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Red Pine Continues to Intercept Significant Mineralization at the Wawa Gold Project, including 4.53 g/t over 11.53 metres including 15.00 g/t gold over 1.14 metres

Press Release

Toronto, Ontario (April 03, 2024) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce assay results from 14 drill holes representing 5,390 metres (“m”) of diamond drilling from the 2023-2024 resource expansion program at the Wawa Gold Project. The drilling continues the program commenced in 2021 with a total of (“121”) drill holes for ~54,800 m having now been completed and released from the current targeted program of approximately 65,000 to 70,000 metres of resource expansion drilling leading to an updated resource estimate.

Drilling Highlights:

Contained within the Jubilee Shear System (Table 1)

  • 4.53 grams per tonne (“g/t”) gold over 11.53 m, including 15.00 g/t gold over 1.14 m in SD-24-495
  • 4.96 g/t gold over 7.87 m, including 16.50 g/t gold over 0.97 m in SD-24-490 (partial result)
  • 3.40 g/t gold over 7.27 m, including 9.71 g/t gold over 2.04 m in SD-23-486
  • 2.08 g/t gold over 6.32 m, including 8.16 g/t gold over 1.08 m in SD-23-481
  • 2.19 g/t gold over 17.12 m, including 7.86 g/t gold over 2.10 m in SD-23-480
  • 3.42 g/t gold over 10.11 m, including 9.22 g/t gold over 2.14 m in SD-23-479

Contained within the Hanging Wall of the Jubilee Shear (Table 2)

  • 13.3 g/t over 1.22 m in SD-23-478
  • 2.05 g/t over 6.01 m, including 5.61 g/t gold over 0.99 m in SD-24-490

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

“Our focused drilling campaign continues to yield positive results. The program continues to intersect gold mineralization within and away from the Jubilee Shear, the host of the current underground Surluga mineral resource1. The latest drill results have intersected significant gold mineralization in the hanging wall of the Jubilee Shear and could contribute to reducing the stripping ratio under a proposed open pit scenario. The intersection of significant gold mineralization below the Jubilee Shear will potentially expand the resource to the north-west. Any possible open pit resource would also include gold mineralization at lower grades than the cut-off of the 2019 underground resource1. The drill program also continues to expand the footprints of significant mineralization in the Jubilee Shear, which is expected to have a positive impact on a future resource.”

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

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