Mr. Peter Berdusco reports

CANADA ONE COMPLETES MOBILE METAL ION (MMI) SOIL GEOCHEMICAL SURVEY AT ABITIBI EAST CRITICAL MINERALS PROJECT, TIMMINS, ONTARIO

Canada One Mining Corp. has completed a mobile metal ion (MMI) soil geochemical survey over selected parts of its Abitibi East critical minerals project located 60 kilometres east of Timmins, Ont., Canada.

The property is located on the western end of the world-class Abitibi greenstone belt, central to the Timmins mining camp (119 million ounces (Moz) of gold (Au) and 337 Moz silver (Ag) historical production), the Kidd Creek volcanic massive sulphide (VMS) deposit (2.5 million tonnes of (Mt) zinc (Zn), copper (Cu) and silver (Ag), proven and probable) and the Alexo-Dundonald nickel deposit (1,254,000 tonnes of nickel (Ni), Cu and cobalt (Co) indicated).

MMI survey

Three areas of past exploration were chosen as locations for soil sampling:

• Area A in the northeast corner has been explored in the past for nickel mineralization. Surficial materials in this area are generally clayey soils within dense boreal forest; recent logging has provided access to the site.
• Area B in the southwestern corner was previously drilled for VMS-style mineralization. The area is overlain by wet clay deposits with some bedrock exposure.
• Area C, also previously drilled, was explored for copper mineralization, but returned anomalous nickel values from ultramafic rocks.

The MMI survey work is considered cursory in many respects, as MMI's ability to detect anomalous areas in the clayey and sandy soils needs to be tested. If MMI can identify metal anomalies in the glacial soils in areas of known mineralization, the use of MMI will be expanded over much of the project area.

Next steps

The MMI soil results will be reviewed when the samples results are received and, if proven to be a valuable tool in identifying mineralization, will be used to fine tune detailed ground surveys in 2024. The company has also conducted geophysical survey work, which it is currently reviewing.

Abitibi East project highlights:

• Polymetallic critical mineral property with additional base and precious metal potential (Cu-Zn-Ag, Ni-Pt-Pd (nickel-platinum and palladium) and Au).
• Centrally located to the Timmins gold camp (Au), Alexo-DunDonald (Ni-Cu-Co) operating nickel mine (20 km) and the Kidd Creek (Cu-Zn-Pb-Ag (copper-zinc-lead-silver)) operating copper mine (50 km).
• Abitibi East project covers 8,050 hectares on the western end of the world-class Abitibi greenstone belt.
• No modern exploration -- since 1995.
• Historical sampling and assaying are incomplete or absent -- modern multielement techniques are required for project geochemistry.

About Abitibi East

The Abitibi East property is underlain by Archean volcanic and sedimentary rocks which are intruded by gabbroic intrusives and (Matachewan) dolerite dikes. The project is prospectable for several different deposit model types that include: The Kambalda-type Ni-Cu-PGE (platinum group element) ore deposits; bimodal mafic-ultramafic volcanic massive sulphide (VMS) deposit; and orogenic gold deposits hosted by shear zones.

The project is located north of Iroquois Falls in an area that contains glaciofluvial and glaciolacustrine deposits, making traditional soil sampling difficult because the soils have been transported by glaciers to their current locations.

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.