TSX Venture Exchange
Shares Outstanding: 62,535,798
TORONTO, Feb. 13, 2012 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") (TSXV: CDA) is pleased to report that the Minerals Registry Branch of the Department of Natural Resources, Nova Scotia has confirmed that the Company has acquired 863 mining exploration claims in the Meguma Terrane of Southwestern Nova Scotia. The claims cover an area of approximately 140 square kilometres in three areas known as Little Lake Brook, Sable River and Jordan Falls. The mining exploration claims are located north of Shelburne and due west of Liverpool along the southern extension of the Pleasantville anticline, a structural feature that hosts the Company's current Mill Village exploration project to the north.
Previous exploration work in these areas is limited. Exploration on these new claims will commence in 2012 in conjunction with the work presently being conducted at the Company's Mill Village exploration project.
"We believe the Southwestern Meguma Terrane holds potential for bulk mineable gold deposits similar to those being evaluated in the eastern portions of the Terrane by Atlantic Gold NL and Acadian Mining Corporation. Phase 1 work on Canuc's Mill Village property is currently ongoing and is focused on identifying similar bulk tonnage potential to complement the known, narrow vein, high grade occurrences on the property. Results are expected from the Phase 1 program within the next several weeks."
Mr. Bruce Hudgins, P. Geo is the Qualified Person pursuant to National Instrument 43-101 for this press release and has reviewed and approved the technical and scientific disclosure contained herein.
Canuc is a Canadian based exploration Company focused on identifying and developing mineral projects in the Americas. The Company has been carefully assessing and acquiring assets in Nova Scotia, Canada and Texas, USA to complement its Ecuadorian mineral assets. Management considers that these projects currently offer a particularly favourable environment for mineral exploration and development. The Company intends to continue to acquire quality precious metal projects in the Americas. Management of the Company has a proven record of discovery, resource expansion, permitting and developing projects through to production.
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.
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 Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations 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 Annual Reports.
For further information:
Gary Lohman, President & CEO
Chris Chadder, CFO