Vancouver, B.C., December 13, 2024 – Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) (OTC: COMCF) (FSE: AU31) is pleased to announce it has entered into an agreement (the “Agreement”), dated December 12, 2024, pursuant to which the Company has agreed to acquire (the “Acquisition”) the Goldrop claim (totalling 42 hectares) (the “Property”) from an arm’s length vendor. The Property is located 4KM west of Copper Mountain Mine’s Ingerbelle deposit, Princeton, British Columbia.
The Agreement provides for the Acquisition of the Property for a nominal cash only consideration.
The Acquisition does not involve any Non-Arm’s Length Parties (as defined in the policies of the Exchange) to the Company. In connection with Acquisition, the Property does not have any material liabilities and the Company does not expect to assume any material obligations related to the Property, nor does it expect to devote the majority of its working capital or resources to the development of the Property.
The primary focus of the Company at this time continues to remain the planned exploration and drilling work at Copper Dome Central. As a result, the Acquisition does not constitute a “fundamental acquisition” for the Company within the policies of the Exchange.
No finders’ fees or commissions are payable in connection with the Acquisition.
The Company also announces it will not be proceeding with the private placement previously announced on July 09, 2024. The Company will revisit financing options and evaluate market conditions in the new year.
Copper Dome Project
- The Project lies within the lower portion of the 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
- Previous drilling has confirmed the presence of high-grade copper associated with northeast running geological structures similar to those seen at the Copper Mountain Mine
- Past exploration has identified the presence of palladium (Pd), platinum (Pt) and gold (Au) mineralization on the Property
- Multiple zones of mineralization have been discovered on the Property to date
- Excellent infrastructure provides year-round access with low-cost exploration and low jurisdictional risk
- Past exploration includes, airborne magnetics flown over the entire Project, 51km of induced polarization (IP) surveyed over areas of interest, Airborne Magnetics and electro-magnetics (EM) surveyed over half of the Project area, 2,253 soil and 378 rock samples collected, over 8900m of diamond drilling and over 1km of trenching
For further information, interested parties are encouraged to visit the Company’s website at www.canadaonemining.com, or contact the Company by email at ir@strategixir.com, or by phone at 1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer