Mr. Christopher Berlet reports
CANUC ENGAGES VERUM MINING CONSULTANTS FOR EAST SUDBURY PROJECT (ESP)
Canuc Resources Corp. has entered into a master service agreement with Verum Mining Consultants Ltd. to support advancement of the company's East Sudbury project.
Under the agreement, Verum will provide technical consulting services to the company through individually scoped work programs designed to support the continuing evaluation and advancement of the project. The initial scope of work is expected to include calculation of a mineral resource for the company's gold Lens 1 gold inventory, conceptual mine planning and scheduling, and support for permitting.
The engagement of Verum represents a significant milestone in the continued advancement of the East Sudbury project. The Verum team, comprising experienced mining engineers, reflects Canuc's commitment to progressing the project through disciplined technical evaluation and development planning.
The conceptual mine planning, scheduling and permitting support work contemplated under the agreement are conceptual in nature, and are not intended to constitute a preliminary economic assessment, prefeasibility study or feasibility study as defined by National Instrument 43-101.
Chris Berlet, chief executive officer of Canuc Resources, commented:
"The engagement of Verum mining engineers marks an important step in advancement of the East Sudbury project. The technical expertise and experience evidenced by the Verum team will strengthen our ability to evaluate mine development opportunities around the past-producing Scadding gold mines. Verum's work will provide us with the technical foundation necessary to evaluate the potential of the gold lenses now being drilled across the project."
Maurice Mostert, managing director of Verum, commented:
"We are pleased to be working with Canuc on the East Sudbury project. Our objective is to provide technically rigorous and practical support that assists the company in advancing the project through systematic evaluation, planning and permitting initiatives."
The initial study program is expected to support the continued development of the company's geological and technical understanding of the project, including mineral resource evaluation, conceptual mine planning and consideration of permitting pathways. The company believes these initiatives represent important steps toward assessing potential future development opportunities at the East Sudbury project and in particular around the past-producing Scadding gold mines.
About Verum Mining Consultants Ltd.
Verum Mining Consultants is a mining consulting firm providing engineering and technical services across the mining project life cycle, including resource evaluation, mine planning, engineering support and permitting advisory services.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by Maurice Mostert, PEng, managing director of Verum Mining Consultants, who is a qualified person as defined by National Instrument 43-101.
About Canuc Resources Corporation
Canuc Resources is a junior resource company developing its 100-per-cent interest in the East Sudbury project (ESP), which spans 20,078 hectares, and is centred approximately 20 kilometres northeast of the prolific Sudbury mining camp and near to the extensive infrastructure of the adjacent Sudbury mining district. ESP encompasses several centres of critical and precious metal mineralization interpreted to be related to a mineral system that can form IOCG (iron oxide, copper and gold) 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-per-cent 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, where Canuc has an interest in eight producing natural gas wells and has rights for further in field developments. The company also receives a 4-per-cent net smelter royalty from gold production at the Scadding gold tailings project, located on mining claim LEA 107735 within the ESP property group.
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