NEWS RELEASE GOLD CANYON INTERCEPTS 286 METERS AT 1.03 GRAMS PER TONNE GOLD CONFIRMING NORTHEAST DIP OF PORTAGE ZONE AT SPRINGPOLE GOLD PROJECT

GOLD CANYON RESOURCES INC. GCU: TSX-V Suite 810-609 Granville Street, P.O. Box 1036 Pacific Centre, Vancouver, BC, Canada V7Y 1G Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 682-037 www.goldcanyon.ca August 30, 2011 NEWS RELEASE GOLD CANYON INTERCEPTS 286 METERS AT 1.03 GRAMS PER TONNE GOLD CONFIRMING NORTHEAST DIP OF PORTAGE ZONE AT SPRINGPOLE GOLD PROJECT Gold Canyon Resources Inc. (GCU: TSX-V) ( Gold Canyon or the Company ) is pleased to announce hole SP11-071 intersected 286 meters at 1.03 gram per tonne gold (938 feet at 0.030 oz per ton gold) including 197 meters at 1.30 grams per tonne gold (646 feet at 0.038 oz per ton) at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. The intercept encountered in this hole indicates that the Portage Zone dips northeast at approximately -70 degrees and remains open at depth. Diamond drill hole SP11-071 intersected 286 meters at 1.03 gram per tonne gold (938 feet at 0.030 oz per ton gold) including 197 meters at 1.30 grams per tonne gold (646 feet at 0.038 oz per ton). This hole, situated on the 0+00 meter section, is oriented at 220 degrees true north with an inclination of -60 degrees. The drill hole undercuts previous drilling on this section including hole SP10-024 (22 meters at 1.48 grams per tonne gold announced in a news release dated November 23, 2010). The intercept encountered in SP11-071 indicates that the Portage Zone dips northeast at approximately -70 degrees and remains open at depth. Previous to drilling hole SP11-071, the Portage Zone was believed to dip at approximately -7 degrees southwest with a true width estimated at about 140 meters. The newly interpreted geometry results in a true thickness of approximately 220 meters in this area. The Company has plans to step back and drill under hole SP11-071 to further evaluate the continuation of the Portage Zone at depth. Drilling is underway along strike from this intercept to the southeast where it is believed mineralization should continue. Earlier this year, we tested the depth extension of the Portage Zone by drilling hole SP11-063 from the southwest shore to the northeast, states Dr. Quinton Hennigh, Technical Advisor to and Director of Gold Canyon Resources. As it turns out, that hole drilled down the southwest margin of the deposit encountering its low grade fringe. Hole SP11-071 clearly indicates the deposit dips northeast, is wider than previously thought, and remains open at depth. Summary of Results from SP11-071 Hole From To Length Gold (grams per tonne) Length (feet) Gold (oz per ton) SP11-071 149.0 43.0 286.0 1.03 938 0.030 includes 211.0 408.0 197.0 1.30 646 0.038 includes 20.0 284.0 34.0 2.92 112 0.08 includes 272.0 281.0 9.0.3 30 0.161 includes 333.0 34.0 12.0 2.43 39 0.071 includes 391.0 396.0.0 3. 16 0.104 Weighted averages were used to calculate all reported intervals Reported intervals apply a 0.2 gram per tonne gold (0.006 oz per ton gold) lower cutoff Internal dilution within reported intervals does not exceed core lengths of meters. 1 troy oz = 31.103 grams Conversion factor - grams per tonne to troy oz per short ton; g/t divided by 34.287 or g/t multiplied by 0.0292 1 meter = 3.28 feet

2 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 field and laboratory duplicates, standards, blanks, 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, Ontario using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized. Operational Update The numerous forest fires in the area that caused delays earlier this summer have diminished. Two barge-based and two land-based drills are currently operating on site and will continue through freeze-up, likely in early November. Approximately 4,000 meters of core have been drilled so far this summer, and it is expected that the drills should produce around 10,000 meters of core, somewhat less than the 12,000 meters that was originally planned. Holes drilled this summer are expected to allow the Company to revise the 43-101 compliant resource estimate for the deposit sometime late in the second half of 2011. About Springpole Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. The Portage zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that host gold mineralization. Other zones including the East Extension, Camp and Main, consist of high-grade veins and pods hosted in diatreme breccias composed of intrusive and country rock fragments. These breccias surround the northwest and northern margins of the Portage Zone. The known mineralized zones underlie a total known area of about 4 square kilometers representing only about 1 percent of the greater alkaline intrusive complex which remains yet to be explored. Quinton Hennigh, Ph.D., P.Geo. and Alan Roberts, M.Sc., P.Geo. 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 Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc. and Project Manager at Springpole. About Gold Canyon Resources Inc.: Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp. pursuant to an option and joint venture agreement entered into in December 200 - all in the Red Lake Mining District of Ontario, Canada. Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A. Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009. Additional information can be found on the Company s website: www.goldcanyon.ca Akiko Levinson, President & Director

3 For further information, please contact: Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 682-037 info@goldcanyon.ca Investor Relations: Leo Karabelas, Tel: (416) 43-3120 Email: leo@frontlineir.com Certain statements contained in this news release using the terms may, expects to, project, estimate, plans, and other terms denoting future possibilities, are forward-looking statements in respect to various issues including upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company s business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company s disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and are also significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

49000 49200 49400 694000 49800 0000 0200 SP11-066 SP11-067 SP10-023 SP10-023 SP10-02 SP11-030 SP11-031 49600 694200 48800 SP10-026 SP10-01 SP10-014 SP10-018 SP10-001 SP10-007 SP10-009 SP10-004 SP10-013 SP10-029 SP10-017 SP10-011 SP11-03 SP11-032 SP10-020 SP11-033 SP10-021 694000 48600 694200 48400 SP10-003 SP11-037 SP11-038 SP11-034 SP11-041 SP11-039 SP11-044 SP11-048 SP10-012 SP11-040 SP10-010 SP11-03 SP11-060 SP10-008 SP10-027 SP11-08 SP10-028 SP11-043 SP11-07 SP10-002 SP10-016 SP10-00 SP11-06 SP10-019 SP11-04 SP11-04A SP11-071 SP10-022 SP11-04 SP10-024 SP11-047 SP11-09 SP11-042 SP11-02 SP10-006 SP11-036 SP11-049 693800 693600 693600 693800 SP11-01 SP11-064 3.42-10.273 10.273 693000 µ 0.0-0.10 0.10-0.30 0.30 693200 693200 1.712-3.424 0.03-0.0 2010 Collars 2011 Drill Traces (Assays Released) 2010 Drill Traces Historic Drilling Lake Surface SP11-063 SP11-062 100 30 August 2011 kdb2011 Meters UTM WGS 84 Zone 1N 48400 48600 SP11-0 693000 0.02-0.03 1.027-1.711 0.01-0.02 SP11-00 2011 Collars 0 0.68-1.026 0.34-0684 0+ Ounces/Ton tio n Grams/Tonne Se c Cutoff Value of 0.34 grams/tonne or 0.01 oz/ton 693400 693400 SP11-046 48800 49000 49200 49400 49600 49800 0000 0200