Red Pine Announces Continued Success in Wawa

Press Release

Intersects Wide Intervals of High-Grade Gold Mineralization 8.01 g/t Au over 32.95 m including 171.0 g/t gold over 1.19 m

Toronto, Ontario (October 24, 2023) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) reports continuing assay results from its ongoing exploration program. These results validate the existence of a new zone of high-grade mineralization in the Jubilee Shear in the hanging wall of the Surluga Deposit. Expansion of the Surluga resource1 (Figures 1 and 2)

Highlights

Continued confirmation of significant mineralization at the Minto B/Jubilee Shear intersection that is currently absent from the 2019 resource.

• 8.01 g/t gold over 32.95 meters at the intersection of the Minto B/Jubilee Shears
  • includes 171.0 g/t over 1.19 meter and 26.0 g/t gold over 0.82 m approximately 70 m up-plunge of the intersection of 10.92 g/t gold over 28.05 m in SD-23-442- see Press Release dated September 14, 2023 (Figure 1 & 2).
• New high-grade vein discovered below the Jubilee Shear in SD-23-456 containing 46.9 g/t gold over 1.04 m
• Extension of mineralization in the Minto B Shear above the Jubilee Shear
  • 6.03 g/t gold over 1.24 meter within a larger mineralization halo containing 0.96 g/t gold over 10.29 meters in SD-23-456
  • 7.17 g/t gold over 1.02 meter in the Minto C Shear System in SD-23-454

Quentin Yarie, President and CEO of Red Pine Exploration commented: “Both the thickness and grade of gold continue to demonstrate the extensive mineralization surrounding the Jubilee Shear. Drilling in the hanging wall of the Jubilee Shear continues to yield high-grade results which we expect will positively impact our future revised resource.“

Table 1– Highlights from drilling in the Wawa Gold Corridor (Figure 1)

Assay results presented over core length. True width for the intersections varies between 50 to 95% depending on the intersected geological structure.

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

Quentin Yarie, P.Geo. and Chief Executive Officer of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed, and approved the news release’s technical information.

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 6,900 hectares in size. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its 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:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Carrie Howes, Director Corporate Communications, (416) 644-7375, 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.

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