Canyon Resources' Uranium Joint Venture to Continue Drilling |
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Canyon Resources Corp.
14142 Denver W. Pkwy.
Golden, CO, 80401
USA
Press release date: May 23, 2007
GOLDEN, Colo., May 23 /-- Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company, is pleased to announce the continuation of uranium exploration drilling at its Converse-Sand Creek Joint Venture. New Horizon Uranium Corporation (TSX-V: NHU), operator of the joint venture, has advised Canyon that drilling will commence on or about June 4, 2007. The Converse-Sand Creek Joint Venture is operated by New Horizon on behalf of its joint venture partners, Canyon Resources Corporation and Energy Metals Corporation. (TSX: EMC; NYSE: EMU).
New Horizon earlier completed 14 drill holes consisting of 10,395 feet of rotary drilling on the Converse-Sand Creek Project, located near Douglas, Wyoming. New Horizon intends to drill an additional 16 rotary drill holes comprising approximately 11,200 feet to complete its earlier program in the "Scott Ranch" target area. The primary purpose of this drilling program is to establish resources leading to defined reserves. The ultimate objective of the Converse-Sand Creek Joint Venture is to determine the feasibility of an In- situ Recovery operation in the prolific White River Formation that extends eastward from Douglas into western Nebraska. Bill Wilson, President and COO of New Horizon, commented that "New Horizon is anxious to finish this round of drilling so that additional drilling can be planned for later this year that will aggressively advance this project." "We are very pleased to see a continuation of this program and are hopeful, based on the positive results of the initial round, for a favorable outcome," states James Hesketh, President and CEO, of Canyon Resources.
About Canyon Resources
Canyon Resources, based in Golden, Colorado, was formed in 1979. The Company has a history of precious metal and uranium exploration success and can claim a number of significant discoveries. Canyon currently owns the Briggs Mine in California and is currently evaluating the re-start of that operation. Canyon is also evaluating the potential development of the Reward Gold Project in Nevada and is a carried partner in two uranium joint ventures. For additional information on Canyon Resources and its projects please visit our website at www.canyonresources.com.
Source: Canyon Resources Corporation
CONTACT: James Hesketh, President and CEO, or Valerie Kimball, Investor Relations, both of Canyon Resources Corporation, +1-303-278-8464
Web site: http://www.canyonresources.com/
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