Mr. Nicholas Rodway reports

HIGH-GRADE AG-PB-ZN AT CORE ASSETS SILVER LIME 6.4 METRES OF 159G/T AG (5.1 OZ/T), 16.4% PB + ZN & 0.23% CU - PART OF A 2.4KM TREND

Core Assets Corp. has released assays from the first-ever drilling program at Pete's CRD (carbonate replacement deposit) target, part of the Silver Lime CRD porphyry project on the central Blue property in the Atlin mining district of northwestern British Columbia.

Highlights:

• Drilling at Pete's CRD target has confirmed a new near-surface/at-surface CRD discovery consisting of multiple high-grade zones over 10 separate drill holes totalling approximately 28 metres and is open in all directions. The drill continues to turn at Silver Lime.
• SLM23-028 intersected 6.40 metres grading 159 grams per tonne silver, 8.7 per cent lead, 7.7 per cent zinc and 0.23 per cent copper from 27.43 metres depth, including 0.57 metre of 301 grams per tonne silver, 11.5 per cent lead, 10.7 per cent zinc and 0.31 per cent copper.
• SLM23-019 intersected 2.12 metres grading 260 grams per tonne silver, 5.2 per cent lead, 5.9 per cent zinc and 0.19 per cent copper from 34.53 metres depth, including 0.60 metre of 472 grams per tonne silver, 6.8 per cent lead, 8.3 per cent zinc, 0.33 per cent copper and 0.12 gram per tonne gold.
• SLM23-016 intersected 3.33 metres of 138 grams per tonne silver, 7.2 per cent lead, 7.3 per cent zinc and 0.54 per cent copper from surface, including 1.25 metres of 241 grams per tonne silver, 13.4 per cent lead, 17.0 per cent zinc and 0.77 per cent copper.
• SLM23-020 intersected 4.20 metres of 111 grams per tonne silver, 2.8 per cent lead, 3.2 per cent zinc and 0.10 per cent copper from 32.30 metres depth, including 1.00 metre of 296 grams per tonne silver, 7.5 per cent lead, 9.5 per cent zinc and 0.25 per cent copper.

Core Assets president and chief executive officer Nick Rodway commented: "The purpose of the 2023 drilling is to show how large and high grade this system really is. Our results prove that the substantial silver, lead and zinc grades observed at surface continue along trend and with depth. Being able to achieve results such as these this early in our project is a huge success for our team. We can't wait to begin drilling at the Gally CRD target, which is one of our newest surficial discoveries and contains some of the highest-grade silver (greater than 1,000 grams per tonne) sampled at the project to date. High-grade mineralization at the Gally target runs for more than two kilometres along the same trend as Pete's. We look forward to continuing to provide updates as they become available."

Preliminary assay results from Pete's CRD target have confirmed the discovery of a new high-grade lead-silver-zinc-copper-plus-or-minus-gold CRD zone at shallow depths (see attached table). Currently, 1,669 metres of diamond drilling (15 holes) have been completed across three drill pad locations and within a 100-metre stepout. This release represents approximately 28 metres of the highest-grade (visually) mineralized zones encountered. Drilling was designed to test the downdip extension of marble-hosted carbonate replacement and skarn mineralization associated with multiple generations of intrusions.

Pete's CRD target represents an additional lead-silver-zinc-plus-or-minus-copper-gold discovery at Silver Lime, residing along a 2.4-kilometre-long mineralized trend, which also includes the Sulphide City porphyry skarn and high-grade Gally CRD target.

Drilling has now begun at the Jackie target and will be followed by the Gally CRD target to test the mineralization potential at depth of a recently exposed and continuous carbonate replacement manto. Surface samples collected from outcropping massive sulphide collected at the Gally CRD target in 2022 graded up to 1,115 grams per tonne silver.

Geophysical data highlight linear magnetic anomalies that extend from the south of the Silver Lime project, through the Gally and Grizzly CRD targets, and are locally coincident with the known boundaries of the Sulphide City molybdenum (and copper) porphyry and high-grade skarn. Magnetic intrusions and dikes associated with massive iron-zinc-copper-rich skarn mineralization are potentially generating this geophysical response. Surficial and downhole assays show a general increase in silver and lead grade trending outward from the Sulphide City porphyry and along the edges of the moderate-to-high magnetic anomalies at the Gally, Pete's and Grizzly CRD targets.

