CAVU Mining Closes Oversubscribed Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - March 29, 2021) - CAVU Mining Corp. (CSE: CAVU) ("CAVU" or the "Company") is pleased to announce that it has closed its previously announced private placement on an oversubscribed basis raising gross proceeds of $610,000. The closing consisted of the issuance of 1,525,000 units at a price of $0.40 per unit (the "Offering").

Each unit (a "Unit") consists of one common share and one-half common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company for a period of two years from the closing of the Offering at an exercise price of $1.00 per share. The Warrants may be subject to an accelerated expiry at the Company's discretion if the closing trading price of the Company's shares is greater than $2.00 per share for a period of 10 consecutive trading days.

Finder's fees of $9,300 were paid and 23,250 finder's warrants were issued in connection with the Offering. Each finder's warrant is exercisable at $1.00 for a period of two years from the closing date.

The proceeds raised from the Offering are expected to be used for the Company's on-going evaluation of potential acquisitions and for general working capital.

In accordance with applicable securities laws, the securities issued pursuant to the Offering will be subject to a four-month hold period expiring on July 27, 2021.

About CAVU Mining Corp.

CAVU Mining Corp. is a junior 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 Kitimat Copper Project in British Columbia and continues to evaluate complimentary mineral projects in mining-friendly jurisdictions.

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

This news release contains forward-looking statements, including statements regarding the Offering and the advancement of the Kitimat Property, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve 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.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.

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