Canuc Resources reports 25.60 g/t gold intersected at Nambija, Ecuador

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

TORONTO, Nov. 11 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") is pleased to report on recent underground sampling conducted at Nambija, Ecuador.

As previously reported, underground channel sampling is underway at Nambija in accessible drifts in order to increase our geological knowledge and better define the boundaries of the mineralization. To date, approximately 700 samples have been collected along the eastern El Tierrero structure which has been defined on the property for a length of 450 metres and a minimum width of 50 metres. To assist in modeling the surface, drilling and underground data, the drifts selected for study cover a vertical range of approximately 35 - 40 meters with samples collected at approximately 10 meter intervals from both walls and the back (roof) of the drift.

Results to date continue to be encouraging with both copper and silver appearing more widespread and higher grade than returned in the drilling. As mentioned in an earlier release, the sample results further indicate that some apparent trends in the higher grade gold mineralization, both to the northeast and northwest, exist at El Tierrero and need to be investigated further.

In the southern portion of El Tierrero, channel sampling continues to locate discreet zones of gold mineralization, most recently east of the main El Tierrero structure where samples UG0387, UG0388 and UG0389 returned 4.5, 9.6 and 11.4 g/t gold respectively. These results provide further evidence supporting the concept of a parallel structure east of the main El Tierrero trend.

In the central portion of the El Tierrero structure, both north and east of the Audaces pit, recent underground results indicate that an apparent northwest trending structural control may influence the occurrence of the gold mineralization. Gold assays along this trend range from less than 1.0 g/t gold to 25.6 g/t gold with a distinct clustering of results at approximately 70 - 80 meters east of the Audaces Pit. In many of the locations identified, elevated copper and / or silver is also present. The copper generally ranges from 0.15% to 0.25% with local clusters assaying greater than 0.25% copper. Where these clusters are identified, closer spaced sampling and / or drilling will be conducted.

Select Assays are shown below:

    
    Sample No.        Width (m.)      Copper %        Silver g/t    Gold g/t
    -------------------------------------------------------------------------
    UG0634               1.0            0.26             3.1          10.890
    -------------------------------------------------------------------------
    UG0635               1.0            0.21             2.0           8.645
    -------------------------------------------------------------------------
    UG0636               1.0            0.05             2.0           0.649
    -------------------------------------------------------------------------
    UG0637               1.0            0.14             3.8          25.600
    -------------------------------------------------------------------------
    UG0638               1.0            0.06             0.5           0.541
    -------------------------------------------------------------------------
    UG0639               1.0            0.11             1.9           8.082
    -------------------------------------------------------------------------
    UG0640               1.0            0.11             0.5           0.535
    -------------------------------------------------------------------------
    

Samples were submitted to Acme Analytical Laboratories in Cuenca, Ecuador, for preparation and shipping to Vancouver, B.C., for final analysis. Assaying for gold was conducted using standard fire assay on a 30-gram (one assay ton) sample with an ICP-ES finish procedure. Copper and silver analyses were completed using an ICP-MS procedure. Standards, blanks and check assays were included at regular intervals in each sample batch. Gold standards and certified blanks were obtained from CDN Resource Laboratories Ltd.

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