VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/24/12 -- Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINKSHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce assays from its 2012 winter drill program at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Hole SP12-118, a hole testing deeper parts of the Portage Zone, intersected 188.3 meters at 1.93 grams per tonne gold (618 feet at 0.056 oz per ton gold) including 71 meters at 3.80 grams per tonne gold (233 feet at 0.111 oz per ton gold). Another hole, SP12-119A intersected 3 meters at 41.37 grams per tonne gold (10 feet at 1.208 oz per ton gold) in a new high-grade structural zone.

Drill Collar Map: http://media3.marketwire.com/docs/gc423m.pdf

--  Diamond drill hole SP12-118 was drilled on the 0+450 meter section line
    at an azimuth of 220 degrees true north and an inclination of -45
    degrees. This hole tested deeper parts of the Portage Zone in this area
    and intersected 188.3 meters at 1.93 grams per tonne gold (618 feet at
    0.056 oz per ton gold) including 71 meters at 3.80 grams per tonne gold
    (233 feet at 0.111 oz per ton gold). These results are very similar to
    those encountered in hole SP11-106 (127.5 meters at 3.51 grams per tonne
    gold announced in a news release date January 27, 2012) drilled on the
    0+500 meter section line 50 meters to the northwest. This higher grade
    shoot remains open at depth. 
--  Diamond drill hole SP12-119A, a vertical hole situated on the 0+600
    meter section line, intersected 3 meters at 41.37 grams per tonne gold
    (10 feet at 1.208 oz per ton gold) in a previously unrecognized high
    grade structural zone between the Portage and East Extension zones. The
    exact orientation and width of this high-grade structure is uncertain at
    this time. 
--  Diamond drill holes SP12-113 and SP12-117A, both situated on the 0+300
    meter section line and drilled at an azimuth of 220 degrees true north
    and an inclination of -45 degrees, tested peripheral parts of the
    Portage Zone. Both holes intersected long intervals of gold
    mineralization (please refer to table) in areas approximately 50 meters
    beneath the National Instrument 43-101 ("NI 43-101) compliant resource
    model, which was announced on February 27, 2012. 
--  Diamond drill hole SP12-114 was drilled on the 0+250 meter section line
    at an azimuth of 220 degrees true north and an inclination of -45
    degrees and tested deep extensions of the Portage Zone in this area.
    Although this hole failed to test the full width of the Portage Zone, it
    encountered 115.6 meters at 1.11 grams per tonne gold (379 feet at 0.032
    oz per ton gold) before ending in mineralization at 569.6 meters. This
    represents a true depth of approximately 400 meters below surface, is
    one of the deepest intercepts yet drilled in the Portage Zone, and
    extends approximately 80 m below the NI 43-101 compliant resource model.
--  Two vertical diamond drill holes, SP12-115 and SP12-116, and hole SP12-
    121, drilled at an azimuth of 220 degrees true north and an inclination
    of -45 degrees, all fall on the 0+850 meter section line and test deeper
    extensions of mineralization in this area. All three holes encountered
    multiple mineralized intervals (please refer to table) typical of this
    transitional area between the Portage and Main zones. Of particular
    note, the deepest intercept in hole SP12-116 falls approximately 120
    meters beneath the NI 43-101 resource model. 
--  Diamond drill hole SP12-120 was drilled on the 0-250 meter section line
    at an azimuth of 220 degrees true north and an inclination of -45
    degrees and tested the strike extension of the Portage Zone. Although
    this hole was terminated early due to deteriorating ice conditions, it
    intersected a very long interval of gold mineralization, 202 meters at
    0.51 grams per tonne gold (663 feet at 0.015 oz per ton gold) before
    ending in mineralization. It is believed that this hole cuts across the
    lower grade upper margin of the Portage Zone and that the higher grade
    core of the system plunges beneath this intercept. Two vertical holes
    drilled from barges will further test this area once the ice has cleared
    from the lake.

"We are pleased to see many of these recent drill holes demonstrate good continuity of mineralization beneath the current NI 43-101 compliant resource," comments Dr. Quinton Hennigh, technical advisor to, and director of, Gold Canyon. "We are also intrigued by the new high-grade zone discovered between the Portage and East Extension zones. Hole SP12-120 provides our first strong evidence for the extension of the Portage Zone to the southeast. We have aggressive plans to follow up on all of these results once our barge-based drill campaign begins in a couple weeks."

