Mr. Dan Symons reports

C3 METALS ANNOUNCES EFFECTIVE DATE OF PREVIOUSLY ANNOUNCED SHARE CONSOLIDATION

Further to the news release dated Nov. 1, 2023, C3 Metals Inc. has received approval from the TSX Venture Exchange for its one-for-13 share consolidation. The consolidation will be effective at market open on Dec. 19, 2023. The company will continue to trade under the symbol CCCM on the TSX Venture Exchange and under the symbol CUAUF on the OTC Markets.

Dan Symons, president and chief executive officer, continued: "We are undertaking a share consolidation from a position of strength. We have been providing positive drill results from our Bellas Gate project in Jamaica, leading up to this consolidation. After closing an oversubscribed and upsized private placement of $8.05-million on Nov. 15, 2023, we believe we are in an excellent position to continue to gain momentum through a well-funded and expanded drill program in Jamaica. Cleaning up the share structure is important to attract new institutional investors. With our recent positive exploration results, combined with the news flow we expect to generate from a well-funded and extended exploration program, we believe it is the right time to consolidate our share structure since we are doing so from a position of strength."

As a result of the consolidation, the number of outstanding common shares of the company will be reduced from 804,504,235 to approximately 61,884,941 subject to adjustment for rounding. No fractional shares will be issued in connection with the consolidation. If a holder of shares would otherwise be entitled to a fraction of a share, then the number of postconsolidation shares issuable to such shareholder shall be rounded down to the next lower whole number. Each shareholder's percentage ownership in the company and proportionate voting power will remain unchanged after the consolidation, except for minor changes and adjustments resulting from the treatment of any fractional shares. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of shares issuable with respect to any of the company's outstanding convertible securities will be proportionately adjusted in connection with the consolidation.

Common shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the consolidation ratio through each shareholder's brokerage account. Non-registered shareholders should consult with their broker for further information. A letter of transmittal describing the process by which registered shareholders may obtain new certificates representing their consolidated common shares has been mailed to registered shareholders by the company's transfer agent TSX Trust Company. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. A copy of the letter of transmittal has been posted on the company's issuer profile on SEDAR+.

The company's new Cusip is 22945L402, and the ISIN is CA22945L4029.

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-kilometre strike extent across its 20,700-hectare exploration licence 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-kilometre 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.

We seek Safe Harbor.