Drilling Program On The Camel Hill Cu-Au Prospect

TORONTO - C3 Metals Inc. has received assays for the first drill hole of the 2023 program at the Camel Hill copper-gold porphyry prospect. Camel Hill is approximately 4km southeast from the Provost porphyry within C3 Metals' Bellas Gate project, where the Company recently announced excellent drill results. CMH8350-001 assayed 207.8m at 0.43% copper and 0.20 g/t gold (0.57% CuEq) from 22.0m, including 135.0m at 0.52% copper and 0.27 g/t gold (0.71% CuEq). Lower half of the CMH8350-001 intersected strongly altered diorite porphyry with pyrite-rich (5-15%) quartz stockwork veining. Diorite appears to be cut by an interpreted diatreme breccia to the west. Assays pending for two further completed drill holes at Provost (PVT0900-003 - 418.6m) and Camel Hill (CMH8275-001 - 504.3m). Diatreme breccia with vuggy residual quartz fragments indicates preserved high-sulphidation alteration and mineralized system at depth. Two additional drill holes are well advanced. Provost drill hole PVT0900-002 intersected 390.7m at 0.37% copper and 0.19 g/t gold (0.50% CuEq), including 279.5m at 0.43% copper and 0.24 g/t gold (0.60% CuEq).

Dan Symons, President and CEO, said, "After reporting strong initial results at the Provost porphyry approximately 4km from Camel Hill, we now have intersected even higher grade copper-gold mineralization, essentially from surface, in the first drill hole of this program at Camel Hill. Drilling to test for depth extensions of the Camel Hill mineralization is currently underway. Over time we intend to systematically drill test this entire 4km porphyry footprint extending from Camel Hill to Provost. Assays are pending for multiple drill holes, all of which display visible copper sulphide mineralization."

The Company is evaluating a cluster of high priority copper-gold porphyry and associated epithermal targets that extend from Camel Hill to Provost. Drilling has two goals: firstly, building a significant volume of near-surface copper-gold mineralization and secondly, delineating higher-grade, bornite-rich potassic cores commonly found in most economic porphyry systems.

A total of 32 drill holes have been completed at the Camel Hill area and approximately 80% of these drill holes are vertical; multiple holes were completed in BQ core size. Some drill collar locations of historical holes could not be field confirmed with the degree of accuracy required.

CMH8350-001 was designed to test the western extension of copper-gold mineralization beyond drill hole CAM92-06, which terminated in copper mineralization. CMH8350-001 intersected an interpreted diatreme breccia west of CAM92-06, which appears to be syn-mineral and potentially venting off the shoulder or top of a second porphyry system at depth. The breccia contains fragments of pyrite-mineralized intrusive, andesite volcanic fragments and vuggy residual quartz fragments, indicating a potential high-sulphidation mineralized system at depth.

Drilling at Camel Hill confirms a high-level "bell-type" porphyry system overprinted by intermediate sulphidation epithermal copper-gold mineralization. Copper mineralization comprises disseminated chalcopyrite and chalcopyrite in veins hosted by strongly altered andesites and intrusive diorites and monzodiorites. Drill results continue to support the interpretation of a well-developed and fertile hydrothermal system extending over 4km from Camel Hill to Provost.

Drilling at Bellas Gate continues to evaluate two parallel copper-gold porphyry and epithermal belts using two rigs. The Company's man-portable rig is currently drilling a porphyry copper-gold system at Provost that is overprinted by high and intermediate sulphidation epithermal style mineralization. The larger capacity contract rig has just commenced the first deep hole of the program at Camel Hill.