Summary of Drill Results from Holes SP12-113 through                        
 SP12-121                                                                   
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                                                    Gold                    
                                                  (grams                Gold
                      From        To    Length       per    Length   (oz per
Hole              (meters)  (meters)  (meters)    tonne)    (feet)      ton)
----------------------------------------------------------------------------
SP12-113             232.0     237.0       5.0      1.07        16     0.031
                     242.0     267.0      25.0      0.44        82     0.013
                     275.0     278.0       3.0      0.63        10     0.018
                     285.5     290.0       4.5      0.40        15     0.012
                     332.0     413.0      81.0      0.72       266     0.021
                     450.0     474.0      24.0      1.30        79     0.038
SP12-114              27.0      34.0       7.0      0.73        23     0.021
                      71.0      75.0       4.0      1.46        13     0.043
                     223.0     227.0       4.0      3.07        13     0.090
                     383.0     394.0      11.0      0.43        36     0.013
                     454.0     569.6     115.6      1.11       379     0.032
Hole ends at 569.6 meters in badly broken, mineralized rock                 
SP12-115             230.0     265.0      35.0      0.64       115     0.019
                     331.0     335.0       4.0      1.18        13     0.034
                     349.0     354.0       5.0      1.42        16     0.041
                     377.0     380.6       3.6      2.55        12     0.074
                     508.0     512.0       4.0      0.86        13     0.025
SP12-116             108.0     112.0       4.0      0.74        13     0.022
                     124.0     202.0      78.0      1.11       256     0.032
                     214.0     218.0       4.0      2.08        13     0.061
                     233.0     241.0       8.0      3.25        26     0.095
includes             238.0     239.0       1.0     15.61         3     0.456
                     255.0     315.0      60.0      0.62       197     0.018
                     342.0     364.0      22.0      0.67        72     0.020
SP12-117        Hole lost at 75.2 meters                                    
SP12-117A            177.1     181.0       3.9      0.63        13     0.018
                     210.0     214.0       4.0      0.61        13     0.018
                     221.0     231.5      10.5      0.66        34     0.019
                     239.0     248.0       9.0      0.59        30     0.017
                     279.3     395.0     115.7      0.77       379     0.022
SP12-118              78.0     124.0      46.0      0.66       151     0.019
                     160.5     348.8     188.3      1.93       618     0.056
includes             276.0     347.0      71.0      3.80       233     0.111
includes             276.0     279.0       3.0     18.17        10     0.531
includes             295.0     297.0       2.0     14.74         7     0.430
includes             326.0     329.0       3.0     12.00        10     0.350
SP12-119        Hole lost at 21.0 meters                                    
SP12-119A             66.0      79.5      13.5      0.41        44     0.012
                      87.0      97.5      10.5      0.42        34     0.012
                     117.0     126.0       9.0      0.58        30     0.017
                     160.0     165.0       5.0      1.77        16     0.052
                     240.0     247.0       7.0     18.02        23     0.526
includes             240.0     243.0       3.0     41.37        10     1.208
                     256.0     261.0       5.0      3.01        16     0.088
includes             257.0     258.0       1.0     13.03         3     0.380
                     303.0     306.0       3.0      1.38        10     0.040
SP12-120              16.0      26.0      10.0      0.60        33     0.018
                     125.0     327.0     202.0      0.51       663     0.015
Hole ends at 327.0 meters in mineralized rock                               
SP12-121             244.0     263.5      19.5      1.54        64     0.045
                     397.0     410.0      13.0      0.50        43     0.015
                     442.0     450.0       8.0      0.66        26     0.019
----------------------------------------------------------------------------
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 
10 meters.                                                                  
Intervals of no recovery were given a gold grade of 0 in the weighted       
average calculations above.                                                 
1 troy oz = 31.103 grams                                                    
Conversion factor - grams per tonne to troy oz per short ton; g/t divided by
34.2857 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.

Update on 2012 Diamond Drill Program

Four core rigs are currently operating on land at Springpole. Drilling from four barges is expected to begin within two weeks once the ice melts from the lake. To date, approximately 14,000 meters of drilling have been completed at Springpole in 2012. The Company plans to aggressively target areas for growth with the aim of revising the Springpole resource in early 2013.

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 15 percent of the greater alkaline intrusive complex which remains yet to be explored.

On February 27, 2012, Gold Canyon announced an updated NI 43-101 compliant resource estimate for Springpole, effective February 27, 2012, which included an indicated mineral resource of 1.22 million ounces gold and 4.82 million ounces silver and an inferred mineral resource of 2.45 million ounces gold and 11.58 million ounces silver (cut-off grade of 0.4 grams per tonne gold). Tonnage and grades were reported as 30.0 million metric tonnes at 1.26 grams per tonne gold and 5.0 grams per tonne silver for the indicated category, and 60.0 million metric tonnes at 1.27 grams per tonne gold and 6.0 grams per tonne silver for the inferred category. A technical report detailing this resource was filed by the Company on April 10, 2012 and is available through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Quinton Hennigh, Ph.D., P.Geo. is the Qualified Persons pursuant to National Instrument 43-101 responsible for, and has reviewed and approved, the technical information contained in this news release. Dr. Hennigh is acting as a technical adviser to, and a director of, Gold Canyon.

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 REE 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