Recent drilling and underground sampling indicates potential for "porphyry system" at Nambija

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TORONTO, Aug. 26 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") TSXV: CDA is pleased to report on recent underground sampling conducted at Nambija.

As a follow-up to the drilling program, channel sampling has commenced underground in accessible drifts in order to increase our geological knowledge and better define the boundaries of the mineralization. The samples are being collected at approximately 10 meter intervals from both walls and the back (roof) of the drift with the initial focus being along the eastern El Tierrero structure.

Results to date are encouraging with 15 of the first 75 assays returning values greater than 1 g/t gold.  The samples averaged 0.937 g/t gold and ranged from 0.033 to 8.577 g/t gold. The results also indicate that silver is much more widespread than originally thought and can occur with both copper and gold mineralization. The sampling averaged 1.7 g/t silver and ranged from 0.4 to 4.8 g/t silver. As in the drilling, the copper mineralization is also widespread averaging 0.12% with individual assays ranging from 0.02% to 0.46% copper.

Select assays are shown below:

Drill results from holes N10 - 005 and N10 - 006 have been returned. In drill hole N10 - 005, widespread anomalous copper was intersected along with local zones of elevated silver which are presently being re-assayed. The gold values were of a background nature except for some isolated anomalous gold values in the first 13 meters of the drill hole. It should be noted that the last 3.05 meters of drill hole N10 - 005 assayed 0.36 % copper.

Drill hole N10 - 006, intersected extensive skarn alteration including mineral species indicative of gold mineralization.  Due to the findings of our check sampling program, select samples from drill hole N10 - 006 are being re-submitted for gold analysis utilizing the metallic screen fire assay procedure and will be reported when completed.

Analytical results from drilling and underground sampling completed at the El Tierro trend have returned widespread anomalous copper mineralization over significant intervals often accompanied by lower grade gold mineralization. The mineralization is contained within quartz veinlets and stockwork veining that lies below the known skarn zones and is typical of many porphyry type deposits.  The results are being compiled and evaluated and will be reported upon along with the results from the last six holes of the recent drilling program for which assays are not available.

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 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.