Canuc Resources Corporation Grants Incentive Stock Options

    
    TSX Venture Exchange Symbol: CDA
    Shares Outstanding: 43,004,598
    

TORONTO, June 29 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") announces that it has granted options to certain employees, officers and directors of the Company entitling them to purchase an aggregate of 1,600,000 common shares of the Company, pursuant to the Company's Stock Option Plan approved by the shareholders. Each option entitles the holder thereof to purchase one common share at a price of $0.25 per common share for a period of three years.

Under the Company's stock option plan, a maximum of 10% of the issued shares of the Company at any time may be reserved for issuance at the time of the stock option grant. Of the 1,600,000 incentive stock options granted today, 1,500,000 were granted to replace that same number of options that expired on June 27 at the same exercise price of $0.25.

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 southeastern 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.

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]