Carolina Reschedules Special Shareholder Meeting for November 26, 2025

Rhea-AI Summary

Carolina Rush (OTCQB: PUCCF) has rescheduled its special shareholder meeting to November 26, 2025 at 11:00 a.m. Toronto time. The Meeting relates to the company's proposed transaction with OceanaGold, to be completed under an earn-in to joint venture agreement executed on September 15, 2025 among Carolina Rush, Pancon Resources Carolinas, and OceanaGold Minerals U.S. Inc.

Management says the date change follows the end of a Canada Post strike and resumed mail delivery. The company expects to mail a management information circular and file related materials on SEDAR+ in due course and says approval would allow deep drilling to commence at the Brewer Gold-Copper Project in South Carolina.

Positive

• Meeting scheduled for Nov 26, 2025 at 11:00 AM Toronto
• OceanaGold earn-in JV executed on Sept 15, 2025
• Deep drilling planned at Brewer Gold-Copper Project

Negative

• Shareholder vote delayed from prior Oct 1 timeline
• Transaction contingent on shareholder approval and circular filing

Toronto, Ontario--(Newsfile Corp. - October 15, 2025) - Further to its news release of October 1, 2025, Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") is pleased to announce that it has rescheduled its special meeting of shareholders (the "Meeting"), to November 26, 2025, at 11:00 a.m. (Toronto time). The Meeting will be held in connection with the Company's proposed transaction with OceanaGold Corporation ("OceanaGold") to be completed pursuant to a earn-in to joint venture agreement (the "OceanaGold Agreement") executed on September 15, 2025 between the Company, Pancon Resources Carolinas Corporation (formerly Palmetto Mining Corporation) ("Pancon Carolinas"), a wholly-owned subsidiary of the Company, and OceanaGold Minerals U.S. Inc. ("OceanaGold"), a wholly-owned subsidiary of OceanaGold.

Carolina Rush President and CEO Layton Croft stated: "We are pleased to move forward with this important shareholder meeting now that Canada Post workers have ended their nationwide strike and mail delivery has largely resumed. We look forward to the opportunity to secure shareholder approval and commence deep drilling in partnership with OceanaGold at our Brewer Gold-Copper Project in South Carolina."

Further details will be provided in the Company's management information circular, to be filed on SEDAR+ (www.sedarplus.ca) and mailed to shareholders in due course.

About Carolina Rush
Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a Southeastern U.S.-focused exploration company advancing its 100%-owned Brewer Gold-Copper Project in South Carolina. Brewer is a large, underexplored system with the potential to host both near-surface epithermal and 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).

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.

Completion of the proposed transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and shareholder approval by special resolution. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Carolina Rush Corporation should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

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.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/270409

FAQ

When is Carolina Rush (PUCCF) holding the rescheduled special shareholder meeting?

The special meeting is set for November 26, 2025 at 11:00 a.m. Toronto time.

What transaction will PUCCF shareholders vote on at the November 26, 2025 meeting?

Shareholders will vote on the proposed earn-in to joint venture agreement with OceanaGold executed on September 15, 2025.

Why did Carolina Rush (PUCCF) reschedule the shareholder meeting to November 26, 2025?

Management said the meeting was moved now that a nationwide Canada Post strike ended and mail delivery largely resumed.

Will Carolina Rush (PUCCF) file documents ahead of the November 26, 2025 meeting?

Yes; the company will file a management information circular on SEDAR+ and mail materials to shareholders.

What operational activity is planned if PUCCF shareholders approve the OceanaGold agreement?

Approval would allow the company to commence deep drilling at the Brewer Gold-Copper Project in South Carolina.

Is the OceanaGold agreement with Carolina Rush (PUCCF) already signed?

Yes; the earn-in joint venture agreement was executed on September 15, 2025.