Mr. Peter Berdusco reports

CANADA ONE ACQUIRES OPTION TO EARN 100 per cent INTEREST IN THE CM1 COPPER PROPERTY, PRINCETON, BRITISH COLUMBIA

Canada One Mining Corp. has entered into an agreement pursuant to which it will be granted an option to acquire 100-per-cent interest in the CM1 copper property from arm's-length vendors. The property is located contiguous to the company's flagship Copper Dome project, Princeton, B.C.

Peter Berdusco, president and chief executive officer of Canada One, commented: "We continue to acquire key properties at this favourable time in the markets and are delighted to add CM1 to our extensive land position immediately south of Hudbay's Copper Mountain mine. Canada One is focused on world-class mineral belts with infrastructure and potential for discovery of minable deposits. CM1 increases our land position at Copper Dome and we look forward to executing exploration campaigns in an effort to unlocking its discovery potential."

CM1 property highlights:

• Approximately 1,054 hectares in size;
• Contiguous to the company's flagship Copper Dome project;
• Located four kilometres south of Hudbay Mineral's producing Copper Mountain mine (1,132,000 tonnes at 0.22 per cent copper; 0.09 gram per tonne gold; 0.64 g/t silver; total measured and indicated);
• Property contains the Ox copper showing (disseminated chalcopyrite-magnetite);
• Altered porphyry intrusions hosted in reactive Nicola group mafic volcanic rocks;
• Extensive porphyry-style alteration footprint (chlorite-epidote-calc-silicate skarn);
• Relatively underexplored.

Transaction terms

Under the terms of the option agreement, the company will be granted the right to acquire 100-per-cent interest in the property in consideration for completing a series of cash payments totalling $225,000, issuing a total of two million common shares of the company, and incurring expenditures on the property of $225,000. The company is required to make the cash payments, issue the shares and incur the expenditures, in accordance with the below, in order to maintain the option agreement in good standing:

1. 600,000 shares and $12,500 cash within five business days of receipt of the approval of the TSX Venture Exchange of the option agreement;
2. An additional 350,000 shares and $25,000 cash on or before the first anniversary of TSX-V approval;
3. An additional 350,000 shares and $37,500 in cash on or before the second anniversary date of TSX-V approval;
4. An additional 350,000 shares and $50,000 in cash on or before the third anniversary date of TSX-V approval;
5. An additional 350,000 shares and $100,000 in cash on or before the fourth anniversary date of TSX-V approval;
6. Incur $50,000 in expenditures on the property before Oct. 15, 2024;
7. Incur a further $75,000 in expenditures on the property before Oct. 15, 2025;
8. Incur a further $100,000 in expenditures on the property before Oct. 15, 2026.

Assuming the company exercises the option and acquires the property, it will remain subject to a 2-per-cent net smelter return royalty in favuor of the vendors on mineral products produced from the property. Fifty per cent of the royalty can be purchased from the vendors at any time by completing a one-time cash payment of $1-million.

Closing of the transaction

Closing of the transaction remains subject to a number of conditions, including the completion of any necessary financing, the approval of the TSX Venture Exchange and the satisfaction of other closing conditions customary in transactions of this nature.

The transaction cannot close until the required approvals are obtained, and the outstanding conditions satisfied. There can be no assurance that the transaction will be completed as proposed or at all. No finders' fees or commissions are payable in connection with the transaction.

Qualified person

All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, PGeo. Mr. MacNeil is a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.