Gold Canyon Receives Fedikow Report on Springpole's MMI Program.

VANCOUVER, British Columbia -- Gold Canyon Resources Inc. (TSX VENTURE:GCU)

Update On Winter 2005 Drilling Program And Assay Results At Springpole

Gold Canyon Resources Inc. ("Gold Canyon" or "the Company") is pleased to announce it has received Dr. Mark Fedikow's interpretation and report dated January 31, 2005, of the Company's MMI ("Mobile Metal Ion") geochemical sampling program conducted during the Summer 2004 field season on the Springpole Lake Gold Project located near Red Lake, Ontario. Dr. Fedikow, P. Eng., P. Geo. is a recognized expert in MMI sampling and interpretation of MMI data. The MMI technique, measures Mobile Metal Ions in surface soils. These mobile metal ions are released from ore bodies and travel upward toward the surface. Using sophisticated chemical processes and instrumentation, MMI geochemistry is able to measure these ions, in surface soils, and when applied properly can be a valuable aid in targeting buried ore bodies.

This highly successful program identified multiple, strong, coincident precious metal anomalies indicative of gold mineralization. Dr. Fedikow states, "The results from the GCR (Gold Canyon) survey are compelling in that the survey documents a very large area of multi-sample precious metal enrichment in the overburden. The assemblage of Au-Ag-Pd (gold-silver-palladium) has been identified in previous MMI surveys undertaken in areas of precious metal mineralization."..."The most significant geochemical feature is an Au-Ag-Pd anomaly defined along the northwestern portion of the shoreline of a bay on Springpole Lake and inland along a northwest trend. This anomaly has an approximate width of 4 km in a northeast direction and a minimum length of 2 km in a northwest orientation."..."The trend is defined by response ratios of greater than 50 and as high as 1062RR(Response Ratio). This magnitude of AuRR is considered to be very high and uncommon in the numerous precious metals MMI-assisted exploration programs undertaken in glaciated terrain. As such the responses are interpreted to reflect a significant zone of gold-mineralized bedrock. Reconnaissance mapping and rock chip sampling has confirmed that the area contains several mineralized outcrops with rock chip values to 0.15 opt Au.(ounces per ton gold)."

This large anomaly is situated in the Southwest Target Area, approximately 2.5 miles (4 kilometres) south-southwest from the Springpole Camp, and Portage Mineral Zones. The geochemical anomaly corresponds with a region, which high resolution airborne magnetic and radiometric surveys indicate, is dominated by an abrupt change in the magnetic field strength, and elevated potassium indicative of potassic alteration which is often associated with gold mineralization in the Red Lake District. This area abuts a distinctive nearly east-west trending terminal zone for a series of northwest trending rectilinear features interpreted to be a series of shears and structures in part related to fractures along the axial plane of a large mapped fold structure. The high resolution magnetic, and radiometric survey completed during the Summer 2004 field season indicate a pronounced east-west anomaly more than 2 miles (3.2 kilometres) long and more than one half mile (1 kilometre) wide with magnetic and potassium count signatures similar to that seen in areas of known mineralization at Springpole.

The amplitude of this MMI anomaly increases to the southeast in the direction of this geophysical anomaly, and may suggest a centre of alteration and/or mineralization associated with it. The Company plans to test this target with diamond core drilling during the upcoming 2005 winter drill program. Other MMI anomalies identified during this program and scheduled to be drill tested during this winters drill program, include a possible extension of mineralization from the Camp Zone in a west - southwest direction in an area previously untested by drilling.

In the Dole Lake Deformation Zone, a coincident gold, silver, palladium single point anomaly corresponds with a northwest trending magnetic anomaly and mapped zones of intense shearing, pyritization, and alteration in a deformed contact zone with a porphyry intrusive mass.

Several single sample anomalies were also identified as a part of this survey. These anomalies, are typically found at the terminus of sampling transects, are of significant amplitude, and are recommended for additional follow up work by Dr. Fedikow.

As a part of this MMI program the Company conducted an Orientation Survey over known mineralization in the Camp and East Extension Zones. Dr. Fedikow analyzed the results of the Orientation survey in conjunction with the broader MMI program, and states that "The MMI survey over the Camp and East Extension Zones successfully identified the known mineralized zones. Additional precious metal anomalies occur in otherwise untested areas."

Drilling Update at Springpole Gold Project

The Company is in the process of mobilizing field crews for its Winter 2005. The Company has been advised by the drilling contractor, Major Drilling, that heavy snow and poor ice conditions require drilling be delayed by one to two weeks. The drilling is anticipated to begin by mid February. The drill contractor has completed construction of its winter road to Springpole Camp, and is mobilizing its crew to set up the camp facilities. The Company anticipates having its full staff of geologists and technicians mobilized and in camp by February 10.

Assay Results

The Company is still compiling and analyzing assay results from the Summer 2004 drill program and will release results as they become available. Due to some adjustments to our work program, the Company took longer than originally expected to log and cut core which in turn then created a delay in getting samples to the lab for analysis. Further adding to the delay in getting results has been the exceptionally heavy work loads of labs due to the increased exploration activity throughout North America, which has lengthened turn around time on assays from days to over a month.

Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties and currently owns and operates the Springpole Gold Project in the Red Lake Mining District of Ontario, Canada and its Cordero Gallium Project in Humboldt County, Nevada, U.S.A. Additional information can be found on the Company's website: www.goldcanyon.ca.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Gold Canyon Resources Inc. (TSX VENTURE:GCU)