Thompson Lease, Stephens County, Texas Commences Production

    




 TSX Venture Exchange Symbol: CDA Shares Outstanding: 62,535,798 

 TORONTO, Jan. 31, 2012 /CNW/ - Canuc Resources Corporation ("Canuc" or  the "Company")  is pleased to announce that  production has commenced from the first well of the Company's new  Thompson Lease interest located in Stephens County Texas. On January 23(rd), 2012 connection was made to a gas pipeline and metering has begun at  an initial flow rate of 468 McF per day. 

 In August of 2011, Canuc acquired a 20% working interest in the 600 acre  Thompson Lease located approximately two miles south of the Company's  existing wells on the Coody Morales lease. On September 9, 2011, the  first well on the Thompson Lease was completed to a depth of 4120 feet  and successfully intersected the Iona Hickey Formation; a formation  with a prolific production history in this area due to its high  porosity and good permeability. Initial testing of the well resulted in  a flow rate of 900 McF per day under strong pressure indicating the  potential for a substantial, producible reserve. When reserve pressure  has been stabilized, the well will be tested for the presence of  condensates which would result in a premium paid per unit over the  regular posted price for natural gas. 

 This 600 acre lease can accommodate at least an additional five wells  with the same productive capacity making this an important source  of future revenue for the company. Marjac Oil Company Inc., the  operator of this well and our primary consultant in Texas, is currently  reviewing the geology of this new field with the intention of drilling  a second well in the early spring 

 "It is anticipated that with the addition of the Thompson lease, the  Stephen's County energy assets will serve the Company well in  minimizing shareholder dilution while permitting ongoing development of  the Company's gold assets" said Gary Lohman, P.Geo, President  & CEO of  Canuc Resources Corporation. 

 About Canuc 

 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 track record in  discovery, resource expansion, permitting and development of 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. 



Canuc Resources Corporation


CONTACT:  Gary Lohman, President & CEO     Chris Chadder, CFO416-867-1300                     [e-mail]        [e-mail] 


    

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