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Red Pine Intersects Significant Mineralization In the Hanging wall of the Jubilee Shear – 7.85 g/t gold over 13.44 metres including 59.10 g/t gold over 1.03 metres

Press Release

Toronto, Ontario (January 11, 2024) – Red Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) continues to report new assay results from its ongoing exploration program. These recent results demonstrate the potential for gold in in both the hanging wall of the Surluga Resource and within existing “gaps” of no drilling in the 2019 resource.

  • Intersection of significant mineralization in the Minto B Shear in the hanging wall of the Jubilee Shear:
    • 7.85 g/t gold over 13.44 metres including 13.29 g/t gold over 1.96 metres and 59.10 g/t gold over 1.01 metres in SD-23-470
    • This represents the best drill intersection so far in the Minto B Shear
    • The intersection is located 56 metres up-dip of the intersection of 3.64 g/t gold over 24.14 metres including 73.00 g/t gold over 1.00 metres in SD-22-415 (see press release of March 28, 2023 HERE)
  • Intersection of significant mineralization in “gaps” in the 2019 resource footprint:
    • 3.35 g/t gold over 6.95 metres including 20.10 g/t gold over 1.01 metres in SD-23-472
  • Confirmation of historical drilling results:
    • 6.63 g/t gold over 11.60 metres including 26.01 g/t gold over 2.10 metres in SD-23-466

Quentin Yarie, President and CEO of Red Pine Exploration commented: “ In summary, the combination of gold mineralization in hanging wall structures, peripheral materials, extensional vein networks, and existing deposits suggests a favorable environment for gold exploration and resource expansion. Further exploration and evaluation of these areas could lead to a substantial increase in the gold inventory and enhance the overall value of the property. However, it is essential to conduct detailed geological, geochemical, and geophysical studies to guide future exploration efforts”.

  1. Gold Mineralization in Hanging Wall Structures: The presence of gold in hanging wall structures like the Minto B Shear indicates a potential for significant gold deposits. Such mineralization can provide valuable insights into the geology and tectonic history of the area. The lateral and vertical continuity of gold mineralization suggests that the gold deposits are not only extensive in the horizontal direction but also in depth.
  2. Peripheral Material Mineralization: The fact that peripheral materials are also mineralized indicates that the gold-bearing fluids or processes responsible for gold deposition were widespread. This implies a large-scale mineralizing event or a series of events that affected a broad area.
  3. Extensional Vein Networks: The identification of extensional vein networks is a positive sign for increased resource potential. Vein networks can serve as conduits for mineralizing fluids, and the presence of such networks can enhance the overall gold potential of the area.
  4. Revised Resources: The discovery of new zones of mineralization and extensional vein networks suggests that a revision of the resource estimates are warranted. A revised resource estimate, incorporating these new findings, could potentially show a substantial increase in the gold inventory.
  5. Surluga and Minto Mine South Deposits: The association of the new zones of mineralization with existing deposits like the Surluga and Minto Mine South deposits further enhances the overall gold potential of the area. The presence of multiple mineralized zones in proximity to existing deposits could lead to synergies in exploration and development activities.

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

Hole From (m) To Length (m)* Visible Gold Gold (g/t) Zone
(m)
SD-23-462 407.5 408.51 1.01 4.14 Lower Jubilee Shear
SD-23-464 151.31 204.50 53.19 0.58 Minto B Shear
Including
203.00 204.50 1.50 14.20
296.00 298.00 2.00 1.17
SD-23-465 241.62 243.86 2.21 1.76 Shear Zone – Hanging wall
SD-23-466 300.17 302.31 2.14 3.52 Shear Zone – Hanging wall
338.30 350.45 11.60 6.63 Jubilee Shear
Including
338.30 339.31 1.01 13.08
346.25 348.35 2.10 26.01
SD-23-467 128.71 139.96 11.25 0.79 Minto C Shear System
Including
129.96 131.21 1.25 3.39
216.05 217.52 1.47 1.10 Shear Zone – Hanging wall
SD-23-469 187.66 195.47 7.81 0.43 Minto B Shear
SD-23-470 120.84 134.28 13.44 VG 7.85 Minto B Shear
120.84 122.80 1.96 13.29
124.81 125.84 1.03 VG 59.10
168.71 171.23 2.52 0.89 Shear Zone – Hanging wall
198.93 200.24 1.31 1.44 Shear Zone – Hanging wall
228.91 230.22 1.31 VG 4.63 Vein Network – Hanging wall
250.09 257.47 7.38 0.71 Jubilee Shear
262.63 265.01 2.38 VG 0.80
276.84 279 2.16 1.20
SD-23-472 296.6 303.55 6.95 3.35 Jubilee Shear
Including
301.53 302.54 1.01 20.10
SD-23-473 272.68 281.06 9.64 0.61 Minto B Shear
286.39 287.48 1.09 0.67
300.94 303.44 2.50 0.44

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

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