Canuc Drills 5 m of 10.02 g/t Au Near Surface in Gold Lens 1

Rhea-AI Summary

Canuc Resources (OTCQB: CNUCF) reported results from the first three diamond drill holes testing Gold Lens 1 at its 100% owned East Sudbury Project on December 1, 2025. The program targets a near-surface, Fe-chlorite hosted gold zone that outcrops beside the past-producing North Pit Gold Mine.

Key results: SM-25-120 returned 10.0 m @ 5.11 g/t Au (14.5–24.5 m), including 5.0 m @ 10.02 g/t Au and 1.0 m @ 40.9 g/t Au. True width at this location is estimated at ~90%. Holes SM-25-118 and SM-25-119 did not intersect the main zone.

The company plans a maiden resource estimate for Gold Lens 1 and further exploration across the ~80 m strike where widths of 3–5 m have been observed.

Positive

• SM-25-120: 10.0 m @ 5.11 g/t Au
• 5.0 m @ 10.02 g/t Au within main interval
• 1.0 m @ 40.9 g/t Au high-grade core
• Mineralization begins at surface; true width ~90%
• Company intends to calculate a maiden resource for Gold Lens 1

Negative

• Two of three holes (SM-25-118, SM-25-119) missed the main zone
• Observed strike extent is limited to ~80 m with narrow widths of 3–5 m
• Fault in SM-25-118 appears to cut off the zone at that location

News Market Reaction – CNUCF

+7.30%

1 alert

+7.30% News Effect

On the day this news was published, CNUCF gained 7.30%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Historical drill holes: 147 holes Strike length: 80 m Zone width: 3–5 m +5 more

8 metrics

Historical drill holes 147 holes Estimated historical drilling into Gold Lens 1

Strike length 80 m Gold Lens 1 identified on surface

Zone width 3–5 m Observed widths of Gold Lens 1 on surface

Main intercept 10.0 m @ 5.11 g/t Au Hole SM-25-120 from 14.5 to 24.5 m

High-grade sub-interval 5.0 m @ 10.02 g/t Au Lower portion of SM-25-120 main zone

Peak sample grade 1.0 m @ 40.9 g/t Au Within SM-25-120 main zone

True width factor 90% Estimated true width vs intersected width at SM-25-120

Price vs 52-week range $0.069 148.2% above 52-week low, 37.27% below 52-week high

Market Reality Check

Price: $0.0806 Vol: Volume 10,000 is below th...

low vol

$0.0806 Last Close

Volume Volume 10,000 is below the 20-day average of 17,611 (relative volume 0.57x). low

Technical Price at $0.069 is trading above the 200-day MA of $0.06 and remains 37.27% below the 52-week high.

Peers on Argus

CNUCF gained 0.58% on positive drill results while sector peers showed mixed mov...

CNUCF gained 0.58% on positive drill results while sector peers showed mixed moves, from -5.2% (HGTXU) to 13.57% (CNRC), indicating a stock-specific reaction rather than a coordinated sector rotation.

Historical Context

5 past events · Latest: Dec 01 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 01	Drill results	Positive	+7.4%	Reported high-grade near-surface intercepts at Gold Lens 1 on ESP.
Nov 11	Seismic survey	Positive	+14.3%	Natural Resources Canada commissioned seismic survey on McLaren Lake Fault Zone.
Oct 30	Drilling start	Positive	+22.4%	Started diamond drilling at ESP targeting Gold Lens 1 maiden resource.
Oct 22	Assay verification	Positive	-4.4%	Completed gold assay verification confirming historical results across ESP core.
Sep 09	Acquisition update	Positive	+11.8%	Updated on MacDonald Mines acquisition and high-grade ESP gold lenses.

Pattern Detected

Recent East Sudbury Project news has usually led to positive price moves, with four out of five events showing gains and one divergence where positive assay verification coincided with a modest decline.

Recent Company History

This announcement adds concrete drill results to a series of East Sudbury Project milestones. Since Sep 09, 2025, Canuc has updated on the ESP acquisition, historic high-grade intersections, assay verification over 32,685 m of core, and commencement of a 15-hole drilling program. Seismic work commissioned for early 2026 further supports systematic exploration. Today’s near-surface intercept at Gold Lens 1 advances the transition from verification and planning toward defining a maiden resource on this high-grade lens.

Market Pulse Summary

The stock moved +7.3% in the session following this news. A strong positive reaction aligns with pri...

Analysis

The stock moved +7.3% in the session following this news. A strong positive reaction aligns with prior East Sudbury Project news, where several updates prompted gains of up to 22.38%. The new intercept of 10.0 m @ 5.11 g/t Au, including 5.0 m @ 10.02 g/t Au, adds concrete support to the high-grade potential at Gold Lens 1. Investors would have weighed this against the stock still trading 37.27% below its 52-week high, while considering project and execution risks.

Key Terms

diamond core drilling, maiden resource, Fe-Chlorite, g/t Au, +2 more

6 terms

diamond core drilling technical

"results for the first 3 holes of a diamond core drilling program testing Gold Lens 1"

Diamond core drilling is a method of mining exploration that cuts a cylindrical plug of rock using a diamond-lined drill bit, producing an intact core sample like taking a tissue biopsy from the earth. Investors care because those samples are tested to show the type, concentration and continuity of minerals, which directly affects how much a deposit might be worth, how risky development is, and how confidently companies can plan budgets and timelines.

maiden resource technical

"with the objective of estimating a 'maiden' resource for this discrete, relatively high-grade"

A maiden resource is the first formal estimate of how much of a mineral or commodity is present in a deposit, based on the initial exploration drilling and data. For investors it matters because it turns possibility into a measurable quantity—think of it as the first inventory count for a potential store—helping convert geological promise into a basis for valuation, project planning and decisions about further funding or development.

