CONE - Canada One Commences Field Work Program at 100% Owned Copper Dome Project Princeton British Columbia

(TheNewswire)

Vancouver, B.C. - TheNewswire - June 07, 2023 - Canada One Mining Corp . (“ CanadaOne ” or the “ Company ”) (TSXV:CONE) is pleased to announce it hascommenced exploration field work at its 100% owned Copper DomeProject (the “ Project ”,“ Property ” or “ Copper Dome ”) located south of Princeton, British Columbia.

The Project is contiguous to the south of Copper Mountain Mining Corporation’s (TSXV: CMMC) currentlyproducing Copper Mountain Mine (Figure 1), which hosts a Proven andProbable Mineral Reserve of 702 Mt of 0.24% Cu (cumtn.com) . Copper Dome’s northern boundarylies 1.5km from the mine’s deposits.

Regionally, it is located within the lower portion ofthe Quesnel Trough porphyry belt, a well-established mining district.The belt extends north from the Copper Mountain Mine, through the Elk,Brenda, Craigmont, Highland Valley, and New Afton mines (Figure 2).Canada One’s exploration work will include geochemistry, geophysics,and a drill program.

Past Exploration HighlightsInclude:

• Airborne magnetics flown over the entireProject

• 51km of induced polarization (IP) surveyed over areasof interest

• Electro-magnetics surveyed over half of the Projectarea

• 2,253 soil and 378 rock samples collected

• Over 8900m of diamond drilling

• The palladium (Pd), platinum (Pt) and gold (Au)potential on the Property has been under-explored

• Multiple zones of mineralization have been discoveredon the Property

• Majority of the Property, predominantly the southernportion, has had little to no exploration

Exploration Field Work

Snow has abated and the fieldwork season can now startin full earnest at the Copper Dome. The Project has a long history ofexploration dating back 50 years. Several drilling programs andgeophysical surveys have been conducted over the years and arecurrently being compiled into a digital Leapfrog model (see newsrelease dated, June 1, 2023). The field work program outline is largerthan past programs conducted by previous operators and therefore somegaps in the survey data exist. The objective of the survey work is toclose those existing gaps.

Click Image To View Full Size

Figure 1. Location Map: Proximity of Copper Dome toCopper Mountain Mine

Figure 2. Location Map: Lower Quesnel Trough PorphyryBelt

Exploration Field Work Details

Mobile Metal Ion (MMI)

Currently, the Company is completing a MMI geochemistrysurvey. The survey is intended to overlap with the older geochemicaland 2010 Titan IP geophysical grid. This MMI work will be used toconfirm the outline of the Induced Polarization (IP) grid scheduled forlater this summer.

MMI is arecently developed geochemical technique that measures in parts perbillion the trapped metal ions in the upper soil horizon. One of theadvantages to this type of survey is the ability to detect amineralized body beneath a body of unmineralized, transportedsurficial cover, like glacial till.

Titan Survey

The TitanSurvey is a distributed array-based geophysicalsystem that collects two separate geophysical surveys; Direct CurrentInduced Polarization (DCIP) as well as Magneto-telluric (MT).  DCIPprovides resistivity and chargeability sections, and the MT provides adeeper resistivity section. The technology behind TITAN allows thesystem to sample data very rapidly and measure very small signals. The DCIP data is typically and routinelycollected to depths of 500-750m and the MT data is collected to depthsof 1500m and greater allowing for survey detection at much deeperlevels than more traditional surveys.

Phased Drill Program

Th is summer work will be used to refine drill targets for a first phasediamond drill program. While surface targets for drilling have alreadybeen identified the Company believes merging the 2010 and 2023 IP datawith the magnetics and MMI geochemistry will further refine thesetargets, outlining more specifically, porphyry mineralization for testing.

Current Financing

The Company announced that it is undertaking, a ListedIssuer Financing Exemption (LIFE) Offering of up to 3,000,000 Units,and a non-brokered private placement of up to 15,000,000 Units on thesame terms (the “ PrivatePlacement ”), for gross proceeds of up to$1,800,000 (see news release dated April 25, 2023). As disclosed inthe Offering Document, the Company intends to use the net proceedsfrom the LIFE Offering and Private Placement to fund its explorationand development of the Company’s properties, extinguish liabilitiesand payables and for general administrative and working capitalexpenses. The Company’s field work program is subject to the closingof the Private Placement.

