Carolina Rush Appreciates Outgoing Directors, Welcomes New Director, and Reports Results of Annual General Meeting

Toronto, June 20, 2023 - Carolina Rush Corp. (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") is pleased to report that it successfully held its annual and special shareholder meeting (the "Meeting") on June 19, 2023 (see below for results), which marked the last day of service on the Board of Directors for two long-term directors, advisors, shareholders and tireless supporters of the Company: Mr. Laurence Curtis, PhD, and Mr. David Mosher. Outgoing independent chairman Mosher, together with previous independent chairman Mr. Don Whalen, co-founded the Company in 2007.

Carolina Rush President and CEO, Layton Croft, stated: "On behalf of the Board and Management, we sincerely thank Dave Mosher and Laurie Curtis for their many years of consistency and devotion to governing and advising this Company. We thank them each for the significant financial investments they have made over the years in purchasing, and never yet selling, shares of the Company. And we thank them for their steadfast, ongoing belief in the Company's purpose and people who work to create shareholder value. Dave and Laurie have been instrumental in securing the immense value potential Carolina Rush now has across its three past-producing gold and copper projects in South Carolina and North Carolina, especially at our flagship Brewer gold-copper project where we intend to resume drilling soon. Dave and Laurie will each remain active as strategic advisors to the Company for the forseeable future, and I am personally grateful to each of them for their respective wisdom, guidance and solidarity over the past 8 years I have known and worked with them."

The Company is pleased to welcome Mr. Gordon Babcock, P. Eng., as an independent director of Carolina Rush. Gordon is a mining executive and professional engineer with more than 42 years of experience. He has worked in mine management in both underground and open pit operations, project development, engineering, exploration, and mine consulting in precious, base metals and aggregate operations across the Americas. Currently a consultant, Gordon conducts due diligence reviews on mining assets and holds advisory roles with Latin America-based mining companies. He has been involved with new operations, asset optimizations and strategies for stakeholder engagement in Peru, Chile, Brazil, Honduras, Spain, Bolivia, Argentina, the U.S. and Canada. Gordon is a graduate of Queen's University and is a member of the Association of Professional Engineers Ontario.

Carolina Rush President and CEO, Layton Croft, stated: "We are very happy that Mr. Gordon Babcock has joined our Board as an independent director. He brings a wealth of executive-level mine building and mine operations expertise, which is timely and relevant given our vision to advance our Sawyer and New Sawyer gold projects in North Carolina towards development. Having a seasoned mining engineer on the Board further strengthens our capabilities to create shareholder value. We are grateful to Gordon for his belief in our Carolina Rush vision and his commitment to ensuring continued good governance and supporting strong business performance."

Results of AGM

All matters presented for approval at the Meeting were duly authorized and approved, as follows:

1. each of the following nominees was elected as a director of the Company. The results of the shares voted in person or by proxy in respect of the election of each director are:

2. the appointment of Jones & O'Connell LLP, Chartered Professional Accountants as the Company's auditor until the next annual meeting of shareholders and the board of directors were authorized to fix the remuneration of the auditor.
   
   
3. the approval and confirmation of the Company's stock option plan.

About Carolina Rush

Carolina Rush Corp. (TSXV: RUSH) (OTCQB: PUCCF) is exploring the Carolina Terrane in the southeastern USA. Its flagship project is the past-producing Brewer Gold Mine, located in Chesterfield County, South Carolina, 17 kilometers along trend from the producing Haile Gold Mine. Carolina Rush's 100%-owned, 648 hectare Jefferson Gold Project is continuous with and mostly surrounds the 389 hectare Brewer property. In January 2023, the Company signed exclusive mineral exploration lease and purchase option agreements for both the 246.6 hectare New Sawyer Gold Mine Property and the 54.6 hectare Sawyer Gold Mine Property, both located on the Sawyer Gold Trend and in Randolph County, North Carolina.

For further information, please contact:
Jeanny So, Corporate Communciations Manager
E: info@thecarolinarush.com
T: +1.647.202.0994

For additional information please visit our new website at http://www.TheCarolinaRush.com/ and our Twitter feed: @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.sedar.com. 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/170568