C3 Metals Inc. (TSX-V: CCCM) (OTCQB: CUAUF) is pleased to announce 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 1,000m southwest of the initial skarn intersected the first hole drilled at Khaleesi (KHZ5800-001), which reported 269.0m at 0.30% copper (see press release dated December 15, 2026).

Khaleesi Drill Hole Highlights

• A new garnet-magnetite skarn:
  • Hole KHZ5450-001 was drilled approximately 400m southwest of the main garnet-magnetite skarn body. It intersected a new mineralized skarn with 67.6m at 0.45% copper, 0.029 g/t gold, 1.51 g/t silver, 17 ppm molybdenum (0.51% CuEq) from approximately 90m vertical depth (112.9m downhole depth).

• New manto-style copper mineralization:
  • Hole KHZ5140-001 was drilled approximately 1,000m southwest of the main garnet-magnetite skarn body. It intersected a 4.2m 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 275m vertical depth and 329.7m downhole depth (Figure 3).

• A second discovery of new garnet-magnetite skarn:
  • Hole KHZ5140-004 was drilled to the southwest of KHZ5140-001 (see above bullet point) and approximately 1,000m southwest of the main garnet-magnetite skarn body. It intersected significant copper mineralization in garnet and magnetite skarns with 60.9m at 0.50% copper, 0.027 g/t gold, 2.21 g/t silver, 10 ppm molybdenum (0.55% CuEq) from approximately 40m vertical depth (44.0m downhole depth).

• Skarn and intrusive copper mineralization significantly expanded below glacial till cover:
  • Hole KHZ5960-001 was drilled beneath glacial till. It intersected pervasive porphyry- and skarn-style alteration. A 109.0m zone of diorite hosted, copper-gold-silver-molybdenum veinlet mineralization returned0.29% copper, 0.028 g/t gold, 0.99 g/t silver, 115 ppm molybdenum (0.39% CuEq) from approximately 40m vertical depth (45.0m downhole depth). This intercept was followed downhole by a 118.0m 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 300m vertical depth (354.9m downhole depth).
  • Hole KHZ5960-002 was drilled due east of KHZ5960-001 (see above bullet point). It intersected a 154.7mzone 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 50m vertical depth (56.3m downhole depth).

Dan Symons, President and CEO, stated, “We continue to expand the Khaleesi copper system, as evidenced by the discovery of two new skarns and new manto-style copper mineralization. The two new garnet-magnetite skarns are located approximately 400m and 1,000m southwest of the main garnet-magnetite skarn body intercepted in our first drill hole at Khaleesi. Furthermore, we have significantly expanded both skarn and intrusive copper mineralization in the north-central Khaleesi project area. We are extending our mapping, soil sampling and geophysical surveys to double our data set from approximately 8 sq km to 16 sq km. This new data will be crucial for extending drilling over a much larger area at Khaleesi. Drilling will continue concurrent with the collection this expanded data set.”

Table 1: Assay Results from 10 Drill Holes at Khaleesi, Peru

Notes
*Copper Equivalent for drill intersections is calculated based on three-year trailing average for each commodity (2023, 2024 and 2025) which equates to US$ 4.18/lb Cu, US$ 2,600/oz Au, US$ 30.54/oz Ag and US$ 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.
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.

Figure 1. Plan map on geology of the completed drill holes to date, with copper (Cu; oranges) and molybdenum (Mo; blues) mineralization plotted along the trace of the holes, projected to surface. Note the section line for which a cross section is shown in Figure 2.

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Figure 2. East-west section through KHZ5950-001, KHZ5960-001 and 002, highlighting different style of significant copper mineralization intersected at the Khaleesi project. KHZ5960-001 and 002 both intersected secondary copper mineralization associated with a microdiorite and gabbroic diorite in the upper section of these drill holes. KHZ5960-001 intersected deeper seated copper mineralization associated with a magnetite skarn and surrounding pyroxene skarn.

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Figure 3. Drill core from KHZ5140-001, showing high-grade, manto-style copper mineralization that assayed 2.97% copper over 4.2 metres.

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Since the maiden drill program commenced at Khaleesi on September 30, 2025, approximately 13,600m of drilling has been completed in 31 holes (from 17 drill platforms). Including today’s announcement, assays have now been reported for 27 holes (see press releases dated December 15, 2025, January 21, 2026, February 26, 2026 and April 29, 2026).

Drilling at Khaleesi continues to focus on probing the Ferrobamba limestone and Andahuaylas-Yauri batholith contact zone that extends for over 1,300m 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.

Next Steps

Khaleesi falls within the multiphase intrusive complex that intrudes along the Ferrobamba carbonate package. As stated, the area is almost completely covered by glacial till that varies in thickness from 2m to 50m. This creates a significant blind exploration challenge. Geophysics is the best methodology for drill targeting.

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.

The Company looks forward to reporting results as they become available.

Table 2: Drill Collars, Completed and In-Progress Holes at Khaleesi, Peru

About the Khaleesi Project

The Khaleesi project is located in the Andahuaylas-Yauri Belt in southeastern Peru, home to large copper skarn and porphyry deposits and operating mines such as Las Bambas (MMG), Constancia (Hudbay Minerals), Antapaccay (Glencore), and others (Figure 4).

Figure 4: Regional map showing C3 Metals’ mineral concession package in relation to other large-scale operations, development projects and exploration projects.

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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 is the only skarn along the 28km iron-skarn belt that 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

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, which contain the Company’s Jasperoide and Khaleesi projects. 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 13 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 gold¹. 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

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.

Copper Equivalent Formula

Copper Equivalent for drill intersections is calculated based on three-year trailing average for each commodity (2023, 2024 and 2025) which equates to US$ 4.18/lb Cu, US$ 2,600/oz Au, US$ 30.54/oz Ag and US$ 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.

Technical Program

C3 Metals adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

Samples were cut at C3 Metals’ Khaleesi Project camp, Cusco Region, Perú, by Company personnel. Before entering the cutting room, the drill core samples are marked lengthwise with a yellow line, and the core saw followed these lines to cut each sample. Diamond drill core was sampled in maximum 3-metre intervals, stopping at geological boundaries, and using a rock saw. Core diameter is a mix of PQ3 and HQ3, depending on the depth of the drill hole. Samples were bagged, tagged and packaged for shipment via local freight transport service to the ALS preparation laboratory in Arequipa, Arequipa Region, Perú. Entire samples were dried and weighed, then crushed to 85% passing 10 mesh (2mm). From this, a 1.5 kg split was pulverized to 90% passing 200 mesh (75µm).

The prepared, pulp samples were sent via ALS to the ALS assay laboratory in Lima, Lima Region, Perú, for copper, gold and multi-element analysis. ALS is an accredited laboratory which is independent of the Company. Gold assays were done by fire assay fusion (Au-AA23) with AAS finish on a 30g sample. Copper was assayed by ICP-AES following a 4-acid digestion via the ME-MS61r package for a suite of 60 elements. Any copper sample over detection limit (i.e., greater than 10,000ppm or 1% Cu) was additionally assayed via ICP-AES using the package ME-OG62. High and low copper, gold and iron standards, as well as blanks and duplicates (coarse crush split and pulp), were randomly inserted into the sampling sequence for quality control. On average, 11% of the submitted samples are quality control samples. No data quality problems were indicated by the QA/QC program.