CONE - Canada One Submits Permit to Drill at 100% Owned Copper Dome Project Princeton British Columbia

(TheNewswire)

Vancouver, BC - TheNewswire - June 15, 2023 - Canada One Mining Corp. (“ CanadaOne ” or the “ Company ”) (TSXV:CONE) is pleased to announce a planned initial diamonddrill program of up to 2,500 metres once drill permitting is approvedat its 100% owned Copper Dome Project (the“ Project ”, “ Property ” or “ Copper Dome ”).

Project Overview

The Property located 18 km south of Princeton, BritishColumbia is contiguous to Copper Mountain MiningCorporation’s (TSXV: CMMC) currently producing Copper Mountain Mine,which hosts a Proven and Probable Mineral Reserve of 702 Mt of 0.24%Cu (cumtn.com) . CopperDome’s northern boundary lies 1.5km from the mine’s deposits.

The Company is currently compiling past explorationdata and has initiated fieldwork in anticipation of a potential falldrill program.

Drill Permitting Details

A comprehensive drill permit has been submitted to theBC Ministry of Energy, Mines and Low Carbon Innovation (the“ Ministry ”), which includes allowance for geochemical andgeophysical surveys in addition to diamond drilling.

Permitting has become an important part of explorationplanning particularly in regard to environment, social and governance(ESG) efforts which require time and consultation with numerousgroups, primarily First Nations. C onsultationwith First nations have now been initiated. The Company anticipates afirst review of the drill permit application by the Ministry to becompleted by September of this year with the potential of a grantedpermit in time for a fall drilling program.

Drill Target Details

The Property shares similar geology, and a similargeophysical and geochemical footprint to the Copper Mountain Mine.Drilling will focus on areas identified through geophysics that haveshown large conductivity anomalies immediately south of and borderingthe magnetic high of the Early Jurassic aged Lost Horse Intrusion. TheNicola Group rocks in this area are extensively mineralized over alarge area and are anomalous in copper and gold. Historical drillingin the area by the Company has returned positive results which willhelp the Company review and define drill targets for 2023.

Following this summer’s fieldwork, Canada One willturn its attention to defining the best drill targets for this firstcampaign with the intent of validating the work that has been done todate and outlining areas of copper mineralization.

Project Highlights

• 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 Property

• Multiple zones of mineralization have been discoveredon the Property 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

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 that the discoveries andobservations on properties in proximity to the Company’s propertiesare not necessarily indicative of the presence of similarmineralization or geology on the Company's properties.

Qualified Person

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 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.

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