CCCM.V · 2023-08-08 12:00:00

C3 Metals Commences Follow Up Drilling to Expand Porphyry Copper-Gold Mineralization at Bellas Gate, Jamaica

Drill Results Exploration Programs

C3 Metals Commences Follow Up Drilling to

Expand Porphyry Copper-Gold Mineralization

at Bellas Gate, Jamaica

Toronto, Ontario--(Newsfile Corp. - August 8, 2023) -

C3 Metals Inc.

(TSXV: CCCM) (OTCQB: CUAUF)

("C3 Metals" or the "Company") is pleased to announce that two drill rigs have been mobilized to

Jamaica to commence follow up drilling at the Company's highly prospective Bellas Gate copper-gold

project in Jamaica.

C3 Metals holds a 100% interest in the Bellas Gate, Arthurs Seat and Main Ridge

licenses that cover an extensively mineralized porphyry/epithermal copper-gold district along the Crawle

River-Rio Minho fault zone ("CRFZ") (Figure 1).

BC Diamond Drilling ("BCDD") have been contracted for a minimum of 6,000 metres of diamond drilling

using a drill rig with a depth capacity of greater than 1,000 metres, and C3 Metals has purchased a man-

portable rig to drill an initial 2,500 metres testing near surface porphyry and epithermal prospects to a

nominal vertical depth of approximately 400 metres.

Dan Symons, President and CEO of C3 Metals commented

, "The average depth of all previous drilling

is less than 225 metres, and over 40% of all drill holes ended in strong copper-gold mineralization.

Airbourne magnetic and IP geophysics data indicate that multiple near-surface porphyries may

converge at depth into a very large system.

Based on historical drilling, our 2022 drill program and an

extensive remapping campaign, we have identified multiple high-level copper-gold porphyries

clustered along two discrete northwest trending belts at Bellas Gate.

"We are pleased to announce that two drill rigs have been mobilized to Jamaica: a large rig capable of

testing the depth extent of our highest priority porphyry targets, and a Company-owned, man-portable

rig that will cost effectively test the near surface strike extent of these porphyry and epithermal

systems.

The objective of this drilling program is to determine both the extent of the near surface

porphyry copper-gold mineralization intersected to date and to test the deeper parts of these systems

for a high-grade core.

With 16 porphyry and 40 epithermal targets identified over a 30km strike extent,

there is no shortage of drill-ready targets.

With both rigs now mobilized to Jamaica, we are pleased to

announce that the drill program is commencing."

Program Highlights

CRFZ is an emerging, new porphyry and epithermal district that extends for over 30km with 16

porphyry and 40 epithermal prospects identified to date from Bellas Gate to Main Ridge (Figure

1).

The Bellas Gate project is transected by two district-scale structural features, referred to as the

Camel and Connors Belts (Figure 2).

Previous drilling by C3 Metals and others has confirmed near surface copper-gold mineralization

at multiple porphyry centres along these belts, including:

Connors

309.0m at 0.44% Cu, 0.33g/t Au

(from 15m) in hole CON9325-001 (refer to

press release dated September 12, 2022).

Camel Hill

178.5m at 0.37% Cu, 0.16g/t Au

(from 10m) in hole CMH8400-001 (refer to

press release dated November 28, 2022).

Provost

292.0m at 0.30% Cu, 0.14g/t Au

(from 29m) in hole PVT-16-002

Geo Hill

158.2m at 0.32% Cu, 0.15g/t Au

(from 3m) in hole GE092-01

Historical drilling is shallow, with an average hole depth of less than 225 metres for porphyry

prospects and less than 200 metres for epithermal prospects.

The BCDD rig enables C3 Metals to evaluate the depth and grade potential of multiple porphyries

where over 40% of previous drilling terminated in strong copper-gold mineralization.

