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Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone

Press Release

TORONTO, ONTARIO – December 1, 2022 – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to report new results from its 2022 exploration program. Red Pine continues to expand the footprint of mineralization outside the current resource of the Surluga Deposit and quantify additional gold bearing structures on the property.

The exploration program of Red Pine continues to validate the presence of a large gold system on the Wawa Gold Project.

Exploration highlights include:

  • Continue to expand mineralization beyond the current resource of the Surluga Deposit
  • Continue to identify and quantify additional gold bearing structures on the property
  • Wawa Gold corridor west of the Jubilee Shear Zone:
    • SD-22-371 – 2.69 g/t Au over 4.01 m including 8.48 g/t Au over 1.15 m
  • Exploration confirms the presence of both high-grade mineralization and multiple gold zones in a newly identified large intrusion-related gold system (IRGS) west of the Jubilee Shear Zone
    • The Abitibi greenstone belt contains several IRGS related deposits. For example, the Young-Davidson and the Côté Gold deposits
  • Continuity of mineralization in the IGRS is supported by gold intersections in 5 drill holes that are covering 175 m in the system
    • SD-22-376 – 5.57 g/t gold over 8.51 m including 8.26 g/t gold over 1.38 m and 19.39 g/t gold over 1.11 m
  • At a larger scale, mineralization associated with the IGRS west of the Jubilee Shear Zone can be traced over 1 km
  • A new and near-surface network of extensional quartz veins was discovered 80 m south of the Sadowski vein system in the hanging wall of the Surluga Deposit – expanding the potential for a bulk underground and/or shallow pit constrained resource.
  • Surluga South extension – 600 m south from resource boundary and at a depth of +600 m:
    • SD-22-379A – 10.18 g/t gold over 4.89 m including 59.70 g/t gold over 0.69 m (CL)
  • Well funded with >C$4 million in cash on hand

Quentin Yarie, President and CEO of Red Pine Exploration commented: “The exploration story continues to unfold with additional discoveries made outside the Surluga and Minto resources that remain open down dip and down-plunge.  Our drill campaigns from 2021 to 2022 continue to deliver significant intersections at the Wawa Gold Project. The results demonstrate the potential to increase the size of the existing resource on the project with continued exploration. Our recent discovery and confirmation of an intrusion related gold bearing system (Figure 1 & 2) west of the Jubilee shear significantly expands the potential of a large tonnage shallow gold deposit.”

Highlights include:

  • Wawa Gold corridor west of the Jubilee Shear Zone (Figure 1 & 2)
  • Selected drilling intersections of significance in the mineralized system west of the Surluga deposit includes:
    • SD-22-376 – From 115.18 m to 255.99 m, three zones of mineralization containing 5.57 g/t gold over 8.51 m, 4.41 g/t gold over 1.27 m and 0.35 g/t gold over 26.43m.
  • Indications that a sizeable mineralized system with intrusion-related gold overprinted by orogenic mineralization is located west of the Jubilee Shear Zone
  • Characterized by stacked zones of gold mineralization of variable width and grade with high-grade gold intersected in two zones

Figure 1 Plan Map of the Wawa Gold Property with Drilling Results

Figure 2 – Left- Gold results west of the Jubilee Shear Zone in the emerging intrusion related gold bearing system. Right – Plan Map of the Surluga North Area showing the estimated intrustion related gold bearing system on surface

  • Extensional Vein systems (Figure 1 and Figure 3)
    • Discovery of a new quartz vein network located 80 m south of the Sadowski Vein network
      • SD-22-379A – 10.18 g/t gold over 4.89 m including 59.70 g/t gold over 0.69 m Core Length (CL)
  • Surluga South target
    • Proving that gold mineralization extends at least 600 m away from the current boundary of the resource of the Surluga Deposit in the Jubilee Shear Zone (Figure 3)
      • SD-22-371 – 2.69 g/t Au over 4.01 m including 8.48 g/t Au over 1.15 m (CL)
  • Figure 3 – Long Section of the Surluga Deposit with reported and previous drill results

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

Hole From (m) To(m) Length (m)* Visible Gold Gold (g/t) Zone
SD-22-364 690.85 692 1.15 3.42 Jubilee Shear Zone – Surluga South
694 695 1 0.86
SD-22-371 181.17 183.9 2.73 VG 1.08 Minto Mine Shear
618.27 622.28 4.01 2.69 Jubilee Shear Zone – Surluga South
Including
618.27 619.42 1.15 8.48
SD-22-376 113.86 122.42 8.51 5.57 Wawa Gold Corridor – Intrusion
Including
115.18 116.56 1.38 8.26
116.56 117.67 1.11 19.39
120.45 121.42 0.97 9.17
149.47 153.08 3.61 0.38 Wawa Gold Corridor
204.38 205.65 1.27 4.41 Wawa Gold Corridor
229.56 255.99 26.43 0.35 Wawa Gold Corridor
SD-22-379A 66.8 71.69 4.89 VG 10.18 New Vein Network south of Sadowski
Including
66.8 67.67 0.87 5.06
71 71.69 0.69 VG 59.7
767.45 768.75 1.30 1.32 Jubilee Shear Zone – Surluga South
771.75 772.75 1.00 2.53
SD-22-380 331.63 334.78 3.15 VG 0.79 Jubilee Shear Zone – Surluga North
341.45 342.39 0.94 0.66
348.2 349.4 1.2 0.41
340.5 343.95 3.45 1.77
343.22 343.95 0.73 VG 6.71

Assay results presented over core length and are estimated to represent > 70 % true width in the Jubilee Shear Zone and the Minto Mine Shear Zone. In the Surluga North Vein Network, assay results are estimated to represent > 35 % true width. In the Sadowski vein network and the new vein network south of Sadowski, the intersections are estimated to represent between 40 and 75 % true width. In the Wawa Gold Corridor, additional drilling is necessary to establish the true width of the mineralization zones.

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.

COVID-19 Precautions

Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure our employees’ and contractors’ safety, thereby reducing the potential for community contact and spreading of the virus.

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, [email protected]

Or

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

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