Canyon Begins Core Drilling and Provides Update on Its Reward Project in Nevada



    GOLDEN, Colo., March 23 /CNW/ -- Canyon Resources Corporation (Amex:  
CAU), a Colorado-based mining company, is pleased to announce the start of a
four-hole, 1,600-foot core drilling program at its Reward Gold Project in Nye
County, Nevada.  The drilling program, part of the ongoing feasibility study
at Reward, will consist of four 2.5 inch-diameter holes which will provide
structural and rock mechanic information and material for metallurgical
testing.  The rock mechanic and structural data is required for open-pit high
wall design and to provide ore and waste rock characteristics.  Mineralization
in the remaining core will be used for metallurgical column testing.
    Canyon initiated the permitting process for the Reward Project in
November 2006 when it submitted its plan of operations and reclamation plan to
the Las Vegas office of the Bureau of Land Management ("BLM") and to the
Nevada Bureau of Mining Regulation and Reclamation.  Additionally, a design
report for the Reward mine heap leach facility was completed in early March
and a water pollution control permit application has been prepared for the
Nevada Division of Environmental Protection.  Other relevant permit
applications are currently being prepared.
    A revised estimate of mineralized material (announced on March 2, 2007)
of 12.7 million tons at an average grade of 0.025 ounce per ton (opt) of gold
using a cutoff grade of 0.01 opt has recently been completed for the project.
The mineralized zone remains open to the east along its southern 1,000 foot
border.  Disseminated gold mineralization at Reward is hosted in a north-south
trending, steeply to moderately eastward dipping, quartz stockwork-vein zone
from 15 to 140 feet thick and 2,000 feet long, developed within the immediate
hanging wall of the Reward fault.
    "These programs are important steps in our effort to quickly advance the
Reward Project to a production decision.  Reward is an important project for
us, providing ounces, and additional exploration potential for our planned
growth into a mid-tier gold producer," comments James Hesketh, President and
CEO.
    In January 2006, a pre-feasibility study for the Reward Project was
completed.  The study projects strong economic results based on a $425 gold
price, $7.6 million in new capital expenditures, transfer of miscellaneous
mobile equipment from the Briggs Mine, and contract crushing.  At current
market prices project economics increase substantially.  Cash cost of
operation would average $330 per ounce over a five-year project life.  No
silver byproduct credits were assumed in the analysis, although they may have
a positive impact.
    The Reward fault separates footwall Proterozoic quartzite, siltstone and
dolomite on the west from hanging wall Cambrian limestone and marble on the
east.  Gold mineralization, while hosted in the Cambrian sedimentary rocks, is
probably Tertiary in age and is considered epithermal in nature.  The Reward
Project area is part of the Bullfrog/Bare Mountain mining districts which sit
on the southern end of the Walker Lane Structural Belt, a regionally important
and complex structural zone of Miocene Age hosting numerous epithermal
precious metal districts.  The Walker Lane extends northwest from Las Vegas to
the eastern edge of the Sierra Nevada Mountains South of Carson City.  Reward
is located about five miles south of the town of Beatty NV, in southern Nye
County and about five miles southeast of Barrick's now inactive Bullfrog Mine
which produced over 2,000,000 ounces of gold in the late 1980s and early
1990s.  The Bullfrog/Bare Mountain districts, as a whole, have been very
prolific, producing about 3,000,000 ounces of gold in total from several
modern operations.
    The drilling contractor is Ruen Drilling of Coeur d'Alene, Idaho.  The
engineering contractor responsible for assuring quality control at each drill
site and for the eventual design of the open pit is Golder Associates of Reno,
Nevada.

    
    About Canyon Resources
    
    Canyon Resources, based in Golden, Colorado, was formed in 1979.  The
Company has a history of precious metals 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.  For additional information on Canyon Resources and its properties,
please visit our website at www.canyonresources.com.

    This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934 as amended.  Such forward-looking
statements include, among others, feasibility studies for the Briggs Mine and
Reward Project, mineralized material estimates, drilling capability and the
potential reopening or expansion of the Briggs Mine. Factors that could cause
actual results to differ materially from these forward-looking statements
include, among others: the volatility of gold prices; potential operating
risks of mining, development and expansion; the uncertainty of estimates of
mineralized material and gold deposits; and environmental and governmental
regulations; availability of financing; the outcome of litigation, as well as
judicial proceedings and force majeure events and other risk factors as
described from time to time in the Company's filings with the Securities and
Exchange Commission.  Most of these factors are beyond the Company's ability
to control or predict.

    FOR FURTHER INFORMATION, CONTACT:

    
    James Hesketh, President and CEO (303) 278-8464
    Valerie Kimball, Investor Relations (303) 278-8464

    




For further information:

For further information: 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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CANYON RESOURCES CORPORATION

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