Canuc Resources Corporation Raises $100,000 in Flow-Through Private Placement Financing

www.canucresources.ca

FOR IMMEDIATE RELEASE TSX Venture Exchange December 31, 2010 Symbol: CDA Shares Outstanding: 43,504,598

Canuc Resources Corporation Raises $100,000 in Flow-Through Private Placement Financing

TORONTO, ONTARIO – Canuc Resources Corporation (“Canuc” or the “Company”) (TSX Venture: CDA) today announced that it has raised $100,000 in the first tranche of the non-brokered flow-through private placement financing (the “Financing”). The Company has issued 500,000 common shares at $0.20 per share and issued 250,000 common share purchase warrants exercisable at $0.25 for a period of 18 months. The common shares issued will be subject to a four-month hold period expiring May 1, 2011. The proceeds of the Financing will be used to fund the Company’s upcoming exploration program in the province of Nova Scotia.

A commission of 8% cash and 8% broker warrants was paid on gross proceeds.

About Canuc

Canuc is a junior mining exploration company with its principal properties located in Ecuador. Canuc’s main holding today is an approximate 85% interest in the Nambija Gold Mine 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.

For Further Information:

Hub Mockler, President & CEO Ken Murton, Chairman 416-867-1300 416-920-2748 [email protected] [email protected]

Investor Cubed Inc.:

Neil Simon Telephone: (647) 258-3311, (888) 258-3323 Fax: (416) 363-7977 E-mail: [email protected]

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.

402 – 121 Richmond Street West Phone: (416) 867‐1300 Toronto, ON, M5H 2K1, Canada Fax: (416) 867‐9933