CAVU Mining Announces Non-Brokered Private Placement of up to C$2,000,000

Vancouver, British Columbia--(Newsfile Corp. - November 8, 2021) - CAVU Mining Corp. (CSE: CAVU) (OTC: CAVVF) (FSE: 8NQ) ("CAVU" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for aggregate gross proceeds to the Company of up to C$2,000,000 from the sale of the following:

• up to 2,500,000 units of the Company (each, a "Units") at a price of C$0.40 per Unit; and
• up to 2,222,222 flow-through units of the Company (the "FT Units") at a price of C$0.45 per FT Unit.

Red Cloud Securities Inc. is acting as a finder in connection with the Offering.

Each Unit will be comprised of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.60 for a period of 24 months following the closing date of the Offering.

The net proceeds from the sale of Units will be used to fund the exploration of the Company's Hopper Copper-Gold Project in the Yukon Territory and for general working capital purposes. The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)) (the "Qualifying Expenditures"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Units for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures.

The closing of the Offering is subject to receipt of all necessary regulatory approvals including the Canadian Securities Exchange. The Unit Shares, FT Shares, Warrant Shares and any common shares of the Company that are issuable from any finder's warrants will be subject to a hold period of four months and one day in accordance with applicable securities laws. Finder's fees will be payable in accordance with the policies of the Canadian Securities Exchange.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

About CAVU Mining Corp.

CAVU Mining Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its Hopper Copper-Gold Project in Yukon and continues to evaluate complimentary mineral projects in mining-friendly jurisdictions. For more information visit www.cavumining.com

On behalf of the board of directors,
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Mining Corp.
jverbaas@cavumining.com
604-493-2997

Forward-Looking Statements

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and the Ontario Securities Commission.

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