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Canyon Resources Corporation


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Title: Canyon Resources Corporation

Canyon Resources Corporation
Corporate Presentation March 2007
Forward-Looking Statement
  • This presentation 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,
    mineralized material estimates, reserve
    estimates, potential residual production levels,
    future expenditures, cash requirement
    predictions, the ability to finance continuing
    operations and the potential reopening 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 the speculative
    nature of mineral exploration uncertainty of
    estimates of mineralized material and gold
    deposits compliance with environmental and
    government regulations the potential
    un-availability of financing on acceptable terms
    or the inability to obtain additional financing
    through capital markets, joint ventures, or other
    arrangements in the future difficulty in
    extrapolating drill hole results to establish
    mineralization the outcome of the McDonald and
    Kendall Mine litigation as well as other possible
    judicial proceedings economic and market
    conditions unanticipated grade, geological,
    metallurgical, processing or other problems
    operational risks of mining, development and
    exploration 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.  Many of these factors are
    beyond the Company's ability to control or
    predict. The Company disclaims any intent or
    obligation to update its forward-looking
    statements, whether as a result of receiving new
    information, the occurrence of future events, or

Canyon Resources Corporation
  • U.S. Company with U.S. Project Focus Since 1979
  • Two Near-Term Gold Production Projects
  • Strong Pipeline of Exploration/Development
  • Two Uranium Exploration Joint Ventures
  • Highly Experienced Management and Board

U.S. Property Focus
Goals and Strategy
  • Build Shareholder Value Through Project
    Development and Cash Flow Generation
  • Goal to become a mid-tier mining company
  • Building Blocks in Place
  • Briggs Mine re-start
  • Reward Project development
  • Nevada property portfolio focus
  • Montana properties
  • Uranium joint ventures
  • Acquisitions and Joint Ventures
  • Focus on production opportunities

Canyon Properties
Briggs Area Map
Briggs Mine - Inyo County, CARight Time for
  • Low Cost Re-Start Opportunity
  • Permitted site
  • Existing infrastructure and facilities
  • 738,505 ounces gold mined since 1996
  • Briggs Development Strategy
  • Initiate production with open pit and
  • Goldtooth underground
  • Incrementally add production to extend mine life
  • Goldtooth extensions
  • Briggs North
  • Satellite deposits

Briggs Mine Existing Infrastructure
Permitted Briggs Mine Site
Gold Recovery Plant
Cat 100 ton Trucks
Crushing Plant
Goldtooth Underground Long Section
Structure Open for Expansion 70 foot polygons
Existing Surface
20_at_ 0.205
3,200 feet
0.01 to 0.10 oz/ton Au
0.10 to 1.0 oz/ton Au
Briggs Mine Reserve Mineralization
Proven and Probable Reserve
Mineralized Material (includes Reserve)
Briggs Feasibility Study
  • Initial three year mine life
  • 115,000 gold ounces recovered
  • 430 per ounce production cost
  • Five month development period
  • 12.8 million CAPEX
  • 15 IRR with 600 gold
  • 2.8 million change in cash flow for every 25
    change in gold price

Goldtooth Underground Design
Briggs Proposed Development Schedule
Financing Commence Open Pit Restart Commence UG
Development Gold Production
Nevada Growth Strategy
  • Why Nevada?
  • Nevada is Highly Prospective for Gold
  • Third Largest Gold Producer in the World Behind
    South Africa and Australia
  • 87 of the Total U.S. Gold Production
  • Stable Mining Laws Regulatory Environment
  • Gold Mining Provides Significant Employment and
    Economic Contribution to the State of Nevada
  • Mining is Important to Nevada

Canyon Well Positioned on Major Nevada Gold
  • Reward - Near term production, feasibility study
    underway, awaiting permit approval
  • Adelaide - Advanced stage exploration, located at
    the projected intersection of the Getchell and
    Battle Mountain gold trends. Focus of exploration
    by major gold companies for 30 years. 18 holes
    previously drilled by Newmont
  • Tuscarora - Advanced stage exploration. Early
    1900s production of 165,000 ounces gold and 7.1
    mil. ounces silver. More recently explored by
    Newmont and others for higher grade targets
  • Mt. Edna - Grass roots exploration. 36 lode
    claims, grass-roots gold-copper prospect. 6 RC
    holes previously drilled encountered abundant
    copper oxide.
  • Tram - Grass roots exploration. 22 lode claims
    2 RC holes drilled intersected several 10-foot to
    30-foot zones of 0.01 to 0.02 opt Au.

