Mr. Christopher Berlet, an investor, reports

NEWS RELEASE FOR EARLY WARNING REPORT REGARDING CANUC RESOURCES CORPORATION

On April 3, 2023, Christopher Berlet acquired securities in a non-brokered private placement of Canuc Resources Corp., a company with its head office located at Suite 607, 130 Queens Quay E, Toronto, Ont., M5A 3Y5.

In particular, on April 3, 2023, Mr. Berlet completed the purchase of 250,000 units of the company at a price of eight cents per unit for aggregate consideration of $20,000. Each unit offered in the private placement comprised one common share priced at eight cents per common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at 25 cents for a period of two years from the closing of the private placement.

Immediately before the private placement, Mr. Berlet owned, directly or indirectly, or exercised control or direction over, approximately 15,095,000 common shares and 170,000 warrants, representing approximately 10.94 per cent of the issued and outstanding common shares of the company on a non-diluted basis (and representing approximately 11.06 per cent on a partly diluted basis, assuming the exercise of all warrants held by Mr. Berlet).

Following closing of the private placement, Mr. Berlet owned, directly or indirectly, or exercised control or direction over, approximately 15,345,000 common shares and 295,000 warrants, representing approximately 11.37 per cent of the issued and outstanding common shares of the company on a non-diluted basis (and representing approximately 11.56 per cent on a partly diluted basis, assuming the exercise of all warrants held by Mr. Berlet). As a result of the private placement, Mr. Berlet's ownership percentage increased by 0.43 per cent.

Mr. Berlet acquired the common shares and warrants for investment purposes. In accordance with applicable securities laws, Mr. Berlet may, from time to time, acquire additional shares or other securities of the company and may dispose of securities depending on market conditions and other relevant factors.

This news release is being issued in accordance with National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the filing of early warning report dated April 27, 2023. A copy of the early warning report has been filed under applicable securities laws and is available under the company's profile on SEDAR.