• Saskatchewan Mineral Development Strategy Targets Canyon Copper’s Exploration Areas South West of Creighton, Saskatchewan
• Updated Airborne Geophysical Survey, preparation underway
• Plans for partial Government rebate of drilling expenses
Vancouver, British Columbia, April 26, 2018 - Canyon Copper Corp. ("Canyon" or the “Company”) (TSX-V: CNC) is pleased to share news that the Government of Saskatchewan is creating a 4-year Mineral Development Strategy that targets Canyon Copper’s exploration areas south west of Creighton, Saskatchewan and Flin Flon, Manitoba. This is an area that the Government of Saskatchewan states that it holds high potential for base metals, precious metals and diamonds. The Company has been informed by letter from the Government of Saskatchewan of the planned initiative. Click here to view the letter.
The focus of this intuitive is on exploration, including targeted geophysical surveys, geoscience work by the Saskatchewan Geological Survey and a mineral exploration incentive aimed at exploration activities, particularly drilling. A key emphasis of the strategy will be to encourage base metal exploration in the Creighton-Denare Beach area, which has had a long history of base metal mining and processing.
Canyon now holds a total of 7,280 hectares south west of Flin Flon, Manitoba and Creighton, Saskatchewan within the Flin Flon Greenstone Belt. This is an area of renewed mineral exploration interest with the Federal and Saskatchewan governments signing an agreement in December 2017 worth approximately $2million to conduct an airborne geophysical survey southwest of Creighton. Click here to view news article.
This airborne geophysical portion of the Mineral Development Strategy is underway with the beginning of the tendering process to determine which companies or providers will conduct the survey. It is expected the details of the Mineral Exploration incentive including a partial rebate of drilling expenditures will be outlined in the near future. Click here to view news article.
In 2018, the Fraser Institute Annual Survey of Mining Companies ranked Saskatchewan the 2nd most attractive jurisdiction in the world for mining investment.
Stephen Wallace, President and CEO of Canyon stated, “Canyon Copper agrees with the high ranking of Saskatchewan by the Fraser Institute. Since the Company began working in Saskatchewan in May 2017 the support by the Saskatchewan Government has been first class. And the Mineral Development Strategy reinforces the benefits of exploration and mine development in Saskatchewan.”
In March 2018 Canyon completed a 4-hole diamond drill program totaling 1,446 metres with three drill holes completed at the past producing Rio mine and one at the past producing Newcor mine. Drill logging and sampling is underway and initial results are expected in the first half of May 2018.
International Mining Investment Conference
Canyon Copper is also pleased to announce the Company will be exhibiting at the International Mining Investment Conference taking place May 15-16 in Vancouver at the Vancouver Convention Centre East.
Stephen Wallace PGeo is the Company's designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
Canyon Copper Corp.
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 Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Canyon's ability to implement its proposed drill programs on the Bootleg Project, Canyon’s ability to obtain additional financing, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon 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 may use the terms “measured”, “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 measures. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.
NEITHER 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 RELEASE.