LAS VEGAS, July 11, 2014 (GLOBE NEWSWIRE) -- Canyon Gold Corp. (OTCQB:CGCC) (The Company) is pleased to provide an update on its progress.
Long Canyon Gold Resources Corp. 'LCGRC' (a wholly owned subsidiary).
LCGRC owns and or controls through certain options a 100% interest in 310 mineral lease claims in the Spruce Ridge Area of Nevada and in addition it controls a 100% interest in 180 mineral lease claims in the Pequop Mountains of the Long Canyon Trend Area of Nevada. These sections are adjacent to the original discovery acquire by Newmont Mining for 2.3 Billion Dollars. It is the company's intention to explore its 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.
LCGRC has, in addition, signed a letter agreement and is completing negotiations to acquire a 51% interest in up to 5,000 acres of Oil Leases in the state of Utah and Nevada in areas of present drilling activities.
LCGRC is preparing and planning its phase two development program on its Gold Claims in Elko County Nevada.
Marshall Thomsen Ltd. 'Marshall Thomsen' (a wholly owned subsidiary).
CanyonGold, to provide increased value to its shareholders, acquired Marshall Thomsen to enter the lucrative Cannabis Industry and be part of a promising future world trend.
Marshall Thomsen applied to Health Canada for a license as a commercial grower of cannabis under the new regulations issued by Health Canada. We are pleased to confirm that the subsidiary has acquired the right to a 20 acre property in the Fraser Valley of British Columbia where it plans to build a facility of, initially, 90,000 square feet, allowing for future expansion on the site. The initial facility will be capable of producing up to 6 million grams of cannabis per year.
Marshall Thomson concluded the acquisition-agreement of the target property for its Production Center which property is subject to "The Property Zoning Bylaw No.1257" that includes medical marijuana grow-operations.
Marshall Thomsen is in contact with Health Canada and is making good progress in the steps necessary to secure the license.
"After a long period I believe that we are at a point of reaping the benefits of patience and sound planning and we are looking to a bright future for the Company and its Subsidiaries in the best interest of the Companies and its Shareholders," says President Blewett.
Visit us at: www.canyongoldexploration.com with a link to Marshall Thomsen
On behalf of the Board of Directors, Delbert G. Blewett, B.S.C.A. LL.B., President & CEO
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
Forward-Looking Statements
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.
Company Contact: Subsidiary: Long Canyon Gold Res. Corp. 1 800 520-9485 Stephen Studdert, President Subsidiary: Marshall Thomsen Ltd. 1 604 613-1227 Tom Thomsen, President Email:
