Mr. Benjamin Ainsworth reports

CANYON EXERCISES OPTION TO ACQUIRE 100% INTEREST IN MOONLIGHT PROPERTY AND RECEIVES TSX VENTURE EXCHANGE ACCEPTANCE TO OPTION UP TO 80% OF NEW YORK CANYON PROJECT

Canyon Copper Corp., following the termination of an option agreement with Sandfield Resources Ltd. to acquire an interest in its Moonlight property, has exercised its option to acquire a 100-per-cent interest in the property, located on the northern end of the Walker Lane belt, in Plumas county, northeast California. The exercise of the option was completed pursuant to the terms of an assignment agreement with Metamin Enterprises Inc., a private company controlled by Benjamin Ainsworth, whereby Metamin assigned to Canyon all of its rights, title and interest in and to an option agreement dated Sept. 20, 2010, as amended on Feb. 18, 2011, and Oct. 31, 2011, between Metamin and Lester Storey in respect of the Moonlight property.

Under the terms of the assignment agreement and option agreement, each of Metamin and the vendor will retain a 1-per-cent net smelter return on metals extracted from the Moonlight property, which can be repurchased by Canyon for $1-million, and a gross overriding royalty of 2.5 per cent on receipts from the sale of industrial metals.

Benjamin Ainsworth, chief executive officer of Canyon, stated: "The acquisition of a 100-per-cent interest in the Moonlight property, which occupies approximately 2,500 hectares (6,300 acres) of unpatented claims, is an important milestone for Canyon. Our exploration program will focus on the exploration and drilling of the oxide copper and soluble copper sulphide mineralization located in the Moonlight copper deposit and possible extensions, identified by geochemical surveys on claims adjacent to it."

New York Canyon property option agreement

Canyon is also pleased to announce that the TSX Venture Exchange has accepted the filing of the property option agreement with Falcon Gold Corp. whereby Canyon has agreed to option up to an 80-per-cent interest in its New York Canyon project (see news release dated June 9, 2014). As a result, Canyon received the initial option payments of $20,000 cash, 250,000 common shares of Falcon and warrants to acquire 500,000 common shares of Falcon at 10 cents per share, as well as a $30,000 lease payment.

We seek Safe Harbor.