CDA Canuc Resources Corporation

TSX Venture Exchange Symbol: CDA Shares Outstanding: 59,735,798 TORONTO, Oct. 21, 2011 /CNW/ - Canuc Resources Corporation (Canuc or the Company) intends to raise $500,000 in a non-brokered flow-through private placement priced at $0.25 per flow-through common share. Pursuant to regulatory requirements, the common shares issued will be subject to a four-month hold. The proceeds of the financing will be used to fund the Company's exploration program on the Mill Village gold property located near Liverpool, Nova Scotia. The closing of the financing is subject to the approval of the TSX Venture exchange. The Mill Village gold property consists of 31 contiguous claims totalling 501.8 hectares and is located approximately 13 km southwest from the town of Liverpool Nova Scotia, Canada. The property is accessible by paved all weather road and is proximal to mining infrastructure and services that will be required. More importantly, the property has seen previous production, hosts numerous gold occurrences including significant drill hole intersections and has a ventilation shaft and underground workings which were dewatered and rehabilitated in 2001. About Canuc Canuc is a junior mining exploration company with its principal properties located in Ecuador and Nova Scotia.  Canuc's main holding 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. Forward-Looking Statements This news release contains forward-looking statements that include risks and uncertainties. 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 statements. The forward-looking statements are based on current expectations and apply 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 statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Annual Reports. Canuc Resources Corporation CONTACT: Gary Lohman, President & Hubert Mockler, ExecutiveCEO Vice Chairman416-867-1300 416-416-867-1300glohman@canucresources.ca hmockler@canucresources.ca

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