C3 Metals secures earn-In agreement with Freeport-McMoRan for Jamaican copper-gold exploration

C3 Metals CEO Dan Symons joined Steve Darling from Proactive to announce a significant milestone for the company--an earn-in agreement with Freeport-McMoRan Exploration Corporation. The agreement pertains to C3 Metals' 100%-owned Bellas Gate, Browns Hall, and Arthurs Seat Special Exclusive Prospecting Licenses, located in Jamaica. The Bellas Gate Project, which spans three mineral concessions totaling 13,020 hectares, is strategically positioned adjacent to the east of the company's 50/50 joint venture Super Block project with Geophysx Jamaica Limited.

Extensive exploration efforts by C3 Metals have already identified 14 porphyry targets, over 30 epithermal prospects, and multiple volcanic redbed occurrences across an 18-kilometer strike extent, highlighting the project's significant potential for copper and gold mineralization. Under the terms of the agreement, Freeport-McMoRan has been granted a two-stage option to earn up to a 75% ownership interest in the Bellas Gate Project by funding up to £75 million in exploration and project-related expenditures. The first stage requires Freeport to invest £25 million over five years, earning them a 51% stake in the project.

During this phase, C3 Metals will remain the project's operator, ensuring continuity in exploration efforts. Following this initial earn-in, Freeport has the option to increase its stake to 75% by investing an additional £50 million in exploration and development over the next four years. If Freeport exercises this option, they will assume the role of project operator, further advancing the Bellas Gate Project toward potential development.

Symons emphasized that this agreement not only validates the prospectivity of C3 Metals' Jamaican assets but also brings a globally recognized partner with extensive expertise in copper exploration and development into the fold.

The funding commitment from Freeport significantly de-risks exploration costs while accelerating the project's advancement, positioning C3 Metals for substantial growth in the region.

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