Canyon Copper Corp. ("Canyon") (TSX-V: CNC) announces that further to its August 31, 2015 news release which describes the execution of a limited forbearance agreement, Canyon Copper Corp. and Falcon have agreed to terminate the option agreement pursuant to the New York canyon property. With the persistent difficult mining financing environment, Falcon has been unable to raise the required funds to satisfy the terms of the agreement.

On behalf of the Board of Directors,

"Benjamin Ainsworth"

CANYON COPPER CORP.
Benjamin Ainsworth, President

Contact:
Canyon Copper Corp.
Investor Relations
1-888-331-9326
(604) 331-9326
(604) 684-9365 (FAX)
info@canyoncc.com

Cautionary Statement Regarding Forward Looking Information

This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Falcon's ability to satisfy all payments and obligations due under the Agreement, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.