Canyon Copper Corp. (CNC:CA)

Canyon Copper Corp. (TSXV:CNC,OTCBB:CNYC), is a resource company with two advanced mineral resource properties in Western USA. Canyon Copper has assembled a management team with the experience and real-world expertise to move its projects forward towards production.
PROPERTIES:

New York Canyon PROJECT

The New York Canyon property is la highly advanced, essentially pre-development stage copper (both oxide & sulphide) and molybdenum project that offers the opportunity for a possible "Fast-Track" copper operation. The Property lies within the famous Walker Lane Structural Belt of western Nevada, in Mineral County, near the town of Luning. Canyon Copper holds 100% interest in over 1300 plus mineral claims representing approximately 26,000 acres.

The most advanced of these mineralized zones is the Longshot Ridge oxide copper skarn deposit, located at the east of the property. The prospect has numerous widespread exposures of copper skarn mineralization, in both surface outcrop and abundant old mine workings. The main focus of recent exploration on the prospect has been on the extensive oxide copper skarn mineralization. The copper mineralization and associated alteration at Longshot Ridge are products of an extensive copper-rich skarn system formed in carbonaceous sediments of the Luning, Gabbs and Sunrise Formations. Small amounts of copper occur also in stockwork veinlets in felsic porphyry intrusive sills and dikes. The copper mineralization consists almost entirely of secondary copper minerals, principally malachite, azurite, chrysocolla and copper wad, in order of abundance. The Longshot Ridge encompasses about 90 percent of the mineralization within the two upper units of the Gabbs Formation. Drilling reveals that the strongest, thickest and most continuous mineralization occurs in a NE-trending zone, 200 feet wide by 1300 feet long, which is crossed by two NW-trending structurally-controlled high grade zones, each about 100 feet wide and from 400 to 700 feet long.

The second of these mineralized zones, the Copper Queen, consists of a copper sulphide skarn and porphyry copper-molybdenum sulphide. The deposit is located approximately three km west of Longshot Ridge. The Copper Queen deposit has had significant historical drilling by previous operators.

The third and final mineralized zone is called the Champion prospect. The prospect is located midway between the Longshot Ridge and the Copper Queen prospect. It consists of both oxide and sulphide copper skarns and has numerous widespread exposures of copper skarn mineralization, both in surface outcrop and in old mine workings.

For the Longshot Ridge target, the Company has obtained an indicated mineral resource estimate, at a cut-off grade of 0.2% copper, of 16,250,000 tons at an average grade of 0.43% Cu, and an inferred mineral resource estimate, at cut-off grade of 0.2% copper, of 2,900,000 tons at an average grade of 0.31% Cu (see National Instrument 43-101 ("NI 43-101") Technical Report filed on SEDAR on May 6, 2010 and news release dated May 3, 2010).

To date, Canyon Copper has completed 71 drill holes totaling 8,414 m on the Longshot Ridge oxide copper skarn deposit. As a result of Canyon Copper's drilling program of 38 drill holes in 2004 and 2005 and historical drilling by previous operators, Canyon Copper confirmed an NI 43-101 indicated resource of 16,250,000 tons at an average grade of 0.43% Cu and an inferred resource estimate of 2,900,000 tons at an average grade of 0.31% of Cu at Longshot Ridge. This mineral resource estimate does not include 33 drill holes (7 HQ diamond drill holes and 26 reverse circular drill holes) completed by the Company in 2006. Canyon is currently considering production options.
MOONLIGHT COPPER PORPHYRY PROJECT

In November 2011, Canyon Copper entered into an assignment agreement with Metamin Enterprises Inc. to acquire the former Placer Dome Moonlight Project. This property, now the Canyon Copper Moonlight Copper Porphyry Project is a bulk tonnage porphyry copper, gold, silver property. It is located on the Northern end of the Walker Lane Porphyry Trend, south of Hawthorne, Nevada.

The 2007 Technical Report notes that Placer recognized significant amounts of copper were lost during their drilling and because of this the copper grades estimated from the drilling - which are the grades used in the NI 43-101 resource estimation - are conservative and apparently understated. The Moonlight Copper deposit, which remains open at depth and along strike, is potentially larger than currently known and may also be potentially richer than indicated by the historical drilling.

