Mr. Layton Croft reports

CAROLINA RUSH IMPROVES COMMERCIAL TERMS OF BREWER OPTION AGREEMENT WITH GOVERNMENT

Carolina Rush Corp. has negotiated a major modification to its option agreement for the acquisition of the Brewer mine property in South Carolina, United States. The company has executed the sixth amendment to the Brewer option agreement with the Brewer gold receiver, significantly improving the terms for purchasing the Brewer property.

Highlights

• The estimated purchase price of $27-million (U.S.) will no longer be paid in a lump sum at closing;
• The purchase price will be paid in 10 equal annual instalments, starting if and when new mining operations are fully permitted by relevant state and federal authorities;
• Financial assurance at closing can be satisfied through one of five non-cash methods.

President and chief executive officer Layton Croft stated: "The sixth amendment significantly improves the commercial terms of our underlying Brewer option agreement, thus materially derisking the Brewer gold-copper project. We can now purchase the Brewer property without paying any cash until new mining operations are fully permitted. If and when that time comes, our payment plan is spread over a decade. We extend our sincere appreciation to the Brewer gold receiver, South Carolina's Department of Environmental Services, and the U.S. Environmental Protection Agency for their steadfast support of Carolina Rush."

Improved Brewer option terms

Under the previous terms, certain costs associated with the Brewer gold mine were payable in full upon closing of the property acquisition. The sixth amendment changes the timing of the payable, currently estimated to be approximately $27-million (U.S.), to be paid in 10 equal annual instalments of 10 per cent each, beginning if and when new mining operations are fully permitted. All other provisions of the agreement remain in full force and effect. See the company's Feb. 21, 2024, news release for more details.

About the Brewer gold-copper project

The Brewer gold-copper project consists of two land parcels for a total of 912 acres, located in Chesterfield county, South Carolina. Brewer was historically operated as an open-pit oxide gold mine. It produced approximately 178,000 ounces of gold before mining ended in the mid-1990s. Carolina Rush's exploration since 2020 has identified a large and complex magmatic-hydrothermal system below and around the former mine. The Brewer project contains near-surface gold-copper mineralization and deeper porphyry-style exploration potential.

The company recently completed an initial three-hole deep drilling program at Brewer. For drill results and analysis see the company's news releases of May 4, 2026, June 25, 2026, and July 13, 2026.

The company's 2025 Brewer maiden mineral resource estimate includes:

• An indicated mineral resource of 6.2 million tonnes grading 0.97 gram per tonne gold and 0.12 per cent copper, containing 192,000 ounces of gold, together with 16.7 million pounds of copper;
• An inferred mineral resource of 8.8 million tonnes grading 0.74 g/t gold and 0.04 per cent copper, containing 210,000 ounces of gold and 8.3 million pounds of copper;
• An additional inferred backfill mineral resource of 11.9 million tonnes grading 0.36 g/t gold and 0.03 per cent copper, containing 139,000 ounces of gold and 9.7 million pounds of copper.

The mineral resource estimate is supported by a technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate - Brewer Project," with an effective date of March 20, 2025. The report is filed on SEDAR+ and available on the company's website.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Patrick Quigley, MSc, CPG, vice-president of exploration for Carolina Rush and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 and the adjacent Jefferson project, in Chesterfield county, South Carolina. Brewer is a large, underexplored hydrothermal system with a near-surface epithermal gold NI 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.

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