“This financing represents an important milestone for Canuc and provides us with the capital to advance two complementary initiatives simultaneously at our 100%-owned East Sudbury Project,” stated Christopher Berlet, CEO.

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.

The comprehensive survey program will cover close to 2,000 line-kilometres giving Canuc one of the most detailed subsurface pictures ever compiled on the project.

Canuc believes this will make its shares more accessible to U.S. investors, broadening the shareholder base and improving liquidity.

Canuc will follow up promptly on the targets that result from this work.