C3 Metals Identifies Significant Porphyry and Epithermal Copper-Gold Potential at the Bellas Gate Project, Jamaica

Toronto, Ontario--(Newsfile Corp. - August 30, 2021) - C3 Metals Inc. (TSXV: CCCM) ("C3 Metals" or the "Company") is pleased to report that it has completed a comprehensive review of exploration data and associated follow up field assessment for the Company's 100% owned Bellas Gate property, located along the highly prospective porphyry belt of central Jamaica. Bellas Gate hosts over 40 known copper and gold prospects and mineral occurrences, including two advanced stage porphyry copper-gold prospects at Connors and Camel Hill and two highly prospective porphyry targets at Epidote Ridge and Coffee. This project evaluation has delineated compelling porphyry and epithermal vein targets which can rapidly be advanced to drill status.

Highlights of Historic Data Review and Recent Exploration Program at Bellas Gate Property

• 10 porphyry copper-gold and > 30 epithermal gold occurrences within a 5 x 3 km area

• Porphyry Cu-Au mineralization at Connors and Camel Hill prospects is open at depth and along strike; select historic drill results include:
  • Connors       114.0m @ 0.69% Cu, 0.52g/t Au in CON-14-004 (from 28.0m) ¹
  • Camel Hill    137.2m @ 0.56% Cu, 0.25g/t Au in CAM92-01 (from surface) ¹

• Porphyry style alteration and veining immediately adjacent to Connors and Camel Hill occurs coincident with discrete magnetic and IP chargeability anomalies and represents a compelling drill target for a concealed porphyry system

• Coffee porphyry target located along the Camel Hill - Connors porphyry trend displays favourable alteration and veining with copper mineralization, an excellent walk-up drill target

• Enriched epithermal vein systems at Stamford Hill, Dry Hill, Charing Cross, Elma, Victoria and Congo Hill prospects were exploited historically by the Spanish and British

• Over 50 historic copper occurrences identified at Arthurs Seat, located north of Bellas Gate; none of which have been evaluated or drill tested

Kevin Tomlinson, C3 Metals' CEO, stated, "Our Flagship Jasperoide Cu-Au skarn and porphyry drill program is well underway and with such a positive long-term outlook for commodities, the Company initiated a 12-week strategic review of its Bellas Gate and Main Ridge Projects in Jamaica. Without a doubt, Bellas Gate displays classic porphyry style alteration and geochemistry that one would expect to see in a well developed porphyry district. Historic Drilling at Connors and Camel Hill intersected +100m of high grade porphyry copper-gold mineralization and both systems appear to be at a high-level. A coincident magnetic and chargeability anomaly identified below Epidote Ridge mimics that of Camel Hill and Connors, but considerably larger in size. We are very excited about Epidote Ridge and Coffee, both are extremely compelling porphyry drill targets that appear adjoined to the Camel Hill and Connors porphyry systems.

C3 intends to unlock significant value of the Bellas Gate property by undertaking advanced stage exploration activities on the priority pipeline of copper-gold prospects, including Camel Hill, Connors, Epidote Ridge, Coffee, Provost, Hendley, Geo Hill and the Charing Cross - Stamford Hill epithermal system. We are extremely excited to get "boots on the ground" and define targets for drill testing. In the coming weeks we also look forward to providing an update on the highly prospective Main Ridge project, which the exploration team is currently evaluating."

The Central Inlier of Jamaica is an important copper-gold porphyry belt that is host to multiple high-level copper-gold porphyry systems and related gold-base metal quartz-carbonate epithermal style vein systems. Although Jamaica is a relatively unknown region for copper and gold exploration it is highly prospective as it lies within a significant structural corridor that is host to several large deposits to the east including Romero, Pueblo Viejo and Tanama (Figure 1).

Figure 1: Plate tectonic setting of Jamaica, showing nearby copper-gold deposits

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C3 Metals recently completed a detailed review of all historical data and undertook a follow up six-week field mapping, alteration and sampling program to assess the copper-gold potential at Bellas Gate.

