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CLV.V ·

Canoe Mining Ventures Announces Election of Bruce Langstaff to the Board of Directors

Management Changes

CANOE MINING VENTURES ANNOUNCES ELECTION OF BRUCE LANGSTAFF TO THE

BOARD OF DIRECTORS

Toronto, Ontario – August 11, 2022 – Canoe Mining Ventures Corp. (TSXV: CLV) (the "Company") is

pleased to announces that Mr. Bruce Langstaff was elected to its board of directors (the "Board") at the

annual and special shareholder meeting (the "Meeting") of its shareholders held on August 9, 2022.

Mr. Langstaff is the Managing Director of Langstaff & Company Ltd., an advisory and consulting firm

focused on assisting companies and their stakeholders during extraordinary corporate events. In addition,

Mr. Langstaff is the Executive Chairman of Copland Road Capital Corporation, public company listed on

the Canadian Securities Exchange. Mr. Langstaff was previously employed in senior roles at TD Securities,

Newcrest Capital, Bunting Warburg, and Canaccord Genuity where he was a trusted advisor to institutional

investors, public companies and their management teams. Mr. Langstaff holds a Bachelor of Commerce

degree from Queen’s University and holds the CFA designation.

“We welcome Bruce Langstaff to the Board and look forward to leveraging his extensive financial

experience to make invaluable contributions to the Company ,” said Scott M. Kelly, Director and CEO of

the Company, “We would also like to thank Jorge Estepa for his years of service as a Director and wish

him the best in his future endeavours”.

In addition, the Company is pleased to report the results from the Meeting. A total of 9,873,488 common

shares were voted at the Meeting, representing 41.42% of the issued and outstanding common shares of the

Company.

All resolutions presented to the shareholders were approved, and are fully described in the management

information circular dated July 5, 2022, which can be found on SEDAR (www.sedar.com), including the

adoption of an omnibus long-term incentive plan (the "Plan"). The Plan was approved by the Board on July

5, 2022 and remains subject to the approval of the TSX Venture Exchange.

On Behalf of the Board of Directors

Scott M. Kelly

Director and CEO

+1 416 998 4714

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain "forward-looking statements" within the meaning of that phrase under

Canadian securities laws. Without limitation, statements regarding future plans and object ives of the

Company are forward looking statements that involve various degrees of risk. Forward-looking statements

reflect management's current views with respect to possible future events and conditions and, by their

nature, are based on management's beliefs and assumptions and subject to known and unknown risks and

uncertainties, both general and specific to the Company. Although the Company believes the expectations

expressed in such forward-looking statements are reasonable, such statements are not guarantees of future

performance and actual results or developments may differ materially from those in our forward -looking

statements. The following are important factors that could cause the Company’s actual results to differ

materially from those expressed or implied by such forward looking statements: general market conditions,

the uncertainty of future profitability and the uncertainty of access to additional capital. Additional

information regarding the material factors and assumptions that were applied in making these forward-

looking statements as well as the various risks and uncertainties facing the Company are described in

greater detail in the "Risk Factors " section of the Company’s annual Management's Discussion and

Analysis and other continuous dis closure documents file d with the Canadian securities regulatory

authorities which are available at www.sedar.com. The Company undertakes no obligation to update

forward-looking information except as required by applicable law. The reader is cautioned not to place

undue reliance on and the Company relies on litigation protection for forward-looking statements.