Canada One to Option Cooper Lake and Golden Lake Properties, Ontario Canada
CANADA ONE MINING CORP.
2489 Bellevue Avenue
West Vancouver, British Columbia
V7V 1E1
NEWS RELEASE
CANADA ONE TO OPTION COOPER LAKE AND GOLDEN LAKE PROPERTIES, ONTARIO CANADA
September 06, 2022 – Vancouver, Canada – Canada One Mining Corp. (the “Company” or “Canada
One”) (TSXV: CONE) is pleased to announce that it has entered into an option agreement, dated
effective August 31st, 2022 (the “Agreement”), pursuant to which the Company will acquire from
an arm’s length third party, the right to earn a 100% interest, subject to a 2% net smelter returns
royalty (the “Royalty”), in the Cooper Lake and Golden Lake properties (the “ Property”) located
roughly 50 kilometres south of Cobalt, Ontario (the “Transaction”). The Transaction will be included
as part of the Company’s option to earn a 90% interest in the Matabitchuan Cobalt Project and a
100% interest in the Eldridge Pubelow Property, as announced by the Company on August 23, 2022,
and together the transactions constitute a fundamental acquisition in accordance with the rules of
the TSX Venture Exchange (“TSXV”).
The Agreement
The Company can earn a 100% interest in the Property, subject to a 2% net smelter returns royalty
(the “Royalty”), by issuing an aggregate of 400,000 common s hares (the “Share Payments”), and
making $40,000 in cash payments (the “Cash Payments”) to the Optionor on or before the dates set
out below:
(i) 125,000 s hares and $5,000 in cash within five Business Days after receipt of the
approval of the Agreement from the TSXV (the “TSXV Approval”);
(ii) an additional 125,000 s hares at market value and $10,000 in cash on or before the
first anniversary date of the TSXV Approval; and
(iii) an additional 150,000 s hares at market value and $25,000 in cash on or before the
second anniversary date of the TSXV Approval.
Following the exercise of the option, the Company will grant the Royalty to the vendor of the
Property. The Company can purchase 50% (or 1%) of the Royalty at any time for a one-time payment
of $1,000,000 in cash.
Closing
Closing of the Transaction remains subject to the completion of a technical report in respect of the
Property, completion of the Offering , and the approval of the TSX V. The Transaction cannot be
completed until approval of the TSXV is received. Trading in the common shares of the Company is
currently halted on the TSXV and is expected to remain halted pending completion of further filings
with the TSXV. All common shares issuable by the Company in connection with the Share Payments
will be subject to a four -month-and-one-day statutory hold period in accordance with applicable
securities laws.
Project Overview
The Cooper Lake and Golden Lake properties are contiguous with the Company’s recently optioned
Matabitchuan Project. Matabitchuan is located 50kms south of Cobalt, Ontario mining camp, a five-
element (Co-Ni-Ag-Cu+/-Au ) vein style district which became one of the largest silver -producing
areas in the world, eventually yielding a total of 460 million ounces (more than 13 million kilograms)
of silver – over $20 -billion worth at today’s silver prices. The district contains several known
deposits, historically mined, which have been targeted for their cobalt potential.
Despite the Property’s proximity to this district and the mining towns of Temagami and Silver Centre
(abandoned), it has received comparatively little geological or exploration attention over the years.
For further information, interested parties are encouraged to visit the Company’s profile on SEDAR
(www.sedar.com) or contact the Company at [email protected].
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release may contain certain “Forward -Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities
laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify
forward-looking statements or information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves
or resources, regulatory or government requirements or approvals, the reliability of third party
information, continued access to mineral properties or infrastructure, fluctuations in the market for
gold, and other factors or information. Such statements represent the Company’s current views with
respect to future events and are necessarily based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently subject to significant business,
economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both
known and unknown, could cause results, performance or achievements to be materially different
from the results, performance or achievements that are or may be expressed or implied by such
forward-looking statements. The Company does not intend, and does not assume any obligation, to
update these forward- looking statements or information to reflect changes in assumptions or
changes in circumstances or any other events affections such statements and information other than
as required by applicable laws, rules and regulations.