CONE - Canada One Acquires Option to Earn 100% Interest in the CM1 Copper Property Princeton British Columbia

(TheNewswire)

Vancouver, B.C. - TheNewswire - October 26, 2023 - Canada One Mining Corp.(“Canada One” or the “Company”) (TSXV:CONE) (OTC:COMCF)(FSE:AU31) is pleased to announce it has entered intoan agreement (the “ OptionAgreement ”) pursuant to which it will begranted an option to acquire 100% interest in the CM1 Copper Property(the “ Property ”), from arm’s length vendors (the“ Vendors ”). The Property is located contiguous to the Company’s flagship Copper DomeProject , Princeton, British Columbia.

Mr. Peter Berdusco, President and CEOof Canada One commented: “We continue to acquire key properties at this favorable time in the markets andare delighted to add CM1 to our extensive land position immediatelysouth of Hudbay’sCopper Mountain Mine . CanadaOne is focused on world-class mineral belts with infrastructure andpotential for discovery of mineable deposits. CM1 increases our landposition at CopperDome and we look forward toexecuting exploration campaigns in an effort to unlocking itsdiscovery potential.”

1. CM1 PropertyHighlights

• Approximately 1,054 hectares in size

• Contiguous to the Company’s flagship Copper DomeProject

• Located 4 km south of Hudbay Mineral’s producing Copper MountainMine (1,132 Mt @ 0.22% Cu; 0.09 g/t Au; 0.64 g/t Ag; Total Measured andIndicated 1,2 )

• Property contains the Ox Copper Showing (disseminatedchalcopyrite-magnetite)

• Altered porphyry intrusions hosted in reactive Nicola Group maficvolcanic rocks

• Extensive porphyry style alteration footprint(chlorite-epidote-calc-silicate skarn)

• Relatively under-explored

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Figure 1.  The location of the CM1Copper Property , Copper Dome Project and Copper Mountain Mine .  Note that the Copper Mountain Mine provides geologiccontext for Canada One’s land position, but this is not necessarilyindicative that the land position hosts similar grades or tonnages ofmineralization.

1. TransactionTerms

Under the terms of the Option Agreement, the Company will be grantedthe right to acquire 100% interest in the Property in considerationfor completing a series of cash payments totaling $225,000, issuing atotal of 2,000,000 common shares of the Company (the “ Shares ”), and incurringexpenditures on the Property of $225,000. The Company is required tomake the cash payments, issue the Shares and incur the expenditures,in accordance with the below in order to maintain the Option Agreementin good standing:

1. 1. (i) 600,000 Shares and $12,500 cash within fivebusiness days of receipt of the approval of the TSX VentureExchange of the Option Agreement (the TSXV Approval ”);
   2. (ii) an additional 350,000 Shares and $25,000 cash on orbefore the first anniversary of TSXV Approval;
   3. (iii) an additional 350,000 Shares and $37,500 in cash on orbefore the second anniversary date of TSXVApproval;
   4. (iv) anadditional 350,000 Shares and $50,000 in cash on or before the thirdanniversary date of TSXV Approval;
   5. (v) an additional 350,000 Shares and $100,000 in cash onor before the fourth anniversary date of TSXV Approval;
   6. (vi) incur $50,000 in expenditureson the Property before October 15, 2024;
   7. (vii) incur a further $75,000 in expenditures on theProperty before October 15, 2025; and
   8. (viii) incur a further $100,000 in expenditures onthe Property before October 15, 2026.

Assuming the Company exercises the option and acquires the Property,it will remain subject to a two percent (2.0%) net smelter returnroyalty in favor of the Vendors on mineral products produced from theProperty. Fifty-percent (50%) of the royalty can be purchased from theVendors at any time by completing a one-time cash payment of$1,000,000.

1. Closing of the Transaction

Closing of the transaction remains subject to a numberof conditions, including the completion of anynecessary financing, the approval of the TSXVenture Exchange and the satisfaction of otherclosing conditions customary in transactions of this nature.

The transaction cannot close until the requiredapprovals are obtained, and the outstanding conditions satisfied.There can be no assurance that the transaction will be completed asproposed or at all. No finders’ fees or commissions are payable inconnection with the transaction.

References

1 Klue, R., Redmond, P., Alberto, L.C., Simonian, B., Humala,A., Weston, S., 2022.  COPPER MOUNTAIN MINE LIFE-OF-MINE PLAN AND 65KT/D EXPANSION STUDY UPDATE NI 43-101 TECHNICAL REPORT BRITISHCOLUMBIA, CANADA.  Report Date: September 30, 2022.  Effective Date:August 1, 2022.

2 The Copper Mountain Mine Mineral Resource Estimate includes ameasured resource 597 Mt @ 0.23% Copper, 0.10 g/t Gold, 0.71 g/tSilver, an Indicated resource of 535 Mt @ 0.20% Copper, 0.09 g/t Gold,0.57 g/t Silver and an inferred resource of 446 Mt  @ 0.19% Copper,0.09 g/t Gold, 0.54 g/t Silver

1. Qualified Person

All scientific and technical information in this newsrelease has been prepared by, or approved by Daniel MacNeil, PGeo. Mr.MacNeil is a qualified person for the purposes of National Instrument43-101 - Standards of Disclosure for Mineral Projects.

1. ContactUs

For further information, interested parties areencouraged to visit the Company’s website at www.canadaonemining.com , or contact the Company by email at ir@strategixir.com , or by phone at 1.877.844.4661.

On behalf of the Board of Directors of

CANADA ONE MINING CORP.

Peter Berdusco

President and Chief Executive Officer

Forward-LookingStatements

This press release includes certain“ forward-lookinginformation ” and“ forward-lookingstatements ” (collectively“ forward-lookingstatements ”) within themeaning of applicable Canadian securities legislation. All statements,other than statements of historical fact, included herein, withoutlimitation, statements relating to the future operating or financialperformance of the Company, are forward looking statements.Forward-looking statements are frequently, but not always, identifiedby words such as “ expects ”, “ anticipates ”, “ believes ”, “ intends ”, “ estimates ”, “ potential ”, “ possible ”, and similar expressions, orstatements that events, conditions, or results “ will ”, “ may ”, “ could ”, or “ should ” occur or be achieved. Forward-lookingstatements in this press release relate to, among other things:statements relating to the completion of the transaction and receiptof any required regulatory approvals. Actual future results may differmaterially. There can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. Forward lookingstatements reflect the beliefs, opinions and projections on the datethe statements are made and are based upon a number of assumptions andestimates that, while considered reasonable by the respective parties,are inherently subject to significant business, technical, economic,and competitive uncertainties and contingencies. Many factors, bothknown and unknown, could cause actual results, performance orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements and the parties have made assumptions andestimates based on or related to many of these factors. Such factorsinclude, without limitation: the timing, completion and delivery ofthe referenced assessments and analysis. Readers should not placeundue reliance on the forward-looking statements and informationcontained in this news release concerning these times. Except asrequired by law, the Company does not assume any obligation to updatethe forward-looking statements of beliefs, opinions, projections, orother factors, should they change, except as required by law.

TSX VentureExchange Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policiesof the TSX VentureExchange ) acceptsresponsibility for the adequacy or accuracy of thisrelease .

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