C3 receives approvals to start drilling at Khaleesi

Mr. Dan Symons reports C3 METALS OBTAINS ALL REGULATORY APPROVALS REQUIRED FOR MAIDEN DRILL PROGRAM AT KHALEESI COPPER-GOLD PROJECT, PERU C3 Metals Inc. has obtained all regulatory approvals required to commence exploration drilling at its 100-per-cent-owned Khaleesi copper-gold project. Regulatory approvals include: Surface access and drilling agreements with the Cancahuani community (social licence); Declaracion de Impacto Ambiental or DIA (environmental permit); Autorizacion de Inicio de Actividades de Exploracion (Authorization to Start Exploration Activities); Autorizacion de Uso de Agua (Authorization of Use of Water). Dan Symons, president and chief executive officer, stated: "Khaleesi has long been a top geological target in our portfolio. We are very pleased that all necessary approvals are in hand for our first drill campaign at this exciting property. Concurrent with the drill permitting process, we generated a substantial amount of technical data through geologic mapping, geochemical and geophysical programs. It's quite remarkable that within such a well-known, world-class copper producing district we will be the first company to ever conduct exploration drilling on this highly prospective property. We anticipate we will commence an initial 6,000-metre diamond drill program in September, 2025." Khaleesi represents a rare opportunity to explore an undrilled copper-gold mineralized skarn, epithermal and porphyry prospect on the well-known, world-class Andahuaylas-Yauri porphyry-skarn belt. The company has strategically amalgamated a significant mineral concession package of over 31,000 hectares within 45 km of the large Las Bambas (MMG) and Constancia (Hudbay Minerals) copper mines. Several major and intermediate mining companies hold mineral concessions surrounding C3 Metals' package and in the district. Khaleesi is located eight kilometres west of the company's Jasperoide project, where the company confirmed 13 skarn prospects along a 28 km iron-skarn belt. Montana de Cobre (MCZ) is the only skarn the company has systematically drill tested to date, yielding a near-surface measured and indicated mineral resource of 51.9 million tonnes at 0.50 per cent total copper and 0.20 gram per tonne gold for 569.1 million pounds of copper and 326,800 ounces of gold. Recent geophysical surveys identified large, coincident magnetic (Mag), induced polarization (IP) and magnetotelluric (MT) anomalies at Khaleesi (see press release dated Aug. 6, 2025). These geophysical anomalies coincide with a recently defined high-grade copper-molybdenum in soil anomaly measuring 1,900 m by up to 650 m and a high-grade copper-zinc in soil anomaly measuring 470 m by 400 m (see press release dated Feb. 19, 2025). Highlights of the Khaleesi exploration program to date The mag survey confirms a large, near-surface magnetic body that separates into two bodies at depth. This mag anomaly is coincident with IP chargeability and resistivity anomalies and areas with high copper geochemistry in soils. The IP survey defined two discrete near-surface IP chargeability anomalies with coincident resistivity anomalies, which extend to the maximum depth for this IP survey reliability of approximately 600 vertical metres. Soil geochemical sampling defined a 1,900 metres long by up to 650 m wide copper-molybdenum soil anomaly, with two priority zones averaging 950 parts per million copper and 650 ppm copper in soils. For reference, copper in soils at or above 300 ppm is considered anomalous and is a high priority for further exploration. Skarn zone -- IP chargeability and coincident resistivity low anomaly correlates with a 470 m by 400 m copper-zinc soil anomaly averaging 1,260 ppm copper that is open along-strike to the north, south and to depth. South zone -- IP chargeability and coincident resistivity high anomaly correlate with a 800 m by 400 m copper-molybdenum in soil anomaly averaging 950 ppm copper where porphyry-style copper mineralization has been mapped at surface. MT/AMT survey shows a large conductive body coincident with the IP and magnetic anomalies, which also extends to depth. Field mapping confirmed a 3.3-square-kilometre porphyry, skarn and epithermal alteration zone. Outcrop samples assayed up to 2.82 per cent copper, 6.0 g/t gold, 57.7 g/t silver and 403 ppm molybdenum (see press releases dated Oct. 22, 2024, and Jan. 8, 2025). Coincident geophysical anomalies, along with the recently defined copper-in-soil geochemical anomalies, provide further support for the interpretation of a potentially significant porphyry, skarn and epithermal copper-gold hydrothermal system at Khaleesi. Grid soils defined a 470 m by 400 m wide copper-zinc in soil anomaly, with soils averaging 1,260 ppm copper and 450 ppm zinc. Grid soils also defined a significant copper-molybdenum anomaly, which extends for over 1,900 m by up to 650 m; two discrete zones average 950 ppm and 650 ppm copper, respectively. Soil sampling also covered a 1.3 square km area with a thin glacial till cover, varying from less than one m to 15 m in thickness. Glacial till appears to conceal interpreted extensions of the skarn and porphyry mineralized zones. The geophysical data supports the interpretation of the connection of these zones beneath the till occurrence. Next steps Initial mapping and sampling at Khaleesi defined an alteration footprint spanning 1,500 m by 1,000 m. Subsequent soil sampling defined multiple large scale and coherent copper-in-soil anomalies located over a significant zone of mapped porphyry-skarn-epithermal styles of mineralization. Recently acquired mag, IP and MT data provide further evidence for a sizeable system that appears to connect in the central project area beneath the glacial till occurrence. Based on all data collected to date, the Khaleesi project is ranked highest priority for drill testing. Khaleesi has never been drill tested historically or by C3 Metals. The company has obtained all regulatory approvals required to commence drilling. An initial 14-hole, 6,000-metre diamond drill program has been designed. The company anticipates commencing this program in September, 2025. About C3 Metals Inc. C3 Metals 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 holds approximately 31,000 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 28 km belts. The company has published a maiden resource estimate on the first of these skarn targets, which contained measured and indicated resources of 52 Mt at 0.5 per cent copper and 0.2 g/t gold. The company is also actively exploring in Jamaica where it has identified 16 porphyry, 40 epithermal and multiple volcanic redbed copper prospects over a 30 km strike extent. The company holds a 100-per-cent interest in 17,855 hectares of exploration licences, of which Freeport-McMoRan Exploration Corp., a wholly owned affiliate of Freeport-McMoRan Inc., has the option on 13,020 hectares to earn up to a 75-per-cent interest by funding up to $75-million (U.S.) of exploration and project-related expenditures. The company also holds a 50-per-cent interest in 9,870 hectares in a joint venture with Geophsyx Jamaica Ltd., the largest mineral tenure holder in the country. Barrick Mining Corp. announced on May 1, 2024, that it had entered into an earn-in agreement with Geophysx Jamaica Ltd. on approximately 400,000 hectares of exploration licences, several of which surround C3 Metals' mineral concessions. 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). QP statement Stephen Hughes, PGeo, is vice-president of 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. We seek Safe Harbor.