Mr. Nick Rodway reports

CORE ASSETS EXTENDS PETE'S-SULPHIDE CITY-GALLY MINERALIZED TREND TO 2.5KM WITH MASSIVE SULPHIDE AT SURFACE GRADING UP TO 680G/T AG, >36.4% PB+ZN & 0.55% CU

Core Assets Corp. has released assay results from the 2023 surface sampling campaign at the Silver Lime CRD (carbonate replacement deposit) porphyry project, central Blue property, Atlin mining district of northwest British Columbia.

Highlights

In 2023, 89 surficial rock samples were collected within the 9.5-kilometre-by-10-kilometre mineralized footprint at the Silver Lime project. The highest-grade rock samples collected last season are listed herein.

Core Assets' president and chief executive officer Nick Rodway commented: "The Team continues to discover significant, high-grade mineralization at surface at Silver Lime enhancing the surficial footprint and metal endowment of the project. We are currently preparing for another exciting and fully funded exploration season at Silver Lime which will continue to prove how significant this polymetallic deposit is."

At the Gally target, located immediately southwest of the Sulphide City porphyry, high-grade, silver-lead-zinc mineralization was extended by 850 metres along trend to the south, increasing the Pete's-Sulphide City-Gally trend to 2.5 kilometres in length. Samples of marble-hosted massive sulphide carbonate replacement and sulphide-bearing veins in schist were collected along this trend extension in 2023 and graded up to 680 grams per tonne Ag, greater than 20 per cent Pb, 14 per cent Zn, 0.55 per cent copper, 0.75 g/t gold, 0.14 per cent bismuth and 155 parts per million tellurium.

The company's longest and best drilling intercepts to date were obtained from the Pete's and Gally targets in 2023. SLM23-028 intersected 6.40 m grading 159 g/t Ag, 8.7 per cent Pb, 7.7 per cent Zn and 0.23 per cent Cu from 27.43 m depth, including 0.57 m of 301 g/t Ag, 11.5 per cent Pb, 10.7 per cent Zn and 0.31 per cent Cu, whereas SLM23-048 returned eight m of 139 g/t Ag, 3.5 per cent Pb+Zn and 0.18 per cent Cu, including 0.50 m of 1,030 g/t Ag, 32.4 per cent Pb+Zn, 1.16 per cent Cu, 0.19 per cent Bi and 270 ppm Te from surface.

This year's surface sampling program also extended mineralization at the Jackie CRD target, where six out of the top 10 samples were collected, returning up to 1,130 g/t Ag with 13.5 per cent Zn, 7.3 per cent Pb, 0.25 per cent Bi and 240 ppm Te.

High-grade carbonate replacement mineralization was extended for 35 m along trend to the northwest at Jackie in 2023, where semi-massive sulphide veins grading up to 347 g/t Ag, 9.3 per cent Pb, 5.5 per cent Zn, 0.41 g/t Au, 0.36 per cent Cu and 110 ppm Te were found crosscutting an intermediate dike.

The company looks forward to presenting its 2023 exploration summary and announcing its plans for the 2024 program in the coming weeks.

In 2023, 12 samples returned over 200 g/t Ag, 14 greater than 2 per cent Pb, 26 greater than 2 per cent Zn and 14 samples graded over 0.20 per cent Cu.

Superimposed high-grade mineralization styles spanning the full CRD-porphyry continuum are widespread at the Silver Lime CRD-porphyry project.

Steep, district-scale (greater than one kilometre) and long-lived structures affect all country rocks surrounding the younger mineralized intrusions at Silver Lime, including marble, limestone and variable schist. These structures served as ore fluid pathways for recurring mineralizing events -- meaning that significant base and precious metal occurrences reside together along these deep structures and manifest as massive to semi-massive replacement-style or semi-massive and disseminated vein-hosted styles of mineralization.

The company has recently obtained ASTER and Sentinel-2 remote sensing data for the entirety of the 1,140 square km Blue property mineral tenure. Spaceborne multispectral data sets are used to identify mineralogical assemblages from prospective host rocks, alteration halos and target mineralization styles on a regional scale.

Other works in progress include the development of dynamic 3-D structural models for the company's target areas at the Silver Lime CRD-porphyry project with SRK Consulting prior to the start of the 2024 field season, and comprehensive geochronological studies in conjunction with academics at the University of Portsmouth, Portsmouth, United Kingdom, focusing primarily on U-Pb age dating of carbonate and prospective porphyries and dikes at the Laverdiere and Silver Lime projects.

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 northwest British Columbia to the Tally-Ho shear zone in Yukon (greater than 100 kilometres).

To date, A total of 9,809.70 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. 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 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 and 2023 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 and rock samples were 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. Surficial rock samples were bagged, labelled and sealed prior to submittal to ALS Minerals as well; however, no further processing was completed for surface samples in Atlin, B.C. Half core samples and rock samples submitted to ALS 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. For surficial rock samples, certified reference materials and blanks were inserted in the sample stream for every 20 samples, on average. 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.