Canyon Gold Corp. Continues Consolidation of its Operations
Las Vegas, Nevada--(Newsfile Corp. - October 17, 2013) - Canyon Gold Corp. (OTCQB: CGCC) (The company) a gold exploration company with substantial claims in a region of Nevada experiencing vast new gold discoveries, completes its relocation and consolidation to the US and establishes its operational management office in Salt Lake City, Utah.
Continuing its focus to streamline internal operations to optimize value of its substantial Nevada mineral holdings, following the completed transfer of the executive office to Las Vegas, Nevada, the company is now relocating its operational headquarters to Salt Lake City for proximity and easy reach of its claims in the Spruce Ridge - Long Canyon Trend across the state line in Nevada. The repositioning will contribute to enhanced operational efficiencies and accelerated exploration and development of its claims.
As part of the planned relocation and operational consolidation to the US, and to eliminate unnecessary costs and duplicated work as presently required under the jurisdiction of the Province of British Columbia, Mr. Delbert Blewett, resigned from the position of President and Chief Executive Officers as presently held on the company's Board of Directors. Mr. Blewett remains in the position of the Acting Secretary as a Director and Officer until a new Secretary is appointed. We thank Mr. Blewett for the years of valued service as President and Chief Executive Officer, establishing and guiding the company in its path to success.
We are pleased to announce the appointment of Stephen M. Studdert to the position of President and Chief Executive Officer of the company. Mr. Studdert joined the Board of Directors on December 14, 2012 where he serves as the chairmen of the board's strategy committee. Mr. Studdert has extensive relationships and experience at senior levels of the US Government and in the finance and mining sectors. The company believes his proximity to its Nevada operations will further strengthen internal operations and growth and future earnings.
As the company transitions into its next phase of optimizing its Nevada claims, it will continue to appropriately expand its Board of Directors and management team as well as its Advisory Boards.
The Company re-appoints and continues its longstanding relationship with its Corporate Legal Counsel, Leonard E. Neilson of Sandy, Utah, and its Auditors HJ & Associates of Salt Lake City, Utah.
The Company's Business:
CanyonGold owns and or controls through certain options a 100% interest in 310 mineral lease claims in the Spruce Ridge area of Nevada. It is the company's intention to explore their claims for the same type of target, a large tonnage gold deposit similar to the West Pequop Mountains Long Canyon type of Carlin Type gold deposit. CanyonGold will use similar exploration techniques modified to fit the characteristics of the Spruce Hills property which have fracturing and alteration similar to that of Long Canyon.
Visit us at: www.canyongoldexploration.com
On behalf of the Board of Directors, Stephen M. Studdert, President & CEO,
Company Contact: Phone: 1 888 788-0986
Email: email@example.com. SOURCE: Canyon Gold Corp.
The Company trades on the OTC-BB/QB tier of the OTC market. Investors can find Real-time quotes and market Information for the Company on http://www.otcmarkets.com/stock/CGCC/quote
This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives or expected results of the Company, are forward-looking statements that involve various risks and uncertainties. Forward looking statements in this news release include that we will carry out an exploration program and exercise our option to lease additional claims. There can be no assurance that such statements will prove to be accurate and actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not be able to get equipment or labor as we need it; we with may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's most recent reports filed with the Securities and Exchange Commission.