Canyon Copper Corporation announced that it has closed its assignment agreement with Metamin Enterprises Inc, a company controlled by Mr Benjamin Ainsworth Canyon's President, Secretary and director and Metamin Enterprises USA Inc a wholly owned subsidiary of the Assignor.

Accordingly, the Assignor has assigned to Canyon all of its right, title and interest in and to an option agreement between the Assignor and Lester Storey to acquire the Moonlight Copper Porphyry Property.

As consideration for the assignment, Canyon paid USD 15,000 and issued 75,000 shares of Canyon to the Assignor and issued 75,000 shares of Canyon to the Optionor. In addition, Canyon will also reimburse the Assignor up to USD 100,000 in expenses incurred by the Assignor on the Moonlight Copper Porphyry Property.