Work was undertaken by the Company's Jamaica exploration team overseen by highly experienced consulting geologist, Imants Kavalieris. Imants was involved in the early discovery and development of the Oyu Tolgoi copper-gold porphyry deposit in Mongolia and spent many years at the giant Grasberg copper-gold porphyry and skarn district in Papua, Indonesia.

BELLAS GATE COPPER-GOLD POTENTIAL

The Crawl River Fault and associated splays act as first-order fluid conduits and are closely associated with a significant number of mineral prospects and occurrences at the Bellas Gate, Main Ridge and Arthurs Seat properties (Figure 2). An ASD spectrometer was used to accurately identify and map the alteration mineral assemblages at high priority copper and gold porphyry and epithermal targets.

Figure 2: C3 Metals location map, showing C3 Metals' mineral properties in Jamaica

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Bellas Gate hosts at least 10 copper-gold porphyry prospects and over 30 related gold-base metal quartz-carbonate vein prospects and mineral occurrences (Figure 3).

Figure 3: Bellas Gate property boundary showing copper-gold porphyry and epithermal vein prospects

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Connors - Camel Hill - Epidote Ridge (High Priority Porphyry Targets)

Connors and Camel Hill are the most advanced porphyry targets at Bellas Gate, both of which are located along the margins of a large epidote alteration zone ("Epidote Ridge" prospect) measuring 4,500m by 2,000m. The Connors and Camel Hill porphyry systems exhibit features commonly found in juvenile island arc settings, are gold-copper-magnetite rich and form cylindrical stocks that are several hundred meters in diameter. Helicopter-borne magnetic and Induced Polarization surveys identified coincident magnetic (magnetite alteration) and chargeability (sulphides) anomalies at each porphyry system. A total of 29 holes for 5,300m were completed at Camel Hill and 23 holes for 5,800m were drilled at Connors. Drilling successfully intersected broad zones of porphyry copper-gold mineralization associated with strong magnetite alteration. Select historic drill highlights include:

• Connors
  114.0m @ 0.69% Cu, 0.52 g/t Au in CON-14-004 (from 28.0m) ¹
  84.0m @ 1.00% Cu, 0.77 g/t Au in CON-14-005 (from 14.0m) ¹

• Camel Hill
  137.2m @ 0.56% Cu, 0.25g/t Au in CAM92-01 (from surface) ¹
  85.0m @ 0.52% Cu, 0.25g/t Au in CAM92-05 (from 3.40m) ¹

Porphyry style alteration and quartz veining are exposed in erosional windows at both Connors and Camel Hill (Figure 4). Field and drill core observations confirm high temperature porphyry style alteration and classic quartz stockwork and sheeted veins with disseminated chalcopyrite-bornite mineralization (Figure 5). Quartz veins extend into the andesitic volcanic wall rocks, which are locally strongly biotite-actinolite-magnetite altered. Peripheral to the Connors and Camel Hill porphyries are epidote and gold-base metal epithermal style quartz veins. Recent mapping confirms that the veins extend into a conglomerate that overlies the Bellas Gate andesite. The alteration and widespread occurrence of intermediate sulfidation gold-base metal quartz-carbonate veins suggest the porphyry systems at Bellas Gate are preserved at high level.

Figure 4: Map showing the Camel Hill - Connors - Coffee Epidote Ridge porphyry trend

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Figure 5: (Top Left) Quartz stockwork veins at Camel Hill and (Top Right) Strong copper mineralization in outcrop. (Bottom Left) Connors DDH CON-14-003 (124.0m) phyllic altered diorite cut by quartz stockwork veins assayed 0.69% Cu and 0.36g/t Au. (Bottom Right) Camel Hill CH12-01 (54.9m) magnetite - biotite altered andesitic volcanic rock cut by sheeted porphyry B-vein assayed 0.42% Cu and 0.18g/t Au.

