CANYON COPPER Stakes New Claim Blocks in the Samuels Lake Area
TSXV: CNC
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
CANYON COPPER Stakes New Claim Blocks in the Samuels Lake Area
VANCOUVER, BC, April 5, 2017. Canyon Copper Corp. (“Canyon”) (TSX-V: CNC) is pleased
to announce that it has staked and recorded a significant exp ansion of key areas near the
Samuels Lake Area option agreement with ProAm Exploration Corporation (“ProAm”).
Four additional blocks of claims have been staked which will increase the area under control by
6,958 acres (2,817 hectares) in addi tion to the original Samuels Lake property of 1,471 acres
(595.6 hectares) for a total of 8,429 acres (3,413 hectares).
Samuels Lake is located in the Province of On tario, about 56 kms West Southwest of Atikokan,
a significant former iron mining center that is 200 kms West of the port of Thunder Bay.
The additional ground was acquired in order to open up further opportunity to expand on
developing mineral resources similar to those located by two exploration campaigns, by ProAm
(1998-2000) and Teck Cominco Ltd. (2008). The following key reasons lead to the decision
stake this ground.
• Both of the previous Samuels Lake explor ation programs had identified mineralization of
Copper, Nickel, and Cobalt. Minor Plat inum Group element assemblages were
associated with this mineralization;
• The mineralization appears to correlate wit h rocks of high magnetic susceptibility due to
an alteration of ultramafic rocks to a do minant wherlite phase that has a layered
distribution of sulphide mineral ization, in some sections drilled in both exploration
programs;
• Attractive thickness and comb ined grade for future development;
• The Copper-Nickel mineralization is associ ated with Cobalt that ranges in grade from
0.030% to 0.080% which is a possible co-product in higher grade sections;
• The consumption of Cobalt in the production of lithium ion batteries is reported to be in a
range of 30-60% for electrode materials in some ion batteries now in production,
compared to 20-30% lithium electrode material;
• The price of cobalt has rise n to more than $30,000/st ($60.00/lb) while lithium for
electrode materials is between $8,500/st ($4.25/lb) and $12,00 0/st ($6.00/lb) in recent
reports of sales;
• The proximity of the projec t area to Atikokan makes possibl e the development of brown-
fields sites for future plant and tailings facilities which could reduce the time and cost
required for permitting new facilities;
• The high magnetic susceptibilit y associated with the mineraliz ation has helped identified
several UTEM targets with dow n-hole probing during the earli er exploration programs.
These will be reviewed after recovery and assayi ng of drill core from the 1999 drilling,
which has been located and is well identified with tags and the written logs; and
• The economic advantage of having accumula tions of nickel and copper sulfides, with
associated cobalt as a possible by-product has made this a very a ttractive exploration
target for the Company.
Qualified Person
Benjamin Ainsworth, PEng (Briti sh Columbia), licence No. 8648, chief executive officer of
Canyon, is a qualified person as defined by Na tional Instrument 43-101 and has reviewed and
approved the contents of this news release.
On behalf of the Board of Directors,
“Benjamin Ainsworth”
CANYON COPPER CORP.
Benjamin Ainsworth, APEGBC
CEO, President
Contact:
Canyon Copper Corp.
1-888-331-9326
(604) 331-9326
(604) 684-9365 (FAX)
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 Secu rities Exchange Act of 1934, as am ended. These forward-looking s tatements
are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions ident ifying forward-
looking statements. Investors should not rely on forward-looking statements because t hey are subject to a variety of risks, unc ertainties and
other factors that could cause actual results to differ materi ally from Canyon's expectati ons, and expressly does not undertake any duty to
update forward-looking statements. These factors include, but ar e not limited to the following, Canyon's ability to implement i ts proposed drill
programs on the Moonlight Property and the New York Canyon Proj ect, 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 expressed 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 regulations , the SEC does not recognize them. “Inferred resources” have a great amount of uncertainty
as to their existence, and great uncertaint y as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred
mineral resource” 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 prefeasibilit y studies, except in rare cases. The SEC normally only permits issuers to report mineralization that
does not constitute “reserves” as in-place tonna ge 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.
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ADEQUACY OR ACCURACY OF THIS RELEASE.