Carolina Rush, Oceanagold OK Brewer Stage 1 exploration

Executive Summary

• Carolina Rush Corp. and Oceanagold Corp. have activated their earn-in option agreement for the Brewer project, with all conditions satisfied as of November 26, 2025.
• A joint technical committee has approved the Stage 1 exploration program, which includes approximately 3,000 metres of deep drilling scheduled to commence on January 5, 2026.
• The drilling aims to test for porphyry copper-gold potential beneath the historically mined high-sulphidation epithermal mineralization at Brewer.

Key Details

• Partnership Status: The earn-in option agreement between Carolina Rush Corp. and Oceanagold Corp. became active on November 26, 2025, following receipt of all required approvals and satisfaction of conditions.
• Earn-In Requirements: Oceanagold must spend a minimum of $1.5 million (U.S.) during Stage 1 to earn a 50% interest in the Brewer project. A total spend of $8 million (U.S.) is required by the end of 2027 to fully earn the interest.
• Drilling Program Overview (Stage 1):
  • Total Planned Drilling: Approximately 3,000 metres.
  • Start Date: January 5, 2026.
  • Objective: Test high-priority porphyry copper-gold targets defined by geologic mapping, geochemistry, and MT-IP geophysical surveys.
• Specific Drill Holes:
  • DDH A-1 (~1,500m): 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 (~1,500m): Contingent on A-1 results; will test the southern margin and core of the deep-resistivity anomaly, collared in quartz-sericite-pyrite altered volcanic rocks.
  • DDH B-1 (~1,000m): Designed to evaluate a separate deep MT-IP anomaly to the north-northwest, targeting areas with anomalous molybdenum, topaz, and trace chalcopyrite-bornite mineralization never previously drill tested at depth.
• Geological Context: The program aims to determine if a copper-gold porphyry system underlies the high-sulphidation epithermal mineralization historically mined at Brewer.
• Qualified Person: Patrick Quigley, MSc, CPG-12116, Senior Geologist and Exploration Manager, reviewed and approved the technical information in accordance with NI 43-101.
• Nearby Operations: Brewer is located 13 kilometres from Oceanagold's producing Haile gold mine, which has 2025 production guidance of 170,000 to 200,000 ounces of gold.

Notable Quotes

• "Our partnership with Oceanagold is off to a great start. Combined technical expertise and knowledge of the large, complex Brewer system helps us derisk and plan our inaugural deep drill program in alignment together. Our aim is to test Brewer's porphyry copper-gold potential." — Layton Croft, President and CEO of Carolina Rush