Canuc To Issue Shares for Debt

Toronto, Ontario--(Newsfile Corp. - April 7, 2015) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") announces that it intends to enter into a non-arm's length shares for debt transaction (the "Transaction") to settle an aggregate of $60,000 in outstanding debt (the "Debt") owed to 1140205 Ontario Inc. for past services rendered. Subject to approval of the TSX Venture Exchange, the Company intends to issue an aggregate of 1,200,000 common shares at a deemed price of $0.05 per common share to 1140205 Ontario Inc. in full satisfaction of the Debt.

The shares issued to 1140205 Ontario Inc. will be subject to a four month hold, which will expire on August 8, 2015.

1140205 Ontario Inc. is Gary Lohman's private consulting company. As previously announced, Mr. Lohman resigned as President and CEO of Canuc effective September 30, 2014 in order to pursue other opportunities. Mr. Lohman remains a member of the Board of Directors of the Company.

This Transaction will not result in the creation of a new Control Person.

About Canuc

Canuc is a junior natural resource company that is active in the oil and gas sector in Texas and will be expanding its activities in 2015.

For Further Information:

Hub Mockler, Chairman & CEO
416-867-1300

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 prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced 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 the Company's annual financial statements and MD&A.