Mr. Nick Rodway reports

CORE ASSETS DRILLS 4.55 METRES OF 116G/T AG, 11.7% PB+ZN, AND 0.41% CU AT THE JACKIE TARGET & EXHIBITS DRILLING CORE AT AME ROUND UP CONFERENCE IN VANCOUVER

Core Assets Corp. has released assay results from the 2023 shallow drilling campaigns completed at the Jackie and Grizzly carbonate replacement deposit (CRD) targets, part of the Silver Lime CRD-porphyry project, central Blue property, Atlin mining district of northwestern British Columbia.

In 2023, eight shallow diamond drill holes totalling 965 metres were completed at the Jackie CRD target. CRM and gold-bearing skarn mineralization highlighted below remain open for exploration in multiple directions and at depth.

Highlights from the Jackie CRD Target:

• Seven out of eight diamond drill holes completed at Jackie intersected massive-to-semi massive sulphide mineralization.
• SLM23-042 returned 4.55 metres of 116 grams per tonne silver, 11.7 per cent lead plus zinc and 0.41 per cent copper, including 1.10 m of 215 g/t Ag with 22.1 per cent Pb+Zn and 0.24 per cent Cu from surface, and 1.25 m of 198 g/t Ag, 20.8 per cent Pb+Zn and 1.04 per cent Cu from 2.10 m depth.
• SLM23-038 intersected 2.20 m of carbonate replacement mineralization from 17.05 m depth grading 187g/t Ag, 23.9 per cent Pb+Zn and 0.53 per cent Cu, including 1.15 m of 201 g/t Ag, 25.7 per cent Pb+Zn and 0.52 per cent Cu.
• SLM23-039 intersected 2.55 m of 61g/t Ag, 4.8 per cent Pb+Zn and 0.24 per cent Cu from eight m depth, including 0.50 m of 307g/t Ag, 24 per cent Pb+Zn and 1.21 per cent Cu from 10.05 m depth.
• SLM23-039 also returned 1.80 m of 68 g/t Ag, 7.3 per cent Pb+Zn and 0.31 per cent Cu from 53.65 m depth, including 0.65 m of 116g/t Ag, 10 per cent Pb+Zn and 0.53 per cent Cu.
• SLM23-041 intersected multiple zones of CRM including:
  • 2.50 m of 16g/t Ag, and 4.4 per cent Pb+Zn from 15.50 m depth, including 0.70 m of 45 g/t Ag, 13.7 per cent Pb+Zn and 0.21 per cent Cu;
  • 0.50 m of 53g/t Ag, 2.3 per cent Pb+Zn and 0.25 per cent Cu from 66.50 m depth;
  • 0.50 m of 85g/t Ag, 11.1 per cent Pb+Zn and 0.12 per cent Cu from 98.90 m depth;
  • 0.50 m of 28g/t Ag, 3.3 per cent Pb+Zn and 0.12 per cent Cu from 108.80 m depth.
• SLM23-043 intersected 18.15 m of 24 g/t Ag, and 3.3 per cent Pb+Zn, including one m of 152 g/t, 19.2 per cent Pb+Zn and 0.11 per cent Cu from surface, and 1.15 m of 206 g/t Ag, 24.4 per cent Pb+Zn and 0.23 per cent Cu from 14.25 m depth.
• SLM23-041 (and SLM23-040) also intersected multiple zones of gold-bearing skarn grading two m of 3.10 g/t Au within 10 m of 0.32 g/t Au from 70 m depth.
• Re-evaluation of 2022 drill core from Jackie identified a mineralized intrusion at 190.70 m depth in hole SLM22-004. This intrusion graded 46.7 g/t Ag, 0.4 per cent Zn, 0.7 per cent Pb and 0.19 per cent Cu over 7.90 m from 190.70 m depth, including two m of 126 g/t Ag, 0.8 per cent Zn, 2 per cent Pb and 0.60 per cent Cu, and 0.62 m of 338 g/t Ag, 2.1 per cent Zn, 5.8 per cent Pb and 1.55 per cent Cu. Mapping at the Jackie target in 2023 discovered a similar intrusion outcropping at surface approximately 100 m north of the 2022 drilling location.
• Outcropping pebble dikes, or tabular pipes of broken (brecciated) country rock, were also found at the Jackie, Gally and Pete's targets in 2023. Pebble dikes are common in many productive mining districts globally and can be strong indicators of prolonged magmatic-hydrothermal activity and the presence of a large, mineralized porphyry at depth.

