C3 Metals Commences Maiden Drill Program at Khaleesi Copper-Gold Project, Peru

Rhea-AI Summary

C3 Metals (OTCQB: CUAUF) has initiated its maiden drill program at the 100%-owned Khaleesi copper-gold project in Peru. The program consists of 14 diamond drill holes totaling 6,300 meters, designed to evaluate copper-gold-molybdenum skarn and porphyry prospects.

The company will deploy two drilling rigs: the first rig will execute 7 holes over 3,000m targeting skarn copper-gold mineralization with a significant soil anomaly averaging 1,260ppm copper. The second rig, scheduled for October 2025, will complete 7 holes over 3,300m targeting porphyry-style copper mineralization with soil anomalies averaging 950ppm copper.

The Khaleesi project is strategically located on the world-class Andahuaylas-Yauri Porphyry-Skarn belt, with the program fully funded alongside concurrent drilling at Super Block and Bellas Gate in Jamaica.

Positive

• None.

Negative

• Results from the maiden drilling program are yet unknown
• Second rig deployment delayed until October 2025

Toronto, Ontario--(Newsfile Corp. - September 30, 2025) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce that it has commenced a 14-diamond drill hole, 6,300m maiden drill program at its 100%-owned Khaleesi copper-gold project ("Khaleesi" or "the Project"). This maiden drill program has been designed to evaluate copper-gold-molybdenum skarn and porphyry prospects identified through geologic mapping, strong soil geochemistry and coincident magnetic ("Mag") and Induced Polarization ("IP") chargeability highs (Figure 1). Khaleesi is located on the well-known, world-class Andahuaylas-Yauri Porphyry-Skarn belt (Figure 2).

Figure 1: Plan view map of IP chargeability anomalies at 300m depth showing drill collar and hole locations for the initial Khaleesi 14-hole, 6,300m drill program. Note the locations of the strong copper in soil geochemical anomalies over the IP chargeability anomalies. The two IP chargeability anomalies come together at approximately 600m depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/268456_1a2de68fd4ebfac7_001full.jpg

Dan Symons, President and CEO, stated, "We are very pleased to announce we have commenced the first ever drill program at Khaleesi. This maiden drill program was designed following a systematic collection of important geologic, geochemical and geophysical data. The results from exploration to date have yielded all the ingredients we look for in a sizeable porphyry-skarn system, and Khaleesi is located in a similar geologic setting as other major mines in this world-class copper producing district. We plan to drill with two rigs — one on each of the skarn and porphyry prospects. This is an exciting time for the Company, as commencing the drill program at Khaleesi now gives us three projects with drills turning: Khaleesi, Peru; Super Block, Jamaica; and Bellas Gate, Jamaica. All programs are fully funded, as we aim to maximize discovery potential for our shareholders."

Khaleesi Maiden Drill Program

• A 14 hole, 6,300m drill program is planned, utilizing two drill rigs.
• The first rig has commenced drilling and is testing a broad zone of skarn hosted copper-gold mineralization with coincident geophysics anomalies.
  • Seven holes over 3,000m will target a skarn copper-gold zone with coincident Mag and IP chargeability high anomalies and a coincident resistivity low anomaly that correlate with a 470m by 400m copper-zinc soil anomaly averaging 1,260ppm copper.
• The second rig is scheduled to commence drilling during October 2025 and will target porphyry-style copper mineralization mapped at surface.
  • Seven holes over 3,300m will target porphyry-style copper mineralization with coincident Mag, IP chargeability and resistivity high anomalies that correlate with a 800m by 400m copper-molybdenum in soil anomaly averaging 950ppm copper.

About the Khaleesi Project

Khaleesi represents a rare opportunity to explore an undrilled copper-gold mineralized skarn, epithermal and porphyry prospect located 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 45km 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 (Figure 2).

Figure 2: Regional map showing C3 Metals' mineral concession package in relation to other large-scale operations, development projects and exploration projects. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/268456_1a2de68fd4ebfac7_002full.jpg

Khaleesi is located 8km west of the Company's Jasperoide Project, where the Company confirmed 13 skarn prospects along a 28km 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% total copper and 0.20 g/t gold for 569.1 million pounds of copper and 326,800 ounces of gold.¹

Recent geophysical surveys identified large, coincident Mag and IP anomalies at Khaleesi (see press release dated August 6, 2025). These geophysical anomalies coincide with a recently defined high-grade copper-molybdenum in soil anomaly measuring 1,900m by up to 650m and a high-grade copper-zinc in soil anomaly measuring 470m by 400m (see press release dated February 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 (Figure 3).

• 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 ~600 vertical metres (Figure 4).

