Canyon Copper Corp. ("Canyon") (TSX-V: CNC) announces that it entered into a termination agreement (the "Termination Agreement") with Sandfield Resources Ltd. ("Sandfield") whereby the parties terminated Sandfield's right to earn up to a 70% interest in the Moonlight Property in accordance with the terms an Earn-In Agreement between Canyon and Sandfield. As a result, the parties are released and discharged of all of their obligations under the Earn-In Agreement.
Canyon is currently reviewing data on the Moonlight Copper Property to determine an appropriate exploration program in due course. Evaluation includes the review of a successful column leach test on copper oxide samples from drill core, that was prepared by SGS (SGS provides metallurgical test services to the mining industry).
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.
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