CONE:CC - Canada One Commences Phase Two Exploration Fieldwork at 100% Owned Copper Dome Project Princeton British Columbia

(TheNewswire)

Vancouver, B.C. - TheNewswire - October 04, 2023 - Canada One Mining Corp . (“ CanadaOne ” or the “ Company ”)(TSXV:CONE) (OTC:COMCF) (FSE:AU31) is pleased to announce it has commenced phase two exploration fieldwork at its 100%owned Copper Dome Project (the “ Project ”,“ Property ” or “ Copper Dome ”) located contiguous to the south ofHudbay Minerals’ producing Copper Mountain Mine, Princeton, British Columbia.

Phase Two Program

The phase two fieldwork program will consist ofadditional Mobile Metal Ion (MMI) geochemical surveying, geochemicalsampling, mapping and backpack drilling. The field crew will focus itsexploration on additional new zones which were not explored duringphase one.

Highlights

• Re-sampling of previous known historical showings andextend sampling of zones from the phase one MMI geochemical program(see below, “About MMITechnology”

• Extend lines eastward from the Friday Creek Zone MMIsurvey to encompass known historical copper anomalies

• Perform rock sampling on the Friday Creek Zone wherehigh grades of copper, gold and palladium have been historicallyobtained

• All rock samples will be analyzed by four-aciddigestion (previous historical assays were analyzed by two-aciddigestion) - this may provide better grades than the historicalsampling

• Core logging and mapping of the historical drill corefrom the Friday Creek Zone

• The Reco Zone (unexplored in phase one) will beprospected and sampled for gold, copper and palladium

• The Johnson Zone (unexplored in phase one) will beprospected, sampled as well as backpack hole drilled to a depth of 8feet on a shear zone

• The Enterprise Zone (unexplored in phase one) will berock sampled for prospective copper, gold and palladium

• Infill MMI lines are planned at the Friday Creek andBoundary Road Zones to greater define the phase one MMI soil samplingsurvey

• The Company is currently analyzing data from thecompleted phase one program on the Friday Creek, Haul Road andBoundary Road Zones

Exploration History

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

The Combination Creek Zone located within the northeastcorner of the Project shows stockwork veining associated with hornfelswithin volcanic and sedimentary rocks adjacent to the Copper Mountainstock. The best mineralization in the Combination Creek zone drilledto date is found in a 70 to 100m wide section of Nicola Volcanicsextending at least 250m east west, bounded to the north by the CopperMountain Stock and to the south by a coarse pink feldspar porphyrysyenite 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.

Project Highlights

• The Project is contiguous to Hudbay Minerals Inc.’s (TSX: HBM) currently producingCopper Mountain Mine, which hosts a Proven and Probable MineralReserve of 702 Mt of 0.24% Cu (hudbayminerals.com)

• Copper Dome’s northern boundary lies 1.5km from themine’s deposits

• The Project lies within the lowerportion of the Quesnel Trough porphyry belt, a well-established miningdistrict. The belt extends north from the Copper Mountain Mine,through the Elk, Brenda, Craigmont, Highland Valley, and New Aftonmines

• Previous drilling has confirmed the presence ofhigh-grade copper associated with northeastrunning geological structures similar to those seen at the CopperMountain Mine

• Potential for palladium (Pd), platinum (Pt) and gold(Au) exists within the western portion of the Project

• Multiple zones of mineralization have been discoveredon the Project to date

• Excellent infrastructure provides year-round accesswith low-cost exploration and low jurisdictional risk

• Past exploration includes airborne magnetics flown overthe entire Project, 51km of induced polarization (IP) surveyed overareas of interest, electro-magnetics (EM) surveyed over half of theProject area, 2,253 soil and 378 rock samplescollected, over 8,900m of diamond drilling and over 1km of trenching

Non-Brokered Private Placement

The Company also announces that it continues to moveforward with its non-brokered private placement (the “ Placement ”) ofunits (each, a “ Unit ”) at a price of $0.10 per Unit.  EachUnit consists of one common share of the Company and one-half of onecommon share purchase warrant allowing holders to purchase anadditional common share at a price of $0.15 for a period of thirty-sixmonths.

The Company completed an initial tranche of thePlacement for gross proceeds of $1,096,233 on September 5, 2023, andexpects to complete a further tranche to bring total proceeds from thePlacement to $1,800,000.  Completion of a further tranche remainssubject to approval of the TSX Venture Exchange.  For furtherinformation concerning the Placement, readers are encouraged to reviewthe news release issued by the Company on September 8, 2023.

About MMI Technology

Mobile Metal Ion (MMI) geochemistry is a provenadvanced geochemical exploration technique known to find mineraldeposits.

It is especially well suited for deeply buried mineraldeposits. MMI measures metal ions that travel upward frommineralization to unconsolidated surface materials such soil, till,sand and so on. These mobile metal ions are released from mineralizedmaterial and travel upward toward the surface. Using careful soilsampling strategies, sophisticated chemicalligands and ultra-sensitive instrumentation, enabling the measurementof these ions. After interpretation, MMI data can indicate anomalousareas.

There are many benefits to using MMI technology forsoil geochemistry:

• Few false anomalies

• Focused, sharp anomalies

• Excellent repeatability

• Definition of metal zones and associations

• Detection of deeply buried mineralization

• Low background values (low noise)

• Low limits of detection

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 website at ( www.canadaonemining.com ) or contact theCompany at ir@strategixir.com.

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 bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements and the parties have made assumptions and estimates basedon or related to many of these factors. Such factors include, withoutlimitation: the timing, completion and delivery of the referencedassessments and analysis. Readers should not place undue reliance onthe forward-looking statements and information contained in this newsrelease concerning these times. Except as required by law, the Companydoes not assume any obligation to update the forward-lookingstatements of beliefs, opinions, projections, or other factors, shouldthey change, except as required 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 .

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