We have identified 23 RR Lyrae stars and 3 possible Anomalous Cepheids among 84 candidate variables in the recently discovered Canes Venatici I dwarf spheroidal galaxy. The mean period of 18 RRab type stars is <Pab> = 0.60 +/-0.01 days. This period, and the location of these stars in the period-amplitude diagram, suggest that Canes Venatici I is likely an Oosterhoff-intermediate system. The average apparent magnitude of the RR Lyrae stars <V> = 22.17 +/-0.02 is used to obtain a precision distance estimate of 210 +7/-5 kpc, for an adopted reddening E(B-V)=0.03 mag. We present a B,V color-magnitude diagram of Canes Venatici I that reaches V about 25 mag, and shows that the galaxy has a mainly old stellar population with a metal abundance near [Fe/H] = -2.0 dex. The width of the red giant branch and the location of the candidate Anomalous Cepheids on the color-magnitude diagram may indicate that the galaxy hosts a complex stellar population with stars from about 13 Gyr to as young as about 0.6 Gyr.
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