Mr. Dan Symons reports

C3 METALS INTERSECTS 286 METRES AT 0.37% COPPER AND 0.21 G/T GOLD, INCLUDING 192 METRES AT 0.45% COPPER AND 0.27 G/T GOLD, AT BELLAS GATE, JAMAICA

C3 Metals Inc. has intersected strong porphyry copper-gold mineralization in the first two holes of its recently commenced drill program on the company's 100-per-cent-owned Bellas Gate project in Jamaica.

Complete assays have been received for hole PVT0900-001 (EOH (end of hole) 152 metres) and partial assays for PVT0900-002 down to 350 metres depth (EOH 480.7 m). PVT0900-001 was the maiden drill hole with the company's recently purchased, man-portable drill rig and was a training hole for the new Jamaican drilling team and trainers. Both holes confirmed broad zones of near-surface copper-gold mineralization.

To date, approximately 1,650 m of a fully financed and recently announced 8,500 m drill program have been completed. Continuing drilling will continue evaluating a cluster of discrete high-priority porphyry copper-gold targets. These targets are defined by geology, soil geochemistry and geophysics along the two parallel Camel and Connors porphyry belts at the Bellas Gate project.

Drilling highlights:

• Longest interval of copper-gold mineralization intersected at Provost to date;
• 285.9 m at 0.37 per cent copper and 0.21 gram per tonne gold (0.52 per cent copper equivalent) from 64.1 m, including 191.5 m at 0.45 per cent copper and 0.27 per cent gold (0.64 per cent CuEq) intersected in the upper 350 m of hole PVT0900-002;
• Copper sulphide mineralization logged to the end of hole PVT0900-002 at 480.7 m. Assays are pending for the lower 130.7 m with the last assay interval returning 12 m (338 m to 350 m) at 0.46 per cent copper and 0.27 g/t gold (0.64 per cent CuEq);
• 92 m at 0.24 per cent copper and 0.12 g/t gold (0.32 per cent CuEq) from 60 m intersected in hole PVT0900-001. End of hole assayed 0.23 per cent copper and 0.10 g/t gold (0.30 per cent CuEq) over its last two m interval;
• Multiple phases of alteration, veining and mineralization evident, porphyry copper-gold mineralization overprinted by intermediate- and high-sulphidation epithermal veining;
• C3 Metals' recently purchased man-portable drill rig is performing strongly with excellent penetration rates being achieved at very low direct drilling costs to date. Three holes for approximately 1,100 m now completed at Provost with a fourth hole in progress;
• A larger contractor rig is drilling on the Camel Hill porphyry target where historical hole depths average only 220 m below surface. The first hole has been extended from its planned 450 m depth, as visual copper mineralization is evident to the current depth of 615 m.

Dan Symons, president and chief executive officer, stated: "We believe we are in the initial stages of a significant discovery at the Bellas Gate project in Jamaica. We are currently drill testing multiple porphyry targets over a four-kilometre trend of copper-gold mineralization. We have confirmed multiple, near-surface porphyries and believe there are deeper-seated, high-grade drivers of such an extensive trend of porphyry alteration and mineralization. Prior drilling was sporadic with average hole depths of less than 225 m at Bellas Gate.

"For the first time in the project's history, C3 Metals is now well set up to systematically evaluate both the strike extent and depth extent of these two distinct porphyry trends. We have designed this program utilizing all available data from surface geological mapping, soil and rock geochemical sampling, geophysics (mag and IP), and the limited previous drilling. Successfully drilling the broadest interval of copper-gold mineralization ever at Provost in the second hole of the demonstrates the significant advances we have made in our modelling and 3-D understanding of the geology at Bellas Gate."

The PVT0900-002 copper-gold intersection is the longest mineralized intercept drilled to date at Provost. Pyrite and chalcopyrite mineralized diorite was intersected to the bottom of hole when drilling had to be terminated at 480.7 m due to a shortage of drill rods. The depth capacity of the company's recently acquired man-portable drill rig was expected to be approximately 400 m; however, based on the performance to date, significantly greater depths in NQ-sized core are possible. Additional drill rods have been sourced to enable drilling to continue to 650 m depth in suitable ground conditions.

