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CANYON RESOURCES LIMITED Capital/Financing Update 2011

Nov 8, 2011

64608_rns_2011-11-08_e41afc88-863b-48bb-93dd-59975a7a8539.pdf

Capital/Financing Update

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MARKET RELEASE

9 November 2011

Canyon Resources Limited

TRADING HALT

The securities of Canyon Resources Limited (the "Company") will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Friday 11 November 2011 or when the announcement is released to the market.

Security Code: CAY

Mauro Piccini Adviser Listings (Perth)

Canyon Resources Limited ACN 140 087 261 Level 3, 10 Outram Street West Perth WA 6005 www.canyonresources.com.au

9 November 2011

Mauro Piccini Adviser ASX Compliance Pty Limited Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Mauro,

Request for Trading Halt

Canyon Resources Limited ("Canyon") requests an immediate trading halt pursuant to ASX Listing Rule 17.1 pending the release of an announcement regarding a proposed capital raising.

Canyon is not aware of any reason why a trading halt should not be granted.

Canyon requests the trading halt remain in place from receipt of this request until the release of the capital raising announcement, and in any case, no later than the commencement of trading on Friday 11 November 2011.

Yours faithfully

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hilly J. M.L.

Phillip MacLeod Company Secretary