About the Silver Lime CRD porphyry project

The Silver Lime project is predominantly hosted in carbonate rocks of the Florence range metamorphic suite (around 1.15 billion years old). Target limestone and marble host rocks are intercalated with upper-amphibolite-grade metapeltic rocks, quartzite and amphibole-bearing gneiss. The protoliths to the metasedimentary units include continentally derived clastic strata and platform carbonate, whereas the amphibole-bearing gneiss is interpreted as probable basaltic flows, sills, dikes and tuffaceous units related to early rifting of the ancestral North America continental margin (Mihalynuk, 1999). Younger felsic to intermediate intrusive rocks are also widespread within the project area and range from Triassic to Eocene in age. Widespread Eocene magmatic activity was associated with Cordillera-wide, brittle strike-slip faulting. Eocene volcano-plutonic centres in the western Cordillera are known to host porphyry-type, skarn-type and epithermal-type mineralization extending from the Golden Triangle in northwestern British Columbia to the Tally-Ho shear zone in Yukon (greater than 100 kilometres).

A total of 5,565 metres of exploratory diamond drilling was completed at the Silver Lime CRD porphyry project during the company's inaugural drilling campaign in 2022. First-pass drilling successfully confirmed the presence of high-grade silver-lead-zinc-copper carbonate replacement (CRD) mineralization at depth as well as widespread porphyry molybdenum mineralization and associated mineralized skarn.

The explored extent of the Silver Lime CRD porphyry project currently measures 10 kilometres by 9.5 kilometres and boasts an average surficial grade of 83 grams per tonne silver, 1.8 per cent lead, 3.4 per cent zinc, 0.22 per cent copper and 0.16 gram per tonne gold (700 samples). High-grade carbonate replacement mineralization has been observed in folded marble host rocks ranging up to 250 metres thick. In 2022, silver-zinc-lead-copper-bearing mineralization was intersected near the bottom of Sulphide City hole SLM22-006 near 453 metres depth.

Currently, the Silver Lime Project consists of 7 highly prospective targets that span the complete mineralization spectrum from Porphyry Mo-Cu to Fe-Zn-Cu-Ag massive sulphide skarn (Sulphide City) and Ag-Pb-Zn-Cu-Au carbonate replacement mineralization (Gally, Pete's, Grizzly, Jackie), to distal, sediment-hosted Ag-Au bearing quartz veining and Au-bearing base metal sulphide vein occurrences (Amp, Falcon). Prospecting and surface sampling in 2022 more than doubled the number of exposed, high-grade carbonate replacement massive sulphide targets at Silver Lime that remain open in all directions and at depth.

Sampling Protocol, Quality Assurance & Quality Control

All recovered drill core was transported by helicopter to the core logging facility in Atlin, British Columbia for processing. Down hole surveys were conducted on all drill holes upon termination, using a Reflex Gyro Sprint downhole survey tool equipped with an azimuth positioning capability. Drill core was typically sampled over two-meter intervals and occasionally reduced in areas of higher visual sulphide mineralization. Core samples were cut in half with an electric core saw, bagged, labelled, sealed, and submitted to ALS Minerals preparation facility in Whitehorse, YT with the remaining core stored in Atlin, BC. Half core samples were finely crushed and sieved to <75 microns. Samples were then shipped to ALS Geochemistry in North Vancouver, British Columbia where they were analysed for Au by fire assay with an AA finish, over limits for Ag, Pb Cu, and Zn and additional elements were analysed using four acid digestion with an ICP-AES or ICP-MS finish, In some cases, gravimetric separation was used to determine and compare Ag overlimit assays.

Blank rock (siliceous river rock), duplicate, and certified reference materials were inserted into the sample stream for at least every 20 samples. Certified reference materials were acquired from OREAS North America Inc. of Sudbury, Ontario and CDN Resource Laboratories Ltd. of Langley, British Columbia for the 2023 diamond drilling campaign.

National Instrument 43-101 Disclosure

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 100359) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

About Core Assets Corp.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100 per cent ownership in the Blue Property, which covers a land area of114,074 hectares (~1,140 km Superscript 2). The project lies within the Atlin Mining District, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue Property hosts a major structural feature known as The Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the Blue Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the Blue Property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in British Columbia's Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

We seek Safe Harbor.