Drilling at Provost confirms a telescoped, fully intact (not eroded) porphyry copper-gold system which is interpreted to be spatially interrelated to a larger porphyry system at depth. Drill core observations include:

• A syn-porphyry lahar (volcanic debris flow) partially covers the Provost porphyry indicating a well-preserved system;
• Coincident porphyry A- and B-type quartz veins associated with gold-rich chalcopyrite-pyrite mineralization;
• Porphyry mineralization is commonly overprinted by mineralized intermediate- and high-sulphidation epithermal veins;
• Pervasive porphyry-style alteration and mineralization open along strike and at depth.

Next steps

Recent and historical drilling at Provost confirms porphyry and epithermal copper-gold mineralization is open in most directions. C3 Metals' man-portable drill rig is lightweight, manoeuvrable and ideally suited to stepout extension drilling of the high-grade porphyry mineralization intersected in PVT0900-002. The company plans to systematically evaluate this extensive zone of alteration and surface geochemistry at Provost with multiple drill holes.

A larger-capacity contractor drill rig is currently drilling approximately 3.5 km southeast of Provost at the Camel Hill porphyry target. The first hole planned to a depth of 450 m has been extended due to the continued presence of appreciable chalcopyrite copper mineralization in the drill core. At Sept. 11, 2023, this hole was at 615 m depth. These first drill holes along this southeastern part of the Camel trend will provide structural, geochemical, alteration and mineralization information to assist in the targeting for the bornite-rich potassic altered cores of most economic porphyry systems. Four deep holes (700 m to 1,000 m) are currently planned along the Camel and Connors porphyry belts.

The company looks forward to providing further updates as drilling progresses and anticipates a steady flow of assay results through the end of 2023.

About C3 Metals Inc.

C3 Metals is a mineral exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits. The company is actively exploring in Jamaica where it has identified 16 porphyry and 40 epithermal prospects over a 30 km strike extent across its 20,700-hectare exploration licences package. Mining is currently the second-largest industry in Jamaica, and historical mining dates back to the colonial eras of the 1500s (Spanish) and 1800s (British). The company also holds approximately 24,000 hectares located in the prolific high-grade Andahuaylas-Yauri porphyry-skarn belt of southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). At Jasperoide, the company has identified over 15 skarn prospects and an outcropping porphyry system over two parallel 28 km belts. The company has published a maiden resource estimate on the first of these skarn targets, which contained measured and indicated resources of 52 million tonnes at 0.5 per cent copper and 0.2 gram per tonne gold.

Qualified person statement

Stephen Hughes, PGeo, is vice-president, exploration, and a director for C3 Metals and is a qualified person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information in this news release and approves the written disclosure contained herein.

Technical program

C3 Metals adheres to a strict quality assurance/quality control protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

Samples were cut at C3 Metals' operations base in Bellas Gate, St. Catherine, Jamaica, by company personnel. Diamond drill core was sampled in maximum three-metre intervals, stopping at geological boundaries, and using a rock saw. Core diameter is a mix of HQ3 and NQ3 depending on the depth of the drill hole. Samples were bagged, tagged and packaged for shipment by DHL air freight service to the ALS preparation laboratory in Sudbury, Ont., Canada, where entire samples were crushed to 70 per cent passing 10 mesh (two millimetres), and a 250-gram split was pulverized to 85 per cent passing 200 mesh (75 micrometres).

The prepared samples were sent to the ALS assay laboratories in Vancouver, Canada, for copper, gold and silver assays, and multielement inductively coupled plasma. ALS is an accredited laboratory which is independent of the company. Gold assays were by fire assay fusion with atomic absorption spectroscopy finish on a 30-gram sample and the overlimit gold assay was completed by fire assay and gravimetric finish on 30-gram sample. Copper and silver were assayed by inductively coupled plasma atomic emission spectroscopy following a four-acid digestion on the ME-ICP61 package for a suite of 33 elements and the overlimit copper by four-acid digestion and assayed by ICP-AES on each sample with copper greater than 10,000 parts per million (1 per cent). Copper and gold standards as well as blanks and duplicates (coarse crush split) were randomly inserted into the sampling sequence for quality control. On average, 9 per cent of the submitted samples are quality control samples. No data quality problems were indicated by the QA/QC program.

We seek Safe Harbor.