Canuc and Nova Beaucage shareholders approve amalgamation.

TORONTO--(BUSINESS WIRE)--Dec. 9, 1996--CANUC (CANADIAN DEALING NETWORK CANC.) Canuc Resources Corporation ("Canuc") and Nova Beaucage Resources Limited ("Nova Beaucage") jointly announced today that an amalgamation of the two companies was approved at a Special Meeting of Shareholders of each company on December 6, 1996.

On the effective date of the amalgamation, 1 common share of the amalgamated company will be exchanged for each share of Canuc and for every 3.65 shares of Nova Beaucage. The amalgamation of the two companies will be effective at year end, 1996 and the company formed by the amalgamation will continue business under the name Canuc Resources Corporation.

Each of Canuc and Nova Beaucage is exercising an option to acquire 30 percent, for a total of 60 percent, of the shares of Minera Andes Dorado S.A. ("Andos") which company owns the Gold Star Mine in the Nambija area of Ecuador. An additional option, if exercised, would bring the ownership of Andos to 60 percent by Canuc and 40 percent by Nova Beaucage, i.e. 100 percent by the amalgamated company. Based on a recent calculation by Canuc's contract geologist, there is a potential geological resource of 8,684,000 tonnes with an average grade of 7.9 grams or 0.25 ounces per tonne, giving a resource potential of 2.2 million ounces of gold, in the Gold Star Mine workings, alone. These workings account for a small fraction of the total contiguous area in which Andos is aggressively acquiring extensive additional mining rights.

The amalgamation of the two companies is intended to reduce expense and increase efficiency with one company, only, operating the Ecuadorian project in which both Canuc and Nova Beaucage currently hold interests. At the same time, the consolidation of the joint interests of these two companies in this project provides a greater force for possible future financing and joint ventures with third party mining companies.

Drilling of an initial 6 hole program commenced in late November, 1996 on the Ecuadorian project on 50 metre spacings away from the Gold Star Mine workings. To date, Hole no.1 has been completed at a depth of 121 metres and Hole no.2 at approximately 300 metres depth. The drill rig is currently being moved to Hole no.3 which should be completed prior to the Christmas shutdown. The first two drill holes encountered rocks very similar to those contained in the neighbouring Gold Star Mine workings which proved favourable for gold mineralization. The cores from these two holes are currently being visually analyzed and will be shipped to Bondar-Clegg in Vancouver for assaying. Results are expected to be available in late January, 1997.

Canuc's recently acquired option to earn a 51 percent interest in a former producing gold-silver mine in the Leadville area of Colorado also will expand the scope of the amalgamated company. This Leadville property has a history of profitable production and represents an exceptional exploration opportunity.

Canuc shares are quoted on the "CDN Unlisted" system under the symbol "CANC".

Nova Beaucage shares are quoted on the "CDN Unlisted" system under the symbol "NBAR".

CONTACT: Canuc Resources Inc.

H.J. Mockler, 416/861-1422

416/861-1478 (FAX)