Tinone Closes First Tranche of Oversubscribed Private Placement Financing FOR Gross Proceeds of C$2,154,400

TINONE CLOSES FIRST TRANCHE OF

OVERSUBSCRIBED PRIVATE PLACEMENT

FINANCING FOR GROSS PROCEEDS OF

C$2,154,400

(TSX-V: TORC)

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR

DISSEMINATION IN

THE UNITED STATES

/

VANCOUVER, BC

,

Aug. 15, 2022

/CNW/ -

TinOne Resources Inc.

(TSXV: TORC) ("

TinOne

" or

the "

Company

") is pleased to announce that the non-brokered private placement financing,

previously announced on

July 12, 2022

and

July 20, 2022

, was oversubscribed and the first tranche

has been closed, raising gross proceeds of

C$2,115,400

. A total of 21,154,000 units of the

Company (the "

Units

") were issued at a price of

C$0.10

per Unit (the "

Financing

").

Each Unit is comprised of one common share of the Company and one common share purchase

warrant (the "

Warrant

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

common share of the Company at an exercise price of

C$0.20

for a period of 36 months following

the closing date of the Financing.

The Company paid cash finder's fees equal to

$46,200

and issued 462,000 finders warrants of the

Company, to acquire that number of common shares in the capital of the Company at

$0.20

per

share, for a period of 36 months following the closing date of the Financing.

The Financing is subject to the receipt of all necessary approvals, including the approval of the TSX

Venture Exchange and necessary regulatory approvals. All securities issued in connection with the

Financing will be subject to a statutory hold period of four months plus a day from closing, expiring

December 16, 2022

.

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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities

in

the United States

, nor shall there be any sale of the securities in any jurisdiction in which such

offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they

be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or under

any U.S. state securities laws, and may not be offered or sold in

the United States

absent

registration or an applicable exemption from the registration requirements of the 1933 Act, as

amended, and applicable state securities laws.

About TinOne

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

projects in the Tier 1 mining jurisdictions of

Tasmania

and

New South Wales, Australia

. The

Company is focused on advancing its highly prospective portfolio while also evaluating additional tin

opportunities. 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, including drilling programs and mobilization of drill rigs; future mineral exploration,

development and production; the release of drilling results; and completion of a drilling program.

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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CO: TinOne Resources Corp.

CNW 15:30e 15-AUG-22