Canuc Begins Drilling at East Sudbury Project (ESP)

Rhea-AI Summary

Canuc Resources (OTCQB: CNUCF) has begun a diamond core drilling program at its East Sudbury Project (ESP) after acquiring 100% ownership on May 8, 2025. The company verified historical gold assays and identified multiple gold prospects near historic mine workings.

Key facts: 32,685 m of drill core is stored on site; historical assays in the target zone range up to 735.51 g/t Au (0.96 m) and include 36.27 g/t Au over 12.27 m. At least 46 historic holes previously intersected the zone. A minimum of 15 holes are planned in this phase to provide infill data aimed at producing a maiden Mineral Resource Estimate for Gold Lens 1.

Positive

• 100% ownership of ESP acquired on May 8, 2025
• 32,685 m of drill core stored at Scadding Gold Mine site
• Historical assays up to 735.51 g/t Au (0.96 m)
• Best reported historical intersection 36.27 g/t Au over 12.27 m
• Planned 15 infill drill holes to support a maiden MRE

Negative

• Unknown number of 1980s holes lack precise locations and assay data
• No maiden Mineral Resource Estimate yet; dependent on current drilling

Toronto, Ontario--(Newsfile Corp. - October 30, 2025) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) (WKN: A14ZX4) ("Canuc" or the "Company") is pleased to announce the start of a diamond core drilling program on the Company's East Sudbury Project "ESP".

Canuc acquired 100% ownership of the ESP on May 8^th, 2025. Since that time, the company has verified gold assay data relating to historical drilling (see press release dated October 22^st, 2025) and has identified numerous gold prospects located within the property and proximal to old gold mine workings. Drill core totalling 32,685 meters is stored at the Scadding Gold Mine site in the western part of the ESP.

Drilling Gold Lens 1

A review of historical drilling and assay information has confirmed a well-defined zone of gold mineralization located beside and beneath the past producing North Pit gold mine. The mineralized zone consists of a series of high-grade lenses developed within a broad zone of lower grade material measuring 80 m X 3m X 100 m and dipping north-east at an estimated 60 degrees. The zone has been intersected by at least 46 drill holes during three drilling campaigns by previous workers (Trueclaim Exploration Inc. between 2009 - 2011; Northern Sphere Mining, 2017; and MacDonald Mines Exploration Ltd, 2019 - 2025). There are also an unknown number of holes drilled in the 1980's for which precise locations and assay information are not available.

Assays from historical drill intersections within the mineralized zone range from less than a gram to highs up to 735.51 g/t, the latter over an intersected width of 0.96 m (Hole SM-20-026) with the best reported intersection being 36.27 g/t Au over 12.27 m (Hole # SM-19-001). A minimum of 15 holes within the zone are planned for this phase, all designed to provide fill-in information for areas not previously tested by drilling.

Two additional near surface zones of gold mineralization are currently recognized in close proximity to Zone 1, and will be tested by drilling after the current program is completed.

"This drilling program is designed to provide infill data around two closely related gold zones which have previously been identified and confirmed beside the historical North Pit gold mine workings. The infill data we seek with this drill program is expected to be sufficient for us to calculate a 'maiden' Mineral Resource Estimate for what we are now labelling as Gold Lens 1," stated Christopher Berlet, President & CEO of Canuc Resources Corp.

"Calculating a 'maiden' Mineral Resource Estimate for Gold Lens 1 is a required first step in formulating a mine plan and seeking extractive permits. Our objective with this work is ultimately to confirm that several profitable, high-grade, gold mining opportunities, 'gold lenses', are still present today and in place near to the historical gold mine workings which are found at various locations across the company's East Sudbury Project (ESP)."

Canuc's updated website and PowerPoint can be found at: www.canucresources.ca.

Drilling at ESP, October 2025
https://youtube.com/shorts/FnsIx75zbLQ
https://youtu.be/qbOxrfD19JY

The technical information in this release has been reviewed and approved by Seymour Sears, B.A., B.Sc., P.Geo, a non-independent qualified person as defined by NI 43-101, who is currently managing exploration activity on the ESP Project.

About Canuc Resources Corp.

Canuc Resources Corporation is a junior resource company developing its 100% interest in the East Sudbury Project ("ESP") which spans 19,710 hectares and is centered approximately 20 kilometers northeast of the Prolific Sudbury Mining Camp and near to the extensive infrastructure of the adjacent Sudbury Mining District. ESP 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 Scadding Gold Tailings Project.

Canuc 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.

Canuc 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. The Company also receives a 4% Net Smelter Royalty from gold production at the Scadding Gold Tailings Project located on Mining Claim LEA 107735 within the ESP property group.

For further information, please refer to the Company website: www.canucresources.ca.

Christopher J. Berlet BSc (Mining), CFA, CEO & Director of Canuc, is responsible for the content of this press release.

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/272484

FAQ

What did Canuc (CNUCF) announce about drilling at East Sudbury Project on October 30, 2025?

Canuc announced the start of a diamond core drilling program at ESP to infill Gold Lens 1 and support a maiden Mineral Resource Estimate.

How much historical drill core does Canuc report at the ESP site for CNUCF?

Canuc reports 32,685 m of drill core stored at the Scadding Gold Mine site within the ESP.

What historical gold assay highs did Canuc cite for Gold Lens 1 (CNUCF)?

Historical assays within the zone range up to 735.51 g/t Au over 0.96 m and 36.27 g/t Au over 12.27 m.

How many drill holes does Canuc plan in the current ESP phase to define Gold Lens 1 (CNUCF)?

A minimum of 15 holes are planned in this phase as infill to provide data for a maiden MRE.

When did Canuc acquire 100% of the East Sudbury Project (CNUCF)?

Canuc acquired 100% ownership of the ESP on May 8, 2025.