Toronto, Ontario--(Newsfile Corp. - October 12, 2017) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") reports high grade silver and gold assays from recent sampling of underground workings and from the Carranza breccia zones exposed on surface, nearby.

A 3-D modeling exercise indicates a concentration of higher grade silver and gold results in underground workings either side of a north-south fault that cross cuts the Santa Rosa mine workings. A program of check sampling was recently carried out to confirm and extend these high grade results along the Polvorin level located west of this fault.

The north-south fault that intersects the Santa Rosa Vein (SRV) trend is deemed to be geologically important as a carrier for silver and gold mineralization. It has been recently recognized that the Carranza and Cerro Colorado breccia zones, which manifest on surface, lie at the intersections of the north-south faults and the NE-SW SRV trend. There are at least four such north-south faults that cross the property.

In addition, the Company has taken some check samples from the Carranza breccia zone located about 500 meters north of the Santa Rosa mine workings. Table 2 shows six samples that were taken as check duplicates, located within an 11.0 m composite sample that averaged 238 g/t Ag (press release, April 13, 2017.)

The phase 2 exploration program has started. Road construction, trenching and drill platform preparation have been completed and surface mapping and sampling are ongoing. The focus is on the breccia zones found at the intersections of the two fault trends. A link showing these breccia targets along the mineralized corridor can be seen here:

http://canucresources.ca/wp-content/uploads/2017/06/SAN-JAVIER-PROMO-1.jpg

"The company is very pleased with results attained to date. High grades have been confirmed throughout all drill holes for the Santa Rosa Vein and a number of new en echelon high grade structures have been detected. Management also is confident that the Santa Rosa Mineralized Corridor will yield several bulk tonnage breccia targets in the central and northeastern parts of the property, which will provide a powerful new dynamic to project valuation prospects." stated Hub Mockler, Executive Chairman.

Table 1, following, sets out assays obtained from recent underground sampling on the Santa Rosa Vein. These samples were taken close to the north-south fault contact and at right angles to the vein over a strike length of approximately 50 meters.

Table 1. Results From High Grade Zone, Polvorin Level

Table 2. Check Samples at Carranza Breccia Zone

QA/QC

The Company has introduced two different sample standards and one sample blank into the sample stream at intervals that average approximately 1 per 10 samples. Samples were collected at the Company's field office in San Javier, Sonora in a secure environment. The samples were transported by Company personnel to Bureau Veritas' prep laboratory in Hermosillo, Sonora, where one split was analyzed for gold by fire assay/atomic absorption finish, and a pulp from this split was flown to Vancouver for analysis by multi-element ICP techniques. All over limit results for Ag, Cu, Pb and Zn obtained by ICP were further analyzed by specific techniques (atomic absorption, gravimetric).

About Canuc

Canuc is a junior resources company whose principal focus is exploration and development of the San Javier Silver-Gold Project located 146 km east of Hermosillo in Sonora State, Mexico. The company also generates cash flow from natural gas production in Central West Texas, where Canuc has an interest in nine producing gas wells, and has rights for further in field developments.

John Nebocat, BSc (Geological Engineering), P.Eng, Vice President Exploration for Canuc, is the Qualified Person for the Company, as defined by NI 43-101, and has reviewed and approved the contents of this press release.

Disclaimer and Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. 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 statements. The forward-looking statements are based on current expectations and apply 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 statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company's annual financial statements and MD&A.