Gold Canyon Resources reports Nevada and Ontario drilling.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 21, 1994-- Gold Canyon Resources Ltd., owner of a 10% equity interest in Bradner Resources Ltd., reports that a further eight drill holes have been completed at Bradner's highly prospective joint venture project in Nevada's Battle Mountain Gold Trend.

Eight drill holes were completed (each about 300 feet deep) surrounding the encouraging ore grade drill hole (CB 94-2) completed last month on a previously undrilled portion of the Company's Bru Lovie joint venture project in Crescent Valley, Nevada.

Hole CB 94-2 intercepted 30 feet of 0.069 oz./ton gold within 60 to 95 feet from surface. This is relatively high grade gold mineralization compared to the lower grades that are profitably produced by heap leaching open-pit mineralization (where sufficient quantities have been discovered) in some of Nevada's Battle Mountain and Carlin Trend gold mining operations.

A total of 30 reverse circulation holes (18 on Bru Lovie and 12 widely spaced holes on the Mud Springs joint venture property including the Santa Fe lease ground) have been drilled so far in this Phase III program. Of the twelve Phase III assays received to date by the Company, CB 94-2 appears to have potential economic significance.

Drilling has now been suspended for the holiday season and is scheduled to resume early in January. Assays are expected by that time for the 18 remaining holes, including the eight holes drilled to test the potential economic significance of CB 94-2.

Meanwhile at Gold Canyon's Springpole, Ontario project, planning is underway with Santa Fe Pacific Gold for this winter's drilling program expected to commence February 1995. Most drilling to date has focused on the Portage Zone's 950,000 ounce gold resource consisting of over 27 million tons grading 0.035 opt gold (including zones of high grade which have not yet been fully delineated by drilling) under Springpole Lake.

The February 1995 program will focus on the North Porphyry Zone target on the shore of the lake where Santa Fe conducted geologic evaluation this summer and where higher grade gold mineralization has been encountered in prior surface sampling and drilling.

The Company is a 50/50 joint venture partner with Santa Fe at the Springpole project and has already raised the funds necessary for its half of the forthcoming drill program. The Company's 50% interest in Springpole is subject to the right of Akiko Gold Resources Ltd. to purchase a 20% interest in the project by reimbursing the Company 150% of costs prior to feasibility study.

GOLD CANYON RESOURCES INC.

"Michael Levinson" Michael Levinson Chairman and President

CONTACT: Gold Canyon Resources Ltd.

Michael Levinson, 604/682-3234