Canuc Drills 1.0 m of 32.1 g/t Au within an 11.5 m Interval of 3.18 g/t Au near Surface in Gold Lens 1
March 18th, 2026
Toronto, Ontario – March 18, 2026 - Canuc Resources Corporation (“Canuc” or the “Company”) (TSX-V: CDA, OTCQB: CNUCD, WKN: A41V6H) is pleased to announce results for 15 holes of a diamond core drilling program defining Gold Lens 1 on the Company’s 100% owned East Sudbury Project (ESP). The results from 3 holes were previously released (Company press release December 1st, 2025).
Gold Lens 1 is located approximately 120 m north of the underground workings of the past producing Scadding Gold Mine. At least 147 historical drill holes have been reported to have tested Gold Lens 1. The drill core for 62 of these holes is stored on-site and the collar locations as well as the analytical, logging and other technical information for these holes has been verified and is considered reliable.
Three holes were collared on the west and south boundaries of the zone and defined the limits of the zone in these directions. Two holes were collared on the south side of the NE plunging mineralized zone and drilled beneath the keel. One hole intersected a diabase dyke that cuts across the projected target zone, and one hole was lost in overburden.
The objective of this drill program was to define the outside boundaries of Gold Lens 1 and to add infill holes within the mineralized zone. Gold Lens 1 begins on surface and dips at approximately 45 degrees and plunges 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 and has been intersected by drill holes below a depth of 100 m.
The information from this drilling program is being integrated with relevant data from previous drilling programs in Gold Lens 1 in order to refine a block model of the zone and to assess the potential tonnages of a near surface, relatively high-grade, gold bearing Fe-Chlorite zone. The zone is open down plunge where additional drilling is still being considered.
The location, purpose and results from these 15 holes are outlined in Table 1.
Table 1.
| Drill Hole Id. | Easting | Northing | Elevation | Azimuth | Dip | Depth | From (m) | To (m) | Width (m) | Au (g/t) |
|---|---|---|---|---|---|---|---|---|---|---|
| SM-25-121 | 529121 | 5166703 | 306.6 | 300 | -65 | 51 | Outside the boundary of Main Zone | |||
| SM-25-122 | 529116 | 5166691 | 307 | 225 | -45 | 51 | Outside the boundary of Main Zone | |||
| SM-25-123 | 529114 | 5166697 | 306.5 | 300 | -65 | 48 | 19.6 | 24.6 | 5.0 | 3.00 |
| (Incl) | 19.6 | 20.6 | 1.0 | 12.00 | ||||||
| SM-25-124 | 529233 | 5166676 | 317 | 245 | -55 | 117 | Drilled beneath keel of zone | |||
| SM-25-125 | 529284 | 5166732 | 313 | 295 | -55 | 101 | 35.0 | 38.0 | 3.0 | 6.89 |
| SM-25-126 | 529252 | 5166655 | 315 | 295 | -55 | 18.7 | Hole lost in overburden | |||
| SM-25-127 | 529140 | 5166656 | 314.8 | 325 | -46 | 66 | * 11.4 m intersection – Pending QA/QC | |||
| SM-25-128 | 529124 | 5166617 | 313 | 300 | -45 | 66 | Drilled beneath keel of zone | |||
| SM-25-129 | 529158 | 5166634 | 313 | 300 | -45 | 81 | 45.0 | 51.0 | 6.0 | 2.51 |
| (Incl) | 50.0 | 51.0 | 1.0 | 6.59 | ||||||
| SM-25-130 | 529102 | 5166641 | 310.2 | 300 | -45 | 51 | Outside the boundary of Main Zone | |||
| SM-25-131 | 529109 | 5166656 | 657 | 300 | -45 | 46.3 | 8.4 | 17 | 8.6 | 0.32 |
| (Incl) | 15.5 | 16 | 0.5 | 4.75 | ||||||
| SM-25-132 | 529110 | 5166656 | 309.6 | 330 | -45 | 51 | 4.9 | 16.4 | 11.5 | 3.18 |
| (Incl) | 5.8 | 6.8 | 1.0 | 32.10 | ||||||
| SM-25-133 | 529163 | 5166682 | 306.5 | 300 | -45 | 13.0 | 21.0 | 8.0 | 1.29 | |
| (Incl) | 13.0 | 14.0 | 1.0 | 9.63 | ||||||
| SM-25-134 | 529165 | 5166681 | 306.5 | 300 | -65 | Intersected diabase dyke | ||||
| SM-25-135 | 529180 | 5166713 | 306.8 | 240 | -45 | 43.0 | 54.6 | 11.6 | 0.40 | |
| (Incl) | 49.0 | 50.0 | 1.0 | 1.38 | ||||||
* Failed QA/QC – being re-assayed
“These results confirm continuity for Gold Lens 1 as a discrete, relatively high-grade gold bearing geological structure which starts on surface 120 m north of the past producing Scadding Gold Mine,” stated Christopher Berlet, President & CEO of Canuc Resources Corp.
“Our next step will be to complete the engineering required to evaluate the extractive opportunity represented by this high-grade Gold Lens 1.”
“We are now pursuing two simultaneous objectives on the company’s 100% owned East Sudbury Project (ESP) which covers almost 200 km2 on the eastern flank of Canada’s leading mining jurisdiction, the Sudbury Basin.”
“Firstly, we are scoping near-term gold production from gold contained in tailings and from the multiple high-grade gold zones which are evidenced in discrete gold lenses coming to surface in the area surrounding the old Scadding Gold Mine workings. Secondly, we are pursuing large scale source deposit discovery with the objective of proving a much larger feeder system deposit model for the high-grade gold and copper mines found across the property.”
“This combination allows us to pursue 100% ownership of large-scale source deposit discovery potential, IOCG deposit types, in Canada’s leading extractive jurisdiction, while also seeking cash flow opportunities in order to minimize shareholder dilution.”
Canuc’s updated website and PowerPoint can be found at: www.canucresources.ca
About Canuc Resources Corporation
Canuc Resources Corporation is a junior resource company developing its 100% interest in the East Sudbury Project (“ESP”) which spans 19,782 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.
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Qualified person
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.
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