"Results from the 2023 exploration program show strong evidence for the presence mineralization styles spanning the full porphyry-CRD spectrum at the Jackie target and across the Silver Lime project," said chief executive officer Nick Rodway. "The Silver Lime CRD-porphyry project contains impressive and widespread occurrences of six target metals, including silver, copper, zinc, lead, gold and molybdenum within a nine-by-10-kilometre district-scale mineralized footprint that has multideposit potential. Exciting assay results from the 2023 surface sampling program will be released shortly."

AME Roundup 2024

Core Assets is also pleased to announce that it has been selected to present drill core from its Silver Lime project at this year's Association for Mineral Exploration (AME) Roundup Core Shack on Jan. 24 to 25 at the Vancouver Convention Centre. Come see Core Assets at Core Shack booth No. 926 to meet the team and learn about the 2024 plans for the Silver Lime project.

2023 discoveries at the Jackie target

Drilling at the Jackie target in 2023 intersected several occurrences of high-grade massive-to-disseminated zones of Zn-Pb-Cu-Ag (plus or minus Au, tellurium, bismuth) carbonate replacement sulphide mineralization, and multiple zones of low-to-moderate-grade gold-bearing skarn altered metasediments. CRM mineralization intersected at Jackie in 2023 is associated with faults and splays located proximal to mineralized (causative) alaskite dikes.

Re-evaluation of 2022 drill core from Jackie identified a mineralized porphyritic intrusion at 190.70 m depth in hole SLM22-004. This intrusion graded 46.7 g/t Ag, 0.4 per cent Zn, 0.7 per cent Pb and 0.19 per cent Cu over 7.90 m from 190.70 m depth, including two m of 126g/t Ag, 0.8 per cent Zn, 2 per cent Pb and 0.60 per cent Cu, and 0.62 m of 338 g/t Ag, 2.1 per cent Zn, 5.8 per cent Pb and 1.55 per cent Cu. Mapping efforts at the Jackie target in 2023 discovered a similar intrusion outcropping at surface approximately 100 m north of the 2022 drilling location.

Outcropping pebble dikes, or tabular pipes of broken (brecciated) country rock, were also found at the Jackie, Gally and Pete's targets in 2023. Widespread and mineralized pebble dikes are common in many productive mining districts globally and can be strong indicators of prolonged magmatic-hydrothermal activity and the presence of a large, mineralized porphyry at depth. Locally, intrusive clasts that resemble the Sulphide City porphyry were observed in pebble dikes at the Pete's target. Further geochemical and geochronological investigations are under way to determine the relationships between intrusive units and mineralization styles across the Blue property.

In 2023, six diamond drill holes totalling 926.15 m were completed at the Grizzly CRD target.

Highlights from the Grizzly CRD target:

• SLM23-031 intersected 14 g/t Ag, 1 per cent Pb+Zn, 0.02 per cent Cu and 0.05 g/t Au over 12.30 m from 53.70 m depth, including 0.80 m of 103 g/t Ag, 6.9 per cent Pb+Zn, 0.13 per cent Cu and 0.60 g/t Au.
• SLM23-034 intersected 3.20 m of 22 g/t Ag, 0.60 per cent Pb+Zn and 0.04 per cent Cu from 124.80 m depth, including 0.50 m of 53 g/t Ag, 1.1 per cent Pb+Zn and 0.16 per cent Cu.
• SLM23-034 also returned 2.60 m of 3 per cent Zn from 183.40 m depth, including 0.60 m of 12.90 per cent Zn.
• SLM23.036 intersected 2.10 m of 31 g/t Ag and 0.80 per cent Pb+Zn from two m depth.
• SLM23-036 also intersected a zone of low-grade Au-bearing skarn grading 0.16 g/t Au over 1.60 m from 87.40 m.
• Moderate-to-low-grade Au-bearing skarn occurrences intersected in 2023 at the Jackie and Grizzly CRD targets spans approximately two kilometres.

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 kilometers).

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 Au (700 samples). High-grade carbonate replacement mineralization has been observed in folded marble host rocks ranging up to 250 m 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 mo-cu to iron-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 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, Cu and Zn 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 practise 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 have 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 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.