• Soil geochemical sampling defined a 1,900m long by up to 650m wide copper-molybdenum soil anomaly, with two priority zones averaging 950ppm copper and 650ppm copper in soils (Figure 5). For reference, copper in soils at or above 300ppm is considered anomalous and is a high priority for further exploration.

  • Skarn Zone - IP chargeability and coincident resistivity low anomaly correlates with a 470m by 400m copper-zinc soil anomaly averaging 1,260ppm 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 800m by 400m copper-molybdenum in soil anomaly averaging 950 ppm copper where porphyry-style copper mineralization has been mapped at surface.

• Field mapping confirmed a 3.3 sq km porphyry, skarn and epithermal alteration zone.

  • Outcrop samples assayed up to 2.82% copper, 6.0 g/t gold, 57.7 g/t silver and 403 ppm molybdenum (see press releases dated October 22, 2024 and January 8, 2025).

• Coincident geophysical anomalies, along with 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.

Figure 3: MVI Magnetic Inversion: Amplitude of Magnetization, depth slice 800m showing two large magnetic anomalies. The geophysical anomalies remain open along-strike to the east.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/268456_1a2de68fd4ebfac7_003full.jpg

Figure 4: Vertical section chargeability (top) and resistivity (bottom) plot of 2025 IP survey line 600N (shown in Figure 3), looking to the north. The chargeability and resistivity anomalies correlate well with surface copper geochemistry. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/268456_1a2de68fd4ebfac7_004full.jpg

Grid soils defined a 470m by 400m wide copper-zinc in soil anomaly, with soils averaging 1,260ppm copper and 450ppm zinc. Grid soils also defined a significant copper-molybdenum anomaly, which extends for over 1,900m by up to 650m; two discrete zones average 950ppm and 650ppm copper, respectively (Figure 5). Soil sampling also covered a 1.3 sq km area with a thin glacial till cover, varying from less than 1m to 15m in thickness. Glacial till appears to conceal interpreted extensions of the skarn and porphyry mineralized zones. Geophysical data supports the interpretation of the connection of these zones beneath the till occurrence.

Figure 5: Khaleesi map showing three well defined zones of pervasive copper-in-soil geochemistry. Also showing glacial till zone that appears to conceal mineralized rock below.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2661/268456_1a2de68fd4ebfac7_005full.jpg

Initial mapping and sampling at Khaleesi defined an alteration footprint spanning 1,500m by 1,000m. 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 copper-gold mineralization. Recently acquired Mag and IP provide further evidence for a potentially sizeable hydrothermal 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. The Company has now commenced the first ever drill program at Khaleesi.

For additional information, contact:

Dan Symons
President and CEO
+1 416 716 6466
dsymons@c3metals.com

ABOUT C3 METALS INC.

C3 Metals Inc. 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 28km belts. The Company has published a maiden resource estimate on the first of these skarn targets, which contained Measured & Indicated Resources of 52Mt at 0.5% copper and 0.2 g/t gold². The Company is also actively exploring in Jamaica where it has identified 16 porphyry, 40 epithermal and multiple volcanic redbed copper prospects over a 30km strike extent. The Company holds a 100% interest in 17,855 hectares of exploration licenses, of which Freeport-McMoRan Exploration Corporation, a wholly-owned affiliate of Freeport-McMoRan Inc. (NYSE: FCX), has the option on 13,020 hectares to earn up to a 75% interest by funding up to US$75 million of exploration and project related expenditures. The Company also holds a 50% 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 licenses, 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).

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.

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. 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, 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.

---

¹ Based on the assumptions and parameters outlined in the NI 43-101 Technical Report titled Jasperoide Copper-Gold Project Cusco Region, Peru dated July 5, 2023.
² Based on the assumptions and parameters outlined in the NI 43-101 Technical Report titled Jasperoide Copper-Gold Project Cusco Region, Peru dated July 5, 2023.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268456

FAQ

What is the size of C3 Metals' (CUAUF) Khaleesi drilling program in Peru?

The maiden drilling program consists of 14 diamond drill holes totaling 6,300 meters, split between skarn and porphyry-style copper mineralization targets.

Where is C3 Metals' Khaleesi project located?

The Khaleesi project is located on the Andahuaylas-Yauri Porphyry-Skarn belt in Peru, a world-class copper producing district.

What are the copper concentrations found in Khaleesi's soil samples?

The soil samples showed 1,260ppm copper in the skarn zone (470m x 400m area) and 950ppm copper in the porphyry zone (800m x 400m area).

How many drilling rigs will C3 Metals use at Khaleesi?

C3 Metals will use two drilling rigs - the first is currently operating, and the second will commence drilling in October 2025.

What other projects does C3 Metals currently have under drilling?

Besides Khaleesi in Peru, C3 Metals has active drilling programs at Super Block and Bellas Gate in Jamaica, all of which are fully funded.