Announcement • 8h

Canuc Resources Corporation Discovers New Near-Surface Gold Zone At East-West Pit Area Zone 2 At East Sudbury Project

Canuc Resources Corporation announced the discovery of a new near-surface gold-mineralized zone – the East-West Pit Area Zone 2 (“Zone 2”) – at the Company’s 100% owned East Sudbury Project (“ESP”) located some 20 km east of Sudbury, Ontario. Ten (10) holes drilled into the Zone 2 target area have intersected mineralized breccia, and this new zone has been traced over a strike length of approximately 170 meters. Zone 2 is a previously unrecognized, north-dipping gold-mineralized breccia zone lying immediately adjacent to the historically mined East-West Pit at the past-producing Scadding Gold Mines and has been traced over approximately 170 metres of strike to date. To date ten (10) holes drilled into Zone 2 have intersected the targeted chlorite breccia zone, over interpreted true thicknesses of 3 to 15 metres. These holes have been drilled on approximately 25 metre spacings. Gold mineralization has been intersected from as shallow as 3.5 metres downhole in SM-26-151. Five grab samples of pit material collected in 2025 averaged 6.72 g/t Au, ranging from 0.738 to 14.3 g/t Au. SM-26-153 returned 20.0 metres grading 1.51 g/t Au, including 5.0 metres of 3.78 g/t Au; SM-26-151 returned 8.0 metres of 1.21 g/t Au, including 1.0 metre of 7.58 g/t Au; SM-26-152 returned 19.9 metres of 0.56 g/t Au, including 1.0 metre of 3.2 g/t Au; and SM-26-160 returned 4.0 metres of 1.28 g/t Au together with 1.0 metre of 4.29 g/t Au. Four of the ten holes (SM-26-155, SM-26-158, SM-26-159 and SM-26-161) returned only weakly elevated gold values, and SM-26-156 returned 14.0 metres grading 0.102 g/t Au. Zone 2 has been tested to vertical depths of only 50 to 75 metres along an east-west trend and remains open to the north. Historical drilling by a previous operator intersected gold mineralization in this setting at vertical depths of approximately 85 and 110 metres. Four (4) additional holes have been completed at the western end of the pit area, testing mineralization interpreted to be offset along a regional-scale fault. Results are pending. The Company intends to include Zone 2 in the first (maiden) mineral resource estimate for ESP, which is currently expected to be released later in 2026. Canuc receives revenue from eight (8) producing natural gas wells at its MidTex Energy Project in West Texas and holds a 4% net smelter royalty on gold production from the Scadding Gold Tailings Project. The Company has not established any mineral resource or mineral reserve on the ESP property, and there is no certainty that all or any part of the mineralization identified to date will be converted into a mineral resource or that any deposit will be economically viable. ESP spans 20,078 hectares and is centered approximately 20 kilometers northeast of the Prolific Sudbury Mining District. ESP encompasses four subparallel fault structures which host historical gold and copper mines, and which are interpreted to be related to mineral systems that can form IOCG and affiliated critical and precious mineral deposits. Mineral prospective zones adjacent to these fault structures are labelled: Timmins Creek Fault Zone, McLaren Lake Fault Zone, Mount Aetna Fault Zone and Washigami Lake Fault Zone respectively. Along the ESP property’s furthest west fault structure, Timmins Creek Fault, are found the historical mine workings of the Scadding Gold Mines (North Pit, Underground Portal, South Pit and East-West Pit). The Glade Area ‘Exploration’ Zones and the Scadding Mine Gold Tailings Impound are located approximately 1 km southwest and south of the historical Scadding Gold Mines. Other Au-Co-Cu occurrences occur along this interpreted structure (Timmins Creek Fault) including a strong breccia zone and highly anomalous Co-Au mineralization identified by Canuc in 2025 at Spar Lake, 3 km northwest of the Scadding Mine Workings. Canuc has now completed a first phase of drilling on a newly identified zone at the East-West Pit Area, now being referenced as the East-West Pit Area Zone 2. Zone 2 is thought to be the down dip projection of mineralization identified by Gulf Minerals in 1973 that led to the historical gold resource estimates for the East-West Pit made by the Watt-McLean group (1979; 1981). This historical gold resource was updated and modified in 1983 for Northgate Exploration Limited (Hill, Goettler and Delaporte, 1983). The 1983 historical estimate for the East-West Pit was 25,600 short tons grading 0.225 ounces gold per short ton (approximating to 23,224 tonnes grading 7.03 g/t Au). This estimate was classified as open pit “diluted indicated and diluted inferred reserves”. The estimate applied a 1:1 waste-to-ore dilution ratio and had a cut-off grade of 0.08 oz/ton (2.74 g/t) Au. Under current definition standards and with appropriate, validated data this mineralized zone would best be considered an Inferred Mineral Resource. The historical estimate predates NI 43-101 and uses terminology that is not consistent with current CIM Definition Standards. A Qualified Person has not completed sufficient work to classify the historical estimate as a current mineral resource or mineral reserve, and the Company is not treating the historical estimate as a current mineral resource or mineral reserve. The estimate should not be relied upon as representing mineralization remaining in the ground and may have been materially depleted by historical mining. Canuc considers the historical estimate relevant only as evidence of the location and historical significance of mineralization in the East–West area and as a guide for current exploration. Verification would require reconstruction of the historical pit, confirmation of collar and survey information, direct validation of assays and density data, confirmation drilling, and modern three-dimensional geological and resource modelling. In 1984, Westfield Minerals (Northgate subsidiary) began test-mining small open pit deposits in the Scadding Mine area while developing the main underground Scadding Mine. This included the East-West Pit where a 100 m long, 5 to 8 m deep open cut was driven into the surface exposure of a 10 m wide mineralized zone. The tonnage extracted from this pit is unknown.

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