CCCM.V · 2023-11-06 12:00:00

C3 Metals Increases Private Placement Financing to $8,050,000 Due to Strong Demand

Financings

C3 Metals Increases Private Placement

Financing to $8,050,000 Due to Strong Demand

Toronto, Ontario--(Newsfile Corp. - November 6, 2023) -

C3 Metals Inc.

(TSXV: CCCM) (OTCQB:

CUAUF) ("C3 Metals" or the "Company") announces that due to strong investor demand the Company

has increased its previously announced non-brokered private placement from $7,000,000 to

$8,050,000.

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 November 1, 2023, the Company announced that it had arranged a fully subscribed non-brokered

private placement of 100,000,000 common shares at a price of $0.07 per common share for gross

proceeds of $7,000,000.

Following the upsizing, the Company will now be issuing up to 115,000,000

common shares at a price of $0.07 per common share for gross proceeds of up to $8,050,000 (the

"Placement").

The anticipated closing date of the Placement remains November 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 ("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 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 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.

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.

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

is actively exploring in Jamaica where it has identified 16 porphyry and 40 epithermal prospects over a

30km 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 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.