Ann: Board Update and Change to CEO Incentives, page-10

I'm okay with the incentives being reduced. Remember when Jean came on board we were trading between 8.5 - 10.5c and had the BFS news to come into play so realistically if that had all occurred as per Phil's timeline, without running the kitty dry, we would more than likely have been trading at 15-20c on such news. Well it got messed up and here we are now as a result. That cannot go unnoticed or without a consequence.

I think these milestones are now more realistic and certainly achievable, plus @25c that's over 5x todays price. I can tell you right now I'd be happy to pay JS 1,000,000 shares to have us trading at 25c and above. In my eyes he would have deserved every single share as there's a lot of work that needs to be done to reinstall confidence not only in shareholders, but also people looking to invest.

As much as I liked Phil as a human being, this had to happen in my eyes to start to repair the reputation of Canyon Resources. Well done to Phil and the board for recognising that and making swift movements to execute it. I truly wish him the best of luck in his future endeavours. It wouldn't have been easy giving up being top dog and realising your time is up.

Hopefully now some of the funds that shone away from Canyon due to previous history, will come back and revisit, revise and reinvest with Jean and Cliff at the helm. This is all part of a bigger plan and slowly it is starting to be executed in the interests of shareholders.

I for one will not snuff at either selling or being bought out at 25c and finally seeing a return on my investment after 12 long years.

Hold the faith Canyon Shareholders, we are finally seeing the change we not only wanted, but badly needed.

Looks the the market seems to like the news as well as my bid for another 500k @ 4.6c starts to dwindle away in the background.....