Exploration History

Friday Creek Zone

In 2007, diamond drilling was performed by the Companyon the Friday Creek Zone in the northwest corner of the Project andreturned the following highlighted intercepts (AR 33852):

• DDH FC-11: 156m 0.09% Cu, including 10m of 0.7% Cu and0.8 g/t Au

• DDH FC-12: 42.6m of 0.28% Cu, including 6m of 1.5% Cuand 0.7 g/t Au

Combination Creek Zone

The Combination Creek Zone located within the northeastcorner of the Project shows stockwork veining associated with hornfelswithin the volcanic and sedimentary rocks adjacent to the CopperMountain stock. The best mineralization in the Combination Creek zonedrilled to date is found in a 70 to 100m wide section of Nicolavolcanics extending at least 250m east west, bounded to the north bythe Copper Mountain Stock and to the south by a coarse pink feldsparporphyry syenite dyke.

Drilling by the Company in 2010, 2011 and 2012 in theCombination Creek Zone returned the following highlighted intercepts(AR 33070, AR 33852):

• DDH PT-10-01: 50m of 0.15% Cu, including 12m 0.28%

• DDH PT-10-02: 45m of 0.17% Cu, including 10m 0.44%

• DDH PT-10-06: 19.5m of 0.71% Cu, including 6.4m1.25%

• DDH PT-11-18: 102.7m of 0.14% Cu, including 6m 0.29%

• DDH PT-11-21: 32m of 0.21% Cu, 10m of 0.19%, 33m of0.14%, 38m of 0.56%

• DDH PT-12-26: 20M of 0.67% Cu, including 14m of0.86%

The sampling was done to the standards of the time andis considered “historical” in nature and is not NI43-101 compliantand cannot be relied upon. The results are listed here to show why theCompany is interested in this area. Future work and drilling may notrepeat similar results.

Copper Mountain Mine

The Copper Mountain Mine, which is contiguous to thenorth of Copper Dome, is a conventional open pit, truck and shoveloperation. The mine has a 45,000 tonnes per day plant that utilizes aconventional crushing, grinding and flotation circuit to producecopper concentrates with gold and silver credits. A new life of mineplan to expand the mill to 65,000 tonnes per day, further increasesaverage annual production to 138 million pounds of copper equivalentand reduces all-in costs to US$1.76 per pound of copper over the first20 years of a 32-year mine life. The 65,000 tonnes per day millexpansion, including the integration of New Ingerbelle, brings CopperMountain Mine’s after-tax NPV at an 8% discount to US$1.245 billion(see Life of Mine Plan Expansion Study Technical Report, CopperMountain Mining Corporation, Sept. 2022). Further potential existsthrough the upgrading of Mineral Resources to Mineral Reserves andfurther exploration to continue to extend the mine life and addvalue.

The Company cautions the discoveries and observationson properties in proximity to the Company’s properties are notnecessarily indicative of the presence of similar mineralization orgeology on the Company's properties.

Qualified Person

The technical information contained in this newsrelease has been reviewed and approved by Freeman Smith, P.Geo., aQualified Person for the purposes of National Instrument43-101.

For further information, interested parties areencouraged to visit the Company’s profile on SEDAR ( www.sedar.com ) or contact the Companyat info@evolvemgmt.net.

On behalf of the Board of Directors of

CANADA ONE MINING CORP.

Peter Berdusco

President and Chief Executive Officer

1 877 844 4661

Forward-LookingStatements

This press release includes certain"forward-looking information" and "forward-lookingstatements" (collectively "forward-looking statements")within the meaning of applicable Canadian securities legislation. Allstatements, other than statements of historical fact, included herein,without limitation, statements relating to the future operating orfinancial performance 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,or statements that events, conditions, or results "will","may", "could", or "should" occur or beachieved. Forward-looking statements in this press release relate to,among other things: statements relating to the successful closing ofthe Offering and anticipated timing thereof and the intended use ofproceeds. Actual future results may differ materially. There can be noassurance that such statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements. Forward looking statements reflect thebeliefs, opinions and projections on the date the statements are madeand are based upon a number of assumptions and estimates that, whileconsidered reasonable by the respective parties, are inherentlysubject to significant business, technical, economic, and competitiveuncertainties and contingencies. Many factors, both known and unknown,could cause actual results, performance or achievements to be materially different fromthe results, performance or achievements that are or may be expressedor implied by such forward-looking statements and the parties havemade assumptions and estimates based on or related to many of thesefactors. Such factors include, without limitation: the timing,completion and delivery of the referenced assessments and analysis.Readers should not place undue reliance on the forward-lookingstatements and information contained in this news release concerningthese times. Except as required by law, the Company does not assumeany obligation to update the forward-looking statements of beliefs,opinions, projections, or other factors, should they change, except asrequired by law.

TSX VentureExchange Disclaimer

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release .

Copyright (c) 2023 TheNewswire - All rights reserved.