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Canyon Issues Bonus Shares Under Loan Agreement

Financings Debt & Credit Facilities Share Capital & Compensation

Canyon Issues Bonus Shares Under Loan Agreement

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2017) -

Canyon Copper Corp.

(TSXV: CNC) ("Canyon") announces

that it has allotted and issued 200,000 common shares in the capital of Canyon ("Bonus Shares"), pursuant to the terms of the

loan agreement, entered into on May 3, 2016, with Metamin Enterprises Inc. ("Metamin").

The Bonus Shares are subject to restrictions on resale expiry on September 16, 2017.

On behalf of the Board of Directors,

"

Stephen Wallace

"

CANYON COPPER CORP.

Stephen Wallace, CEO

Contact:

Canyon Copper Corp.

Investor Relations

(604) 331-9326

(604) 684-9365 (FAX)

[email protected]

Cautionary Statement Regarding Forward Looking Information

This

New

s Release may contain, in addition to historical information, forward-looking statements. These forward-looking

statements are identified by their u

se of terms and phases such as "

believe,

" "expect," "

plan,"

"anticipate"

and similar

expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are

subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from

Canyon

's

expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but

are not limited to the following,

limited operating history, proposed exploration and/or drill programs

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.

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.