CANADA ONE PROVIDES EXPLORATION UPDATE ON COPPER DOME PROJECT, PRINCETON, BRITISH COLUMBIA

Vancouver, B.C., August 1, 2023 – Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) is pleased to provide an exploration update on its 2023 program.

Milestones

The Company has focussed its 2023 Exploration on its 100% owned Copper Dome Project located south of Princeton, BC and contiguous to the producing Copper Mountain Mine recently purchased for US$439M and now operated by Hudbay Minerals Inc.
A comprehensive drill permit has recently been submitted to the BC Ministry of Energy, Mines and Low Carbon Innovation (the “Ministry”), which includes allowance for geochemical and geophysical surveys in addition to diamond drilling. The Company anticipates a first review of the drill permit application by the Ministry to be completed by September of this year with the potential of a granted permit in time for a fall drilling program.
As part of the permitting process, the Company has engaged consultation with numerous groups, including First Nations.
The exploration team has completed a Mobile Metal Ion (MMI) soil geochemical survey over two previously identified zones of interest, the Friday Creek and Road Haul zones, and one new zone of interest, the Boundary Road zone. All samples have been submitted to SGS Labs.
A detailed compilation of recent geophysical and past drilling programs into one cohesive data package is ongoing. This will allow for comprehensive geological review in three dimensions of all past work and surveys performed.

Project Highlights

Copper Dome’s northern border to located 1.5kms south of the Copper Mountain Mine open pit deposits, which hosts a Proven and Probable Mineral Reserve of 702 Mt of 0.24% Cu (cumtn.com)
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

ADD here . . .

Copper Mountain Mine

The Copper Mountain Mine, which is contiguous to the north of Copper Dome, is a conventional open pit, truck and shovel operation. The mine has a 45,000 tonnes per day plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits. A new life of mine plan to expand the mill to 65,000 tonnes per day, further increases average annual production to 138 million pounds of copper equivalent and reduces all-in costs to US$1.76 per pound of copper over the first 20 years of a 32-year mine life. The 65,000 tonnes per day mill expansion, including the integration of New Ingerbelle, brings Copper Mountain Mine’s after-tax NPV at an 8% discount to US$1.245 billion (see Life of Mine Plan Expansion Study Technical Report, Copper Mountain Mining Corporation, Sept. 2022). Further potential exists through the upgrading of Mineral Resources to Mineral Reserves and further exploration to continue to extend the mine life and add value.

The Company cautions the discoveries and observations on properties in proximity to the Company’s properties are not necessarily indicative of the presence of similar mineralization or geology on the Company’s properties.

Qualified Person

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

For further information, interested parties are encouraged to visit the Company’s profile on SEDAR (www.sedar.com) or contact the Company at 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

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.