CEO.CA Chairman's Briefing

Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") is pleased to report results from its recently completed core drilling program at the Brewer Gold and Copper Project in South Carolina. Analytical results have been received for holes 33 and 34, targeting the Tanyard Breccia Zone located south of the former mine (see Table 1, Figure 1 and Figure 2).

Carolina Rush President and CEO Layton Croft stated: “Hole 34 delivered the second-best results among the 15 holes reported thus far in the Tanyard Zone, and ranks in the top five on a grade-times-thickness basis (GxT) across all 34 Brewer holes reported to date. This strengthens the significance of the Tanyard as a promising new mineralized zone and adds to Brewer’s overall large-scale gold copper target with considerable upsides.”

Table 1. Composited Assay Results for hole B23C-033 & B24C-034

*Reported intervals are drilled width and do not represent true width.

Drill hole B24C-033 was a vertical exploration hole drilled to a depth 155 meters and collared approximately 180 meters southwest of hole 34. The hole was designed to drill through the Tanyard sedimentary sequence to test an underlying chargeability anomaly. While no significant gold-copper mineralization was encountered, anomalous pathfinder elements and favorable alteration (e.g. quartz-pyrophyllite) were identified.

Drill hole B24C-034 was drilled to a depth of 223 meters with an azimuth of 120° and a -50° inclination. This was the first hole testing the Tanyard Breccia at this orientation and intersected mineralization at an elevation approximately 25 meters above B23C-021 (62.5 m @ 8.5 g/t Au). Mineralization is hosted within a silicified polylithic breccia that includes zones of strong sulfide replacement. These replacement bodies correlate with increased copper grades, with individual samples returning >2% copper. In addition, gold-telluride mineralization occurs in strongly oxidized quartz veins cutting the sulfide breccia with individual samples returning >15 g/t Au. Refer to Table 1 for a detailed breakdown of the mineralized interval.

Figure 1. Example of mineralization encountered in drill hole B24C-034

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5156/227155_3304abc9540679d2_003full.jpg

Figure 2. Tanyard Breccia Zone Drill Hole Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5156/227155_3304abc9540679d2_004full.jpg

The phase four drill program is now complete, with a total of 2,578 meters drilled in 12 holes, 11 of which are in the Tanyard Zone. Results are pending for the last three holes of the program and will be reported as they are received.

Quality Assurance and Quality Control Statement
The Company's 2023-2024 exploration diamond core drilling was HQ and/or NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Rush. Samples, typically 1.5 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for storage. Each bagged core sample was shipped to ALS Laboratory in Twin Falls, ID where it was dried, crushed and pulverized to >80% passing -200 mesh. Gold was analyzed by fire assay (30 g) with an AA (atomic absorption) finish (method Au-AA23) with detection limits of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21). Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% copper are analyzed via method Cu-OG62. ALS Minerals is accredited in accordance with International Standard ISO/IEC 17025:2017 and also inserts its own certified reference materials plus blanks and duplicates. Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of standards and blanks every 10^th sample within the sample stream. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company's database.

Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as defined by NI 43-101.

About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the southeastern USA. Its flagship Brewer Gold-Copper Project is located at the past-producing, 397-hectare Brewer Gold Mine property in Chesterfield County, South Carolina, 17 kilometers along trend from the producing Haile Gold Mine. In January 2023, the Company signed exclusive mineral exploration lease and purchase option agreements for both the 246.6-hectare New Sawyer Gold Mine Property and the 54.6-hectare Sawyer Gold Mine Property, both located on the Sawyer Gold Trend and in Randolph County, North Carolina.

For additional information please visit our new website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush.

Neither 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.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227155