739460--3/27/2006--CANYON_RESOURCES

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Gold Production at Our Briggs Mine Involves Many Steps and the Amount of Gold to be Recovered is Not Known with Certainty. Recent California Legislation and Regulations May Prohibit Us From Developing Any Projects Adjacent to Our Briggs Mine. We Have Significant Obligations At The Briggs Mine, Which May Adversely Impact Liquidity. We Have A History Of Losses, Which May Continue In The Future. RISKS RELATED TO OUR MINERAL EXPLORATION AND DEVELOPMENT ACTIVITIES We May Not Have Sufficient Funding For Exploration, Which May Hinder Our Growth. We May Not Have Sufficient Funding To Achieve Production If Our Exploration and Development Is Successful. The Nature Of Mineral Exploration And Production Activities Involves A High Degree Of Risk; We Could Incur A Writedown On Our Investment In Any Project. Our Industry Is Highly Competitive, Mineral Lands Are Scarce, And We May Not Be Able To Obtain Quality Properties. Gold Prices Are Volatile And Declines Have An Adverse Effect On Our Share Price And Business Plan. We Must Comply With Complex Environmental Regulations Which Are Increasing And Costly. Title To Mineral Properties Can Be Uncertain And We Are At Risk Of Loss Of Ownership. Legislation Has Been Proposed That Would Significantly Affect The Mining Industry. The Economics and Ore Grades at Current And Future Development Properties Are Uncertain, And We Could Experience A Write-down On Our Investment. RISKS RELATED TO OUR COMMON STOCK The Exercise Of Options, Warrants, And Conversion Of Our Existing Debentures And The Future Issuances Of Common Stock Will Dilute Current Shareholders And May Reduce The Market Price Of Our Common Stock. We are subject to the Continued Listing Criteria of the American Stock Exchange ( AMEX ).

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739460--3/27/2006--CANYON_RESOURCES_CORP