15.54 g/t Au Intersected at Nambija

TSX Venture Exchange

Symbol: CDA

Shares Outstanding: 43,004,598

TORONTO, Aug. 4 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company")TSXV: CDA is pleased to report that additional assays have been received from drill holes in the El Tierrero (ET) Zone on the Nambija project in Ecuador. Drill hole N10 - 003, intersected geochemically anomalous gold between 1.52 and 15.60 meters averaging 1.158 g/t Au. At a depth of 196.30 meters, the drill hole intersected a 1,0 meter section of metasediment assaying 15.54 g/t Au. This further confirms the presence of gold at depth in the system as demonstrated by Placer Dome drill hole PD-002 which returned a 2 meter intersection assaying 147 g/t gold and 46 g/t silver at a vertical depth of approximately 160 meters below the collar.

In drill hole N10 - 004, gold mineralization is also present in the upper portion of the drill hole with anomalous values encountered to a depth of 41.0 meters.

The results for drill holes N10 - 003 and N10 - 004 have been returned and are summarized below.

    
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    Drill Hole No.     From (m.)      To (m.)     Width (m.)     Gold g/t
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    N10 - 003             1.52         15.60         14.08        1.158
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                        196.30        197.30          1.00        15.54
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    N10 - 004             0.80          1.52          0.72        5.375
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                          1.52          3.04          1.52        3.005
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                          3.04          4.00          0.96        3.457
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                          4.00          4.57          0.57        2.843
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                          4.57          5.50          0.93        3.361
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                          5.50          6.40          0.90        1.202
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Due to the presence of coarse nuggety gold as well as abundant, very fine "flour" gold near the collars of drill holes N10 - 002, N10 - 003 and N10 - 004, metallic screen fire assaying is being conducted on select pulps and rejects to ensure that the gold is being represented in the assays. Two bulk samples (20 kg. each) have also been collected from a large pit in this area and the material coned and quartered to check both the size fraction of the gold plus the distribution of the gold within the host rock.

To better define the mineralization along the ET trend, underground channel sampling is being conducted in areas where accessible on a 10 meter grid with samples collected on both walls.

As in many gold systems, copper and silver are also present and locally occur proximal to the gold mineralization. At Nambija, we have intersected significant copper and silver mineralization in numerous drill holes.

Further to Canuc's press release dated July 5, 2010 announcing that it has entered into an investor relations agreement with Investor Cubed Inc. of Toronto, the options granted to Investor Cubed for 350,000 shares at $0.25 per share are for a period of one year.

The exploration program at Nambija is being carried out under the supervision of Gary Lohman, P. Geo., a Qualified Person as defined under the terms of National Instrument 43-101, and he has reviewed and approved the contents of this press release.

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.

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.

For further information: Ken Murton, Chairman, 416-920-2748, [email protected]; Hub Mockler, President & CEO, 416-867-1300, [email protected]; Investor Cubed Inc.: Neil Simon, Telephone: [phone], Fax: [phone], E-mail: [email protected]