Canuc completes gold assay verification at East Sudbury

Executive Summary

• Canuc Resources Corp. completed a gold assay verification program on historical drill core and reject samples from its East Sudbury Project (ESP), confirming the accuracy of previously reported gold grades.
• The verification involved 85 samples from 17 holes, showing strong correlation between original and duplicate assays for samples under 5 g/t Au, with acceptable statistical variance for higher-grade samples.
• The company plans to pursue development of high-grade gold lenses near the abandoned Scadding mine workings and is planning further exploration to test an IOCG (Iron Oxide Copper Gold) deposit hypothesis.

Key Details

• Verification Scope: The program analyzed reject material from historical drilling programs by Trueclaim Exploration Inc. (2009-2011), Northern Sphere Mining Ltd. (2017), and MacDonald Mines (2019-2025).
• Sample Statistics: 85 samples from 17 holes, plus seven certified reference materials and six blank duplicates, were submitted to Activation Laboratories Ltd. (Actlabs).
• Assay Correlation:
  • Samples < 5 g/t Au showed very strong correlation between original and duplicate assays.
  • Samples > 5 g/t Au showed higher variability due to coarse gold distribution.
  • Average value of 85 reject samples: 3.92 g/t Au vs. original average of 3.82 g/t Au.
  • Average value for 18 samples > 5 g/t Au: Original 12.64 g/t Au vs. Reject 13.35 g/t Au.
• Methodology Adjustments: Future assaying will use a larger sample size (50g vs. 30g). Initial results > 5 g/t Au will be reassayed using the coarse metallic screen method to account for non-uniform distribution of coarse gold particles.
• Geological Observations: Coarse visible gold was present in all drill core sections with values exceeding 5 g/t Au.
• Future Plans: Management intends to quantify and pursue development of high-grade gold lenses near the Scadding mine workings and conduct exploration to test the hypothesis of an IOCG metal endowment.

Notable Quotes

• "This important work confirms the extensive records for gold mineralization in the high-grade gold system of the Scadding gold mine and surrounding claims. Our next step will be to further quantify, and then to pursue development of, the high-grade gold lenses, which are located near to the abandoned gold mine workings found across the property." — Christopher Berlet, President and CEO
• "Perhaps more importantly, we have now also secured the confirmation we sought to pursue more expansive geological models. These models include the prospect of the Scadding gold mine system and surrounding gold deposits having been generated from, and being located proximal to, a classic IOCG-deposit-type gold metal endowment. Further exploration work to test this exciting and transformational hypothesis is now being planned for the project," — Christopher Berlet, President and CEO