Red Pine Intercepts Significant Mineralization at the Wawa Gold Project, including 5.34 g/t over 13.39 metres including 16.50 g/t gold over 0.97 metre and 13.62 g/t gold over 2.13 metres

Toronto, Ontario (April 24, 2024) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce assay results from 7 drill holes representing 2,538 metres (“m”) of diamond drilling from the 2023-2024 resource expansion program at the Wawa Gold Project. Since the resource expansion drilling program began in 2021, Red Pine has now drilled approximately 66,100 m of the targeted program of up to 70,000 meters. Of these holes, approximately 57,000 m have now been reported.

Drilling Highlights:

Contained within the Jubilee Shear System (Table 1)

• 5.34 grams per tonne (“g/t”) gold over 13.39 m, including 16.50 g/t gold over 0.97 m and 13.62 g/t gold over 2.13 m in SD-24-490 (partial results were released on April 3, 2024 here)
• 2.16 g/t over 31.89 m, including 6.54 g/t gold over 3.39 m in SD-24-493
• 1.70 g/t gold over 39.30 m including 5.13 g/t gold over 2.42 m and 3.39 g/t gold over 4.96 m in SD-24-502
• 3.29 g/t gold over 8.80 m including 9.55 g/t gold over 1.00 m in SD-24-500
• 17.90 g/t gold over 1.00 m in SD-24-492
• 2.44 g/t gold over 18.07 m, including 9.75 g/t gold over 1.18 m and 7.62 g/t gold over 1.19 m in SD-23-487

Jean-Francois Montreuil, Vice President, Exploration of Red Pine commented:

“Within and surrounding the Jubilee Shear, the host of the current underground Surluga mineral resource¹, our drilling campaign continues to yield positive results. We continue to extend the footprint of significant mineralization in the Jubilee Shear and in the  zones below the Jubilee Shear, and to encounter gold mineralization in the hanging wall of the Jubilee Shear. The positive drilling results in the Jubilee Shear are expected to have a positive impact on a future resource by growing and improving the confidence of the structure grading above 2.0 g/t gold. The continued and progressive extension of the footprints of gold mineralization west of the Jubilee Shear outline new exploration targets that represent additional opportunities to increase the gold inventory of the property.”

Table 1– In and below the Jubilee Shear System (Figures 1 and 2)

Hole	From	To	Length	Gold	Zone
(#)	(m)	(m)	(m)*	(g/t)	(name)
SD-23-487	209.37	211.61	2.24	1.53	Jubilee Shear
	224.09	242.16	18.07	2.44
	Including
	224.09	225.34	1.25	5.36
	233.06	234.24	1.18	9.75
	240.97	242.16	1.19	7.62
	291.93	294.00	2.07	1.74	Below the Jubilee Shear
SD-24-489	223.01	232.91	9.90	0.58	Jubilee Shear
SD-24-490	200.03	221.23	21.20	3.56	Jubilee Shear
	Including
	200.03	213.42	13.39	5.34
	Including
	200.03	201.00	0.97	16.50
	211.29	213.42	2.13	13.62
SD-24-492	217.69	222.00	4.31	0.73	Jubilee Shear
	227.27	245.9	18.63	0.54
	340.91	341.91	1.00	17.90	Below the Jubilee Shear
SD-24-493	253.25	285.14	31.89	2.16	Jubilee Shear
	Including
	256.64	260.03	3.39	6.54
	273.42	274.62	1.20	6.72
	281.36	282.44	1.08	6.21
	365.40	366.89	1.49	0.41	Below the Jubilee Shear
SD-24-500	189.50	205.00	16.50	2.03	Jubilee Shear
	Including
	195.00	203.80	8.80	3.29
	Including
	197.44	198.42	0.98	6.02
	201.60	202.60	1.00	9.55
SD-24-502	239.70	279.00	39.30	1.70	Jubilee Shear
	Including
	248.57	253.53	4.96	3.39
	257.25	259.67	2.42	5.13
	277.52	279.00	1.48	7.64

*Intercepts are calculated using a 0.4 g/t gold cut-off and a maximum of 5 m of internal dilution with no capping applied and are reported over core lengths. True width is estimated to vary between 75 to 95% of the reported core length.

Table 2– Hanging wall of the Jubilee Shear (Figures 1 and 2)

 

Hole	From	To	Length	Gold	Zone
(#)	(m)	(m)	(m)*	(g/t)	(name)
SD-23-492	123.21	125.73	2.52	0.44	Shear Zone

*Intercepts are calculated using a 0.40 g/t gold cut-off grade and a maximum of 5 m of internal dilution with no capping applied and are reported over core lengths. True width is estimated to vary between 40 to 90% of the reported core length depending on the mineralization types defining the intersected gold zones.

Discussion of Drill Results

In the Jubilee Shear System, the new results:

• increase the size and the confidence, and improve the continuity of gold mineralization >= 2 g/t gold in the main segment of the Jubilee Shear; and
• confirm the presence and the continuity of gold mineralization in the shear zones that are parallel and located below the main zone of the Jubilee Shear that is hosting the 2021 resource.

The on-going drilling program continues to widen the footprints of the mineralized system centered on the Jubilee Shear System beyond the footprints of the 2021 resource¹. It shows that mineralization of significance and with indications of continuity is present in shear zones below the Jubilee Shear.

In the hanging wall of the Jubilee Shear, the new results:

• Extend the footprints of gold mineralization in a shear zone over the Jubilee Shear

Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and shipped. The residual coarse reject portions of the samples remain in storage if further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Qualified Person

Jean-Francois Montreuil, P.Geo. and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company’s shares trade on the TSX Venture Exchange under the symbol “RPX” and on the OTCQB Markets under the symbol “RDEXF”.

The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 7000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region.

For more information about the Company, visit www.redpineexp.com

Or contact:

Paul Martin, Board Chair and Interim CEO, at (416) 364-7024 or pmartin@redpineexp.com

Or

Carrie Howes, Director Corporate Communications, at (416) 644-7375 or chowes@redpineexp.com

¹ National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1

Figure 2

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