The Moonlight Copper sulfide deposit, which contains the previously mentioned mineral resources, remains open laterally and to depth. Mineralization extends from the surface to a vertical depth of at least 600 m, which is the length of the deepest hole yet drilled on the target. This hole was mineralized throughout its length (averaging 0.185% Cu) and bottomed in 0.3% Cu. The limits of the deposit are unknown. Additionally, the historical work by Placer, and reconfirmed by Sheffield, indicates that the area also contains substantial near surface oxide copper mineralization, comprising a shallow copper target possibly amenable to low-cost SX-EW extraction. This oxide mineralization was not included in the resource reported in the 2007 Technical Report.
Canyon Copper will focus on the oxide deposits during the start of the exploration and development of both the New York Canyon and Moonlight oxide copper properties. Unlike sulphide bodies, both copper oxide projects could be brought into production quickly due to the economics of lower capital and operating expenses for a copper leach operation which is indicates a significantly lower financing cost than that of a much larger sulphide recovery plant. Also, Canyon Copper believes that the premium cathode copper from the oxide processing plant could fetch a price premium. This would be a significant improvement over the payment for residual copper from concentrates sent to a foreign smelter which will charge against the world price, currency changes, freight, treatment and refining charges on each ton of concentrate that has only 29% contained copper.
Management

Anthony Harvey - Chairman and CEO

Mr. Harvey has been consulting to companies in the resource industry for over 40 years and has worked on numerous projects with capital costs exceeding $400 million. He has first hand experience with a wide range of technical, commercial, corporate and associated public company activities with considerable interface around the world with government agencies, financial institutions and the media.

From 1959 to 1989 he worked for Wright Engineers Ltd.- Fluor Daniels in various management positions including, Senior Project Manager responsible for the design, construction and start-up of 14 mines world-wide on behalf of

major mining corporations.

From 1988 until October 2000, he was a Founder, Director and Senior Executive of Azco Mining Inc., a resource company trading on the Toronto and American stock exchanges. Azco's principal mineral property was the Sanchez porphyry copper project located near Safford, Arizona. This project was developed through to the bankable feasibility stage and subsequently sold to Phelps Dodge Corporation for US $40 million. Azco's second project, Piedras Verdes, in Sonora State, Mexico which was joint ventured with Phelps Dodge and was put into production by Frontera Copper Corporation at an initial rate of 70 million lbs. of copper per year.

Mr. Harvey is currently the President and Founder of ARH Management Limited, a management and consulting company to the resource industry. He was also a former Chairman and Director of Oremex Resources Inc., and Lake Shore Gold Corp., a former Director of Cobre Del Mayo, a Mexican copper mining company formed in partnership with Phelps Dodge Corporation, and a Director of Terra Energy Corp.

Ben Ainsworth - President and Director

Mr.Ainsworth earned an honours degree in geology from Oxford in 1962. In 1965, he joined Placer Development, Vancouver, after working in base metal exploration in Eire and completing service as a Development Geologist with the Ghana Geological Survey. After over 20 years service with Placer in Canadian and international projects, he formed a mineral exploration consultancy in 1987 and continues in that business.

Professional Highlights:

• 1972: Discovery and early development for Placer Development of Howards Pass now being developed by Selwyn Resources as the largest zinc and the largest lead deposits in the world.

• 1991-94: Development of Huckleberry Mine (now a porphyry copper producer) for New Canamin, production started by Princeton Mining in 1997 and still mining.

• 1995: Discovery of the first reported marine alluvial diamonds off Sierra Leone.

• 1994-96: Property selection for Cascadia Metals and Chemicals Corporation of their Mongolian Sharingol (gold), who developed and sold a large gold resource to Cameco-Centerra.

• 2005: Joined Board of Hathor Exploration, acting as V.P. Exploration during the development of the Roughrider uranium deposit -- a Rio Tinto take-over success.

