Canyon Copper Drilling Underway at Bootleg Lake
TSXV: CNC
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Canyon Copper Drilling Underway at Bootleg Lake
Drilling now underway on Bootleg Lake project
First Drill Hole complete with logging and sampling underway
Planned 4 to 6 drill hole program totaling 1,500 to 2,000 metres
Vancouver, British Columbia, February 26, 2018 - Canyon Copper Corp. ("Canyon")
(TSX-V: CNC) is pleased to announce that the Company commenced the planned
diamond drilling program on Canyon’s Bootleg Lake project on February 19, 2018. The
Bootleg Lake project is located near Creighton, Saskatchewan, Canada, five kilometres
southwest of the city of Flin Flon, Manitoba.
On February 9, 2018 , Canyon was granted a Surface Exploration Permit by the
Saskatchewan Ministry of the Environment , which approved the Company’s plan to drill
the Rio and Newcor target areas. On February 15, the drill was mobilized to the site.
After clearing the access road and site preparation, drilling began on February 19 . The
first drill hole was completed on February 25 ending at 337 metres. Core logging and
sampling is underway.
The drilling program of 1,500 to 2,000 metres of NQ diamond drilling is being carried out
by Minotaur Drilling of Warman, Saskatchewan. Minotaur Drilling has experience on the
Bootleg Lake property , drilling for New Moon Minerals in 20 13. Drill logging and
sampling is being supervised by Anthony Spooner P.Geo. of Flin Flon, Manitoba.
The drilling is planned to target two high priority targets on the Bootleg Lake project, the
past producing Newcor and Rio gold mines. The exploration pla n is to test historical
data, expand the zones of known mineralization and obtain precise geological
information.
Stephen Wallace, President and CEO of Canyon stated, “Canyon Copper is
enthusiastic to begin the drill testing of the past producing Rio and Newcor Gold Mines,
where historical estimates by Vista Mines indicated high grade gold.”
The historic estimates by Vista Mines are shown below.
Historical Estimates of Bootleg Lake deposits
Deposit Category Tons Tonnes Oz/ton Grams/tonne
reported calculated reported calculated
Bootleg (Rio) Reserves 183,871 166,800 0.35 12.0
Henning Maloney Proven 15,000 13,600 0.45 15.4
Possible 43,000 39,000 0.16 to 0.32 5.5 to 11.0
Newcor Proven 42,500 38,600 0.31 10.6
Probable 156,000 141,500 0.31 10.6
1) All historical estimates above were prepared by Vista Mines Inc, in 1983 through 1987.
2) Note the historical estimate used the terms historical reserves, historical proven and possible reserves and historical prov en and probable reserves were prepared before the introduction of National
Instrument 43-101-Standards of Disclosure for Mineral Projects These historical estimates are considered relevant as the Company uses historic al reports to evaluate historic mines as a guide to plan
future exploration programs. The assumption, parameters and methods used to calculate these historical resource estimates ar e not known to the Company. The qualified person has not made any
attempt to re-classify the estimates according to current NI 43-101 standards and CIM definitions. In order for these resources to be current, the Company will be required to conduct addit ional drilling on
the Bootleg Property. The Company is not treating this estimate as current mineral resources or mineral reserves as defined in NI 43-101. Although the historical resource estimate was designated as
“reserves”, it cannot be compared to current mineral reserves as it is not supported by at least a current pre -feasibility study.
3) Data source - ASSESSMENT REPORT ON THE 2014 DIAMOND DRILLING PROGRAM, CREIGHTON PROPERTY DOUGLAS, BOOTLEG, PHANTOM AND WEKACH LAKE AREAS LARO NGE MINING
DISTRICT CREIGHTON, SASKATCHEWAN, by NEW MOON MINERALS CORPORATION by Anthony Spooner, P. Geo., Flin Flon, MB, August 31 , 2016.
At the former R io mine area, the Company plans up to 4 drill holes targeting the
potential at depth extension of the known working. The previous underground work at
the Rio mine in the 1980’s reached a maximum depth of 120 metres. Canyon’s drill plan
is to intersect the Rio fault and zone of mineralization at a depth of between 200 and
250 metres below surface.
Canyon plans the same targeting at the former Newcor mine area. Past underground
work at Newcor in the 1930’s and 1940’s extended to a depth of 130 metres and the
present plan is to intersect the zone of mineralization at between 225 and 275 metres
below surface. In addition, the drilling at Newcor will also target the strong airborne
magnetic anomaly that parallels the fault zone that ru ns under the length of Douglas
Lake to the west of Newcor. This magnetic anomaly was highlighted in detail by the
UAV AirMag survey completed by Canyon in late 2017. Details of this survey are
presented in the January 29, 2018 press release.
(https://www.canyoncc.com/news/2018/canyon-copper-completes-uav-airborne-
magnetic-survey-at-bootleg-lake-project/).
Location Map Showing Planned Exploration Drill Target Areas
Stephen Wallace, P.Geo., is the Company's designated Qualified Person within the meaning of
National Instrument 43-101 and has reviewed and approved the technical information contained
in this news release.
On behalf of the Board of Directors,
“Stephen Wallace”
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
Contact: Canyon Copper Corp.
Investor Relations
(604) 331-9326
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward -looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and section 21E of the Securities Exc hange Act of 1934, as amended. These forward -
looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and simi lar
expressions identifying forward -looking statements. Investors should not rely on f orward-looking statements because they are
subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Cany on's
expectations, and expressly does not undertake any duty to update forward -looking statements. These factors include, but are not
limited to the following, Canyon's ability to implement its proposed drill programs on the Bootleg Project, Canyon’s ability to obtain
additional financing, uncertainty of estimates of mineralized material 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 express ed
or implied by such forward-looking statements.
Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated and Inferred Resources
This News Release may use the terms “measured”, “indicated” and “inferred” “resources.” We advise U.S. investors that while
these terms are recognized and required by Canadian regulati ons, the SEC does not recognize them. “Inferred resources” have a
great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cann ot be
assumed that all or any part of an “inferred mineral resou rce” will ever be upgraded to a higher category. Under Canadian rules,
estates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in ra re cases.
The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in -place tonnage and grade,
without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of a measured, indicated
or inferred resource exists or is economically or legally mineable.
NEITHER 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 RELEASE.