Canuc Resources Secures Financing for East Sudbury Projects

Canuc Resources Corporation, a junior resource company focused on advancing its 100%-owned East Sudbury Project (ESP), has closed a private placement financing for aggregate gross proceeds of $5,988,000 CAD. This financing, which resulted in the issuance of 4,990,000 units at a price of $1.20 per unit, provides the Company with significant new capital to advance its exploration and development strategy.

The Private Placement saw the issuance of 4,990,000 units, each consisting 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.

Proceeds of the financing will provide Canuc with a strengthened treasury to advance exploration and development at the Company's 100%-owned East Sudbury Project, including extractive engineering, mine planning and drilling-related activities, and to support exploration studies at the Company's 100%-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.

Canuc Resources Corporation, a junior resource company focused on advancing its 100%-owned East Sudbury Project (ESP), has successfully closed a private placement financing for $5,988,000 CAD. This financing, which involved the issuance of 4,990,000 units at a price of $1.20 per unit, has provided the Company with significant new capital to advance its exploration and development strategy. The financing resulted in the issuance of 4,990,000 units, each consisting 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.