Carolina Rush Cancels Shareholder Meeting Due to Canada Post Strike, Will Reschedule Once Strike Ends

Rhea-AI Summary

Carolina Rush (OTCQB: PUCCF) has announced the cancellation of its special shareholder meeting originally scheduled for October 21, 2025, due to the ongoing Canada Post national strike that began on September 25, 2025. The meeting was intended to address the company's earn-in to joint venture agreement with OceanaGold Corporation signed on September 15, 2025.

The company requires mailing printed copies of meeting materials to shareholders at least 21 days before the meeting date, as per regulatory requirements. The meeting will be rescheduled once postal services resume. Meanwhile, Carolina Rush continues preparation work with OceanaGold for a planned deep drill program at the Brewer project, which awaits shareholder approval.

Positive

• Ongoing preparation work with OceanaGold for deep drill program at Brewer project
• Strategic joint venture agreement with OceanaGold Corporation in place

Negative

• Delay in shareholder approval process due to postal strike
• Uncertainty in timeline for rescheduling the special meeting

Toronto, Ontario--(Newsfile Corp. - October 1, 2025) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") announces that it has cancelled its special meeting of shareholders (the "Meeting"), which was to be held on October 21, 2025, at 11:00 a.m. (Toronto time) due to the national strike commenced by the Canadian Union of Postal Workers on September 25, 2025 (the "Strike"). The Meeting was being held in connection with its transaction with OceanaGold Corporation 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 Corporation ("OG").

Carolina Rush President and CEO Layton Croft stated: "We had all necessary Circular materials for the October 21 special shareholder meeting printed and ready to mail out on the morning of September 26. The Canada Post strike announced late the day before was unexpected and obviously beyond our control. As a result, we will reschedule the special meeting of shareholders once we get clarity on when Canada Post will resume operations. Regulatory rules require that printed hard copies of the Circular be mailed to all shareholders at least 21 calendar days before the meeting. We will do everything we can to expedite the process, and we will provide additional details when we have them. Meantime, we are making progress working with the talented folks at OceanaGold to prepare for our deep drill program at Brewer, which will commence upon securing Rush shareholder approval. I personally thank all shareholders for your understanding and patience with this unanticipated situation."

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.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/268625

FAQ

Why did Carolina Rush (PUCCF) cancel its October 21, 2025 shareholder meeting?

Carolina Rush cancelled the meeting due to the Canada Post national strike that began on September 25, 2025, preventing the company from mailing required meeting materials to shareholders.

What is the purpose of Carolina Rush's (PUCCF) special shareholder meeting?

The meeting is being held to obtain shareholder approval for the earn-in to joint venture agreement with OceanaGold Corporation signed on September 15, 2025.

When will Carolina Rush (PUCCF) reschedule its special shareholder meeting?

The meeting will be rescheduled once Canada Post resumes operations, allowing the company to mail required materials at least 21 days before the new meeting date.

What is the status of Carolina Rush's (PUCCF) Brewer drilling program with OceanaGold?

The deep drill program at Brewer is in the preparation phase but cannot commence until shareholder approval is secured for the joint venture agreement.

What are the regulatory requirements for Carolina Rush's (PUCCF) shareholder meeting materials?

Regulatory rules require the company to mail printed hard copies of the Circular to all shareholders at least 21 calendar days before the meeting.