Gold Canyon Resources Inc.: Grant of Incentive Stock Options
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/18/11 -- Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ('Gold Canyon' or 'the Company') announces that it has, pursuant to the Company's Rolling Stock Option Plan (the 'Option Plan'), granted incentive stock options to certain directors, senior officers, employees and consultants to purchase an aggregate of 3,300,000 common shares at an exercise price of $3.50 per share, representing a premium to today's closing price of the Company's common shares as reported on the TSX Venture Exchange (the 'Exchange'). The stock options vest over the first year, in three equal instalments from the date of grant (subject to acceleration in the event of a change of control), and expire on April 18, 2013. The grant is subject to Exchange annual acceptance of the Option Plan which was recently re-affirmed by the shareholders of the Company at the Annual General Meeting on April 13, 2011.
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 2005 - 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
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.
Contacts:
Gold Canyon Resources Inc.
Akiko Levinson
President & Director
(604) 682-3234 or Toll free: 1 (888) 242-3234
(604) 682-0537 (FAX)
info@goldcanyon.ca
www.goldcanyon.ca
Investor Relations
Leo Karabelas
(416) 543-3120
leo@frontlineir.com