Core Assets Samples 4.3% Cu, 31g/t Ag, 0.63% Mo, and 0.13 g/t Au at Surface & Summarizes 2022 Exploration Work at the Laverdiere Skarn-Porphyry Project

VANCOUVER, BC / ACCESSWIRE / May 16 2023 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) is pleased to summarize work completed during the 2022 exploration program at the Laverdiere Skarn-Porphyry Project (the "Laverdiere Project" or "Laverdiere"), at the Blue Property (the " Blue Property") located in the Atlin Mining District of NW British Columbia.

Prospecting and surface sampling at Laverdiere in 2022 extended the trend of exposed Cu-porphyry mineralization along Hoboe Creek (Lewellyn Fault Zone/LFZ) to 3.9KM south of the North Adit (Figure 1). Historic and high-grade, Cu-(Mo-Au)-bearing porphyry-style veins were also located in 2022 and graded up to 3.24% Cu, 0.30% Mo, 82g/t Ag, and 0.56g/t Au. These vein sets trend east-west and reside within a large resistive zone coinciding with the extents of the Laverdiere Porphyry. Historically, veining near this location graded up to 2.73% Cu and veins can currently be observed at surface, following the orientations of prominent faults, for up to 2.2KM west-southwest of the South Adit (Figure 1).

Additionally, 14 rock samples were collected along the 850m stretch of high-grade Fe-Cu-Au-Mo skarn mineralization in 2022 (2022 drilling area; Figure 1). Eight of these samples produced grades higher than 1.0% Cu. One rock sample, collected immediately southeast of the South Adit in 2022 returned 4.3% Cu, 31g/t Ag, 0.63% Mo, and 0.13g/t Au.

Core Assets' President & CEO Nick Rodway commented, "High-grade historic copper mineralization at the Laverdiere Project is what initially peaked the Company's interest in the southwest Atlin Lake area in 2018, and eventually led to the discovery of the Grizzly CRD Target in 2021. The Laverdiere Project continues to showcase its value in terms of the Cu-rich porphyry-skarn mineralization that dominates there. We plan to properly document and sample the impressive porphyry-style Cu-Mo-Au-bearing veins exposed at surface during the 2023 season in preparation for future exploratory drilling.

The focus of the 2023 exploration program will be at the Silver Lime CRD-Porphyry Project. We look forward to releasing a summary of the 2022 work completed there and outlining our plans for the 2023 season in the coming weeks."

A total of 1,806 metres of diamond drilling was completed at the Laverdiere Skarn-Porphyry Project in 2022. First-pass diamond drilling intersected significant near surface, high-grade Fe-Cu-Au-Mo skarn mineralization associated with a potassically altered porphyry intrusion containing widespread porphyry Cu-Mo-Au mineralization and veining (Figure 1; Tables 1-2).

Laverdiere Skarn-Porphyry Project 2022 Diamond Drilling Highlights

• LAV22-001 - 48.54m of 0.90% Cu, 6g/t Ag, and 0.11g/t Ag from 31.46m, including 0.60m of 5% Cu, 33g/t Ag, and 0.36 g/t Au from 42.15m depth.
• LAV22-001 - 1.51m of 4.59g/t Au from 163.49m depth in the Llewellyn Fault Zone (LFZ)
• LAV22-002 - 223m of 0.11% Cu, 2g/t Ag, and 0.006% Mo from 15.00m depth, including 24.42m of 0.32% Cu.
• LAV22-006 - 348.65m of 0.010 % Mo from 3.35m depth, including 183m of 0.018% Mo, 11m of 0.092% Mo, 0.13% Cu, and 5g/t Ag, and 5.5m of 0.11% Mo.
• LAV22-006 - 107.38m of 0.11% Cu, 0.023% Mo, 0.9g/t Ag, and 0.02g/t Au from 144.62m depth, including 41m of 0.27% Cu, 0.037% Mo, and 2g/t Ag, and 0.05g/t Au, and 0.9m of 5.08% Cu, 23g/t Ag, and 1.25g/t Au from 166.64m depth.

The 2023 Exploration Program at the Laverdiere Skarn-Porphyry Project will focus on detailed geological and structural mapping and project-scale geochemical sampling.

Figure 1: 2022 diamond drill hole location map at the Laverdiere Skarn-Porphyry Project showing surficial sampling progress (Cu %) and downhole Mo % drill assay highlights plotted on TauSf geophysics (Conductivity increasing - hot colours; Resistivity increasing- cold colours).

Figure 2: Photographs of exposed target mineralization styles sampled in 2022 at the Laverdiere Skarn-Porphyry Project. (Left) Photographs of Fe-Cu-Mo-Au skarn with prominent CuOx staining (after chalcopyrite and bornite); (Right) Cu-Mo veining and coarse-grained mineralization hosted in the Laverdiere Porphyry.