Toronto, Ontario--(Newsfile Corp. - December 8, 2025) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") is pleased to announce that, all required approvals having been received in connection with the Earn-In Option Agreement (the "Agreement") between Carolina Rush and OceanaGold Corporation ("OceanaGold"), all conditions were satisfied and the Agreement became active on November 26, 2025 (see news releases of September 16, 2025 and November 27, 2025 for more information).
The newly formed joint Technical Committee, comprised of two members of each of the companies, has held its first meeting and approved the Stage 1 exploration program and budget, which includes approximately 3,000 meters of drilling beginning January 5, 2026. This Stage 1 exploration program and budget formally commences Phase 1 of the Agreement, during which OceanaGold must spend a minimum of US$1.5 million. To earn a 50% interest in the Brewer Project, OceanaGold must spend a total US$8 million by the end of 2027.
President and CEO of Carolina Rush, Layton Croft, stated: "Our partnership with OceanaGold is off to a great start. Combined technical expertise and knowledge of the large, complex Brewer system helps us de-risk and plan our inaugural deep drill program in alignment together. Our aim is to test Brewer's porphyry copper-gold potential."
Stage 1 Program Overview
The initial deep-drilling campaign will test high-priority porphyry copper-gold targets defined through geologic mapping, geochemistry, and the MT-IP geophysical survey:
- DDH A-1 - approximately 1,500 meters planned: oriented to test the strongest portion of the low-resistivity body interpreted as a potential porphyritic intrusion beneath and west of the former Brewer Mine.
- DDH A-2 - approximately 1,500 meters planned: contingent on A-1 results, this hole will test the southern margin and core of the deep resistivity anomaly, collared in quartz-sericite-pyrite altered volcanic rocks exposed on surface.
- DDH B-1: approximately 1,000 meters planned: designed to evaluate a separate deep MT-IP anomaly to the north-northwest, in an area with anomalous molybdenum, topaz, and trace chalcopyrite-bornite mineralization never previously drill-tested at depth.
These holes collectively aim to determine whether a Cu-Au porphyry system underlies the high-sulfidation epithermal mineralization historically mined at Brewer.
Figure 1: Locations of Proposed Deep Drill Holes for the upcoming drill program at Brewer Gold-Copper Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5156/277206_eae8168844a06b48_003full.jpg
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as defined by NI 43-101.
About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a Southeastern U.S.-focused exploration company advancing the Brewer Gold-Copper Project in South Carolina, which is now under an Earn-In Option Agreement with OceanaGold Corporation. Brewer is a large, underexplored system with demonstrated near-surface Au-Cu epithermal mineralization and potential for deeper porphyry-style mineralization. Brewer is located 13 km from OceanaGold's producing Haile Gold Mine, which has 2025 production guidance of 170,000-200,000 ounces of gold (source: www.oceanagold.com).
The information disclosed from nearby properties is not necessarily indicative to the mineralization at Brewer.
For further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E: info@thecarolinarush.com
T: +1.647.202.0994
For additional information please visit our website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277206
SOURCE: Carolina Rush Corporation
