Carolina Rush Intersects 74.5 meters of 1.1 g/t Au and 0.17% Cu, including 13.5 meters of 1.7 g/t Au and 0.68% Cu, at Brewer

Toronto, Ontario--(Newsfile Corp. - January 4, 2024) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (formerly Pancontinental Resources Corporation, or Pancon) ("Carolina Rush," "Rush" or the "Company") announces results for the first two drill holes of its ongoing 2,000-meter drill program at the Brewer Gold and Copper Project in South Carolina.

Highlights:

• Hole 18 (B23C-018) intersected:
  • 74.50 meters of 1.1 g/t Au and 0.12% Cu from 166.50 meters depth,
  • including 11.50 meters of 3.1 g/t Au and 0.12% Cu from 168.00 meters,
  • and 13.50 meters of 1.7 g/t Au and 0.68% Cu from 203.09 meters (see Figure 1).
• Hole 19 (B23C-019) intersected:
  • 43.32 meters of 0.4 g/t Au from 336.18 meters depth,
  • including 5.61 meters of 1.2 g/t Au from 373.89 meters.

Patrick Quigley, Senior Geologist and Exploration Manager, stated: "Mineralization encountered in Hole 18 is one of the more significant intercepts reported at Brewer to date, confirming mineralization extends at least 115 meters below the former mine and remains open for extension in all directions. Noteworthy is a 6.7-meter zone of intense sulfide replacement within the breccia that averaged 1.02% copper and 1.9 g/t gold, indicating that discrete zones of higher-grade copper-gold mineralization persist at depth."

Layton Croft, President and CEO, stated: "It is useful to review our latest drill results within the context of information and analysis produced since we started exploring Brewer in 2020 (see Table 2). With only 19 holes, we have consistently reported exceptional drill results and demonstrated Brewer's big, exciting potential. What is needed most now is more drilling."

Figure 1: Hole 18 and Hole 8 Cross Section

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The first three holes of Carolina Rush's 2023-2024 drill program were designed to test the western, down-dip extension of the breccia-hosted gold-copper mineralization that was historically mined from surface to a maximum depth of 65 meters (see the November 20, 2023 news release). Results from Holes 18 and 19 continue to demonstrate that a broad zone of gold+/-copper mineralization exists beneath the former pit. Rush is the first company to systematically evaluate the underlying sulfide mineralization beneath the historic oxide mine. These new results provide a three-dimensional assessment of the 'Brewer breccia' that improves understanding of the geometry and controls on mineralization.

Hole 18, collared approximately 175 meters west of Hole 8 and drilled east at a -50 degree inclination, was designed to test the down-dip extension of breccia-hosted mineralization encountered in Hole 8, and it successfully extended the mineralized zone approximately 65 meters down-dip (see Figure 1). Due to the nature of mineralization in Hole 18, namely massive sulfides, this hole was left open to facilitate future downhole geophysical surveys that may allow for the detection of additional sulfide mineralization beyond Hole 18. Importantly, the dominant copper-bearing mineral identified in Hole 18 is chalcocite, a high-tenor copper sulfide mineral comprised of nearly 80% copper by weight. This validates the Company's prior observations at Brewer, confirming the transition to chalcocite below the near surface copper-enargite historically reported at Brewer.

Hole 19, collared approximately 250 meters west of Hole 5 and drilled east at a -45 degree inclination, was designed to test the down-dip extension of breccia-hosted mineralization encountered in Hole 5. In addition to intersecting breccia-hosted gold mineralization associated with Hole 5, Hole 19 also encountered discrete mineralized zones within the hanging wall of the Brewer breccia, indicating the presence of additional mineralized structures below the former mine.

Figure 2: Plan Map Showing Locations of All 19 Core Holes Drilled and Reported by Rush

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Table 1: 2023 Drill Results

Notes: *Reported intervals are drilled widths and do not represent true thicknesses.

Table 2: Summary of Best Drill Results to Date

Notes: *Reported intervals are drilled widths and do not represent true thicknesses. Holes ranked in terms of best GxT value (GxT = Au grade x thickness). Table shows reported intersections with a GxT value > 10 with new results reported in this release shown in bold text.

Quality Assurance and Quality Control Statement

2023 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 were 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 were analyzed via method Cu-OG62. Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of gold standards and blanks in the sample stream on a regular basis.

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, 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 further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E: info@thecarolinarush.com
T: +1.647.202.0994

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.sedarplus.ca. 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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