CCCM.V · 2022-01-12 12:00:00

C3 Metals Resumes Drilling at Jasperoide - Geophysics Defines Porphyry Targets

Exploration Programs

C3 Metals Resumes Drilling at Jasperoide -

Geophysics Defines Porphyry Targets

Toronto, Ontario--(Newsfile Corp. - January 12, 2022) -

C3 Metals Inc.

(TSXV: CCCM) (OTCQB:

CUAUF) ("C3 Metals" or the "Company") is pleased to announce the 2022 exploration program at the

Company's Jasperoide Project is well underway with a larger drill rig expected on site early February to

replace a smaller capacity rig.

A Hybrid Controlled Source Audio-Magnetotelluric ("Hybrid CSAMT")

survey test was completed over the Montaña de Cobre and the Cresta Verde zones, which has identified

probable feeder structures linked to a potential causative copper-gold porphyry system at depth.

The

larger drill rig has the depth capacity to test these targets.

The existing rig will continue drilling on the

Montaña de Cobre zone to further extend and evaluate the oxide copper-gold deposit delineated to date

until it is changed out.

Survey highlights:

Newly acquired Hybrid CSAMT geophysical data indicates a potential causative intrusion at depth

central to mineralization at the Montaña de Cobre and Cresta Verde zones

Strong resistivity features are identified at the intersection of the regional-scale Benoni and

Constancia Faults which transect the large-scale Las Bambas and Constancia copper mines

respectively

3D geophysical modelling highlights a potential cluster of intrusive bodies linked to mineralizing

fault conduits confirming earlier geological models for Jasperoide

The Hybrid CSAMT survey has been extended to rapidly cover the entire area permitted for

exploration and drilling over the next month

A second deeper capacity drill rig is being mobilized to site to test these compelling concealed

copper-gold porphyry and stacked skarn targets

Steve Hughes, Vice President, Exploration of C3 Metals commented

"Hybrid CSAMT is recognized by the industry as an excellent geophysics tool to identify structures

that mineralizing fluids systems exploit, and can provide reliable data to a depth of over 1,500 metres

or more.

This trial survey has been immensely successful at delineating deep-seated, large-scale

feeder structures at Jasperoide.

Feeder structures, mineralized porphyry fragments and mineralization

/ alteration styles are important vectors that provide further evidence that a potential large-scale

porphyry system occurs at depth.

We look forward to testing deeper levels of the system with the

arrival of a bigger rig in early February."

Kevin Tomlinson, President and CEO of C3 Metals added,

"Our 2021 program demonstrated the potential for high-grade, copper-gold deposits at Jasperoide.

Now, with the oversubscribed +$19 million financing recently in hand, we have the treasury to not only

expand the known high-grade deposit but to drill for the "elephant", a potential billion ton porphyry

copper deposit.

The combination of a growing near surface high-grade, copper-gold oxide skarn

deposit and multiple large-scale porphyry copper targets provides C3 Metals with a compelling

opportunity to grow an exciting new mid-tier copper company."

Hybrid Controlled Source Audio-Magnetotelluric Survey

A Hybrid CSAMT geophysical survey was undertaken and completed in December 2021 to augment

previously completed ground IP, geochemical, geological, airborne magnetic and radiometric surveys.

HSAMT is used as an exploration tool to identify resistive and conductive features that typically correlate

to structure, zones of silicification and clay alteration, to depths of over 2 kilometres.

Data from the

survey has outlined regionally important structures which appear to relate to the large, nearby copper

deposits at Constancia and Las Bambas (Figure 1).

Figure 1: Jasperoide location map showing important deposits and structural trends

To view an enhanced version of Figure 1, please visit:

https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_001full.jpg

Inversion of the Jasperoide Hybrid CSAMT data outlines multiple deep and shallow resistive and

conductive features (Figure 2).

Two well-defined NNW-SSE trending linear and contiguous resistive

features (+100m in width) are coincident with the Constancia Fault which trends from the Constancia

copper mine 35km to the southeast and is an important structural feature at Jasperoide.

Both resistive

features are sub-vertical and bisect the Benoni Fault, an important east-west trending structural feature

which appears to trend toward the Las Bambas copper mine 40km to the west (Figures 1 and 2).

Hydrothermal alteration and geophysical features within the footprint of the large resistive features are

also potentially indicative of a concealed causative porphyry.

The linear resistive features are kilometre-size in scale and show significant depth extent, coalescing at

depth to where a concealed mineralized porphyry centre is interpreted.

Pseudo sections for lines L600

and T3600 clearly illustrate sub-vertical resistive features and a larger resistive feature at depth (Figure

2) which the Company will test with the larger rig.

Survey Parameters

The Hybrid CSAMT survey was carried out by Geofisica TMC, a company based in Val D'Or Quebec

with divisions operating in Mexico and the United States.

Data points were collected on grid lines

oriented ENE-WSW and NNW-SSE using 100m and 200m station spacings, covering an area of

approximately 2.5km x 1.5km.

Overall, data quality is considered well above average and no stations

were affected by power lines, steep terrain, houses or roads.

Results were compiled into sections, grid maps and a 3D Voxel model.

Inversion sections were gridded

using the Kriging method at a cell size of 25 metres.

Readings are statistically averaged based upon

adjacent points to produce an associated value for each cell.

Geofisica TMC provide high confidence in

readings to a depth of 1,500 metres and readings to 2,500 metres in some locations are also

considered valid.

Figure 2: Hybrid CSAMT geophysical survey data for 3900m elevation and stations on satellite imagery.

To view an enhanced version of Figure 2, please visit:

https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_002full.jpg

Figure 3: (Left) Hybrid CSAMT geophysical survey data for line T3600.

(Right) Hybrid CSAMT

geophysical survey data for line L600.

Refer to Figure 2 for line locations.

To view an enhanced version of Figure 3, please visit:

https://orders.newsfilecorp.com/files/2661/109792_6edd09f9d443a839_003full.jpg

Near Term Forward Strategy

The Company is expediting the expansion of the Hybrid CSAMT survey to cover the entire permitted

area, which is expected to take a month to complete.

Drilling continues on the northern part of the

Montaña de Cobre zone where grid soils defined a large copper in soil anomaly that has never been drill

tested.

After drilling is completed at the Montaña de Cobre zone, the rig will be moved to the Cresta

Verde zone to test a large resistive feature proximal to the massive sulphides and mineralized skarn

intersected in drill hole JAS4350-02.

The larger rig capable of testing for stacked skarns and the potential porphyry system to depth is

scheduled to arrive shortly.

This rig will test multiple porphyry targets identified by the Hybrid CSAMT

survey at both the Montaña de Cobre and the Cresta Verde zones, including sub-vertical resistive

features which represent high potential targets for sizeable epithermal gold-copper systems.

For additional information, contact:

Kevin Tomlinson

President & CEO

[email protected]

Alec Rowlands

Vice President, Investor Relations

+1 416 572 2512

[email protected]

ABOUT C3 METALS INC.

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

shareholders through the discovery and development of large copper and gold deposits. The Company's

flagship project is the 57km

Jasperoide high-grade copper-gold skarn and porphyry system located in

the prolific 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 207km

of highly prospective copper-gold terrain in Jamaica and an interest in two porphyry

copper-gold properties within the Cascade Magmatic Arc in southwestern British Columbia: a 100%

ownership in the Mackenzie project covering 125 km

and a 2% royalty in Tocvan's Rogers Creek

project.