NV Property map here
Reward Property - Nye County, NV
  • Pre-Feasibility Study Completed January 2006
  • Conventional open pit, cyanide heap leach
    103,000 ounces contained
  • Load gold onto carbon at site for gold recovery
    at Briggs
  • U.S. 330/oz avg. cost, U.S.7.6 million CAPEX
  • Feasibility Study Underway
  • 12.7 million tons mineralization _at_ 0.025 oz/ton
    Au (0.01 COG)
  • Mine Plan of Operations submitted for permitting
  • 6,140 feet in 21 holes drilled in 2006
  • Phase II drilling planned to further test size of
    the deposit
  • Leach pad design completed
  • Geotechnical studies underway

Reward Geology
2006 Drill Area
Reward Proposed Development Schedule
Permitting Feasibility Phase II Drilling Project
Seven-Up Pete Deposit - Lincoln, MT
  • 1991 Feasibility Study by Phelps Dodge
  • Vein System Mineralization
  • Open Pit Mineable
  • Non-cyanide Metallurgical Test Work
  • Gravity/flotation
  • Positive initial results developed
  • New bulk samples taken October 2006
  • Private Lands and Leases Unpatented Claims
  • 75,000 oz/Annum Production Shown in Prior Study

Uranium Joint VenturesConverse, WY
  • Area Explored by Canyon Partners from 1979 to
  • Mineralization discovered
  • Roll-front deposits
  • January 2006 Joint Venture with New Horizon
    Uranium Corp
  • June 2006 - 70 30 Sand Creek JV formed
    between Converse JV and High Plains Uranium
  • Phase I Drilling
  • 14 holes totaling 10,395 feet
  • Rollfront type uranium mineralization encountered
    in 13 of 14 holes
  • Phase II to Commence Early 2007
  • 12 additional holes planned

Over 12,000 Acres Claimed or Leased
Corporate Information
52-Week Stock Performance
NEM - Newmont RIC - Richmont Mines MGN -
Mines Management GSS - Golden Star
CAU - Canyon Resources
Management Team
  • James Hesketh President, CEO and Director
  • BS Mining Engineering, MS Mineral Economics, 27
    years banking and production NM Rothschild
    Sons (Denver) Inc. Cyprus Amax Pincock, Allen
    Holt Dresser Industries.
  • James Matlock VP Exploration
  • BS Geology 30 years exploration experience with
    Placer Dome Cyprus Amax and Amoco Minerals.
  • David Suleski VP Chief Financial Officer,
    Treasurer, Corporate Secretary
  • BBA Accounting, CPA 24 years accounting, audit,
    and banking Golden Star Resources NM
    Rothschild Sons (Denver) Inc. Apex Silver
    Cyprus Amax Coopers Lybrand.
  • Stuart L. Green VP Operations
  • BS Mining Engineering 30 years mining
    operations Kinross Gold USA, St. Andrews
    Goldfields and BHP Billiton.

A Golden Future For Canyon
  • Near Term Production at Briggs Reward
  • Strong Nevada Exploration Development
  • Uranium Joint Ventures
  • Montana Properties

Liquid AMEX listing Strong base of
institutional interest and funding U.S. Company,
U.S. Projects, U.S. Focused, since 1979
  • Board of Directors
  • 900,00 Acres Mineral Rights
  • Briggs Mineral System 3D View
  • McDonald Takings Lawsuit Status
  • Top 5 Institutional Owners
  • Outstanding Warrants

Board of Directors
  • James Hesketh President, CEO and Director
  • BS Mining Engineering, MS Mineral Economics, 25
    years banking and production NM Rothschild
    Sons (Denver) Inc. Cyprus Amax Pincock, Allen
    Holt Dresser Industries.
  • Dr. Richard De Voto Chairman, Director
  • PhD Geology Founded Canyon Resources 1979
    Professor emeritus, Colorado School of Mines,
    taught from 1966 to 1987.
  • Leland Erdahl Director
  • since 1986, former President CEO, Albuquerque
    Uranium Resource former VP CFO, Amax Gold
    former Director, Freeport McMoRan.
  • David Fagin Director
  • since 2000, former Chairman CEO, Golden Star
    Resources former President Director, Homestake
  • Ron Parker Director
  • since 2002, former President CEO, Apollo Gold
    former President, Homestake Canada former
    President, Prime Resources Group.

900,000 Acres Mineral Rights
  • Historic Anaconda Mineral Rights Position
  • Directly owned
  • Deposit Types
  • Sedimentary hosted Cu/Ag
  • Epithermal gold
  • Massive sulfide
  • Porphyry Cu
  • Industrial minerals
  • Project Generation Opportunities

Briggs Mineral System 3D View
Block Composite Grades (6.1m x 6.1m x 6.1m
blocks) Blue 0.007 to 0.01 opt Au Green 0.01 to
0.03 opt Au Red 0.03 to 0.05 opt Au Magenta
gt0.05 opt Au
McDonald Takings Lawsuit Status
  • Canyon is seeking compensation for taking of
    10.6 million ounce, McDonald Gold Project by
    State of Montana
  • Briefs filed with U.S. Court of Appeals Ninth
  • Hearing expected in 2007
  • Potential value zero to U.S. 550 million

Top 5 Institutional Owners December 31, 2006
Outstanding Warrant Detail
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