Shareholders REJECT NovaGold's Hostile Takeover Bid

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FSC / Press Release


Copper Canyon Board of Directors Reaffirms Recommendation that Shareholders REJECT NovaGold's Hostile Takeover Bid


Cranbrook, British Columbia CANADA, February 22, 2011 /FSC/ - Copper Canyon Resources Ltd. (CPY - TSX Venture), The Board of Directors of Copper Canyon Resources Ltd. ("Copper Canyon", or the "Company") (TSX-V:CPY) reaffirms its unanimous recommendation that Copper Canyon shareholders REJECT the hostile takeover bid launched by NovaGold Resources Inc. ("NovaGold") on January 18, 2011 (the "NovaGold Offer") and set to expire at 5:00 pm, Eastern Time, on February 23, 2011, and NOT TENDER their shares to the NovaGold Offer. The Board's recommendation is contained in a directors' circular (the "Directors' Circular") filed and mailed to Copper Canyon shareholders on February 2, 2011, pursuant to applicable securities laws. The Directors' Circular has been filed on the SEDAR website at.


How to WITHDRAW Copper Canyon Shares from the NovaGold Offer


Copper Canyon shareholders who have deposited Copper Canyon shares under the NovaGold Offer are urged to withdraw those Copper Canyon shares. Please see the Directors' Circular for instructions with respect to withdrawing your Copper Canyon shares or, for additional information or assistance, please contact Mike Labach at 1 866 HUNT-ORE (486-8673).


The Board continues to pursue strategic alternatives to maximize shareholder value. In order to give the Board time to consider strategic alternatives, the Board has decided to defer the "Separation Time" pursuant to the Company's Shareholder Rights Plan until 5:00 p.m. on March 4, 2011.


About Copper Canyon


Copper Canyon Resources was created by way of a Plan of Arrangement on June 9, 2006. Shareholders of Eagle Plains Resources Ltd. (TSX-V:EPL) approved the plan to reorganize the company's mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, three of Eagle Plain's projects: Copper Canyon, Severance and Abo (Harrison) Gold, were transferred into Copper Canyon.


On behalf of the Board of Directors


Signed


"Tim J. Termuende"

President and CEO


For further information, please contact Mike Labach at

1 866 HUNT ORE (486 8673)

Email: mgl@copcanyon.com

or visit our website at http://www.copcanyon.com