Canada One Provides Update on Private Placement

Vancouver, BC – TheNewswire – 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 [email protected].

On behalf of the Board of Directors of

CANADA ONE MINING CORP.

Peter Berdusco

President and Chief Executive Officer

1 877 844 4661

Forward-Looking Statements

This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by 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 be achieved. Forward-looking statements in this press release relate to, among other things: statements relating to the planned exploration and development of the Copper Dome Project and the intended use of the proceeds from the Offering. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

TSX Venture Exchange Disclaimer

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.