Toronto, Ontario--(Newsfile Corp. - August 8, 2025) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush," "Rush" or the "Company") announced that, as a result of a review by staff of the Ontario Securities Commission ("OSC"), the Company has amended and refiled its Technical Report titled "NI 43-101 Technical Report on the Brewer Gold -Copper Project, South Carolina", originally filed on May 2, 2025.
The OSC review was conducted as part of its continuous disclosure review program specifically related to the requirements under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
The Company has addressed the following items in the amended Technical Report:
- Authorship and independence: Patrick Quigley, the Company's Senior Geologist and Exploration Manager, was removed as a co-author of the report to comply with NI 43-101 requirements for independent authors. Patrick Hollenbeck, an independent Qualified Person, assumes sole authorship and responsibility.
- Updated CIM Guidelines: The amended report reflects the current CIM Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines (2019) instead of the outdated 2003 version.
- Metallurgical Recovery: A responsible metallurgical recovery assumption, based on historical Hazen test work (1984), was applied to support the cut-off grade used in the mineral resource estimate.
- Constraining surfaces for RPEEE: To demonstrate reasonable prospects for eventual economic extraction (RPEEE), the Company constrained the mineral resource within a conceptual open-pit shell.
- Clarification on High-Grade Assay Handling: Additional disclosure was provided on the use of "high-yield limits" to constrain the influence of statistical outliers.
Table 1: Amended Brewer in Situ Mineral Resource Statement (0.4 g/t Au cutoff)
| Average Value | Material Content | ||||
| I&I | Mass | Au | Cu | Au | Cu |
| thousand tonnes | g/t | ppm | thousand oz | thousand lbs. | |
| Indicated | 6,167 | 0.97 | 1,266 | 192 | 16,671 |
| Inferred | 8,828 | 0.74 | 425 | 210 | 8,279 |
| Differences may occur in totals due to rounding. | |||||
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
(5) A NI 43-101 Technical Report supporting the Maiden Mineral Resource Estimate is filed on SEDAR+ at www.sedarplus.ca. Investors are encouraged to review the full report, which will provide further details on key assumptions, parameters, and risks associated with the Mineral Resource Estimate.
Table 2: Brewer Inferred Backfill Mineral Resource Statement as announced on March 20, 2025 (not impacted based on refiling of Technical Report):
| Average Value | Material Content | ||||
| Backfill Model | Mass | Au | Cu | Au | Cu |
| thousand tonnes | g/t | ppm | thousand oz | thousand lbs. | |
| HLP 1-4 | 2,000 | 0.17 | 94 | 11 | 414 |
| HLP 5 | 1,579 | 0.49 | 863 | 25 | 3,007 |
| HLP 6 | 2,429 | 0.22 | 292 | 17 | 1,561 |
| Waste Rock | 5,892 | 0.46 | 313 | 86 | 4,068 |
| Total | 11,900 | 0.36 | 345 | 139 | 9,050 |
| Differences may occur in totals due to rounding. | |||||
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve.
(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
(5) Details on the metallurgical properties and processing methods required to extract gold and copper from the backfill material have not been undertaken. As such, the Backfill resource is considered theoretical and additional studies are required to report the inferred resources at a higher level of confidence.
(6) A NI 43-101 Technical Report supporting the Maiden Mineral Resource Estimate is filed on SEDAR+ at www.sedarplus.ca. Investors are encouraged to review the full report, which will provide further details on key assumptions, parameters, and risks associated with the Mineral Resource Estimate.
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 U.S.-focused exploration company 100% committed to advancing the Brewer Gold-Copper Project in South Carolina—a large, underexplored system with the potential to host both near-surface epithermal and deep porphyry-style mineralization. Located just 13 km from OceanaGold's producing Haile Gold Mine, Brewer is a past-producing operation now under modern exploration.
For further information, please contact:
Layton Croft, President and CEO
or
Jeanny So, Corporate Communications Manager
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
T: +1.647.202.0994
For additional information please visit our new 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. This news release contains forward-looking information pertaining to the Company's 2025 Maiden MRE; that the mineral resource remains open at depth, the potential for future MRE growth from deeper drilling, and/or future exploration. 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.
