled by Gold Canyon to date. We feel confident our upcoming winter drill program will continue to expand this very large gold system. We are also pleased to see consistently high silver from the Portage zone. Our silver assays suggest that, in essence, we are finding a few ounces of silver for every ounce of gold."

             SUMMARY OF SIGNIFICANT INTERVALS IN HOLE SP10-022             

               From        To     Length        Gold   Length          Gold
Hole            (m)       (m)        (m)       (g/t)     (ft)        (oz/t)

SP10-022        155       378        223        1.45      731         0.042
includes        180       207         27        4.64       89         0.135

(1) Poor to no core recovery was experienced from 378 metres to the end of
the hole at 396 metres, where the hole was lost in broken ground.

(2) Hole SP10-024 twinned SP10-022 and was drilled to 506 metres depth.
Assays are pending.

(3) Reported intervals apply a cut-off of 0.34 g/t gold (0.01 ounce per
ton gold).

(4) Weighted averages were used to calculate all the reported intervals.

(5) Internal dilution within reported intervals does not exceed core
lengths of 12 metres.

(6) One troy ounce equals 31.103 grams.

(7) Conversion factor -- g/t to troy ounces per short ton; g/t divided
by 34.2857 or g/t multiplied by 0.0292.

(8) One metre equals 3.28 feet.

             GOLD AND SILVER INTERVALS FROM HOLES SP10-012 AND SP10-016         

                                Previously                Previously   
                                 announced                 announced         
            From      To  Length        Au      Ag  Length        Au     Ag  Ag-to-Au
Hole         (m)     (m)     (m)     (g/t)   (g/t)    (ft)    (oz/t) (oz/t)     ratio

SP10-012     275     408     133      0.79    8.55     436     0.023  0.250      10.9
includes     275     284       9      2.54    6.06      30     0.074  0.177       2.4
includes     359     362       3      8.76  128.37      10     0.256  3.748      14.6

(1) This hole deviated, and as a result, did not test the full width of the
targeted zone.

(2) Short intervals of no core recovery were encountered at 314 to 317 metres,
329 to 332 metres and 362 to 365 metres.

(3) Zones of no recovery were given zero gold and silver grades in the weighted
averages.

                                Previously                Previously   
                                 announced                 announced         
            From      To  Length        Au      Ag  Length        Au     Ag  Ag-to-Au
Hole         (m)     (m)     (m)     (g/t)   (g/t)    (ft)    (oz/t) (oz/t)     ratio

SP10-016     181     187       6      0.94   17.42      20     0.027  0.509      18.8
             206     511     305      1.03    4.71   1,000     0.030  0.138       4.6
includes     289     463     174      1.35    5.62     571     0.039  0.164       4.2
includes     289     292       3      7.30   58.80      10     0.213  1.717       8.1
includes     312     322      10      2.94    8.72      33     0.086  0.255       3.0
includes     387     397      10      2.08    7.52      33     0.061  0.220       3.6

(1) Hole ends in mineralization.

(2) Short intervals of no core recovery were encountered at 247 to 250 metres
and 445 to 448 metres.

(3) Zones of no recovery were given zero gold and silver grades in the weighted
averages.

(4) Reported intervals apply a cut-off of 0.34 g/t gold (0.01 ounce per ton gold).

(5) Weighted averages were used to calculate all reported intervals.

(6) Internal dilution within reported intervals does not exceed core lengths of
eight metres.

(7) One troy ounce equals 31.103 grams.

(8) Conversion factor -- g/t to troy ounces per short ton; g/t divided by 34.2857
or g/t multiplied by 0.0292.

(9) One metre equals 3.28 feet.

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.