Mr. Nick Rodway reports

CORE ASSETS DRILLS 1,030G/T AG, 32.4% PB+ZN, AND 1.16% CU WITHIN 8M OF 139G/T AG AND 3.5% PB+ZN AT GALLY

Core Assets Corp. has released assay results from the 2023 maiden drilling campaign at the Gally carbonate replacement deposit (CRD) target, part of the Silver Lime CRD-porphyry project, central Blue property, Atlin mining district of northwestern British Columbia.

Highlights:

• Gally drilling has successfully intersected extremely high-grade at-/near-surface silver-lead-zinc-copper mineralization over appreciable widths in 10 holes defining the greater than 2.4-kilometre mineralized trend (Gally-Sulphide City-Pete's trend) from surface to depth.
• The high-resolution 3-D DC induced polarization/resistivity geophysical survey conducted over the drilled greater than 2.4km trend is now complete. The combination of results from oriented stepout drilling and the IP survey will assist with modelling the geometry of the porphyry-skarn-CRD mineralized system along this trend and aid in continued drilling (see news release dated Sept. 12, 2023).

Highlighted drill intercepts:

• SLM23-048 intersected eight metres of 139 grams per tonne Ag, 3.5 per cent Pb plus Zn and 0.18 per cent Cu from surface, including 1.30 m of 845 g/t Ag, 31.3 per cent Pb plus Zn and 1.10 per cent Cu, including 0.50 m of 1,030 g/t Ag, 32.4 per cent Pb plus Zn and 1.16 per cent Cu.
• SLM23-046 intersected 10 m of 75 g/t Ag, 2.8 per cent Pb plus Zn and 0.23 per cent Cu from three m depth, including 0.50 m of 652 g/t Ag, 16.3 per cent Pb plus Zn and 3.13 per cent Cu.
• SLM23-049 intersected 4.50 m of 111 g/t Ag, 4 per cent Pb plus Zn and 0.12 per cent Cu from 3.40 m depth, including 0.60 m of 649 g/t Ag, 22.9 per cent Pb plus Zn and 0.71 per cent Cu.
• SLM23-047 intersected 4.25 m of 94 g/t Ag, 3.7 per cent Pb plus Zn and 0.38 per cent Cu from 15 m depth, including 0.60 m of 340 g/t Ag, 11.5 per cent Pb plus Zn and 0.29 per cent Cu.
• SLM23-045 intersected two m of 170 g/t Ag, 3.7 per cent Pb plus Zn and 0.15 per cent Cu from surface, including 0.40 m of 842 g/t Ag, 17.5 per cent Pb plus Zn and 0.72 per cent Cu.
• Final assays for the Jackie and Grizzly targets are pending and final data for the Dias 3-D IP survey are currently being processed.

"We continue to improve our knowledge and confidence in the greater than 2.4 km Pete's to Gally mineralized trend at Silver Lime," chief executive officer Nick Rodway commented. "Silver-rich sulphide mineralization can be seen at surface over the entirety of the 2.4 km trend and has now been intersected at multiple notable depths from surface to 453 metres. The IP/resistivity geophysical survey covers this whole trend and will be instrumental in continuing to define the geometry of this system at depth. The team is eagerly awaiting assay results from the Jackie and Grizzly CRD targets and to provide an update on the remainder of the 2023 drilling program."

In 2023, 697.70 metres of shallow, exploratory diamond drilling was completed at the Gally CRD target. The drill was positioned approximately 325 metres south-southwest of 2022 Sulphide City drilling above an exposed, 35-metre-long high-grade Ag-Zn-Pb-Cu carbonate replacement bleeder hosted in coarse-grained marble. Feathery galena (Ag greater than Pb) grains, as well as extremely coarse-grained sphalerite (Zn) and chalcopyrite (Cu) were observed in almost every hole. A series of mineralized and boudinaged felsic dikes swarm the subsurface and are believed to be the key to following and targeting high-grade Ag-Zn-Pb-Cu mineralized zones at depth and south of the current Gally CRD target.

About the Silver Lime CRD-porphyry project

The Silver Lime project is predominantly hosted in carbonate rocks of the Florence Range metamorphic suite (approximately 1,150 million years). 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 (that is, 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, skarn 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).

To date, a total of 9,825 metres of exploratory diamond drilling has been completed at the Silver Lime CRD-porphyry project. First-pass drilling successfully confirmed the presence of high-grade Ag-Pb-Zn-Cu 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 km by 9.5 km and boasts an average surficial grade of 83 g/t Ag, 0.22 per cent Cu, 1.8 per cent Pb, 3.4 per cent Zn and 0.16 g/t gold (700 samples). High-grade carbonate replacement mineralization has been observed in folded marble host rocks ranging up to 250 metres thick. In 2022, Ag-Zn-Pb-Cu-bearing mineralization was intersected near the bottom of Sulphide City hole SLM22-006 near 453 metres depth.

Currently, the Silver Lime project consists of seven highly prospective targets that span the complete mineralization spectrum from porphyry molybdenum-copper to iron-zinc-copper-silver 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 and quality control

All recovered drill core was transported by helicopter to the core logging facility in Atlin, B.C., for processing. Down-hole surveys were conducted on all drill holes upon termination, using a Reflex Gyro Sprint down-hole survey tool equipped with an azimuth positioning capability. Drill core was typically sampled over two-metre 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, Yukon, with the remaining core stored in Atlin, B.C. Half core samples were finely crushed and sieved to less than 75 microns. Samples were then shipped to ALS Geochemistry in North Vancouver, B.C., where they were analyzed for Au by fire assay with an atomic absorption finish, overlimits for Ag, Pb, Zn and Cu and additional elements were analyzed using four-acid digestion with an inductively coupled plasma atomic emission spectroscopy or inductively coupled plasma mass spectrometry 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, Ont., and CDN Resource Laboratories Ltd. of Langley, B.C., for the 2023 diamond drilling campaign.

National Instrument 43-101 disclosure

Mr. Rodway, PGeo (licence No. 46541) (permit to practice No. 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 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 of 114,074 hectares (approximately 1,140 square km). 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 140 km in length and runs from the Tally-Ho shear zone in 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 1980s. 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 CRD-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.