Mr. Dan Symons reports

C3 METALS EXTENDS COPPER-GOLD PORPHYRY MINERALIZATION 150M AT PROVOST AT BELLAS GATE, JAMAICA; DRILL HOLE ENDED IN 1.1M AT 1.27% COPPER AND 4,090 G/T SILVER

C3 Metals Inc. has received assays for PVT0900-003, the third hole of the 2023 drilling program completed on the Provost porphyry target. The company is evaluating an extensive zone of near-surface porphyry and epithermal base and precious metal mineralization at Provost. Provost is located along a four-kilometre northwest trend at the company's 100-per-cent-owned Bellas Gate project in Jamaica.

Provost drill hole PVT0900-003 (418.6 metres), which was terminated 150 m short of target depth due to drilling difficulties in a fault zone, intersected 112 m at 0.35 per cent copper (Cu) and 0.13 gram per tonne (g/t) gold (Au) (0.44 per cent CuEq (copper equivalent)) from 305.8 m, with the last 1.1 m of the hole ending in high-grade epithermal-style mineralization grading 1.27 per cent copper and 4,090 g/t silver (Ag). This hole extended known copper-gold mineralization at Provost by 150 m to the northwest.

Drilling highlights:

• PVT0900-003 intersected 112 m at 0.35 per cent copper and 0.13 g/t gold (0.44 per cent CuEq) from 305.8 m and terminated in an epithermal vein, with the last 1.1 m of the hole grading 1.27 per cent copper and 4,090 g/t silver.
• Porphyry copper-gold mineralized zone extended by 150 m along strike from PVT0900-002, which intersected 390.7 m at 0.37 per cent copper and 0.19 g/t gold (0.50 per cent CuEq) from 64.1 m, including 279.5 m at 0.43 per cent copper and 0.24 g/t gold (0.60 per cent CuEq).
• Assays pending for completed drill holes PVT0900-004 (300.2 m) and CMH8275-001 (500.4 m).
• Drilling is well advanced on two additional holes.

Dan Symons, president and chief executive officer, stated: "The importance of PVT0900-003 expanding copper-gold mineralization 150 m to the northwest and ending in a high-grade epithermal copper-silver vein cannot be overstated. The intersection of metal-rich intermediate-high-sulphidation epithermal veins overprinting porphyry mineralization demonstrates the presence of a multiphase system with potential for both bulk tonnage copper-gold and high-grade precious and base metal vein deposits. Whilst two recent holes failed to achieve target depth due to drilling difficulties in fault zones, we are very excited by the assay results and drill core returned to date. With the knowledge gained on the ground conditions encountered recently, we intend to follow up on these highly promising intersections using modified drilling techniques better suited to achieving target depth and fully testing the depth extent of this large, mineralized system."

The company's man-portable rig is currently evaluating near-surface tonnage potential of porphyry- and epithermal-style base and precious metal mineralization at Provost. The larger contract rig is testing for depth extension to the copper-gold mineralization at Camel Hill.

At Provost, C3 Metals' man-portable drill rig is evaluating a 1,500 m by 350 m coincident alteration, geochemical and geophysical anomaly. Porphyry- and epithermal-style mineralization at Provost is capped by a late-stage volcanic conglomerate (lahar) that is interpreted to have preserved the system during late-stage hydrothermal activity.

Drilling to date confirms porphyry copper-gold mineralization is overprinted by intermediate- and high-sulphidation epithermal veins that extend to at least 400 m depth. The subsurface mineralized zone has been expanded a further 150 m northwest of PVT0900-002 (see press release dated Sept. 25, 2023). High-level porphyry copper-gold mineralization is overprinted by epithermal quartz veins with strong chalcopyrite and tetrahedrite mineralization. High-grade epithermal-style mineralization was anticipated at Provost, as much of the epithermal and porphyry hydrothermal systems remain intact. It is very positive to confirm this high-grade epithermal potential within the porphyry system at such an early stage in the program.

The upper section of PVT0900-003 intersected high-level, low-grade porphyry copper-gold mineralization that is predominantly hosted in intrusive rock types, assaying 103 m at 0.18 per cent copper, 0.10 g/t gold and 0.89 g/t silver from 48.1 m downhole. Higher-grade diorite-hosted copper-gold porphyry mineralization was intersected downhole, starting from 305.8 m. The final 1.1 m intersected extremely high-grade silver at 4,090 g/t and high-grade copper at 1.27 per cent. The hole had to be abandoned due to poor ground conditions, and this zone will be further tested from a collar located 400 m north of the PVT0900 drill pad location.

Despite abandoning the hole due to ground conditions, 70 per cent to 80 per cent core recoveries were achieved, and high-grade epithermal copper and silver mineralization were confirmed.

Drilling at Provost has traced porphyry- and epithermal-style mineralization along 400 m of strike length and approximately 400 m down dip. PVT0900-003 expands the northwest-striking mineralized zone an additional 150 m. Mineralization remains open along strike and at depth. The company is undertaking real-time modelling of important structural, lithologic and mineralized features at Bellas Gate, which is used to further refine the planned 8,500 m of drilling.

Next steps

Drilling at Provost continues to confirm well-developed porphyry and epithermal copper-gold mineralization and associated alteration zonation that remains open along strike and at depth. The company will continue to step out and test both lateral and depth extensions of the copper-gold-silver mineralization. Based on surface geologic mapping, and historical and recent drilling results, the Camel belt shows semi-continuous copper-gold mineralization over a four-kilometre strike length between Camel Hill and Provost. Drilling will continue to systematically evaluate this highly prospective porphyry and epithermal belt.

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

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 of 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 (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 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 (ICP). ALS is an accredited laboratory which is independent of the company. Gold assays were by fire assay fusion with atomic absorption spectroscopy (AAS) 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 (ICP-AES) 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.