Fe-Chlorite technical

"relatively high-grade, gold bearing Fe-Chlorite zone which daylights on surface"

Fe-chlorite is an iron-rich member of the chlorite family of sheet silicate minerals, typically appearing as greenish, flaky or clay-like material formed when rocks are chemically altered by hot fluids. For investors, its presence in drill cores or outcrops often signals hydrothermal alteration that can be associated with concentrations of metals such as copper, gold or iron, so it acts like a visible clue on a property that exploration is targeting valuable mineral deposits.

g/t Au technical

"assaying 5.11 g/t Au over this 10 m interval"

g/t Au stands for grams per tonne of gold and measures how much gold is contained in one tonne of rock or ore. Investors use it like a yield rate: higher g/t Au means more gold recovered from the same amount of material, which usually improves a mine’s revenue potential and lowers production cost per unit of metal. Think of it as the sweetness level of fruit—more sugar per piece makes each piece more valuable.

qualified person regulatory

"a non-independent qualified person as defined by NI 43-101, who is currently managing"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

NI 43-101 regulatory

"qualified person as defined by NI 43-101, who is currently managing exploration activity"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

AI-generated analysis. Not financial advice.

Toronto, Ontario--(Newsfile Corp. - December 1, 2025) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) (WKN: A14ZX4) ("Canuc" or the "Company") is pleased to announce results for the first 3 holes of a diamond core drilling program testing Gold Lens 1 on the Company's 100% owned East Sudbury Project (ESP).

Gold Lens 1 is located directly beside the past producing North Pit Gold Mine which is the northern most of several past producing gold mines found within the Company's East Sudbury Project (ESP) area. Gold Lens 1 is estimated to have some 147 historical drill holes including the previously identified (Hole # SM-19-001) (Company press release October 30^th, 2025).

The objective of this drill program is to define the outside boundaries of Gold Lens 1, and to provide confidence in the continuity of areas within the zone where infill drilling is required. Gold Lens 1 begins on surface and dips at approximately 45 degrees plunging more steeply towards the northeast. This zone is identified over a strike length of 80 meters on surface and is seen to have widths ranging from 3 - 5 m.

This drilling is being undertaken with the objective of estimating a 'maiden' resource for this discrete, relatively high-grade, gold bearing Fe-Chlorite zone which daylights on surface in the west end of the North Pit Gold Mine. The Company now refers to this structure as Gold Lens 1.

The first 2 holes were designed to define the northern edge of the zone. Hole SM-25-118 encountered a fault that appears to cut off the zone in that location. Hole SM-25-119 intersected an upper mineralized zone containing low gold values and passed beyond the north boundary of the main zone at depth. The third hole intersected the main zone from 14.5 to 24.5 m assaying 5.11 g/t Au over this 10 m interval. The lower 5.0 m of this zone assayed 10. 02 g/t Au including a 1 m interval assaying 40.9 g/t Au. The true width is estimated to be 90% of the intersected width in this location.

Table 1.

Drill Hole Id.	Easting	Northing	Elevation	Azimuth	Dip	Depth	From  (m)	To  (m)	Width  (m)	Au  (g/t)
SM-25-118	529179	5166724	307	330	-75	48	Intersected a Fault Zone
SM-25-119	529151	5166725	306	325	-46	51	Outside of Main Zone
SM-25-120	529131	5166706	305	307	-60	51	14.5	24.5	10.0	5.11
(Incl)							19.5	24.5	5.0	10.02
(Incl)							22.5	23.5	1.0	40.90

 

"These results are confirming continuity for Gold Lens 1, a relatively high-grade, discrete gold bearing geological structure found in place near to the old mine workings of the past producing North Pit Gold Mine on Canuc's 100% owned East Sudbury Project (ESP)," stated Christopher Berlet, President & CEO of Canuc Resources Corp.

"Our next objective will be to calculate a resource for this Gold Lens 1, which will lead to evaluating an extractive opportunity. We believe there remain multiple additional gold lenses across the property that will be identified proximal to the trend of historical gold mine workings. We also believe there is high prospectivity for uncovering a larger source model that will transform our appreciation for the potential metal endowment of the area. These high-grade drill results represent early confirmation for our updated geological models."

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

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 Corporation

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 B.A.Sc. (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/276372

FAQ

What assay results did Canuc report for Gold Lens 1 at East Sudbury (CNUCF) on December 1, 2025?

Canuc reported SM-25-120: 10.0 m @ 5.11 g/t Au (14.5–24.5 m), including 5.0 m @ 10.02 g/t Au and 1.0 m @ 40.9 g/t Au.

Does the SM-25-120 intercept at East Sudbury represent true width for Gold Lens 1 (CNUCF)?

Yes; the company estimates the true width at this location is approximately 90% of the reported intersected width.

What are Canuc's next steps for Gold Lens 1 after the December 1, 2025 drill results (CNUCF)?

Canuc plans to calculate a maiden resource for Gold Lens 1 and continue exploration to define continuity and additional lenses across the property.

How extensive is Gold Lens 1 at Canuc's East Sudbury Project (CNUCF)?

The zone is identified over a strike length of about 80 m on surface with observed widths of 3–5 m.

Did any drill holes fail to intersect the main gold zone in Canuc's December 2025 program (CNUCF)?

Yes; SM-25-118 encountered a fault that appears to cut off the zone and SM-25-119 passed outside the main zone.

What is the geological style of Gold Lens 1 at East Sudbury reported by Canuc (CNUCF)?

Canuc describes Gold Lens 1 as a near-surface, relatively high-grade, Fe-chlorite hosted gold-bearing zone that daylights near old North Pit workings.