Certain statements contained in this Form 10-QSB constitute
"forward-looking statements.” These statements, identified by words such as
“plan,” "anticipate,” "believe,” "estimate,” "should,” "expect" and similar
expressions include our expectations and objectives regarding our future
financial position, operating results and business strategy. These statements
reflect the current views of management with respect to future events and are
subject to risks, uncertainties and other factors that may cause our actual
results, performance or achievements, or industry results, to be materially
different from those described in the forward-looking statements. Such risks and
uncertainties include those set forth under this Item 2. "Management's
Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly
Report on Form 10-QSB. We do not intend to update the forward-looking
information to reflect actual results or changes in the factors affecting such
forward-looking information. We advise you to carefully review the reports and
documents we file from time to time with the United States Securities and
Exchange Commission (the “SEC”), particularly our annual reports on Form 10-KSB,
our quarterly reports on Form 10-QSB and our current reports on Form 8-K.
INTRODUCTION
We were incorporated on January 21, 2000 under the laws of the
State of Nevada under the name “Aberdene Mines Limited.” We subsequently changed
our name to “Canyon Copper Corp.” on August 8, 2006.
We are an exploration stage company engaged in the acquisition,
exploration and development of mineral properties. We currently hold 100% title
in two major claim blocks comprising a total of 1,332 mineral claims, covering
approximately 27,440 acres located in Mineral County, Nevada (the “New York
Canyon Claims”), and a third block of claims consisting of 18 patented mineral
claims covering an area of approximately 361 acres, located within the vicinity
of the New York Canyon Claims area (the “Jaycor Claims”). We collectively refer
to the New York Canyon Claims and the Jaycor Claims as the “New York Canyon
Project.”
We have not earned any revenues to date and do not anticipate
earning revenues until such time as we enter into commercial production of our
mineral properties. We are presently in the exploration stage of our business
and we can provide no assurance that commercially viable mineral deposits exist
on our claims or that we will discover commercially exploitable levels of
mineral resources on our properties, or if such deposits are discovered, that we
will enter into further substantial exploration programs.
Recent Corporate Developments
We experienced the following significant corporate developments
since our last fiscal quarter ended September 30, 2007:
1.
On November 7, 2007, Bryan Wilson resigned as our
President and Treasurer. Mr. Wilson continues to act as a member of our
Board of Directors. Mr. Wilson’s resignation was not due to any
disagreements relating to our operations, policies or practices.
Replacing Mr. Wilson as our President is Benjamin
Ainsworth. Mr. Ainsworth has been our Secretary and a member of our Board
of Directors since May 30, 2006. Mr. Ainsworth is a senior geologist and
mining consultant who has been involved in the mining industry for over
thirty-five years. Replacing Mr. Wilson as our Treasurer is Kurt Bordian.
Mr. Bordian has been our Chief Financial Officer since January 6,
2006.
