Mr. Chris Berlet reports

CANUC ACQUIRES MACDONALD MINES

Canuc Resources Corp. has completed the previously announced arrangement whereby Canuc has acquired all of the issued and outstanding shares of MacDonald Mines Exploration Ltd., subject to delivery of postclosing documentation to TSX Venture Exchange and final TSX-V acceptance.

The arrangement results in Canuc acquiring 100 per cent of Macdonald Mines' shares and a successor entity to Macdonald Mines becoming a wholly owned subsidiary of Canuc, such that all of the assets and liabilities of Macdonald Mines are now beneficially owned by Canuc. Pursuant to the arrangement, Canuc issued an aggregate of 73,768,343 shares, and shareholders of Macdonald Mines received 1.497 Canuc shares for each Macdonald Mines share, including approximately 1,796,400 Canuc shares issued as a result of the recent exercise of an aggregate of 1.2 million Macdonald Mines warrants.

"Significant opportunities and synergies accrete to both Canuc Resources and MacDonald Mines shareholders from this acquisition. The SPJ project, currently held by MacDonald Mines, spans more than 19,710 hectares (approximately 200 square kilometres) in east Sudbury, one of Canada's most storied mining jurisdictions, which has contributed to Canada's national wealth over three separate centuries and through two world wars. The San Javier project, held by Canuc, is located in Sonora state, Mexico, in an area that has supported small-scale artisanal silver, gold, copper and anthracite mining for over 200 years, and which has not yet been comprehensively explored with modern technologies or considered with present-day models of ore genesis.

"The prospect of delivering new discoveries in premier extractive jurisdictions by application of modern AI enhanced geological modelling and, also, concurrently, of developing cash flow opportunities from abandoned mine tailings and old mine workings gives us great confidence in our go forward strategy. We anticipate being able to provide meaningful shareholder updates in the months ahead," said Christopher Berlet, BSc (mining), CFA, president and chief executive officer of Canuc.

Outstanding options and warrants of Macdonald Mines may be exercised in accordance with their respective terms into shares of Canuc at the exchange ratio, representing approximately 2,867,504 Canuc shares issuable on exercise of outstanding Macdonald Mines options and an aggregate of 14.97 million Canuc shares issuable on exercise of outstanding Macdonald Mines warrants. On April 3, 2025, and April 22, 2025, an aggregate of 1.2 million Macdonald Mines warrants were exercised, and Canuc has issued an aggregate of 1,796,400 shares at the exchange ratio in satisfaction of the exercise of an aggregate of 1.2 million Macdonald Mines warrants.

About MacDonald Mines Exploration Ltd.

Founded in 1935, MacDonald Mines was a mineral exploration company focused on the evaluation, acquisition and development of precious and critical metal properties in Ontario. The company's flagship project, the 100-per-cent-owned Scadding, Powerline and Jovan project, spans 19,710 hectares and is situated approximately 40 kilometres northeast of the prolific Sudbury mining camp and near to the extensive infrastructure of the adjacent Sudbury mining district.

The SPJ project encompasses several centres of critical and precious metal mineralization interpreted to be related to a mineral system that can form iron oxide copper/gold and affiliated critical and precious mineral deposits. Included within the project is the historical Scadding gold mine and associated gold mineralized system and gold-bearing tailings. Minerals of interest on SPJ include copper, gold, cobalt, nickel and rare earth elements.

About Canuc Resources Corp.

Founded in 1952, Canuc is a junior resource company focusing on the San Javier silver-gold project in Sonora state, Mexico. The San Javier silver-gold project evidences silver, gold and copper mineralization interpreted to be related to a mineral system that can form silver-dominant IOCG and affiliated deposits. The company also generates cash flow from natural gas production at its MidTex energy project located in central-west Texas, United States, where Canuc has an interest in eight producing natural gas wells and has rights for further infield developments.

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