Gold Canyon Announces Completed Results of Gold Assays from its 2011 Resource Drill Program at the 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 December 14, 2011 NEWS RELEASE Gold Canyon Announces Completed Results of Gold Assays from its 2011 Resource Drill Program at the Springpole Gold Project Gold Canyon Resources Inc. (GCU: TSX-V) ( Gold Canyon or the Company ) is pleased to announce the completion of gold assays from samples submitted from its 2011 resource drilling program at the Springpole Gold Project. These assays make up the last group that are intended to be included in the forthcoming National Instrument (NI) 43-101 technical report and mineral resource statement, due to be released in January 2012. The completed sample assays included results from five diamond drill holes: SP11-097, -098, -099, - 100 and -104, which all tested the Portage Zone ore body. The results included multiple long intercepts of gold mineralization: including 148 meters at 1.66 grams per tonne gold (48 feet at 0.048 oz per ton gold) which includes 24 meters at.94 grams per tonne gold (79 feet at 0.173 oz per ton gold) in hole SP11-104. Another hole, SP11-098, intersected 121 meters at 1.67 grams per tonne gold (397 feet at 0.049 oz per ton gold) including 37 meters at 3.21 grams per tonne gold (121 feet at 0.094 oz per ton gold) and a second interval of 90 meters at 2.00 grams per tonne gold (29 feet at 0.08 oz per ton gold) including 40. meters at 3.74 grams per tonne gold (133 feet at 0.109 oz per ton gold). Since July, nearly 16,200 meters have been drilled at Springpole, 3% more meters than originally planned. Assays for three recently completed holes are due back by the end of the month. Drilling has been suspended for the Christmas season; it is scheduled to resume in mid-january, once sufficient lake ice thickness has been built up over the target area to permit drilling on Springpole Lake. The upcoming winter diamond drill program will comprise of infill drilling and testing of new targets, including the southeast strike projection of the Portage Zone. At least 0,000 meters of drilling are planned at Springpole in 2012. We are very pleased to now have all the gold assays needed to complete our revised NI 43-101 compliant resource at Springpole, comments Dr. Quinton Hennigh, Technical Advisor to, and Director of, Gold Canyon. The results from these holes are very encouraging, and are consistent with the many long intercepts of gold mineralization that we have reported since the beginning of our drilling campaign here twenty-two months ago. Summary of Drill Results Diamond drill holes SP11-098 (situated on the 0+00 m section line) and SP11-104 (situated on the 0+40 m section line) were both drilled at an azimuth of 220 degrees true north with an inclination of -4 degrees. Both holes were designed to test the mid-levels of the Portage Zone. Hole SP11-104 intersected 148 meters at 1.66 grams per tonne gold (48 feet at 0.048 oz per ton gold) including 24 meters at.94 grams per tonne gold (79 feet at 0.173 oz per ton gold). Hole SP11-098 intersected 121 meters at 1.67 grams per tonne gold (397 feet at 0.049 oz per ton gold) including 37 meters at 3.21 grams per tonne gold (121 feet at 0.094 oz per ton gold) and a second, deeper interval of 90 meters at 2.00 grams per tonne gold (29 feet at 0.08 oz

2 per ton gold) including 40. meters at 3.74 grams per tonne gold (133 feet at 0.109 oz per ton gold) and ended in mineralization. The upper intercept in hole SP11-098 is part of the Bridge Zone, a recently discovered body of near-surface mineralization between the Portage and East Extension Zones. This is the longest and highest grade interval yet encountered in this potentially significant new mineralized zone. Diamond drill hole SP11-097, a vertical infill hole drilled from a barge on the 0+100 m section line, tested the southwest shoulder of the Portage Zone. This hole intersected 33 meters at 0.71 grams per tonne gold (108 feet at 0.021 oz per ton gold) starting at the bedrock interface immediately beneath lake bottom sediments. A second interval of 91 meters at 0.79 grams per tonne gold (298 feet at 0.023 oz per ton gold) was encountered deeper in the hole which ended in mineralization. Diamond drill hole SP11-099, situated on the 0+400 m section line, was drilled at an azimuth of 220 degrees true north with an inclination of -4 degrees and tested mid- to deep levels of the Portage Zone. This hole intersected 176 meters at 0.80 grams per tonne gold (77 feet at 0.023 oz per ton gold). Additional intervals of gold mineralization were encountered further down hole outside of the southwest margin of the Portage Zone. This hole ended in mineralization. Diamond drill hole SP11-100, situated on the 0+40 m section line and drilled at an azimuth of 220 degrees true north and inclination of -0 degrees, tested deeper parts of the Portage Zone in this area. This hole intersected 77. meters at 0.62 grams per tonne gold (24 feet at 0.018 oz per ton gold). Summary of Results from Holes SP11-097 through -104 Hole From To Gold (grams per tonne) (feet) Gold (oz per ton) SP11-097 27.0 60.0 33.0 0.71 108 0.021 98.0 103.0.0 0.82 16 0.024 16.0 169.0 4.0 0.44 13 0.013 189.0 193.0 4.0 1.1 13 0.034 200.0 291.0 91.0 0.79 298 0.023 includes 218.0 230.0 12.0 1.6 39 0.048 Hole ended in mineralization at 230 meters SP11-098 3.0 124.0 121.0 1.67 397 0.049 includes 11.0 48.0 37.0 3.21 121 0.094 includes 16.0 21.0.0 7.3 16 0.220 includes 32.0 34.0 2.0 13.98 7 0.408 includes 69.0 81.0 12.0 3.60 39 0.10 includes 70.0 72.0 2.0 7.78 7 0.227 includes 78.0 81.0 3.0.6 10 0.16 200. 206. 6.0 0.37 20 0.011 311. 401. 90.0 2.00 29 0.08 includes 361.0 401. 40. 3.74 133 0.109 includes 361.0 376.0 1.0.24 49 0.13 Hole ended in mineralization at 401. meters No core was recovered from 320.-322 meters

