Canuc Establishes Independent Review Committee for Scadding Gold Mine
www.canucresources.ca
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FOR IMMEDIATE RELEASE TSX-V: CDA | CNUCF | WKN: A14 ZX4
June 5th, 2025 Shares Outstanding: 265,774,584
ISIN: CA1389093040
Canuc Establishes Independent Review Committee for Scadding Gold Mine
Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) (“Canuc” or the “Company”) is
pleased to announce that the Company’s Board of Directors has established an Operating Conflicts
Independent Review Committee (“IRC”) for reviewing work initiatives relating to development
of the Scadding Gold Mine.
Background
In November of 2022, MacDonald Mines Exploration Ltd. sold 63.9 hectares, including a gold
tailings impound area, from the company’s SPJ Project to Environmental Tailings Corporation
(“ETC”). ETC is a company established to process gold tailings from abandoned gold mines for
commercial benefit, while concurrently completing mine rehabilitation. ETC has constructed a
processing plant for processing gold tailings and is now transporting this plant to the site of the
former Scadding Gold Mine , which is located within the SPJ Project as noted above . The SPJ
Project is now owned by Canuc (see Canuc acquisition of MacDonald Mines Exploration Ltd.
press release May 8th, 2025).
ETC and Canuc have common directors and management . The Independent Review Committee
has been established to confirm independent work practices are adhered to, and the committee
reflects Canuc’s commitment to good governance.
“Processing gold tailings for the recovery of gold is an important first step as we now begin to
consider options for restart ing the Scadding Gold Mine , which is located on Canuc’s recently
acquired SPJ Project. Establishing an Independent Review Committee for reviewing prospective
operating conflicts reflects Canuc’s commitment to good governance and safe and inclusive work
practices,” stated Christopher Berlet, CEO and Director of Canuc.
“The SPJ Project hosts several abandoned gold mines last operated in the 1980’s. Gold recoveries
at the time were sub optimal, leaving meaningful quantities of gold in tailings. As we now consider
options for the restart of the Scadding Gold Mine(s), the processing of gold tailings allows us to
demonstrate enhanced overall gold recovery options, which improves gold mine economics, while
simultaneously improving overall environmental footprint attributes. We look forward to
providing further information as we advance SPJ Project options in the months ahead.”
The Independent Review Committee is comprised of two Canuc Board members, Mr. Kevin Olson
and Mr. Chris Cheng P.Eng. The committee charter requires regular and ongoing review of any
prospective operating conflicts. Both Mr. Olson and Mr. Cheng P.Eng . are independent qualified
members of Canuc’s Board of Directors.
About Canuc Resources Corp.
www.canucresources.ca
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Canuc Resources Corporation is a junior resource company developing its 100% indirectly owned
Scadding, Powerline, Jovan Project (the “ SPJ Project ”), spanning 19,710 hectares situated
approximately 40 kilometers northeast of the Prolific Sudbury Mining Camp and near to the
extensive infrastructure of the adjacent Sudbury Mining District. The SPJ Project encompasses
several centers of critical and precious metal mineralization interpreted to be related to a mineral
system that can form IOCG and affiliated critical and precious mineral deposits. Included within
the Project is the historical Scadding Gold Mine and associated gold mineralized system and gold
bearing tailings.
Canuc Resources Corporation also holds a 100% interest in the San Javier Silver-Gold Project
located in Sonora State, Mexico. The San Javier Silver -Gold Project spans 28 claims covering
1,052 hectares and evidences extensive silver, gold and copper mineralization interpreted to be
related to a mineral system that can form silver dominant IOCG and affiliated deposits.
The company also generates cash flow from natural gas production at its MidTex Energy Project
located in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas
wells and has rights for further in field developments.
Christopher Berlet BSc (Mining), CFA, CEO & Director of Canuc Resources Corp. is responsible
for the content of this press release. For further information, please contact:
Canuc Resources Corporation
(416) 525 – 6869
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