Canuc Announces AGM Results and New Director

Toronto, Ontario--(Newsfile Corp. - June 30, 2020) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") is pleased to announce election results for the Annual General Meeting ("AGM") which took place on June 30^th, 2020. During the meeting the following parties were elected as directors of the Company:

1. Christopher Berlet (re-elected)
2. Bruce Reid (re-elected)
3. Paul Davis (re-elected)
4. Marcus Chase (re-elected)
5. Kevin Olson

For compliance reasons, and as a result of his employer's perceived conflicts, Mr. Kevin Olson was unable to accept his appointment as director of the corporation. As a result, the remaining board members have appointed Mr. Christopher Cheng, P.Eng to fill the vacancy.

Mr. Christopher Cheng, P.Eng is a graduate of Mechanical Engineering with a minor in Petroleum Engineering from the University of Calgary (2009) and he is a Professional Engineer registered with APEGA in the Province of Alberta. Mr. Cheng has 10+ years of experience in the upstream oil and gas sector working in the Western Canadian Sedimentary Basin. For the last 5 years Mr. Cheng has been specializing in the development of new and innovative extractive and drilling technologies. In 2020 Mr. Cheng transitioned to the renewable energy sector as Senior Development Engineer with Eavor Technologies Inc., a private geothermal company.

Mr. Hubert Mockler did not stand for re-election to the board. Mr. Mockler has had a long and storied history with the Company and has successfully guided Canuc through many challenging times and market downturns. In the 1990's, and again in the period 2008-2010, Mr. Mockler was integrally involved with the Company's well known Nambija Gold Project located in the Zamora-Chinchipe Province of Ecuador. He was also instrumental in introducing Canuc to the natural gas opportunities currently producing revenue for the Company in West Texas, USA.

Mr. Mockler originally trained and practiced in the geological sciences field and has had a diverse and successful career in capital markets and company management. His contributions to the Company and his efforts for shareholders are greatly appreciated.

About Canuc

Canuc is a junior resource company holding the San Javier Silver-Gold Project in Sonora State, Mexico. The Company generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in eight producing gas wells and has rights for further in field developments. Canuc also has exclusive rights, through a Partnership Agreement with Ioticiti Networks Inc., to sell Industrial IoT applications and infrastructure in the Provinces of Alberta and Saskatchewan, Canada and in the State of Texas, USA.

For further information please contact:

Canuc Resources Corporation.
(416) 525 - 6869
[email protected]

Forward Looking Information

This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.

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 information. The forward-looking information is based on current expectations and applies 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 information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.

The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58905