CONE - Canada One Provides Corporate Update
(TheNewswire)
Vancouver, BC - TheNewswire - August 3, 2023 - Canada One Mining Corp. (“ CanadaOne ” or the “ Company ”) (TSXV:CONE) is pleased to provide the following update on certain ongoingcorporate developments.
Copper Dome Project
The Company is focusing its 2023 exploration program onits wholly-owned Copper Dome Project (the “ Project ”) locatedsouth of Princeton, British Columbia and contiguous to the producingCopper Mountain Mine recently purchased for US$439 million and nowoperated by Hudbay Minerals Inc. Acomprehensive drill permit for the Project has recently been submittedto the British Columbia Ministry of Energy, Mines and Low CarbonInnovation (the “ Ministry ”), which includes allowance forgeochemical and geophysical surveys in addition to diamond drilling.The Company anticipates a first review of the drill permit applicationby the Ministry to be completed by September of this year with thepotential of a granted permit in time for a fall drillingprogram.
As part of the permitting process, the Company hasengaged consultation with numerous groups,including First Nations. The exploration teamhas completed a Mobile Metal Ion (MMI) soil geochemical survey over two previously identified zones ofinterest, the Friday Creek and Road Haul zones, and one new zone ofinterest, the Boundary Road zone. All samples have been submitted toSGS Labs. A detailed compilation of recentgeophysical and past drilling programs into one cohesive data packageis also ongoing, and which will allow for comprehensive geologicalreview in three dimensions of all past work and surveysperformed.
Completion of further exploration and development workon the Project remains subject to market conditions and additionalfinancing being received by the Company.
Matabitchuan Cobalt Project /Franelle Copper Project
As previously announced on April 25, 2023, the Companyconfirms that it will not be proceeding with transactions involvingthe Matabitchuan Cobalt Project and the Franelle Copper Project, andthat any such transactions and associated financing have beencancelled. In connection with the termination, the Company has notassumed any ongoing obligations or liabilities related to theMatabitchuan Cobalt Project or the Franelle Copper Project. Anon-refundable deposit of $50,000 was advanced by the Company inconnection with the proposed transaction involving the Franelle CopperProject. The TSX Venture Exchange has not reviewed or accepted theproposed acquisition of the Matabitchuan Cobalt Project or theFranelle Copper Project or the related deposit.
Resumption of Trading
The Company has applied to the TSX Venture Exchange toresume trading in its common shares. The resumption of tradingremains subject to the satisfactory completion of a review by the TSXVenture Exchange and the Company will provide further information oncesuch a review has been completed and a date confirmed for theresumption of trading.
The Copper Dome Project’s is located 1.5 kilometerssouth of the Copper Mountain Mine open pitdeposits. 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, as well as palladium (Pd),platinum (Pt) and gold (Au) mineralization. Multiple zones ofmineralization have been discovered on the Property to date. Excellent infrastructure provides year-round access with low-costexploration and low jurisdictional risk
The technical information contained in this newsrelease has been reviewed by Freeman Smith, P.Geo, a Qualified Personfor the purposes of National Instrument 43-101.
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 planned exploration anddevelopment of the Copper Dome Project. Actual future results maydiffer materially. There can be no assurance that such statements willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such statements. Forwardlooking statements reflect the beliefs, opinions and projections onthe date the statements are made and are based upon a number ofassumptions and estimatesthat, while considered reasonable by the respective parties, areinherently subject to significant business, technical, economic, andcompetitive uncertainties and contingencies. Many factors, both knownand unknown, could cause actual results, performance or achievementsto be materially different from the results, performance orachievements 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 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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