X0202 3 2004-02-03 0 0000739460 CANYON RESOURCES CORP cau 0001228958 PASSPORT MANAGEMENT LLC 402 JACKSON STREET SAN FRANCISCO CA 94111 0 0 1 0 Common Stock 2653000 I See Footnotes Common Stock 2653000 I See Footnotes Common Stock 2653000 I See Footnotes Consists of 840,000 restricted common shares, 973,000 unrestricted common shares and 840,000 warrants, which are exercisable for common shares. The shares reported in this response are beneficially owned by Passport Master Fund LP (1,853,865 shares) and Passport Master Fund II, LP (799,136 shares) , each an international limited partnership formed under the laws of the British Virgin Islands (each, a "Partnership," together, the "Partnerships") and indirectly beneficially owned by Passport Management, LLC ("Passport") , a Delaware limited liability company and the Partnerships' investment adviser (2,653,000 shares), Passport Holdings, LLC, a Delaware limited liability company and the Partnerships' general partner (2,653,000 shares), Passport Capital, LLC, a Delaware limited liability company and the managing member of Passport and Passport Holdings, LLC (2,653,000 shares), Ralph K. McCluskey II, a natural person and control person and managing partner of Passport (2,653,000 shares), and John H. Burbank III, a natural person and a control person and managing partner of Passport (2,653,000 shares). The 1,853,865 shares reported for Passport Master Fund LP (see footnote 2 above) consist of 646,800 restricted common shares, 560,265 unrestricted common shares and 646,800 warrants, which are exercisable for 646,800 common shares. The 799,136 shares reported for Passport Master Fund II, LP (see footnote 2 above) consist of 193,200 restricted common shares, 412,735 unrestricted common shares and 193,200 warrants, which are exercisable for 193,200 common shares. Pursuant to the operating agreement of Passport, Mssers. McCluskey and Burbank, in their separate capacities as managing partners of Passport Capital, LLC, are authorized, among other things, to indirectly and jointly direct the activities of Passport and, thereby, to exercise voting and dispositive power over the common shares reported herein. This joint filing on Form 3 shall not be deemed an admission that any of the reporting persons are, for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise, the beneficial owner of any equity securities reported in this joint filing. All such persons disclaim beneficial ownership of the shares being reported hereby except to the extent that he or it has an indirect pecuniary interest therein. PASSPORT MANAGEMENT, LLC, By: Passport Capital, LLC, its managing member, By: John H. Burbank III, its managing member 2004-07-29 PASSPORT CAPITAL, LLC, By: John H. Burbank III, its managing member 2004-07-29 PASSPORT HOLDINGS, LLC, By: Passport Capital, LLC, its managing member, By: John H. Burbank III, its managing partner 2004-07-29 PASSPORT MASTER FUND LP, By: Passport Holdings, LLC, its GP, By: Passport Capital, LLC, its managing member, By: John H. Burbank III, its managing partner 2004-07-29 PASSPORT MASTER FUND II, LP, By: Passport Holdings, LLC, its GP, By: Passport Capital, LLC, its managing member, By: John H. Burbank, its managing partner 2004-07-29 JOHN H. BURBANK III 2004-07-29 RALPH K. MCCLUSKEY II 2004-07-29