CANYON RESOURCES LIMITED — Share Issue/Capital Change 2012

Nov 1, 2012

Canyon Resources Limited ACN 140 087 261 Level 3, 10 Outram Street West Perth WA 6005

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2 November 2012

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

Dear Sir

Section 708A Notice

As advised in the Appendix 3B released 26 October 2012, Canyon Resources Limited (ASX: CAY) has issued 600,000 shares being the balance of the equity consideration for the purchase of the Pinarello project exploration permits in Burkina Faso. The Board has agreed to issue 300,000 of these shares in advance of the schedule outlined in the Company’s announcement made 2 November 2011.

The Company has also issued 50,000 shares being the first equity consideration for the purchase of the initial four permits of the Derosa project in Burkina Faso.

The new shares issued are part of a class of security quoted on the ASX Limited. The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The securities are issued without disclosure to investors under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act. The Company, as at the date of this notice, has complied with:

the provisions of Chapter 2M of the Corporations Act; and Section 674 and 675 of the Corporations Act.

There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.

Yours faithfully

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Phillip MacLeod Company Secretary

PO Box 270 West Perth WA 6872 Tel: +61 8 9413 7300 Fax: +61 8 9324 1502 www.canyonresoures.com.au