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

Toronto, Ontario--(Newsfile Corp. - 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 objectives 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 disclosure documents filed 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.

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