Tinone Announces Private Placement Financing of Units FOR Gross Proceeds of $1,000,000 /Not FOR Distribution to

TINONE ANNOUNCES PRIVATE PLACEMENT

FINANCING OF UNITS FOR GROSS

PROCEEDS OF $1,000,000

/NOT FOR DISTRIBUTION TO

UNITED STATES

NEWSWIRE SERVICES OR FOR

DISSEMINATION IN

THE UNITED STATES

./

VANCOUVER, BC

,

May 18, 2023

/CNW/ -

TinOne Resources Inc.

(TSXV: TORC) ("

TinOne

" or

the "

Company

") is pleased to announce a non-brokered private placement financing of up to

7,692,308 units of the Company (the "

Units

") at a price of

C$0.12

per Unit for gross proceeds of up

to

C$1,000,000

(the "

Financing

"). Each Unit is comprised of one common share of the Company

and one-half of one common share purchase warrant (each whole common share purchase warrant,

a "

Warrant

") of the Company. Each Warrant will entitle the holder to purchase one common share

of the Company at an exercise price of

C$0.25

for a period of 24 months following the closing date

of the Financing.

"We are extremely encouraged by the drill results from our exploration program at the Company's

Great Pyramid tin project and the unexpected lithium find at our

Aberfoyle

project, both of which

are located in the Tier 1 mining jurisdiction of

Tasmania, Australia

," commented

Chris Donaldson

,

Executive Chairman. "

Additional funds raised in this placement will allow TinOne to achieve key

catalysts by enabling us to update the resource for Great Pyramid and extend the exciting lithium

and tin mapping and sampling program at

Aberfoyle

. This small financing allows new and existing

shareholders of our highly prospective tin company that has critical mineral assets in a Tier 1

jurisdiction, to participate at an attractive level

."

In connection with the Financing, the Company may pay finder's fees up to 6% cash and up to 6% in

finder's warrants to eligible finders. Closing of the Financing is subject to receipt of all necessary

approvals, including that of the Board of Directors and the TSX Venture Exchange. All securities

issued in connection with the Financing will be subject to a statutory hold period of four months plus

a day from the date of issuance in accordance with applicable securities legislation in

Canada

.

The subscription by insiders pursuant to the Financing is considered to be a related party transaction

subject to Multilateral Instrument 61-101. The Company intends to rely on exemptions from the

formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and

5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by

insiders will not exceed 25% of the fair market value of the Company's market capitalization.

Proceeds from the Financing will be used for exploration and working capital purposes.

About TinOne

TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of

tin, tin/tungsten and lithium projects in the Tier 1 mining jurisdictions of

Tasmania

and

New South

Wales, Australia

. The Company controls some of the most important tin districts in

Tasmania

,

including

Aberfoyle

, Rattler Range and Great Pyramid and is focused on advancing its highly

prospective portfolio. TinOne is supported by Inventa Capital Corp.

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.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward–Looking Statements" within the meaning of the United

States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under

applicable Canadian securities laws. When used in this news release, the words "anticipate",

"believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and

similar words or expressions, identify forward–looking statements or information. These forward–

looking statements or information relate to, among other things: the development of the Company's

projects; future mineral exploration, development and production; and the release of exploration

results.

Forward–looking statements and forward–looking information relating to any future mineral

production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential

for TinOne and its business, and future exploration plans are based on management's reasonable

assumptions, estimates, expectations, analyses and opinions, which are based on management's

experience and perception of trends, current conditions and expected developments, and other

factors that management believes are relevant and reasonable in the circumstances, but which

may prove to be incorrect. Assumptions have been made regarding, among other things, the price

of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of

exploration and development; the estimated costs of development of exploration projects; TinOne's

ability to operate in a safe and effective manner and its ability to obtain financing on reasonable

terms.

These statements reflect TinOne's respective current views with respect to future events and are

necessarily based upon a number of other assumptions and estimates that, while considered

reasonable by management, are inherently subject to significant business, economic, competitive,

political and social uncertainties and contingencies. Many factors, both known and unknown, could

cause actual 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 or forward-looking information and TinOne has made assumptions and estimates

based on or related to many of these factors. Such factors include, without limitation: the

Company's dependence on early stage mineral projects; metal price volatility; risks associated with

the conduct of the Company's mining activities in

Australia

; regulatory, consent or permitting

delays; risks relating to reliance on the Company's management team and outside contractors;

risks regarding mineral resources and reserves; the Company's inability to obtain insurance to

cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding

the failure to generate sufficient cash flow from operations; risks relating to project financing and

equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of

reserves and resources, metallurgical recoveries and capital and operating costs of such projects;

contests over title to properties, particularly title to undeveloped properties; laws and regulations

governing the environment, health and safety; the ability of the communities in which the Company

operates to manage and cope with the implications of COVID-19; the economic and financial

implications of COVID-19 to the Company; operating or technical difficulties in connection with

mining or development activities; employee relations, labour unrest or unavailability; the

Company's interactions with surrounding communities and artisanal miners; the Company's ability

to successfully integrate acquired assets; the speculative nature of exploration and development,

including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts

of interest among certain directors and officers; lack of liquidity for shareholders of the Company;

litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management

discussion and analysis. Readers are cautioned against attributing undue certainty to forward–

looking statements or forward-looking information. Although TinOne has attempted to identify

important factors that could cause actual results to differ materially, there may be other factors that

cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not

assume any obligation, to update these forward–looking statements or forward-looking information

to reflect changes in assumptions or changes in circumstances or any other events affecting such

statements or information, other than as required by applicable law.

SOURCE

TinOne Resources Corp.

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For further information:

and to sign-up to the mailing list, please contact: Chris Donaldson,

Executive Chairman, Tel: (604) 813-3931, Email: [email protected]

CO: TinOne Resources Corp.

CNW 08:00e 18-MAY-23