======================================================================= Re: News Release - Monday, October 24, 2011 Gold Canyon Intersects 106 Meters at 3.36 Grams Per Tonne Gold at Springpole Gold Project ======================================================================= NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES Gold Canyon Resources Inc.

(GCU: TSX-V) ("Gold Canyon" or "the Company") is pleased to announce that hole SP11-077 has intersected 106 meters at 3.36 grams per tonne gold (348 feet at 0.098 oz per ton gold) including 28 meters at 10.10 grams per tonne gold (92 feet at 0.295 oz per ton gold) at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. This hole confirms that the Portage Zone exhibits a high grade core on the 0+800 meter section. - Diamond drill hole SP11-077 intersected 106 meters at 3.36 grams per tonne gold (348 feet at 0.098 oz per ton gold) including 28 meters at 10.10 grams per tonne gold (92 feet at 0.295 oz per ton gold), one of the longest higher grade intersections yet drilled on the Portage Zone. This vertical infill hole tested the mid section of the Portage Zone on the 0+800 meter section.

In addition to this high grade interval, SP11-077 also intersected 77 meters at 0.73 grams per tonne gold (253 feet at 0.021 oz per ton gold) starting at the bedrock interface below the lake bottom demonstrating continuity of mineralization to surface. - Diamond drill hole SP11-076 was drilled at an azimuth of 220 degrees true north and an inclination of -45 degrees on the 0+650 meter section.

A 121 meter interval at 0.70 grams per tonne gold (397 feet at 0.02 oz per ton gold) was encountered beginning at just 28 meters down hole depth, or a true vertical depth of just 20 meters.

This interval of mineralization effectively connects the Portage and East Extension Zones in the near-surface environment. "Hole SP11-077 gives our first indication that a higher grade core of the Portage Zone is present near the northwest end of the porphyry body," states Dr.

Quinton Hennigh, technical advisor and Director of Gold Canyon.

"We have seen similar mineralization a few hundred meters further southeast, and we are hopeful that as our infill program progresses, we will see continuity of this higher grade core continue. We are also quite pleased that hole SP11-076 demonstrates near-surface mineralization between the Portage and East Extension Zones.

This adds a significant volume of mineralized rock to the overall picture." Table has been removed, News Release has been truncated; please view entire News Release at: http://www.goldcanyon.ca/i/pdf/nr24oc11.pdf View map at: http://www.goldcanyon.ca/i/pdf/nr24oc11_GCU-Springpole_Map_8x11.pdf Core was logged then split using diamond saws with one half sent for analyses and the other half stored for future reference.

Quality control programs include the use of field and laboratory duplicates, standards, blanks, and internal and external check assaying.

Certified sample standards were submitted with the normal sample stream.

Gold and silver assays were completed by SGS Canada Inc.

in Red Lake and Toronto, Ontario using a 30 gram charge, fire assay, with an ICP finish.

For over limit assay results, initial assays in excess of 10.0 grams per tonne Au, a gravimetric finish is utilized. Operational Update Two barge-based and two land-based drills are currently operating on site and will continue through freeze-up, likely in early November. Approximately 12,000 meters of core have been drilled so far this summer, and it is expected that the drills should produce around 14,000 meters of core, in excess of the 12,000 meters that was originally planned.

Holes drilled this summer are expected to allow the Company to revise the 43-101 compliant resource estimate for the deposit sometime late in 2011. About Springpole Springpole is an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit.

The Portage zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that host gold mineralization. Other zones, including the East Extension and Main, consist of high-grade veins and pods hosted in diatreme breccias composed of intrusive and country rock fragments.

These breccias surround the northwest and northern margins of the Portage Zone.

The known mineralized zones underlie a total known area of about 4 square kilometers representing only about 15 percent of the greater alkaline intrusive complex which remains yet to be explored. Quinton Hennigh, Ph.D., P.Geo.

and Alan Roberts, M.Sc., P.Geo.

are the Qualified Persons pursuant to National Instrument 43-101 responsible for, and have reviewed and approved, the technical information contained in this news release.

Dr.

Hennigh is acting as a technical adviser to Gold Canyon and Alan Roberts is the Senior Geologist of Alaska Earth Sciences, Inc.

and Project Manager at Springpole.

About Gold Canyon Resources Inc.: Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties.

The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp.

pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.

Through its wholly owned U.S.

subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A. Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009. Additional information can be found on the Companys website: www.goldcanyon.ca Akiko Levinson, President & Director For further information, please contact: Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 682-0537 Investor Relations: Leo Karabelas, Tel: (416) 543-3120 Email:
This news release contains statements that constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 or "forward looking information" within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements").

Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting" and "intend" and statements that an event or result "may", "will", "would", "should", "could", or "might" occur or be achieved and other similar expressions.

Forward-looking statements in this news release include statements regarding the timing and nature of permitting studies, the timing and nature of infrastructure developments and construction, projections of future optimization, production timeline targets, the timing of negotiations with third parties, and the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered.

In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail.

The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on any of Gold Canyons projects. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Gold Canyon and involve a number of risks and uncertainties.

As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Gold Canyon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions.

These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Gold Canyon and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner.

Although Gold Canyon has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and Gold Canyon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward-looking statements. Neither the 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 news release. View News Release in PDF: http://www.goldcanyon.ca/i/pdf/nr24oc11.pdf 1797 KB in size, approx.

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