Canuc Announces New Board Member

Rhea-AI Summary

Canuc Resources Corporation (CNUCF) has appointed Kevin Olson to its Board of Directors. Olson brings over 20 years of experience in oil and gas technology and innovation, most recently serving as Director of Global Sales at Core Laboratories N.V. His expertise includes successful business expansion in the Permian Basin and Middle East regions. The company expects Olson's industry network and technology experience to benefit their West Texas natural gas operations and help explore cash flow opportunities while minimizing shareholder dilution.

Additionally, the company announced the resignation of Paul Davis, BSc (Hon), MSc from the Board of Directors.

Positive

• Addition of Kevin Olson brings over 20 years of oil and gas industry expertise
• Olson's experience in Permian Basin expansion aligns with company's West Texas operations
• Strategic focus on exploring cash flow opportunities to prevent shareholder dilution

Negative

• Loss of board member Paul Davis could impact board expertise and continuity

Toronto, Ontario--(Newsfile Corp. - May 22, 2025) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce that Mr. Kevin Olson has joined the Company's Board of Directors.

Mr. Olson is an active member of the Society of Petroleum Engineers (SPE). He has more than two decades of experience driving technology and innovation in the oil and gas industry and has recently served as Director of Global Sales at Core Laboratories N.V., a reservoir optimization leader. In this role Kevin had notable success developing business expansion across the Permian Basin in Texas, and in the Middle East.

Kevin holds a B. Comm from the University of Calgary. He has a track record of success leading cross-functional teams to identify, develop and launch new technologies in the oil and gas industry.

"We are pleased that Kevin is able to join Canuc's Board of Directors. Kevin's experience and familiarity with oil and gas technologies and his extensive professional network will benefit Canuc as we expand in-field developments at the company's natural gas producing assets in West Texas, and as we continue to explore cash flow opportunities in order to protect our shareholders from unnecessary dilution," stated Chris Berlet, CEO and Director of Canuc.

The Company also announces the resignation of Mr. Paul Davis BSc (Hon), MSc from the Company's Board of Directors. The Company would like to thank Paul for his professionalism and service during the period of his tenure on the Board.

About Canuc Resources Corp.

Canuc Resources Corporation is a junior resource company developing its 100% owned Scadding, Powerline, Jovan Project (the "SPJ Project") spanning 19,710 hectares situated approximately 40 kilometers northeast of the Prolific Sudbury Mining Camp and near to the extensive infrastructure of the adjacent Sudbury Mining District. The SPJ Project encompasses several centers of critical and precious metal mineralization interpreted to be related to a mineral system that can form IOCG 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.

Canuc Resources Corporation also holds a 100% interest in the San Javier Silver-Gold Project located in Sonora State, Mexico. The San Javier Silver-Gold Project spans 28 claims covering 1,052 hectares and evidences extensive 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, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments.

For further information please contact:

Canuc Resources Corporation
(416) 525 – 6869
cberlet@canucresources.ca

Forward-Looking Information

This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.

When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.

The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252986

FAQ

Who is Kevin Olson and what is his role at Canuc Resources (CNUCF)?

Kevin Olson is the newly appointed Board Member at Canuc Resources. He has over 20 years of experience in oil and gas technology and previously served as Director of Global Sales at Core Laboratories N.V.

What experience does Kevin Olson bring to Canuc Resources (CNUCF)?

Kevin Olson brings over two decades of experience in oil and gas technology, success in Permian Basin business expansion, and expertise as a member of the Society of Petroleum Engineers (SPE). He previously served as Director of Global Sales at Core Laboratories N.V.

How will Kevin Olson's appointment benefit Canuc Resources (CNUCF)?

Olson's experience and network will benefit Canuc's West Texas natural gas operations and help explore cash flow opportunities while protecting shareholders from dilution.

Who resigned from Canuc Resources' (CNUCF) Board of Directors?

Mr. Paul Davis BSc (Hon), MSc resigned from Canuc Resources' Board of Directors.