Mr. Dan Symons reports

C3 METALS INCREASES PRIVATE PLACEMENT FINANCING TO $8,050,000 DUE TO STRONG DEMAND

Due to strong investor demand C3 Metals Inc. has increased its previously announced non-brokered private placement from $7-million to $8.05-million.

Dan Symons, president and chief executive officer, stated: "The exceptional support from key existing and new investors places us in a strong position to advance exploration drilling at our Jamaican projects where we remain active with two drill rigs. Drilling continues to test both lateral and depth extensions of copper-gold mineralization at multiple target areas within the porphyry and epithermal belts in Jamaica. Additional drill results are anticipated in the coming weeks."

On Nov. 1, 2023, the company announced that it had arranged a fully subscribed non-brokered private placement of 100 million common shares at a price of seven cents per common share for gross proceeds of $7-million. Following the upsizing, the company will now be issuing up to 115 million common shares at a price of seven cents per common share for gross proceeds of up to $8.05-million.

The anticipated closing date of the placement remains Nov. 15, 2023. Closing of the placement is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the placement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The company may pay up to a 6.0 per cent cash commission to qualified finders in Canada in connection with the placement. Any finder fees paid would be in accordance with TSX-V policies.

Proceeds from the placement will be used primarily for continued exploration programs in Jamaica in addition to exploration and property costs for the Jasperoide, Peru, project and for working capital and general corporate purposes.

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 30-kilometre 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 tons at 0.5 per cent copper and 0.2 gram per ton gold.

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