X0202 4 2004-07-02 0 0000739460 CANYON RESOURCES CORP CAU 0001228958 PASSPORT MANAGEMENT LLC 402 JACKSON STREET SAN FRANCISCO CA 94111 0 0 1 0 Common Stock 2004-07-02 4 S 0 2000 4.23 D 3497715 I See Footnotes Common Stock 2004-07-06 4 S 0 2000 4.14 D 3497715 I See Footnotes Common Stock 2004-07-07 4 S 0 6000 4.37 D 3498715 I See Footnotes Common Stock 2004-07-08 4 S 0 12000 4.42 D 3477715 I See Footnotes Common Stock 2004-07-12 4 S 0 19300 4.6 D 3458415 I See Footnotes Common Stock 2004-07-13 4 S 0 3000 4.72 D 3455415 I See Footnotes Common Stock 2004-07-14 4 S 0 8000 4.73 D 3447415 I See Footnotes Common Stock 2004-07-15 4 S 0 8100 4.77 D 3439315 I See Footnotes Common Stock 2004-07-19 4 S 0 53000 4.61 D 3386315 I See Footnotes Common Stock 2004-07-20 4 S 0 12500 4.27 D 3373815 I See Footnotes As of the earliest reported transaction on this Form 4, the shares reported in this response are beneficially owned by Passport Master Fund LP (2,250,474 shares), a British Virgin Islands international limited partnership, and Passport Master Fund II, LP (1,247,241 shares), a British Virgin Islands international limited partnership (each, a "Partnership," together, the "Partnerships") and indirectly beneficially owned by Passport Management, LLC ("Passport") (3,497,715 shares), a Delaware limited liability company and both Partnerships' investment adviser, Passport Capital, LLC (3,497,715 shares), a Delaware limited liability company and Passport's managing member, Passport Holdings, LLC (3,497,715 shares), a Delaware limited liability company and both Partnerships' general partner, and John H. Burbank III (3,497,715 shares), a natural person. The 2,250,474 shares reported for Passport Master Fund LP in footnote 1 consist of 646,800 restricted common shares, 1,603,674 unrestricted common shares and 646,800 warrants which are exercisable for 646,800 common shares. The 824,135 shares reported for Passport Master Fund II, LP in footnote 1 consist of 193,200 restricted common shares, 1,054,041 unrestricted common shares and 193,200 warrants which are exercisable for 193,200 common shares. Pursuant to the operating agreement of Passport, Mr. Burbank, in his capacity as the managing member of Passport Capital, LLC, is authorized, among other things, to indirectly direct the activities of Passport and, thereby, to exercise voting and dispositive power over the common shares reported herein. This joint filing on Form 4 shall not be deemed an admission that any reporting party is, 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. Mr. Burbank disclaims beneficial ownership of the shares being reported in this response except to the extent that he has a pecuniary interest therein. The positions set forth in footnotes 1-2 herein, should be adjusted for the additional transactions covered by this joint filing on Form 4. Transaction executed for the beneficial ownership of Passport Master Fund LP. 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 member 2004-07-29 PASSPORT MASTER FUND LP, By: Passport Holdings, LLC, its GP, 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 III, its managing member 2004-07-29 JOHN H. BURBANK III 2004-07-29