CANADA ONE PROVIDES UPDATE ON PRIVATE PLACEMENT

Vancouver, B.C., August 17, 2023 – Canada One Mining Corp. (“Canada One” or the “Company”) (TSXV: CONE) announces that it is continuing to progress with its non-brokered private placement (the “Offering”) of up 18,000,000 units (each, a “Unit”), at a price of $0.10 per Unit, for gross proceeds of up to $1,800,000. Each Unit will consist of one common share of the Company and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.15 for a period of thirty-six months from the closing date of the Offering, subject to accelerated expiry in the event the closing price of the common shares on the TSX Venture Exchange is $0.25 or greater for a period of five consecutive trading days.

The net proceeds raised from the Offering will continue to be used to advance exploration and development of the Copper Dome Project located south of Princeton, British Columbia, as well as to retire existing liabilities and payables and for general working capital purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), a portion of the Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). The balance of the Offering will be made to purchasers pursuant to the accredited investor exemption under Part 2 of NI 45-106 (the “Accredited Investor Exemption”).

The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. The securities offered under the Accredited Investor exemption will be subject to a hold period of four-months-and-one-day following issuance in accordance with applicable Canadian securities laws. A revised offering document related to the Offering and Listed Issuer Financing Exemption will be filed by the Company, and will be accessible under the Company’s profile at www.sedar.com and on the Company’s website at: www.canadaonemining.com. Prospective investors should read this offering document before making an investment decision.

The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering. Closing of the Offering remains subject to the approval of the TSX Venture Exchange.

For further information, interested parties are encouraged to visit the Company’s website at (www.canadaonemining.com) or contact the Company at ir@strategixir.com.

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.