Figure 1: C3 Metals' Bellas Gate, Arthurs Seat and Main Ridge projects in Jamaica with Total Magnetic

Intensity (TMI), showing 16 porphyry and over 40 epithermal prospects over a 30km trend. Historical

adits and shafts are located to the south of several of the porphyry targets.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/2661/176223_4e94a4b054b4b8ff_001full.jpg

Figure 2: C3 Metals's Bellas Gate project location map showing reinterpreted geology and high priority

copper-gold porphyry and epithermal prospects along two porphyry and epithermal copper-gold belts.

Note the long section line from Camel Hill northwest to Provost, which is shown in Figure 3.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/2661/176223_4e94a4b054b4b8ff_002full.jpg

2023 Drilling Program

Historical drilling at Bellas Gate is generally shallow, with an average hole depth of less than 225m for

porphyry prospects and less 200m for epithermal vein prospects.

Over the past six months the Company's exploration team undertook detailed mapping across the entire

Bellas Gate project.

Mapping and structural data was compiled and incorporated into a 3D geology

block model, which shows two district-scale structural features referred to as the Connors and Camel

belts (Figure 2).

Clusters of high-level, copper-gold porphyries occur along each belt, with widespread

intermediate-sulfidation epithermal vein style copper, gold and silver mineralization distal to the

porphyries.

All known porphyries at Bellas Gate are gold-rich, with chalcopyrite-pyrite mineralization dominantly

hosted in volcanic andesite rocks and less commonly in diorite porphyry dykes and stocks.

drilling confirms copper-gold mineralization is open at depth and along strike.

The current drill program

will target higher-grade, bornite-rich mineralization that is typically associated with the core of these

systems.

An initial 6,000-metres of deeper drilling (6-8 holes X 700m-1100m in depth) and 2,500-metres of

shallow drilling (10 holes X 100m-500m in depth) is planned at Bellas Gate.

The objective of planned

drilling is two-fold:

Demonstrate continuity of copper-gold mineralization below 400 meters vertical depth at multiple

porphyry prospects and test for increased copper-gold grades in the bornite-rich potassic altered

cores typical of porphyry systems.

Evaluate and expand the strike extent of the known near-surface porphyry mineralization and test

new priority porphyry and epithermal-vein prospects.

Figure 3: Long section (~4km) through the Camel Hill - Geo Hill - Provost porphyry cluster showing iso-

surfaces of the magnetic inversion model. Note the three planned drill holes, which will test below broad

intersections of copper-gold mineralization in previous drilling where the average drill depth is only

225m.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/2661/176223_4e94a4b054b4b8ff_003full.jpg

References for Historical Data

Data from the above drill results are historical results and it is unknown what type of quality-control programs were performed at the time.

The QP

also advises that true width of the above results cannot be determined at this time.

Stock Option Grant

Pursuant to the Company's stock option plan approved by shareholders at its Annual General and

Special meeting held on March 3, 2023, the Board of Directors has granted 16,200,000 stock options to

directors, officers, employees, and consultants of the Company.

A total of 6,250,000 options will vest

immediately, while 9,950,000 options will vest over a period of 12 months, subject to regulatory

acceptance.

After vesting, each incentive stock option will allow the holder to purchase one common

share in the Company at a price of CAD $0.05.

The incentive stock options have a term of five years,

expiring on August 8, 2028 or following departure of the option-holder.

Following this stock option grant,

the Company will have a total of 51,160,000 stock options outstanding, representing approximately

7.42% of the outstanding common shares of the Company.

For additional information, contact:

Dan Symons

President and CEO

+1 416 716 6466

[email protected]

ABOUT C3 METALS INC.

C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value through

the discovery and development of large copper and gold deposits.

The Company holds the 24,000-

hectare Jasperoide project 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).

C3 Metals also

holds a 100% interest in five licenses covering 20,700 hectares of highly prospective copper-gold terrain

of Jamaica.

Mining dates to the 1600s and 1800s when Spanish and British mining companies targeted

high grade copper in veins.

The Company also holds a 2% royalty in Tocvan's Rogers Creek project.