Canyon Copper Corp. is in the StockGuru Spotlight for January 20, 2011

Canyon Copper Corp. is in the StockGuru Spotlight for January 20, 2011

DALLAS, TEXAS : StockGuru announces that Canyon Copper Corp. (OTCBB: CNYC) is in the StockGuru Spotlight.    Canyon Copper Corp.’s New York Canyon Property is located in the New York Canyon area of the Santa Fe Mining District, Mineral County, Nevada. The project hosts oxide and sulphide copper bearing mineralization outlined by historical operators. The most advanced of these zones is the Longshot Ridge copper oxide deposit. This zone has not been completely outlined and remains partially open. The Copper Queen mineralized zone is located approximately three kilometres west of Longshot Ridge and hosts copper and molybdenum sulphide mineralization. Several additional mineralized areas identified throughout the New York Canyon property have yet to be explored.

On Wednesday, the company put out news announcing that it approved a private placement offering at a price of CDN $0.35 per Unit for gross proceeds of up to CDN $3.15 million (the “Foreign Private Placement”). Each Unit will consist of one share of the Canyon’s common stock and one-half share purchase warrant, with each whole warrant entitling the holder to purchase an additional share of Canyon’s common stock at a price of CDN $0.50 per share for a period of eighteen months from the date of issuance of the Units. Canyon will also have the right to accelerate the expiry date of the warrants if the trading price of Canyon’s common stock has been equal to or greater than CDN $0.60 for ten consecutive trading days.

Shares for Canyon Copper Corp. (OTCBB: CNYC) were up during the late afternoon of trading on Wednesday and closed up two cents at closing.


To view our StockGuru Spotlight on Canyon Copper Corp. (OTCBB: CNYC), please visit: http://www.stockguru.com/category/latest-spotlights/

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