Canuc Resources Corporation reports developments tied to its mineral exploration and development activities in Ontario. The company owns the East Sudbury Project, a gold, copper, cobalt and critical-mineral property near the Sudbury Mining Camp that includes the historical Scadding Gold Mine and related tailings project.
Recurring updates for CNUCF include drilling and assay verification at East Sudbury, geological reviews following the acquisition of MacDonald Mines, project governance for Scadding-related work, flow-through private placements, warrant and option adjustments, and capital-structure actions such as its completed share consolidation.
Canuc Resources (CNUCF) announced the closing of a private placement raising CAD $5,988,000 to advance mineral exploration and development. The financing issued 4,990,000 units at $1.20 each, comprising one common share and one-half warrant. Each whole warrant permits purchase of an additional share at $1.80 for two years from issuance, subject to early exercise provisions. Final closing remains subject to TSX Venture Exchange acceptance.
Proceeds will fund engineering, mine planning and drilling-related activities at the 100%-owned East Sudbury Project, plus exploration studies at the 100%-owned San Javier Silver-Gold Project. Canuc is completing engineering studies to support permitting for bulk-sample gold mining and production along the Timmins Creek Fault, with potential production intended to reduce reliance on equity financing. It is also preparing to drill iron oxide copper-gold targets identified through recently completed geophysical surveys.
Canuc Resources (CNUCF) reports a new near-surface gold-mineralized Zone 2 at its 100%-owned East Sudbury Project, defined by 10 drill holes over about 170 metres of strike.
The north-dipping chlorite breccia zone lies immediately adjacent to the historical East-West Pit at the past-producing Scadding Gold Mines and has been tested on 25 m-spaced sections to vertical depths of roughly 50–75 m. Highlight intercepts include 20.0 m grading 1.51 g/t Au in SM-26-153, 8.0 m at 1.21 g/t Au from 3.5 m depth in SM-26-151, 19.9 m at 0.56 g/t Au in SM-26-152, and 4.0 m at 1.28 g/t Au plus 1.0 m at 4.29 g/t Au in SM-26-160. Five 2025 grab samples from pit material averaged 6.72 g/t Au. Four additional holes testing a possible fault offset are completed with assays pending. The company plans to include Zone 2 in a maiden ESP mineral resource estimate expected later in 2026 and notes it is internally funded through eight producing MidTex natural gas wells and a 4% NSR on Scadding tailings.
Canuc Resources (OTCQB: CNUCF) has commenced a major airborne Full Tensor Gravity Gradiometer (FTG), magnetic and LiDAR survey, flown by Bell Geospace, over its 100% owned East Sudbury Project (ESP) in Ontario, covering a ~200 km2 land package and nearly 2,000 line-kilometres.
According to Canuc, the program will map deep geological structures, refine understanding of the McLaren Lake Fault and parallel faults, and integrate FTG results with seismic, historical drilling, past-producing gold and copper mines and AI-driven analysis to prioritize high-value gravity anomalies and large-scale drill targets, including potential IOCG-style deposits at depth.
Canuc Resources (OTCQB: CNUCF, TSXV: CDA) announced that its common shares are now Depository Trust Company (DTC) eligible in the United States. DTC eligibility enables electronic clearing and settlement through the Depository Trust Company, which can reduce transaction costs, speed settlements and eliminate physical share certificates for participating brokerages.
According to Canuc, this milestone, together with its OTCQB Venture Market listing, is expected to expand its U.S. capital markets presence, improve trading accessibility and potentially increase liquidity and visibility among U.S. institutional and retail investors.
Canuc Resources (OTCQB: CNUCF) reported that OptiSeis Solutions has successfully completed an innovative, ultra-low-impact 3-D seismic survey along the McLaren Lake Fault Zone on Canuc’s 100%-owned East Sudbury Project near Sudbury, Ontario. The program covered about 13.5 km of lines, all on existing roads, was finished in seven days, and used 1,355 autonomous nodal sensors, two IVI Minivibrators and more than 2,700 source points to generate a dense subsurface dataset.
According to Canuc, Natural Resources Canada also acquired a Vertical Seismic Profile using fibre-optic cable in three wellbores, providing complementary data. The company expects this work to generate direct exploration targets for MIAC and IOCG-style deposits near historical copper-gold workings and plans follow-up work alongside a property-wide gravity gradiometric survey.
Canuc Resources (OTCQB:CNUCF, TSXV:CDA) reported new drill results from the Glade Area at its East Sudbury Project (ESP) in Ontario.
Highlights include 9.2 m grading 8.99 g/t Au in hole SM-26-148 and polymetallic mineralization with copper, nickel and cobalt in Glade Zone 2.
Canuc Resources (OTCQB:CNUCF) has signed a master service agreement with Verum Mining Consultants to advance its East Sudbury Project in Ontario. Verum will provide technical consulting, including mineral resource calculation for Lens 1, conceptual mine planning, scheduling, and permitting support. Work is conceptual and not a NI 43-101 economic study.
Canuc Resources (OTCQB: CNUCF) completed a 10-for-1 share consolidation effective February 18, 2026.
The company now has 28,453,148 common shares outstanding, began trading on a post-consolidation basis at market open on February 18, 2026, and has new identifiers: CUSIP 138909502 and ISIN CA1389095029. All warrants and incentive stock options were adjusted to increase exercise prices by tenfold and to divide issuance amounts by ten.
Canuc (OTCQB: CNUCF) will consolidate its common shares on a 10-for-1 basis, reducing issued shares from 284,531,484 to approximately 28,453,148.
All warrants, options and convertible securities will be adjusted 10-fold in price and reduced tenfold in share quantity. The company expects TSX-V final approval effective February 17, 2026.
Canuc Resources (OTCQB: CNUCF; TSXV: CDA) closed a CAD 2,790,000 flow-through private placement on December 30, 2025, issuing 18,000,000 units. Each unit comprises one flow-through common share at $0.155 CAD and one half of a share purchase warrant. Whole warrants allow purchase at $0.18 CAD for two years, with an early-trigger if the 10-day average share price exceeds $0.24, after which unexercised warrants lapse 30 days later.
Proceeds will fund exploration of the East Sudbury Project. All securities carry a four-month-plus-one-day hold. Closing is subject to TSX Venture Exchange acceptance.