Mr. Layton Croft reports

CAROLINA RUSH APPOINTS PATRICK QUIGLEY VICE PRESIDENT OF EXPLORATION, GRANTS RSUS AND OPTIONS, EXTENDS WARRANTS

Carolina Rush Corp. has appointed Patrick Quigley as vice-president of exploration of the company effective immediately.

Carolina Rush chief executive officer Layton Croft stated: "Patrick is an exceptional economic geologist who has consistently performed at a high level since joining our team in mid-2020. He was appointed senior geologist and exploration manager in January, 2022, and serves as our qualified person. Patrick's 18 years of professional experience spans the United States and parts of Latin America. His extensive knowledge of exploration opportunities in the southeastern U.S. includes unmatched expertise of Brewer's large, complex and highly prospective gold-copper epithermal-porphyry system. I am grateful to Patrick for his dedication, technical excellence, leadership and integrity. Our company is stronger with Patrick serving as our vice-president of exploration."

On July 9, 2026, the company granted an aggregate of 1,035,000 restricted share units (the RSU) and 1,075,000 stock options to certain directors, officers, employees and consultants of the company. The RSUs shall vest as to one-third on the first anniversary of the date of grant; one-third on the second anniversary of the date of grant; and one-third on the third anniversary of the date of grant. Each option entitles the holder thereof to purchase common shares in the capital of the company exercisable at a price of 16 cents per common share for a period of three years from the date of issuance. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

In addition, subject to the required approval from the TSX Venture Exchange, the company intends to extend the expiry date of an aggregate of 7,624,468 common share purchase warrants. The 7,624,468 warrants were originally issued pursuant to a brokered private placement offering of 14,238,236 units in the capital of the company at a price of 15 cents per unit which closed on Aug. 15, 2023. Each unit comprises one common share and one-half of one warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 20 cents until Aug. 15, 2026. The company will enter into a supplemental warrant indenture amending the expiry date of the warrants from Aug. 15, 2026, to Aug. 15, 2027. All other terms and conditions of the warrants remain unchanged.

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. Brewer is 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 Corp. (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.

We seek Safe Harbor.