Executive Management Team Strengthened, Options Granted

Toronto, Ontario–(Newsfile Corp. – January 5, 2021) – C3 Metals Inc. (TSXV: CCCM) is pleased to announce the appointment of Kevin Tomlinson to the position of President and Chief Executive Officer and as a Director of the Company. The Company is also pleased to announce that Alec Rowlands, is joining the Company as VP of Investor Relations. Stephen Hughes who has now returned to full-time employment following an illness, will step back from the CEO position and continue as Vice President Exploration and remain a Director of the Company.

Tony Manini, Chairman of the Board of C3 Metals Inc. stated, “We are very pleased to welcome Kevin as President and CEO. Kevin brings a rare mix of extensive operational experience as a geologist coupled with a highly successful track record in Resources Investment Banking across M&A advisory, financing and research. His strong leadership skills and diverse capital markets experience are highly complementary to those of our strong technical team. We look forward to working with Kevin as C3 builds substantial value for its stakeholders through the successful ramp up of exploration on our flagship Jasperoide copper-gold project in the world class Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru. We also welcome Alec Rowlands to the Team with his extensive capital markets experience and hands-on approach to investor relations. The continuance of Steve in the role of VP Exploration combined with the skill sets of Kevin and Alec positions the Company well for this transformational stage of its development.”

Kevin Tomlinson commented: “C3, under the stewardship of Stephen Hughes and his team, along with a highly experienced Board, has provided an outstanding platform from which to grow a significant company in the copper-gold space. The Company’s experienced in-country team is working closely with Government agencies and the local community to enable C3 to advance its efforts in a conscientious and timely fashion as evidenced by the recent granting of the required drill permit. I am excited to be joining a very experienced and dynamic team exploring and developing the little-known Jasperoide gold-copper skarn and porphyry system in the shadow of giant copper deposits such as Las Bambas, Constancia and Antapaccay in Peru.”

Kevin Tomlinson Background

Kevin Tomlinson is a Canadian/Australian Structural Geologist and Investment Banker with over 35 years’ experience in the exploration, development and financing of mining projects globally, and particularly the North American, Australasian and European capital markets. Kevin’s diverse career commenced with 15 years in technical and senior exploration management roles predominantly at Plutonic Resources followed by several years as the Managing Director and CEO of ASX listed junior Austminex, and as Head of Research for Hartleys stockbroking in Australia.

For the past 20 years, Mr. Tomlinson has been a very effective Resources Investment Banker, M&A advisor and Company Director for some of the most successful junior exploration and development companies globally including Centamin Plc, Orbis Gold, Medusa Mining, Cardinal Resources and Bellevue Gold.

As Managing Director of Investment Banking at Westwind Partners/Stifel Nicolaus from 2006-2012 Kevin was involved in many financings and listings for growing junior and mid-tier resource companies across the TSX, ASX, LSE and AIM markets including Centamin, SolGold, Allied Gold and Trelawney.

Between 2015-2017 Mr. Tomlinson was a senior consultant to Maxit Capital leading the merger of Gryphon Minerals with Teranga Gold and introducing SolGold to the firm as a corporate client. Kevin’s most recent M&A role has been as Chairman with Cardinal Resources during the delineation and development of its Tier 1, 5.1 Moz gold deposit in Ghana and the takeover of the company. Kevin is currently Non-Executive Chairman of Bellevue Gold and Non-Executive Director of Kodiak Copper.

Mr. Tomlinson holds a BSc (Hons) and an MSc degree in Structural Geology and a Graduate Diploma in Finance and Investment from the Securities Institute of Australia. He is a Fellow of the Chartered Institute for Securities & Investment (CISI), a Liveryman for the Worshipful Company of International Bankers (UK) and a Fellow of the Institute of Directors (UK).

Alec Rowlands Background

Mr. Rowlands has over 25 years’ experience in mining finance. He is the former managing director of First Marathon Securities (London) and former Head of Sales for Gordon Capital (NYC). Since 1999, Mr. Rowlands has held several senior finance positions, including with Yorkton Securities, Westwind Partners, Jennings Capital and PowerOne Capital Markets Ltd.

Mr. Rowlands has been an active investor and founding shareholder in several mining ventures, notably Auryx Gold, which was acquired by B2Gold for its Otjikoto project in Namibia in 2011. He is currently Vice-President, Investor Relations and Corporate Development for Cardinal Resources Inc. (TSX: CDV).

Options Granted

Pursuant to the Company’s stock option plan approved by shareholders at its Annual General and Special Meeting held on May 24, 2018, the Board of Directors has granted 8,000,000 stock options to directors, officers, employees, and consultants of the Company. A total of 2,000,000 options vest immediately, while 6,000,000 options will vest over a period of 12 months, subject to regulatory acceptance. After vesting, each incentive stock option will allow the holder to purchase one common share in the Company at a price of C$0.11. The incentive stock options have a term of 5 years, expiring on January 5, 2026 or upon departure of the option-holder. The board has also approved, pursuant to its RSU and DSU Plan, an RSU grant of 1,500,000 shares to a director. The RSU grant will vest in 12 months and will be valid for 2 years. Following this stock option grant, the Company will have a total of 36,705,000 stock options outstanding representing approximately 9.8% of the outstanding common shares of the Company.

ABOUT C3 METALS INC.

C3 Metals Inc. is focused on creating substantive long-term value for its shareholders through the discovery and development of large copper and gold deposits. The Company’s flagship project is the under-explored 5,700 hectare Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru. Mineralization at Jasperoide is hosted in similar geological settings to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore).

C3 Metals also holds a 100% interest in five licenses covering 207 km2 of highly prospective copper-gold terrain in Jamaica, a 100% interest in two porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 km2 within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46 km2 Stewart Brook gold project in the Meguma gold belt of Nova Scotia. C3 Metals is seeking partners to further develop these highly prospective Canadian and Caribbean assets.

Tony Manini, Executive Chairman
+1 (647) 953-5924
tmanini@c3metals.com

www.c3metals.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARD-LOOKING STATEMENTS

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, C3 Metals Inc. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.

IMPORTANT NOTICE: C3 Metals hereby incorporates the entire disclaimer set forth on its website at http://www.c3metals.com/disclaimers-and-forward-looking-statements/