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Red Pine Announces Proposed New Investment by Merk Investments LLC

Press Release

Toronto, Ontario – April 6, 2023 – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company“), further to its news releases of March 31, 2023, is pleased to announce that Merk Investments LLC (“Merk”) has expressed its interest in participating in the Company’s previously announced private placement (the “Upsized Offering”). It is anticipated that Merk will purchase securities under the Upsized Offering such that it will own approximately 9.9% and 14.2% of the pro forma issued and outstanding shares of the Company, on a basic and partially diluted basis, respectively. Prior to the Upsized Offering, Merk did not own any securities of Red Pine.

The Upsized Offering is being completed on a “best efforts” agency basis for up to $6,800,000, with an agents’ option to sell up to an additional $945,000. Please see the news releases of the Company dated March 31, 2023 for further information on the Upsized Offering. There can be no assurances the Upsized Offering will be completed in full, or at all.

About Merk: Merk is an investment management firm that provides advisory services to investment companies and clients. Merk’s investment objective is to achieve superior risk-adjusted returns by seeking to deliver uncorrelated returns using alternative strategies that seek optimal profit potential within tailored investment objectives. Merk provides investment advice on liquid global markets, including domestic and international equities, fixed income, commodities and currencies and their respective derivative markets. Merk has several investment strategies, including (i) gold strategy, (ii) gold equities strategy, (iii) currency strategies, (iv) quantitative FX program, and (v) stagflation strategy.

Quentin Yarie, CEO of Red Pine commented, “We are pleased to welcome Merk as a significant shareholder and supporter. We are excited at the prospect of continuing to expeditiously explore and advance the Wawa Gold Project with the funds we propose to raise under the Upsized Offering and believe that we are well positioned to deliver significant shareholder value”.

Peter Maletis, Vice President – Gold & Precious Metals Research, Portfolio Manager of Merk commented, “We believe that Red Pine is just scratching the surface at its Wawa Gold Project and are excited to be welcomed into the share register with a meaningful equity position. Merk positions itself as a friendly partner to junior exploration companies and is excited to be able to support Red Pine management on its exploration endeavours”.

The Upsized Offering is expected to close on or about April 25, 2023, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The securities offered under the Upsized Offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, [email protected]


Carrie Howes, Director Corporate Communications, (416) 644-7375, [email protected]


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