James Yates - Director

Mr. Yates has over twenty five years experience in the mineral exploration industry and has served as a director and officer of several public mining companies. From 1982 to 1988 he was the Founder, President and Director of Hycroft Resources who successfully brought the Crofoot Mine into production. Mr. Yates has overseen the corporate management and financing of a number of projects in North America including American Bullion Minerals, Zappa Resources, and Jersey Goldfields, having raised in excess of $20 million for mineral exploration development. Mr. Yates is currently a director of ESO Uranium Corp. (TSX-V: ESO), a mineral exploration company focused on uranium exploration, and Nevada Geothermal Power Inc. (TSX-V: NGP), a company engaged in producing geothermal electrical power from geothermal resources in the United States.

Bryan Wilson - Director

Mr. Wilson has enjoyed a varied career in the fields of mining exploration and development for 18 years and financial services for 12 years. He has filled various roles such as Project Geologist/Manager for Shell Canada, Consultant, Financial Advisor for Scotia McLeod, Mining Analyst for C.M. Oliver and Corporate Finance Specialist for Dominick & Dominick and Thames Capital.

Within the mining industry, Mr. Wilson has acquired broad international exposure to a variety of mineral commodities and has worked throughout the world. In 1981, Shell's East Kemptville Tin Mine with was discovered and developed under his supervision (50.0 million tonnes @ 0.23% Tin).

Kurt Bordian - Chief Financial Officer

Mr. Bordian is a designated Certified General Accountant in Canada, and holds a Bachelor of Commerce (Honors) Degree from the University of Manitoba. He has worked primarily in the mineral exploration and oil and gas industries over the past 10 years, and has held the position of Controller with three public companies exploring and operating in the Solomon Islands, Ghana, Tunisia and Western Canada. Mr. Bordian is also active with other public entities as Operations Manager and Corporate Secretary.
Advisory Board:
David M. Jenkins - P.Geo



A senior Geologist and mining consultant. David brings over 40 years of technical and managerial experience in the mining industry; serving with Placer Development Limited for 18 years and various junior/senior mining company clients for over 20 years. He worked extensively in Central America as General manger of Placer Development's regional mineral exploration subsidiary and later as Vice-President for Triton Mining Corporation that operated gold mines in Nicaragua and North America. He has managed programs exploring porphyry copper, epithermal gold, lead/zinc/ silver, gold/silver and magnesite projects that materially contributed to the development of six mines in five different countries.



Mr. Jenkins led Sheffield Resources Ltd into a new evaluation of the Moonlight copper oxide and sulphide deposits in 2005-2007, which work was the basis for the first NI 43-101 report that qualified the sulphide resource and described the oxide deposit and its potential. This report is part of the extensive data base upon which Canyon proposes to build its evaluation and economic assessment of the Moonlight project.



John Kerr, P.Eng. Geologist



Mr. Kerr graduated from the University of British Columbia in 1964 with a Bachelor of Applied Science (B.A.Sc) degree in Geological Engineering. He has participated in the mining industry continuously since graduation as an exploration geologist. His expertise is epithermal and sedex-hosted precious metal deposits in the southwest United States, strata controlled gold deposits and porphyry copper/gold/molybdenum deposits of the western Cordillera and VMS deposits in all areas of North America. Successful ventures include recognition and discovery of the Santa Fe gold mine, identification of the Calvada gold mine located on the northern boundary of the New Canyon property, and discovery of the Mindora gold/silver deposit, all located in Nevada. He is also credited with early identification of two VMS deposits at the Rambler Mine in Newfoundland and recognition of the Frasergold strata controlled gold deposit in British Columbia. Mr. Kerr has served as a director of numerous public companies and is currently a Director of Quaterra Resources (NYSE Amex: QMM, TSX.V: QTA) and Bravada Gold Corp (TSX-V:BVA).



During the early exploration of the Santa Fe and Calvada deposits (1973-1979), Mr Kerr familiarized himself with exploration endeavours on the Longshot Ridge copper skarn and the Copper Queen porphyry copper deposits on the New York Canyon property. His knowledge of these deposits will provide invaluable input to ongoing development.