CANYON RESOURCES LIMITED — Capital/Financing Update 2013

Nov 28, 2013

Canyon Resources Limited ACN 140 087 261 353 Rokeby Road Subiaco WA 6008

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29 November 2013

The Manager ASX Limited Company Announcements Office

Dear Sir

Information Required Under Listing Rule 3.10.5A

This information is provided in relation to a prior placement of shares announced on 1 February 2013 and completed on 12 February 2013. The information is provided as a requirement of ASX Listing Rules 7.1A.4(b) and 3.10.5A.

On 12 February 2013 Canyon Resources Limited (“Canyon” or “the Company”) issued a total of 9,726,156 fully paid ordinary shares (“Placement”). The shares were issued pursuant to ASX listing rules 7.1 (8,610,124 shares) and 7.1A (1,116,032 shares). Canyon provides the following information as required under ASX listing rule 3.10.5A:

a) The dilution to existing shareholders at the time of the Placement as a result of the issue under ASX listing rule 7.1A was 1.9%.

Details of the approximate percentage of the issued capital post the Placement of shares under ASX listing rule 7.1A held by the pre-Placement shareholders and new shareholders are:

Pre-Placement shareholders who did notparticipate in the Placement	98.1%
Pre-Placement shareholders who didparticipate	1.5%
Participants in the Placement who were notpreviouslyshareholders	0.4%

b) Canyon issued shares to sophisticated and institutional investors as it was considered to be a more efficient mechanism for raising the funds for this Placement. The Placement did not expose the Company to market volatility that it may have experienced over a more extended capital raising process such as a pro-rata issue. At the time of announcing the Placement the Company also announced and undertook a Share Placement Plan that allowed existing shareholders to invest up to $15,000 each on the same terms as the Placement;

c) No underwriting arrangements were in place for the Placement; and

PO Box 270 West Perth WA 6872 Tel: +61 8 6143 4256 Fax: +61 8 9389 1464 www.canyonresoures.com.au

d) The capital raising fees payable to Hartleys Limited, the Lead Broker to the Placement, were 6% of the total funds raised. In addition to the capital raising fee, nominees of Hartleys Limited were issued 3,000,000 unlisted options exercisable at 16 cents each expiring 29 February 2016.

Yours faithfully Phillip MacLeod Company Secretary

PO Box 270 West Perth WA 6872 Tel: +61 8 6143 4256 Fax: +61 8 9389 1464 www.canyonresoures.com.au