Mr. Peter Berdusco reports

CANADA ONE COMPLETES IP SURVEY OVER VMS TARGET AT ABITIBI EAST CRITICAL MINERALS PROJECT, ONTARIO

Canada One Mining Corp. has completed a 46-kilometre gradient array induced polarization (IP) survey over a potential volcanogenic massive sulphide (VMS) target on its Abitibi East critical minerals project located 60 km northeast of Timmins, Ont., Canada.

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

Highlights:

• 46 km gradient IP survey completed;
• Objective of the survey is the identification and definition of a VMS target;
• Survey data results are currently being analyzed by the technical team, with recommendations to follow;
• VMS deposits can be rich in zinc, copper, lead, silver and gold;
• Positive results will warrant next phase exploration, including potential drill target generation.

Gradient IP survey

Gradient IP is a fast and relatively inexpensive geophysical method to map conductivity and chargeability in the near surface. It provides a better understanding of the electrical properties of the area being explored to determine if chargeability and potential conductivity could be used for targeting mineralization.

A 46 km GPS (Global Positioning System) grid was established and the gradient IP survey was carried out by GPS navigation using Garmin hand-held units. Two IPR12 receivers were used simultaneously, gradient readings were taken along east/west lines spaced at 100 metres, with readings taken at 50 m intervals.

The main feature of the gradient IP survey is a large, broad, chargeability high within the centre of the survey area. The data are presently being reviewed by the technical team, which will provide an interpretation of the data and recommendations for follow-up survey work.

About VMS deposits

VMS deposits are one of the richest sources of metals such as copper, lead and zinc globally. VMS deposits can also produce economic amounts of gold and silver as byproducts of mining these deposits.

Currently, global metal production from VMS deposits accounts for 22 per cent of zinc, 9.7 per cent of lead, 6 per cent of copper, 8.7 per cent of silver and 2.2 per cent of gold.

Abitibi East project:

• Polymetallic critical mineral property with additional base and precious metal potential (Ni, Cu, platinum (Pt), palladium (Pd), Au and Zn);
• Centrally located to the Timmins mining (Au) camp (60 km), Alexo-Dundonald (Ni-Cu-Co) deposit (20 km) and the Kidd Creek (Cu-Zn-Pb-Ag) operating mine (50 km);
• Abitibi East covers 8,050 hectares on the western end of the prolific Abitibi greenstone belt;
• No modern exploration since 1997. Past drilling has identified both VMS-style and nickel mineralization;
• Historical sampling and assaying did not sample for gold and other critical elements -- modern multielement techniques are required.

Marketing and consulting agreement

Further to the company's marketing and consulting agreement with Hillside Consulting and Media Inc. announced on Dec. 7, 2023. The start date of services under the agreement is Dec. 1, 2023. Hillside provides SEO/PPC (search engine optimization/pay-per-click), e-mail and SMS (short message service) awareness, Web development, media buying and distribution services.

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.