Mining Stock News - Canuc (TSXV: CDA) Signs Comprehensive Agreement with the Ejido of San Javier
Toronto, Ontario - December 2, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce that the Company's wholly owned subsidiary, Minera Canuc S. de R.L. de C.V., has signed a comprehensive agreement (the "Agreement") with the Ejido of San Javier.
The Agreement was signed by Minera Canuc S. de R.L. de C.V. and the properly constituted Ejido of San Javier and provides for unrestricted exploration access for a period of 10 years with rights for renewal for a further 10 year period thereafter. The Agreement covers the Company's 27 currently held claims and is contemplated to cover any further claims the Company may acquire in the San Javier area.
The Agreement was requested by the Ejido of San Javier and provides a means for the Ejido to restrict access for the artisanal miners who have come to San Javier, but who are not from the area. The Ejido of San Javier will be empowered by Canuc, subject to Canuc's approval secured in advance, to control property access permissions for the artisanal miners or any other groups operating locally on Company claims. In return, Canuc has secured unhindered exploration permissions for an extended length of time.
"This agreement allows us to conduct unrestricted exploration, over an extended time, as we pursue the prospect of a significant silver IOCG discovery in the heart of the San Javier mining camp," stated Christopher Berlet, President and CEO of Canuc Resources Corporation.
"The Ejido leadership at San Javier approached us seeking assistance to implement controls against disruptive artisanal mining activities taking place locally. To this end, we have been able to work together for mutual benefit and have deepened our community relationships in the process. This is consistent with our objectives of uncovering significant mineral wealth and catalyzing regional development benefits in the San Javier area."
Canuc is a junior resource company focusing on its San Javier Silver-Gold Project in Sonora State, Mexico. The Company also generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments.
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Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
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 information. The forward-looking information is based on current expectations and applies 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 information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
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