Mr. Layton Croft reports

CAROLINA RUSH REPORTS FINAL RESULTS OF INITIAL BREWER PORPHYRY DRILL PROGRAM, INTERSECTS NEAR-MINE EPITHERMAL GOLD-COPPER MINERALIZATION

Carolina Rush Corp. has released results from Hole B26C-039 (Hole 39), the third and final hole of the initial deep drill program at the company's Brewer gold-copper project in South Carolina, United States, financed under the company's earn-in agreement with OceanaGold Corp. Hole 39 was drilled approximately 400 metres southeast of Hole 37 and collared just west of the former Brewer mine, intersecting significant gold-copper mineralization and demonstrating lateral continuity of the Brewer epithermal system in a previously untested area.

Hole 39 completes the initial three-hole deep porphyry exploration drilling campaign at Brewer. In conjunction with Holes 37 and 38, results from Hole 39 support the geologic model of a shallow northwest-dipping alteration system and strengthens the company's interpretation that the core of the copper-gold porphyry system is located farther west-northwest and remains untested by drilling.

Highlights

• 51 metres grading 0.62 g/t gold (Au) and 0.22 per cent copper (Cu) from 214.0 metres, including:
  • 12 metres grading 1.04 g/t Au and 0.60 per cent Cu from 217.5 metres.
• Au-Cu mineralization encountered in Hole 39 represents a 50-metre stepout from the nearest intercept used to calculate the current mineral resource estimate;
• Mineralization remains open for expansion and demonstrates continuity of the broader Brewer hydrothermal system;
• The result highlights potential opportunities for future resource growth while complementing the company's continuing evaluation of deeper exploration targets.

Carolina Rush chief executive officer Layton Croft stated: "Hole 39 demonstrates that Brewer continues to offer opportunities for value creation. While recent drilling has advanced our understanding of the deeper hydrothermal system and potential porphyry targets, Hole 39 has intersected a significant gold-copper interval outside the current resource footprint, highlighting an additional opportunity to grow the existing resource. The completion of this initial drill campaign has substantially improved our understanding of Brewer's geological architecture and provides a stronger foundation for evaluating both resource expansion opportunities and deeper exploration targets as the company advances planning for the next phase of exploration."

Hole 39 result

Hole 39 was designed to test the southern margin of a large low-resistivity anomaly that was initially targeted in Hole 37 (see May 4, 2026, news release). The hole was collared just west of the former Brewer mine, which enabled it to also test the near-surface breccia-hosted mineralization west of Brewer's current mineral resource.

The hole intersected that shown in the attached table.

Mineralization is hosted within a diatreme breccia and consists of gold and copper associated with sulphide-bearing hydrothermal alteration characteristic of the Brewer epithermal system. The primary copper bearing mineral identified in Hole 39 is chalcocite. The intersection extended mineralization approximately 50 metres from the nearest drill hole (B23C-018) and demonstrates the potential for significant mineralization to extend beyond the limits of the existing mineral resource estimate. Hole 39 was drilled to a total depth of 917 m and confirmed that the low-resistivity anomaly below the former Brewer mine is not associated with an underlying intrusion.

Significance of the results

The Brewer project currently hosts a National Instrument 43-101 mineral resource estimate comprising:

• 192,000 ounces of gold and 16.7 million pounds of copper in the indicated category;
• 210,000 ounces of gold and 8.3 million pounds of copper in the inferred category;
• An additional 129,000 ounces of gold and 9.7 million pounds of copper contained within historical backfill material classified as inferred.

The mineral resource estimate is supported by a technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate - Brewer Project," with an effective date of March 20, 2025. The report is filed on SEDAR+ and available on the company's website.

Hole 39 intersected gold-copper mineralization 50 metres beyond the nearest drill hole that was used in the 2025 resource estimate and confirms that mineralization remains open for expansion.

While Hole 39 was not designed as a resource delineation hole, the intersection confirms that significant gold-copper mineralization occurs beyond the boundaries of the current mineral resource estimate and identifies areas for future follow-up drilling.

Completion of initial deep drill program

Hole 39 marks the completion of the initial three-hole deep drilling campaign conducted under the OceanaGold earn-in agreement.

Collectively, several important conclusions can be made from the recently completed program:

• Hole 37 identified an extensive deep hydrothermal system characterized by widespread alteration, porphyry-style veining and chalcopyrite-bearing copper mineralization.
• Hole 38 confirmed the presence of porphyry-related copper-gold mineralization below Brewer's lithocap within a newly recognized chlorite alteration zone with remnant biotite and A-type quartz veins, strengthening vectors toward a porphyry copper-gold source.
• Hole 39 intersected significant gold-copper mineralization outside the current resource footprint, demonstrating that mineralization remains open beyond the current resource limits and warrants further evaluation.

The company will now integrate all geological, structural, geochemical and alteration data from the recent program, which will inform prioritization of drill targets for a potential follow-up program. Any follow-up exploration will be conducted subject to OceanaGold's earn-in funding commitment and the company's continuing evaluation of Brewer's broader exploration model.

The company emphasizes that references to porphyry-style mineralization are conceptual and exploratory in nature, and there is no certainty that further drilling will define economic mineralization.

Quality assurance and quality control statement

The company's 2026 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 two metres 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 reference. Each bagged core sample was shipped to ALS Laboratory in Reno, Nev., where it was dried, crushed and pulverized to greater than 80 per cent passing negative 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 greater than 1.0 per cent copper are reanalyzed using 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 10th sample within the sample stream. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the company's database.

Qualified person statement

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.

OceanaGold partnership

The Brewer gold-copper project is currently being explored in partnership with OceanaGold under an earn-in agreement whereby OceanaGold may earn up to an 80-per-cent interest in Brewer by financing $20-million (U.S.) in exploration expenditures and exercising Carolina Rush's underlying Brewer option before the end of 2030. The company confirms OceanaGold has satisfied its minimum $1.5-million (U.S.) exploration expenditure commitment for Q2 2026 under the earn-in agreement. To earn a 50-per-cent interest in Brewer, OceanaGold must incur a total of $8-million (U.S.) by Dec. 31, 2027.

About Carolina Rush Corp.

Carolina Rush is a mineral exploration company focused on the discovery of gold and copper deposits in the southeastern United States. The company is advancing the Brewer gold-copper project in Chesterfield county, South Carolina -- a large, underexplored hydrothermal system with a near-surface epithermal gold National Instrument 43-101 mineral resource and compelling exploration potential for deeper porphyry copper-gold mineralization. Brewer is currently being explored in partnership with OceanaGold (Toronto Stock Exchange: OGC) (New York Stock Exchange: OGC) under a $20-million (U.S.) earn-in agreement. Brewer is located 13 kilometres from OceanaGold's producing Haile gold mine. Information from nearby properties is not necessarily indicative of the mineralization at Brewer.

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