Mr. Christopher Berlet reports

CANUC CLOSES $5.99 MILLION PRIVATE PLACEMENT TO ACCELERATE EAST SUDBURY DEVELOPMENT AND EXPLORATION

Canuc Resources Corp. has closed a private placement financing for aggregate gross proceeds of $5,988,000, providing the company with significant new capital to advance its exploration and development strategy. The private placement resulted in the issuance of 4.99 million units at a price of $1.20 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at an exercise price of $1.80 for a period of two years from the date of issuance.

Each whole warrant has an early exercise provision that allows the company to trigger exercise of the warrant when the 10-day volume weighted average price (VWAP) of common shares traded on the TSX Venture Exchange exceeds $2.40 per share. Thirty days after the trigger date, any unexercised warrants will be deemed to be null and void. All securities issued under this private placement will be subject to a hold period expiring four months and one day from the date of closing.

"This financing represents an important milestone for Canuc and provides us with the capital to advance two complementary initiatives simultaneously at our 100-per-cent-owned East Sudbury project (ESP)," stated Christopher Berlet, chief executive officer and director of Canuc Resources.

"Firstly, we are completing the engineering studies required to support permitting for bulk sample gold mining and gold production along the Timmins Creek fault, near the site of the historical Scadding gold mine. Our objective is to establish a pathway toward gold production that could provide a source of non-dilutive funding for continued advancement of the ESP and to reduce the company's reliance on future equity financing.

"Secondly, we are preparing to drill IOCG targets now being identified by the comprehensive seismic and full tensor gravity gradiometric surveys that have recently been completed across the broader ESP property. These modern geophysical data sets are providing a new framework for evaluating the extensive historical copper and gold mine workings and the evidence of mineralization, which is seen in abundance across the approximately 200-square-kilometre ESP property. We believe the upcoming drill program has the potential to materially advance understanding of the scale and geological potential of this highly prospective mineral system located only 20 km east of the globally significant Sudbury basin mining complexes, and their associated infrastructure and support services."

Proceeds of the financing will provide Canuc with a strengthened treasury to advance exploration and development at the company's 100-per-cent-owned East Sudbury project (ESP), including extractive engineering, mine planning and drilling-related activities, and to support exploration studies at the company's 100-per-cent-owned San Javier silver-gold project. The financing enables the company to pursue multiple value-creation initiatives while maintaining full ownership of both core mineral projects.

Final closing of this private placement is subject to acceptance by the TSX Venture Exchange.

About Canuc Resources Corp.

Canuc Resources is a junior resource company focused on advancing its 100-per-cent-owned East Sudbury project, a 20,078-hectare property located approximately 20 kilometres northeast of the prolific Sudbury mining camp and near the extensive infrastructure of the Sudbury mining district. ESP encompasses multiple centres of critical and precious metal mineralization interpreted to be associated with a mineral system capable of forming IOCG (iron oxide, copper and gold) and affiliated critical and precious mineral deposits. The project includes the historical Scadding gold mine and the associated Scadding gold tailings project, providing Canuc with both advanced-stage gold opportunities and district-scale exploration potential.

Canuc also holds a 100-per-cent interest in the San Javier silver-gold project in Sonora state, Mexico. The San Javier silver-gold project spans 28 claims covering 1,052 hectares and hosts extensive silver, gold and copper mineralization interpreted to be associated with a mineral system capable of forming silver-dominant IOCG and affiliated deposits.

In addition to its mineral exploration portfolio, Canuc generates cash flow from natural gas production at its MidTex energy project in central West Texas, where the company holds interests in producing natural gas wells and rights for further in-field development. Canuc also receives a 4-per-cent net smelter royalty from gold production at the Scadding gold tailings project on mining claim LEA 107735 within the ESP property group.

We seek Safe Harbor.