Mr. Peter Berdusco reports

CANADA ONE COMPLETES MMI SOIL GEOCHEMICAL SURVEY AT 100% OWNED COPPER DOME PROJECT, PRINCETON, BRITISH COLUMBIA

Canada One Mining Corp. has completed a mobile metal ion (MMI) soil geochemical survey at its 100-per-cent-owned Copper Dome project, located south of Princeton, B.C.

MMI survey overview

As part of the company's 2023 exploration program, the MMI soil survey was completed over two previously identified zones of interest, the Friday Creek and Road Haul zones, and one new zone of interest, the Boundary Road zone.

Friday Creek zone

The MMI survey covered 3.2 line kilometres with samples being collected at nominal 100 m line spacings and 50 m sample intervals over the area of interest in a north-south direction. Prior exploration work at the Friday Creek zone has identified palladium (Pd), platinum (Pt) and gold (Au) mineralization (minfile 092HSE033).

Road Haul zone

The Road Haul zone survey covered 4.8 line km with samples being collected at nominal 100 m line spacings and 50 m sample intervals over the area of interest in a north-south direction, encompassing a historical high induced polarization (IP) signature.

The Boundary Road zone

The Road Boundary zone is located one km from the property's northern border that it shares with the Copper Mountain mine. The survey covered over 4.8 line km with samples being collected at nominal 100 m line spacings and 50 m sample intervals over the area of interest in an east-west direction.

All samples have been submitted to SGS Burnaby with results expected within the next four to six weeks.

Project overview

Copper Dome, located 18 km south of Princeton, B.C., is contiguous to Copper Mountain Mining Corp.'s currently producing Copper Mountain mine, which hosts a proven and probable mineral reserve of 702 million tonnes (Mt) of 0.24 per cent Cu (copper). Copper Dome's northern boundary lies 1.5 km from the mine's deposits.

Currently, the company is compiling past exploration data, initiated fieldwork and submitted a drill permit application in anticipation of a potential fall drill program. Following this summer's fieldwork, Canada One will turn its attention to defining the best drill targets with the intent of validating the work that has been done to date and outlining areas of copper mineralization.

Project highlights:

• 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, platinum and gold 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, 51 km of induced polarization surveys over areas of interest, airborne magnetics and electromagnetics (EM) surveyed over half of the project area, 2,253 soil and 378 rock samples collected, over 8,900 m of diamond drilling, and over one km of trenching.

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-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 net present value (NPV) at an 8-per-cent discount to $1.245-billion (U.S.). 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, PGeo, a qualified person for the purposes of National Instrument 43-101.

We seek Safe Harbor.