Mr. Dan Symons reports

C3 METALS EXPANDS PERMITTED DRILL AREA BY 74% AT JASPEROIDE COPPER-GOLD PROJECT, PERU

C3 Metals Inc. has received the authorization to start activities from the Peruvian Ministry of Energy and Mines for a recently modified declaration of environmental impact permit (the drill permit).

The modified Drill Permit increases the area permitted for exploration drilling by 74% and consists of an additional 24 drill platforms and 53 additional drill holes (Figure 3). This increase to the Drill Permit area will allow C3 Metals to systematically test two additional skarn targets: Cresta Verde ("CVZ") and Callejon De Oro ("COZ"). These skarn targets are immediately to the northwest and south of the Montana de Cobre ("MCZ") skarn deposit. With positive initial results from an ongoing drill program at Bellas Gate, Jamaica (see press release dated September 25, 2023), a decision to restart drilling at Jasperoide is unlikely to be taken until the current drill program at Bellas Gate is completed.

The MCZ deposit hosts the following near surface mineral resources1:

Measured & Indicated Mineral Resources - 51.9 million tonnes ("Mt") at 0.50% total copper and 0.20 g/t gold for 569.1 million pounds of copper and 326,800 ounces of gold.

Measured Mineral Resources - 28.6Mt at 0.60% total copper, 0.24 g/t gold for 380.0M pounds of copper and 218,200 ounces of gold.

Indicated Mineral Resources - 23.3Mt at 0.37% total copper, 0.15 g/t gold for 189.1M pounds of copper and 108,600 ounces of gold.

Inferred Mineral Resources - 4.0Mt at 0.32% total copper, 0.11 g/t gold for 28.3M pounds of copper and 14,600 ounces of gold.

1 Based on the assumptions and parameters as outlined in the NI 43-101 Technical Report titled "Jasperoide Copper-Gold Project Cusco Region, Peru" dated July 5, 2023. Qualified Persons: Michael G. Hester (FAusIMM), Independent Mining Consultants, Inc., Simon Mortimer (M.Sc., FAIG), Atticus Geoscience Consulting S.A.C. and Adam Johnston (FAusIMM(CP)), Transmin Metallurgical Consultants.

Dan Symons, President and CEO of C3 Metals, commented, "With the modified Drill Permit approved, we are now able to continue exploration drilling at our Jasperoide project in Peru, subject to capital allocation decisions. The MCZ deposit within the Jasperoide project is the first of 13 copper-gold skarn targets tested along a 28km magnetite belt. We believe there is potential for multiple deposits across this belt similar to MCZ. Our goal is to prove up additional copper-gold skarn deposits of similar size and grade to support a 50,000 tonne per annum copper cathode production hub in this world-class copper-gold district."

The 30,000-hectare Jasperoide project consists of approximately 24,000 hectares titled concessions and an additional 6,000 hectares that have been approved and are awaiting official title. This 30,000-hectare land package sits within 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). The Haquira copper development project (First Quantum Minerals) is located nearby along with multiple exploration projects held by large producers (BHP, Barrick, Fresnillio, Rio Tinto and others) (Figure 1).

C3 Metals has identified 13 skarn targets along the Jasperoide belt on the eastern side of its property and multiple skarns and an outcropping porphyry target on the Khaleesi belt on the western side of its property (Figure 2). Since acquiring its initial 5,700 mineral concession package in 2020, C3 Metals has expanded its mineral concession footprint by 426% to approximately 30,000 hectares. The Company views this package as highly strategic given its geologic potential and proximity to multiple operating mines.

C3 Metals believes that CVZ and the MCZ deposit formed during the same hydrothermal mineralizing event and are erosion remnants of a larger skarn body. In limited drilling at CVZ (7 holes for 3,500m), the presence of strong sulphide mineralization and porphyry fragments in drill core provide geological evidence for a blind porphyry deposit. C3 Metals geologic modelling suggests this potential lies at depth to the northwest of CVZ. With the Drill Permit modification approved and the Authorization to Start Activities now received, the Company is in the position to systematically drill test this interpretation. Figure 3: C3 Metals' Drill Permit area showing the original permit area (dashed black) and the modified permit area (blue). The approved permit modification represents a 74% increase to the Drill Permit area and allows for an additional 24 drill platforms and 53 holes. To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2661/181846_3dd1ae0fd428d858_003full.jpg

ABOUT C3 METALS INC.

C3 Metals Inc. 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 30km 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 28km belts. The Company has published a maiden resource estimate on the first of these skarn targets, which contained Measured & Indicated Resources of 52Mt at 0.5% copper and 0.2 g/t gold.

QP Statement

Stephen Hughes, P.Geo. 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 QA/QC 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 are analysed by 4-Acid digest ICP-MS finish for 63 elements, including pathfinder REE elements with pulps from samples reporting greater than 1.0% copper being re-assayed by the ore grade method. Gold is analysed by 30g Fire Assay AAS finish, with pulps from samples reporting greater than 5ppm re-assayed by 1kg Screen Fire Assay. The Company inserts blanks and certified reference standards in the sample sequence for quality control.

We seek Safe Harbor.