CANADA ONE ANNOUNCES MMI SURVEY RESULTS; ANOMALOUS LEVELS OF NICKEL, COPPER AND SILVER VALUES ENCOUNTERED AT ABITIBI EAST PROJECT, TIMMINS, ONTARIO

Vancouver, B.C., December 14, 2023 – Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) (OTC: COMCF) (FSE: AU31) is pleased to announce it has received results from SGS Labs for its Abitibi East Project (“Abitibi East” or the “Property”) near Timmins Ontario.

Highlights

109 soil samples taken
100m line spacing and 50m sample spacing
3 areas of interest identified
Anomalous levels of nickel, copper and silver ions encountered
Anomalous levels of nickel ions were confirmed in an area previously explored for nickel
Anomalous levels of copper ions were confirmed in an area previously discovered having copper mineralization
These three areas will be the focus of follow-up Mobile Metal Ion (MMI) survey work and electromagnetic surveys to define mineralization and provide drill targets for testing

Mr. Peter Berdusco, President and CEO of Canada One, commented: “We believe the results of this survey further support our investment in MMI technology as an exploration tool that not only assists in the discovery of mineralization, but does so at depth. Identifying specific areas anomalous in Ni, Cu and Ag ions will guide the technical team’s next phase of MMI and geophysics at these locations.”

MMI Survey Results

A magnetic survey was conducted earlier this year and was immediately followed-up with prospecting and MMI soil sampling in areas of interest. Figure 1 below shows the location of the MMI lines on the magnetic map. The goal of the MMI survey was to determine if the MMI response provided any insight into the magnetic highs in these locations.

The reconnaissance MMI surveys appear to be a viable tool for identifying geochemically anomalous areas. 109 soil samples were taken, conducted at 100m line spacing with 50m sample spacing. As a result, three areas anomalous in base metals ions (see Figure 1) were located:

Target-A is a volcanogenic massive sulphide (VMS) prospect showing anomalous copper and silver ions, which is favourable for a VMS Target
Target-B shows anomalous nickel ions which may be due to hydrothermal reactivation and subsequent concentration of nickel from the ultramafic host rocks
Target-C also shows anomalous nickel ions which may be due to hydrothermal reactivation and subsequent concentration of nickel from the ultramafic host rocks

These three areas will be the focus of follow-up MMI survey work and electromagnetic surveys to define mineralization.

Figure 1: 2023 MMI lines plotted on Magnetics Map

MMI geochemistry is a proven advanced geochemical exploration technique known to find mineral deposits. It is especially well suited for buried mineral deposits. MMI measures metal ions that travel upward from mineralization to unconsolidated surface materials such soil, till, sand and so on. These mobile metal ions are released from mineralized material and travel upward toward the surface. Using careful soil sampling strategies, sophisticated chemical ligands and ultra-sensitive instrumentation, enabling the measurement of these ions. After interpretation, MMI data can indicate anomalous areas.

The intent of the survey was to determine if MMI could be used effectively over the thick glacial deposits in this area. The surveys appear to have been successful in that the assays show anomalous nickel in an area of past nickel exploration and anomalous copper in an area of past copper mineralization. The MMI surveys will need to be expanded to evaluate the size of the anomalous areas.

Abitibi East

The Property is located on the western end of the world-class Abitibi greenstone belt, central to the Timmins Mining Camp (119 Moz Au and 337 Moz Ag historical production)[1], the Kidd Creek Volcanic Massive Sulphide (VMS) deposit (2.5 Mt Zn, Cu, Ag Proven and Probable)[2], and the Alexo-Dundonald nickel deposit (1,254 kt Ni, Cu, Co Indicated)[3].

References

Qualified Person

The technical information contained in this news release has been reviewed and approved by Freeman Smith, P.Geo., a Qualified Person for the purposes of National Instrument 43-101.

Contact Us

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.