Canyon Copper Corp. issues clarifying news release

VANCOUVER, July 22, 2011 /CNW/ --
TSXV: CNC


OTCBB: CNYC

VANCOUVER, July 22, 2011 /CNW/ - Canyon Copper Corp. (the 'Company') (TSX-V: CNC) (OTCBB: CNYC)

As a result of a review by the British Columbia Securities Commission,
we are issuing the following news release to clarify our disclosure. 
The information contained in this news release is intended to provide
clarification to prior disclosure contained in a stockwatch eBlast
dated July 21, 2011 (the 'eBlast') and disclosure on the Company's
website (the 'Website').

We are issuing this news release to clarify the following disclosure:

1. Non-Compliant Disclosure of Mineral Resources

The eBlast and Website disclosed a mineral resource estimate for the
Longshot Ridge target at the New York Canyon Project contrary to
National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101').  This mineral resource estimate disclosure is
non-compliant with NI 43-101 for the following reasons: (i) inferred
mineral resources cannot be added to other categories of mineral
resources; (ii) fails to provide written disclosure applicable to
mineral resource estimates; and (iii) fails to state the mineral
resource estimate in tonnes and grades.  Accordingly, we advise that
such mineral resource disclosure is retracted and has been removed from
the Website.

Instead, the Company's mineral resource estimate on the Longshot Ridge
target should have been disclosed as an indicated mineral resource
estimate, at a cut-off grade of 0.2% copper, of 16,250,000 tons at an
average grade of 0.43% Cu, and an inferred mineral resource estimate,
at cut-off grade of 0.2% copper, of 2,900,000 tons at an average grade
of 0.31% Cu (see NI 43-101 Technical Report filed on SEDAR on May 6,
2010 and news release dated May 3, 2010).

2. Non-Compliant Disclosure of Historical Estimates

The eBlast and Website also disclosed a historical estimate prepared by
Conoco Oil Company that is contrary to NI 43-101.  This historical
estimate is non-compliant with NI 43-101 for the following reasons: (i)
fails to identify the source and date of the historical estimate; (ii)
does not comment on the relevance and reliability of the historical
estimate; (iii) fails to provide key assumptions, parameters, and
methods use to prepare historical estimates, if known; (iv) does not
state whether the historical estimate uses categories other than those
set out in NI 43-101; and (v) does not state that the qualified person
has not done sufficient work to classify the historical estimate as a
current mineral resource and that the Company is not treating the
historical estimate as current.  Accordingly, we advise that such
historical estimate disclosure is retracted and has been removed from
the Website.

Instead, the historical estimate should have disclosed that Conoco Oil
Company, completed a significant drilling program and outlined a
historical 'drill indicated reserve' at Copper Queen.  In an internal
report dated September 21, 1979, Conoco Oil Company outlined a
historical 'drilled indicated reserve' of 142,000,000 tons grading
0.35% copper and 0.015% molybdenum for Copper Queen.  The historical
'drilled indicated reserve' cited above is mentioned for historical
purposes only and uses terminology not compliant with current reporting
standards.  The reliability of these historical estimates is unknown
but considered relevant by the Company as it represents a target for
future exploration work by the Company.  The qualified person has not
made any attempt to re-classify the estimates accordingly to current NI
43-101 standards of disclosure or the CIM definitions.  The Company is
not treating this estimate as current mineral resources or mineral
reserves as defined in NI 43-101.  Historical reserves are not
equivalent to mineral reserves as they are not supported by at least a
preliminary feasibility study.

3. Failure to Name Qualified Person

The eBlast and Website failed to identify a qualified person who
prepared or supervised the preparation of the information in the eBlast
and the Website.  This is contrary to NI 43-101 which requires that all
written disclosure, containing scientific or technical information on a
mineral project, must disclose the name of the qualified person who
prepare or supervised the preparation of the information that forms the
basis for the written disclosure, or approved the written disclosure. 
As a result, the Company has now disclosed on its website that Benjamin
Ainsworth, P.Eng, BC, the President of the Company, is a Qualified
Person as defined by NI 43-101 and has approved the written disclosure
of the New York Canyon Project contained on the Company's Website.

Qualified Person

Mr. Ainsworth, P. Eng, BC, with Licence #8648 and the President of the
Company, is a Qualified Person as defined by NI 43-101 and has reviewed
and approved the contents of this news release.

On behalf of the Board of Directors,

'Anthony Harvey'

CANYON COPPER CORP.


Anthony Harvey, CEO and President

Cautionary Statement Regarding Forward Looking Information

This News Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements are
identified by their use of terms and phases such as 'believe,'
'expect,' 'plan,' 'anticipate' and similar expressions identifying
forward-looking statements. Investors should not rely on
forward-looking statements because they are subject to a variety of
risks, uncertainties and other factors that could cause actual results
to differ materially from the Company's expectations, and expressly
does not undertake any duty to update forward-looking statements. These
factors include, but are not limited to the following, the Company's
ability to obtain additional financing, the Company's ability to
complete the planned exploration program on the New York Canyon
Project, uncertainty of estimates of mineralized material and other
factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.

Cautionary Note to U.S. Investors Regarding Estimates of Measured,
Indicated and Inferred Resources

This News Release uses the terms 'measurer', 'indicated' and 'inferred'
'resources.'  We advise U.S. investors that while these terms are
recognized and required by Canadian regulations, the SEC does not
recognize them.  'Inferred resources' have a great amount of
uncertainty as to their existence, and great uncertainty as to their
economic and legal feasibility.  It cannot be assumed that all or any
part of an 'inferred mineral resource' will ever be upgraded to a
higher category.  Under Canadian rules, estates of 'inferred mineral
resources' may not form the basis of a feasibility study or
prefeasibility studies, except in rare cases.  The SEC normally only
permits issuers to report mineralization that does not constitute
'reserves' as in-place tonnage and grade without reference to unit
measurers.  The term 'contained copper pounds' used in this News
Release is not permitted under the rules of the SEC.  U.S. investors are cautioned not to assume that any part or all of a
measured, indicated or inferred resource exists or its economically or
legally mineable.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/22/c7143.html

Canyon Copper Corp.
Investor Relations
1-888-331-9326
(604) 331-9326
(604) 684-9365 (FAX)
info@canyoncc.com