Canuc Resources Corporation - $500,000 Flow-Through Financing

    




 TSX Venture Exchange Symbol: CDA Shares Outstanding: 59,735,798 

 TORONTO, Oct. 21, 2011 /CNW/ - Canuc Resources Corporation (Canuc or the  Company)  intends to raise $500,000 in a non-brokered  flow-through private placement priced at $0.25 per flow-through common  share. Pursuant to regulatory requirements, the common shares issued  will be subject to a four-month hold. The proceeds of the financing  will be used to fund the Company's exploration program on the Mill  Village gold property located near Liverpool, Nova Scotia. 

 The closing of the financing is subject to the approval of the TSX  Venture exchange. 

 The Mill Village gold property consists of 31 contiguous claims  totalling 501.8 hectares and is located approximately 13 km southwest  from the town of Liverpool Nova Scotia, Canada. The property is  accessible by paved all weather road and is proximal to mining  infrastructure and services that will be required. More importantly,  the property has seen previous production, hosts numerous gold  occurrences including significant drill hole intersections and has a  ventilation shaft and underground workings which were dewatered and  rehabilitated in 2001. 

 About Canuc 

 Canuc is a junior mining exploration company with its principal  properties located in Ecuador and Nova Scotia.  Canuc's main holding is  an approximate 85% interest in the Nambija Gold deposit located in  south-eastern Ecuador.  According to records obtained from the Central  Bank of Ecuador, it is estimated that, to date, nearly 3 million ounces  of gold have been produced using the most primitive of mining and  milling recovery processes from the Nambija area. 

 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 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. 

Canuc Resources Corporation


CONTACT:  Gary Lohman, President &                         Hubert Mockler, ExecutiveCEO                                              Vice Chairman416-867-1300                                     [e-mail]                        [e-mail] 


    

Copyright