CCCM.V · 2024-09-23 12:00:00

C3 Metals Announces Fully Subscribed $4.5 Million Private Placement Financing

Financings

C3 Metals Announces Fully Subscribed $4.5

Million Private Placement Financing

Toronto, Ontario--(Newsfile Corp. - September 23, 2024) -

C3 Metals Inc.

(TSXV: CCCM) (OTCQB:

CUAUF) ("C3 Metals" or the "Company") is pleased to announce it has arranged a non-brokered private

placement of 15,000,000 common shares (each, a "

Common Share

") in the capital of the Company at

a price of $0.30 per Common Share for gross proceeds of $4.5 million (the "

Placement

").

The anticipated closing date of the Placement is October 9, 2024.

Closing of the Placement is subject to

receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture

Exchange ("

TSXV

").

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% cash commission on the value of Common Shares

issued to subscribers to qualified finders in Canada in connection with the Placement.

Any finder fees

paid would be in accordance with TSXV policies.

Proceeds from the Placement will be used primarily for exploration programs at the Company's projects

in Jamaica; for exploration programs, permitting and property costs for Company projects in Peru; and,

for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. The securities have not been and will not be registered under the United

States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and

may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.

Securities Act and applicable state securities laws or an exemption from such registration is available.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT

AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

For additional information, contact:

Dan Symons

President and CEO

+1 416 716 6466

[email protected]

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

holds approximately 30,000 hectares located in the prolific high-grade Andahuaylas-Yauri Porphyry-

Skarn belt of Southern Peru.

Mineralization is hosted in a similar geological setting to the nearby major

mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore).

The

Company has identified over 15 skarn prospects and two porphyry prospects 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.

The Company is

also actively exploring in Jamaica where it has identified 16 porphyry, 40 epithermal and multiple

volcanic redbed copper prospects over a 30km strike extent.

The Company holds a 100% interest in

17,855 hectares of exploration licenses and a 50% interest in 9,870 hectares in a joint venture with

Geophsyx Jamaica Ltd, the largest mineral tenure holder in the country.

Barrick Gold Corp. announced

on May 1, 2024 that it had entered into an earn-in agreement with Geophysx Jamaica Ltd. on

approximately 400,000 hectares of exploration licenses, several of which surround C3 Metals' mineral

concessions.

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).