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An exceptional feature at Bellas Gate is the Epidote Ridge prospect, where strong epidote alteration occurs over a nine square kilometre area and is interpreted to sit above a preserved deeper level porphyry stock similar to Connors and Camel Hill. It is postulated that multiple porphyry stocks occur beneath Epidote Ridge, with only Connors, Camel Hill and the Geo Hill porphyry systems exposed in erosional windows along its margins. A review of the geophysics data for Epidote Ridge shows coincident magnetic and IP chargeability anomalies at approximately 300m depth, an attractive target that has not been drill tested (Figure 6).

Figure 6: Coincident magnetic (Top) and IP Chargeability (Bottom) anomalies at Epidote Ridge, which are spatially associated with the Connors and Geo Hill porphyry systems.

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Coffee Porphyry Prospect

At the Coffee porphyry prospect, grid soils have defined a donut-shaped copper-in-soil anomaly measuring 1,200m by 1,500m surrounding a barren central core of post mineral limestone. At lower elevations on the margins of the barren core, quartz veins with malachite and tennantite / tetrahedrite were mapped in andesitic volcanic rocks (Figure 7). Similar to Connors and Camel Hill, the Coffee prospect displays a well-defined circular magnetic anomaly coincident with strong copper in soils representing a high priority drill target.

Figure 7: Coffee Prospect (Left) Outcrop sample with malachite and tennantite / tetrahedrite mineralization. (Right) Outcrop sample with quartz veins containing malachite.

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Charing Cross - Stamford Hill Epithermal Prospect

The Charing Cross - Stamford Hill system is the best example of epithermal intermediate style sulphidation mineralization in the Bellas Gate district. Historic records and results of previous drill programs indicate these veins carry significant chalcopyrite - bornite mineralization and are metre-scale in size (Figure 8). Recent mapping and data reviews indicate the mineralized structure extends for over 1,400m. Vein styles are similar to those common in porphyry copper systems and hosting multi-million-ounce gold veins e.g. Victoria Deposit at Lepanto, Philippines. In the 1860's high grade copper was mined at Charing Cross and Stamford Hill with grades up to 5% Cu².

Figure 8: Chalcopyrite-tennantite-tetrahedrite cementing hydrothermal breccia, in Charing Cross sample

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Summary

C3's Metals' 100% owned Bellas Gate Project is host to a pipeline of high-quality copper-gold porphyry targets, including the advanced stage Connors and Camel Hill deposits where strong copper-gold grade mineralization remains open for expansion. Recent field work and data reviews highlight compelling copper-gold targets at the Epidote Ridge and Coffee prospects. Several other high potential Cu-Au epithermal vein targets that cluster around the porphyry centres are present and can be rapidly advanced to the drill-ready stage.

Further information on recent and historical exploration data for Bellas Gate Mineral District can be found in the Company's NI43-101 report on the Bellas Gate Property on SEDAR (www.sedar.com) or located on our website at https://www.c3metals.com/projects/jamaica/bellas-gate/.

References for Historic Data

¹ 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.
² Refer to SEDAR NI 43-101 Technical Report entitled "NI 43-101 Technical Report on the Bellas Gate Property on SEDAR with effective date of October 31, 2014.
³ Pueblo Viejo M&I resources - Barrick Website: https://www.barrick.com/English/operations/pueblo-viejo/default.aspx
⁴ Romero Zone Resources Indicated and Inferred from Goldquest Website: https://www.goldquestcorp.com/index.php/projects/romero-project/romero-overview
⁵ Tanama Porphyry resources from USGS MRDS: https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10085423

For additional information, contact:

Kevin Tomlinson
President & CEO
ktomlinson@c3metals.com

Alec Rowlands
Vice President, Investor Relations
+1 416 572 2512
arowlands@c3metals.com

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 57km² 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 207 km² of highly prospective copper-gold terrain in Jamaica, and a 100% interest in two porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 km² within the Cascade Magmatic Arc in southwestern British Columbia.

Related Link: www.c3metals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

QP Statement

Stephen Hughes, P.Geo. is Vice President Exploration and a Director for C3 Metals and is a Qualified Person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information in this news release and approves the written disclosure contained herein.

COVID-19 Protocols

The Company continues to implement its COVID-19 safety protocols at site to ensure the safety of employees and the communities surrounding the Jasperoide project area.

Caution Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the exploration operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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