Canyon Copper Corp. ("Canyon") (TSX-V: CNC) announces that it has entered into a loan agreement with Metamin Enterprises Inc., a company controlled by Benjamin Ainsworth, the President and CEO of Canyon, (the "Lender") whereby the Lender has agreed to loan Canyon CAD $100,000 (the "Loan") for a period of two years at an interest rate of 10% per annum.
As additional consideration of the loan, Canyon has agreed to issue 400,000 common shares ("Bonus Shares") to the Lender on the first anniversary of the loan agreement.
The loan agreement and the Bonus Shares are subject to the acceptance of the TSX Venture Exchange.
The Loan will be used for working capital purposes.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Benjamin Ainsworth, President
Canyon Copper Corp.
(604) 684-9365 (FAX)
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.