3 cont d: Summary of Results from Holes SP11-097 through -104 Hole From To Gold (grams per tonne) (feet) Gold (oz per ton) SP11-099 9.0 16.0 7.0 0.90 23 0.026 67.0 80.0 13.0 0.34 43 0.010 24.0 430.0 176.0 0.80 77 0.023 includes 398. 418.0 19. 2.01 64 0.09 40.0 44.0 4.0 0.3 13 0.01 460.0 463.0 3.0 1.38 10 0.040 Hole ended in mineralization at 463 meters No core was recovered from 27-260 meters SP11-100 209.0 213.0 4.0 0.46 13 0.013 29.0 263.0 4.0 0.68 13 0.020 322.0 333.0 11.0 0.31 36 0.009 404. 482.0 77. 0.62 24 0.018 11.0 18.0 7.0 1.3 23 0.039 Holes SP11-101 through -103 are condemnation holes (for future development site locations) with no significant gold values SP11-104 4.0 16.0 12.0 0.41 39 0.012 29.0 39.0 10.0 0.7 33 0.017 67.0 69.0 2.0 0.90 7 0.026 78.0 82.0 4.0 0.3 13 0.010 279.0 427.0 148.0 1.66 48 0.048 includes 332.0 36.0 24.0.94 79 0.173 443.0 448.0.0 0.41 16 0.012 Weighted averages were used to calculate all reported intervals Intervals of no core recovery were given a gold grade of 0 gpt in the weighted averages above 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 10 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 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.

4 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 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 Senior Exploration Geologist 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 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 This news release contains statements that constitute forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 199 or "forward looking information" within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting" and "intend" and statements that an event or result "may", "will", "would", "should", "could", or "might" occur or be achieved and other similar expressions. Forwardlooking statements in this news release include statements regarding the timing and nature of permitting studies, the timing and nature of infrastructure developments and construction, projections of future optimization, production timeline targets, the timing of negotiations with third parties, and the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on any of Gold Canyon s projects.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Gold Canyon and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Gold Canyon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Gold Canyon and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although Gold Canyon has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ. Forward-looking statements contained herein are made as of the date of this news release and Gold Canyon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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.

48400 48600 48800 49000 49200 49400 49600 49800 0000 0200 SP11-066 SP10-023 SP10-02 SP11-030 SP11-070 694200 694200 SP11-090 SP11-067 Ounces/Ton 0.68-1.026 0.02-0.03 693200 0.34-0684 1.027-1.711 1.712-3.424 3.42-10.273 10.273 693000 µ 0.01-0.02 0.03-0.0 0.0-0.10 0.10-0.30 0.30 2011 Collars 2010 Collars Meters 48400 48600 694000 693800 693600 2011 Drill Traces (Assays Released) 2010 Drill Traces Historic Drilling Lake Surface SP11-063 SP11-062 100 UTM WGS 84 Zone 1N SP11-00 693200 Grams/Tonne SP11-0 693000 Cutoff Value of 0.34 grams/tonne or 0.01 oz/ton 693400 693400 693600 693800 694000 SP11-092 SP11-031 SP11-072 SP10-026 SP11-09 SP10-014SP10-01 SP10-001 SP10-007 SP10-018 SP10-009 SP10-029 SP11-100 SP10-017 SP10-004 SP11-079 SP10-013 SP11-073 SP11-098 SP10-011 SP11-081 SP11-03 SP11-032 SP11-104 SP10-020 SP11-099 SP11-083 SP11-033 SP10-003 SP10-021 SP11-083A SP11-037 SP11-094 SP11-038 SP11-034 SP11-041 SP11-091 SP11-039 SP11-044 SP10-012 SP11-048 SP11-040 SP10-010 SP10-008 SP11-096 SP11-060 SP11-03 SP10-027 SP11-08 SP10-028 SP11-043 SP11-07 SP10-016 SP11-06 SP11-080 SP10-002 SP10-00 SP10-019 SP11-088 SP11-04 SP11-04A SP11-071 SP10-022 SP11-04 SP11-07 SP10-024 SP11-084 SP11-047 SP11-09 SP11-074 SP11-082 SP11-042 SP11-02 SP10-006 SP11-068 SP11-036 SP11-049 SP11-078 SP11-097 SP11-01 SP11-093 SP11-046 SP11-087 SP11-064 14 December 2011 kdb2011 48800 49000 49200 49400 49600 49800 0000 0200