Oct 15 (Reuters) - Canyon Resources Ltd CAY.AX :
* Canyon raises $1M for cameroon bauxite projects CAY.AX
* Funds raised will be utilised to fund ongoing evaluation of the company's birsok bauxite project in cameroon
* Says company has agreed to issue up to 10 million shares at a price of 5 cents each to raise $500,000
* Notes are unsecured with no interest accruing and a maturity date approximately 12 months from the date of issue
* Further $500,000 will be raised through issue of 10 million convertible notes (notes) at 5 cents each
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