CEO.CA Chairman's Briefing

Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") is pleased to report results from the last two holes drilled in the Tanyard Breccia Zone at its Brewer Gold-Copper Project in South Carolina. Analytical results have been received for holes 35 and 36, both targeting the Tanyard Breccia Zone south of the former Brewer mine (see Table 1, Figure 1 and Figure 2).

Highlights:

• B24C-036: 206.3 m @ 0.66 g/t Au from 63.2 meters depth (50 meters below surface), which includes:

  • 21.0 m @ 1.05 g/t Au and 0.29% Cu from 97.0 meters depth

  • 45.0 m @ 1.20 g/t Au from 221.5 meters depth

  • 75 meter down-dip extension from previous intersections

  • Tanyard Breccia Zone remains open for expansion

Carolina Rush President and CEO Layton Croft stated: "We continue to report exciting results at the recently discovered Tanyard Breccia Zone. Hole 36 contains an exceptionally thick mineralized intercept starting at 50 meters below surface. The hole then extends the Zone 75 meters down-dip. This is encouraging as it keeps the Tanyard Zone open for further expansion (see Figure 1). The phase four drill program is now complete, with analytical results pending for the last hole of the program (Hole 16x), an extension of Hole 16 that was collared ~350 meters north-northwest of the former Brewer mine (see Figure 2)."

Table 1. Composited Assay Results for Holes B23C-035 & B24C-036

Figure 1. Tanyard - Brewer Vertical Cross Section (looking West)

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Drill hole B24C-035 was drilled to a depth of 232 meters with an azimuth of 120° and a -65° inclination and undercut drill hole B24C-034 (61.0 m @ 1.7 g/t Au, 0.3 % Cu, see news release dated October 21, 2024). Hole 35 intersected the peripheral quartz-pyrophyllite alteration that typically occurs proximal to the silicified breccia which is the primary host for gold+/-copper mineralization.

Drill hole B24C-036 was drilled to a depth of 310 meters with an azimuth of 300° and a -52° inclination, and was the first hole testing the Tanyard Breccia at this orientation. The hole encountered 206 meters of continuous mineralization starting from 63 meters down hole (approximately 50 meters below surface). Within this broad mineralized zone two discrete zones of pyritic, silicified breccia were encountered and contain higher levels of gold +/- copper (see Table 1). Significantly, hole 36 demonstrates the down-dip continuation of the Tanyard Breccia and extended mineralization 75 meters from previous drill intersections where the zone remains open for expansion (see Figure 1).

Figure 2. Brewer Project Plan Map Showing Drill Hole Locations

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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.

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