Canuc Closes Private Placement Tranche

Toronto, Ontario–(Newsfile Corp. – April 1, 2025) – Canuc Resources Corporation. (TSXV: CDA) (OTCQB: CNUCF) (“Canuc” or the “Company”) announces closing of the first tranche of its previously announced private placement financing (see press releases March 26, 2025, March 7, 2025, and February 13, 2025) with gross proceeds of $2,270,000 and the issuance of 22,700,000 Units. Each Unit consists of one common share (“Common Share”) priced at $0.10 per share, and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at $0.15 for a period of two years from the final closing date of the private placement. All securities sold in the private placement are subject to a hold period of 4 months and one day.

Proceeds will be used for expenses associated with completing the acquisition of MacDonald Mines Exploration Ltd. and for the exploration and development of the Company’s new and existing exploration and development assets.

The private placement is subject to final acceptance by the TSX Venture Exchange.

About MacDonald Mines Exploration Ltd.

Founded in 1935, MacDonald Mines Exploration Ltd. is a mineral exploration company focused on the evaluation, acquisition, and development of precious and critical metals properties in Ontario. The company’s flagship project, the 100% owned SPJ Project, spans 19,710 hectares and is 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. Minerals of interest on SPJ include copper (Cu), gold (Au), cobalt (Co), nickel (Ni) and rare earth elements (REE). MacDonald Mines Exploration Ltd. is committed to responsible and sustainable operations, prioritizing environmental stewardship, safety, and community engagement.

About Canuc

Founded in 1952, Canuc Resources Corporation is a junior resource company focusing on the San Javier Silver-Gold Project in Sonora State, Mexico. The San Javier Silver-Gold Project evidences 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
Chris Berlet: (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 each of Canuc and/or MacDonald Mines (collectively, the “Corporations”) believes, expects or anticipates will or may occur in the future including the Corporations respective strategy, plans or future financial or operating performance, and including statements regarding the completion of or the benefits of the Transaction and the Arrangement.

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. Factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporations respective annual financial statements, MD&A and other publicly filed documents.
The Corporations caution 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. There is Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporations do 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.