CONE:CC - Canada One to Focus 2023 Exploration on 100% Owned Copper Dome Project Princeton British Columbia

(TheNewswire)

Vancouver, B.C. - TheNewswire - April 25 , 2023 - Canada One Mining Corp . (“ CanadaOne ” or the “ Company ”) (TSXV:CONE) is pleased to announce that it will be focusing its 2023exploration activities on its 100% owned Copper Dome Project (the“ Project ” or “ Property ”) located 18 km south of Princeton,British Columbia and contiguous to the Copper Mountain Mine, owned andoperated by Copper Mountain Mining Company (TSXV: CMMC).

The Project has seen extensive exploration over theyears including magnetics and induced polarization geophysical surveysand several rounds of diamond drilling. Canada One has a large landpackage of over 2,200 hectares that includes several drill readytargets.

Exploration History

Work completed to date, beginning in 1960 on theProperty, consists of four drilling campaigns totaling around 11,000 min 66 holes. In addition, 2,253 soil and 378 rock samples have beencollected. Geophysical surveys include 281 km of ground magnetics, 114km of induced polarization and 86 km of ground electro-magnetics.

In 2007, diamond drilling was performed by the Companyon the Friday creek zone in the northwest corner of the Project. HoleDDH FC-12 returned 42.6m of 0.28%Cu including 6m 1.5% Cu and 0.7 g/tAu. Hole DDH FC-11 returned 156m 0.09% Cu Including 10m of 0.7% Cu 0.8g/t gold (AR 33852) .

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 100 m wide section of Nicolavolcanics extending at least 250 m east west and bounded to the northby the Copper Mountain Stock and to the south by a coarse pinkfeldspar porphyry syenite dyke.

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

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

• DDH PT-10-02: 45 meters of 0.17% Cu, including 10m0.44% Cu.

• DDH PT-11-18: 102.7 meters of 0.14% Cu including 6m0.29% Cu.

The sampling was done to the standards of the time andare considered “historical” in nature and cannot be considered43-101 compliant and cannot be relied upon. The results are listedhere to show why the Company is interested in this area. Future workand drilling may not repeat similar results.

Canada One will be pursuing an exploration permit thisspring which will allow the Company to expand on the existing IP andmagnetics surveys. The Company will follow the IP extension work witha compilation of the geophysics and conduct geochemical grids over theareas of interest.

Private Placement of up to $1.8million

The Company is pleased to announce a non-brokeredprivate placement (the “ LIFEOffering ”) consisting of up to 3,000,000 unitsof the Company, (each, a “ Unit ”), at a price of $0.10 per Unit. TheUnits will be offered in all Canadian provinces, except Quebec,pursuant to the Listed Issuer Financing Exemption under NationalInstrument 45-106 ProspectusExemptions (“ NI 45-106 ”). There is an offering document (the“ OfferingDocument ”) related to the LIFE Offering thatcan be accessed under the Company’s profile at www.sedar.com and onthe Company’s website at www.canadaonemining.com. Prospectiveinvestors should read the LIFE Offering Document before making aninvestment decision. The securities offered under the LIFE Offeringwill not be subject to a hold period in accordance with applicableCanadian securities laws.

In addition, the Company announces that it isundertaking, concurrent with the LIFE Offering, a non-brokered privateplacement of up to 15,000,000 Units on the same terms as the LIFEOffering (the “ PrivatePlacement ”), for gross proceeds of up to$1,800,000 from the LIFE Offering and the Private Placement. The Unitssold pursuant to the Private Placement shall besubject to a four-month-and-one-day hold period and will be offered inall Canadian provinces pursuant to the Accredited Investor Exemptionunder NI 45-106 and in such other jurisdictions that will bedetermined by the Company.

Each Unit will consist of one (1) common share in thecapital of the Company (each, a “ Common Share ”) andone-half (1/2) of one Common Share purchase warrant (each wholewarrant, a “ Warrant ”). Each Warrant will be exercisableinto one (1) Common Share (each, a “ Warrant Share ”) ata price of $0.15 per Warrant Share for a period of three (3) yearsafter the closing date of the LIFE Offering and the Private Placement(the “ ClosingDate ”), subject to adjustment in certainevents. If, at any time following the date that isfour-months-and-one-day following the Closing Date, the Common Shares have a closing price on the TSXV Venture Exchange (the“ TSXV ”) of $0.25 or greater per Common Share for a period offive (5) consecutive trading days, the Company shall have the right toaccelerate the expiry date of the Warrants that is at least 60 daysfollowing the date of such notice to holders of Warrants.

As disclosed in the Offering Document, the Companyintends to use the net proceeds from the LIFE Offering and PrivatePlacement to fund its exploration and development of the Company’sproperties, extinguish liabilities and payables and for generaladministrative and working capital expenses. TheCompany may pay finder’s fees under the LIFE Offering as permittedby the policies of the TSXV and applicable securities laws.

The LIFE Offering and Private Placement are expected toclose concurrently on or about May 26, 2023, subject to customaryclosing conditions, including, but not limited to, the receipt of allnecessary approvals including the approval of the TSXV.

Copper Mountain Area Geology

The Copper Mountain area is a large, structurallycomplex, alkalic porphyry copper-gold system where historical miningoperations from 1927 to 2019 have produced approximately 1.7 billionpounds (Blb) of copper, 700,000 ounces (oz) of gold, and 9 million ounces (Moz) of silver . Most of the copper-goldmineralization at the Copper Dome Project and at the mine site is inthe form of veins, fracture fillings, and disseminations withinvolcanic rocks of the Nicola group and intrusive rocks of the LostHorse intrusive complex.

The Copper Mountain deposit is classified as an alkalicporphyry copper-gold deposit. Alkalic porphyry deposits typically havelow-pyrite and high-carbonate contents, and therefore have a lowprobability of issues with acid-rock drainage.

Copper Mountain Mine

The Copper Mountain Mine, which is contiguous to thenorth of Copper Dome Project, is a conventional open pit, truck andshovel operation. The mine has a 45,000 tonnes per day plant thatutilizes a conventional crushing, grinding and flotation circuit toproduce copper concentrates with gold and silver credits. A new lifeof mine plan to expand the mill to 65,000 tonnes per day, furtherincreases average annual production to 138 million pounds of copperequivalent and reduces all-in costs to US$1.76 per pound of copperover the first 20 years of a 32-year mine life. The 65,000 tonnes perday mill expansion, including the integration of New Ingerbelle,brings Copper Mountain Mine’s after-tax NPV at an 8% discount toUS$1.245 billion (see Life of Mine Plan Expansion Study TechnicalReport, Copper Mountain Mining Corporation, Sept. 2022). Furtherpotential exists through the upgrading of Mineral Resources to MineralReserves and further exploration to continue to extend the mine lifeand add value.

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.

Marketing Services Agreement

The Company has engaged Globull Technologies Inc.(Globull) for online marketing services. Services include, but are notlimited to, native advertising distribution,display advertisement distribution, push notification distribution,search engine marketing , and lead generation andcapture. The term of the contract is for six months starting on April24, 2023 with the option to continue on a month-to-month basisthereafter. Globull will be compensated $5,000 USD for the initialsix-month period.

Cancelled Option Agreements

The Company hascancelled the fundamental acquisition of the Matabitchuan CobaltProject previously announced on August23 rd and September 6 th , 2022 pursuant to which the Company was toacquire the right to earn an interest from arm’s length thirdparties in the Matabitchuan, Eldridge Pubelow, Cooper and Golden Lakeproperties.

The Company has also cancelled its acquisition of theFranelle Copper Project located in Quebec.

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 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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