Announcement • Jun 24

C3 Metals Reports Results from 10 New Holes Drilled At Khaleesi Copper Project in Peru

C3 Metals Inc. has announced results from 10 new holes drilled at its 100%-owned Khaleesi copper project in southern Peru. Drilling has significantly expanded both skarn and intrusive copper mineralization. Two new skarns and manto-style copper mineralization has been discovered 400 metres and 1,000 metres southwest of the initial skarn intersected the first hole drilled at Khaleesi (KHZ5800-001), which reported 269.0 metres at 0.30% copper. Hole KHZ5450-001 was drilled approximately 400 metres southwest of the main garnet-magnetite skarn body. It intersected a new mineralized skarn with 67.6 metres at 0.45% copper, 0.029 g/t gold, 1.51 g/t silver, 17 ppm molybdenum (0.51% CuEq) from approximately 90 metres vertical depth (112.9 metres downhole depth). Hole KHZ5140-001 was drilled approximately 1,000 metres southwest of the main garnet-magnetite skarn body. It intersected a 4.2 metre wide manto-style zone assaying 2.97% copper, 0.015 g/t gold, 4.92 g/t silver, 2 ppm molybdenum (3.16% CuEq) from approximately 275 metres vertical depth and 329.7 metres downhole depth. Hole KHZ5140-004 was drilled to the southwest of KHZ5140-001 and approximately 1,000 metres southwest of the main garnet-magnetite skarn body. It intersected significant copper mineralization in garnet and magnetite skarns with 60.9 metres at 0.50% copper, 0.027 g/t gold, 2.21 g/t silver, 10 ppm molybdenum (0.55% CuEq) from approximately 40 metres vertical depth (44.0 metres downhole depth). Hole KHZ5960-001 was drilled beneath glacial till. It intersected pervasive porphyry- and skarn-style alteration. A 109.0 metre zone of diorite hosted, copper-gold-silver-molybdenum veinlet mineralization returned 0.29% copper, 0.028 g/t gold, 0.99 g/t silver, 115 ppm molybdenum (0.39% CuEq) from approximately 40 metres vertical depth (45.0 metres downhole depth). This intercept was followed downhole by a 118.0 metre zone of magnetite skarn hosted copper-gold-silver-molybdenum mineralization with 0.30% copper, 0.024 g/t gold, 0.85 g/t silver, 75 ppm molybdenum (0.37% CuEq) from approximately 300 metres vertical depth (354.9 metres downhole depth). Hole KHZ5960-002 was drilled due east of KHZ5960-001. It intersected a 154.7 metre zone of near-surface diorite hosted secondary copper mineralization with 0.21% copper, 0.017 g/t gold, 0.71 g/t silver, 4 ppm molybdenum (0.24% CuEq) from approximately 50 metres vertical depth (56.3 metres downhole depth). Table 1: Assay Results from 10 Drill Holes at Khaleesi, Peru: KHZ5140-001: From 327.90 metres to 332.10 metres, Length 4.20 metres, Cu 2.97%, Au 0.015 g/t, Ag 4.92 g/t, Mo 1.85 ppm, CuEq 3.16%. KHZ5140-004: From 44.00 metres to 104.90 metres, Length 60.90 metres, Cu 0.50%, Au 0.027 g/t, Ag 2.21 g/t, Mo 10.22 ppm, CuEq 0.55%. KHZ5325-001: From 252.20 metres to 257.40 metres, Length 5.20 metres, Cu 0.93%, Au 0.443 g/t, Ag 19.02 g/t, Mo 3.91 ppm, CuEq 1.54%. KHZ5450-001: From 112.90 metres to 180.50 metres, Length 67.60 metres, Cu 0.45%, Au 0.029 g/t, Ag 1.51 g/t, Mo 16.87 ppm, CuEq 0.51%. KHZ5960-001: From 45.00 metres to 154.00 metres, Length 109.00 metres, Cu 0.29%, Au 0.028 g/t, Ag 0.99 g/t, Mo 114.96 ppm, CuEq 0.39%. KHZ5960-001: From 354.90 metres to 472.90 metres, Length 118.00 metres, Cu 0.30%, Au 0.024 g/t, Ag 0.85 g/t, Mo 74.99 ppm, CuEq 0.37%. KHZ5960-002: From 56.30 metres to 211.00 metres, Length 154.70 metres, Cu 0.21%, Au 0.017 g/t, Ag 0.71 g/t, Mo 4.01 ppm, CuEq 0.24%. KHZ5780-001: From 70.20 metres to 74.80 metres, Length 4.60 metres, Cu 1.08%, Au 0.085 g/t, Ag 4.86 g/t, Mo 32.79 ppm, CuEq 1.33%. KHZ5790-004: From 66.50 metres to 97.00 metres, Length 30.50 metres, Cu 0.42%, Au 0.029 g/t, Ag 1.67 g/t, Mo 69.82 ppm, CuEq 0.50%. Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper assay values according to a 0.15% Cu cutoff and include a maximum of 12 metres of internal dilution. All intervals reported in this table are down hole core lengths, and true thicknesses have yet to be determined. Mineral resource modeling is required before true thicknesses can be estimated. Since the maiden drill program commenced at Khaleesi on September 30, 2025, approximately 13,600 metres of drilling has been completed in 31 holes (from 17 drill platforms). Including this announcement, assays have now been reported for 27 holes. Drilling at Khaleesi continues to focus on probing the Ferrobamba limestone and Andahuaylas-Yauri batholith contact zone that extends for over 1,300 metres from northeast to southwest across the Khaleesi property. Drilling also continues to define the boundaries of the main garnet and magnetite skarn body that appears tabular in shape within an intrusive complex. The magnetite and garnet skarns, along with peripheral and cross-cutting veinlets in the diorite, has yielded the widest intervals of copper, gold, silver and molybdenum mineralization to date. Geophysical surveys (drone magnetics, 3D induced polarization and gravity) are scheduled to be completed between mid-June and September 2026 in both the initial discovery area and an expanded area of interest. In addition, surface mapping and soil sampling are progressing in the same expanded exploration area. The Company has reduced from two drill rigs to one rig until the additional geophysical data has been collected, modelled and interpreted. One drill rig continues to test high priority targets and expand known skarn and diorite mineralization. Copper Equivalent (CuEq) for drill intersections is calculated based on three-year trailing average for each commodity (2023, 2024 and 2025) which equates to USD 4.18/lb Cu, USD 2,600/oz Au, USD 30.54/oz Ag and USD 21.46/lb Mo, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.907 x Au g/t) + (0.0107 x Ag g/t) + (0.00051 x Mo ppm). Since it is unclear what metals will be the principal products and as Khaleesi is an early-stage greenfield project with no metallurgical test work completed, assuming different recoveries is premature at this stage. As such an 80% recovery rate is justified.

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