Mr. Peter Berdusco reports

CANADA ONE CONDUCTS DATA COMPILATION ON 100% OWNED COPPER DOME PROJECT, PRINCETON, BRITISH COLUMBIA

Canada One Mining Corp. has commenced a detailed compilation of past exploration on its 100-per-cent-owned Copper Dome project located 18 kilometres south of Princeton, B.C., and contiguous to the Copper Mountain mine.

"Due to the project being adjacent to the Copper Mountain mine the area has received significant work over the past 50 years. This work has typically been piecemealed over smaller parcels which have been consolidated under Canada One," Peter Berdusco, president and chief executive officer, commented. "The project area has had several geophysical surveys which will now be added to a 3-D Leapfrog geological model. This model will provide a better understanding of the potential deposit model mineralization and alteration which occurs immediately south of the mine and will form the targeting model for future drill programs."

Recent geophysical surveys, post 2008, include airborne magnetics over the entire project, electromagnetics (EM) over half of the project area and roughly 51 kilometres of induced polarization (IP) over areas of interest. The most recent drilling from 2008 through 2013 combined was 8,906 m of diamond drilling and 2,251 core samples which will, in addition to older drilling, be compiled into the overall 3-D model.

Copper Dome highlights

• The project lies within the lower portion of the Quesnel trough porphyry belt which extends north from the Copper Mountain mine, through the Highland Valley, New Afton, Gibraltar, Mt. Polley, Mt. Milligan and Kemess mines.
• The project is contiguous to Copper Mountain which reports proven and probable mineral reserves of 702 million tonnes of 0.24 per cent Cu. Hudbay Minerals Inc. recently entered into an all-share purchase of Copper Mountain Mining Corp. valued at $439-million (U.S.).
• The property's northern border lies 1.5 kilometres south of the Copper Mountain open pits.
• Previous drilling has confirmed the presence of high-grade copper associated with northeast running geological structures similar to those seen at Copper Mountain.
• Potential for palladium (Pd), platinum (Pt) and gold (Au) exists within the western portion of the property.
• Excellent infrastructure provides year-round access with low-cost exploration and low jurisdictional risk.

Objective of the compilation program

The compilation will combine the recent geophysical and past drilling program into one cohesive data package within the Leapfrog software allowing for the comprehensive geological review in three dimensions of all past work and surveys performed. This will allow the company to prepare a summer work program and also fill in any existing gaps in the data in preparation for drilling.

Past exploration highlights

Friday Creek zone

In 2007, diamond drilling was performed by the company on the Friday Creek zone in the northwest corner of the project and returned the following highlighted intercepts (AR 33852):

• DDH FC-11: 156 m 0.09 per cent Cu, including 10 m of 0.7 per cent Cu and 0.8 g/t Au;
• DDH FC-12: 42.6 m of 0.28 per cent Cu, including six m of 1.5 per cent Cu and 0.7 g/t Au.

Combination Creek zone

The Combination Creek zone located within the northeast corner of the project shows stockwork veining associated with hornfels within the volcanic and sedimentary rocks adjacent to the Copper Mountain stock. The best mineralization in the Combination Creek zone drilled to date is found in a 70 to 100 m wide section of Nicola volcanics extending at least 250 m east-west, bounded to the north by the Copper Mountain stock and to the south by a coarse pink feldspar porphyry syenite dike.

Drilling by the company in 2010, 2011 and 2012 in the Combination Creek zone returned the following highlighted intercepts (AR 33070, AR 33852):

• DDH PT-10-01: 50 m of 0.15 per cent Cu, including 12 m 0.28 per cent;
• DDH PT-10-02: 45 m of 0.17 per cent Cu, including 10 m 0.44 per cent;
• DDH PT-10-06: 19.5 m of 0.71 per cent Cu, including 6.4 m 1.25 per cent;
• DDH PT-11-18: 102.7 m of 0.14 per cent Cu, including six m 0.29 per cent;
• DDH PT-11-21: 32 m of 0.21 per cent Cu, 10 m of 0.19 per cent, 33 m of 0.14 per cent, 38 m of 0.56 per cent;
• DDH PT-12-26: 20 m of 0.67 per cent Cu, including 14 m of 0.86 per cent.

The sampling was done to the standards of the time and is considered historical in nature and is not National Instrument 43-101 compliant and cannot be relied upon. The results are listed here to show why the company is interested in this area. Future work and drilling may not repeat similar results.

Copper Mountain area geology

The Copper Mountain area is a large, structurally complex, alkalic porphyry copper-gold system where historical mining operations from 1927 to present have produced over 1.7 billion pounds of copper, 700,000 ounces of gold, and nine million ounces of silver (see life of mine plan expansion study technical report, Copper Mountain Mining, September, 2022).

Most of the copper-gold mineralization at the Copper Dome project and at the mine site is in the form of veins, fracture filling, and disseminations within volcanic rocks of the Nicola group and intrusive rocks of the Lost Horse intrusive complex.

The Copper Mountain deposit is classified as an alkalic porphyry copper-gold deposit. Alkalic porphyry deposits typically have low-pyrite and high-carbonate contents, and therefore have a low probability of issues with acid-rock drainage.

Copper Mountain mine

The Copper Mountain mine, which is contiguous to the north of Copper Dome project, is a conventional open pit, truck and shovel operation. The mine has a 45,000-tonne-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 $1.76 (U.S.) per pound of copper over the first 20 years of a 32-year mine life. The 65,000-tonne-per-day mill expansion, including the integration of New Ingerbelle, brings Copper Mountain mine's after-tax NPV (net present value) at an 8-per-cent discount to $1,245-million (U.S.) (see life of mine plan expansion study technical report, Copper Mountain Mining, September, 2022).

Further potential exists through the upgrading of mineral resources to mineral reserves and 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 property are not necessarily indicative of the presence of similar mineralization or geology on the company's property.

Qualified person

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

We seek Safe Harbor.