CANYON RESOURCES LIMITED — Capital/Financing Update 2016

Feb 23, 2016

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

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www.canyonresources.com.au

24 February 2016

The Manager Australian Stock Exchange Limited (“ASX”) Company Announcements Office

Expiring Options

Canyon Resources Limited (ASX: CAY) advises that 14,106,130 listed options (CAYO) and 3,000,000 unlisted options (CAYAK) will expire 29 February 2016. Both series of options have an exercise price of 16 cents each.

Yours faithfully

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Phillip MacLeod Company Secretary

PO Box 270 West Perth WA 6872 Tel: +61 8 6143 4256 Fax: +61 8 9389 1464