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Red Pine Reports its Thickest High Grade Intersection in the Hanging Wall of the Jubilee Shear Zone: 5.13 g/t gold over 37.47m, including 25.20 g/t gold over 3.41m

Press Release

January 6, 2023

Toronto, Ontario – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to report results from its continuing exploration program. Hole SD-22-396 intersected significant mineralization in the Surluga North Vein Network above the Jubilee Shear Zone (hanging wall) of the current resources of the Wawa Gold Project. All reported drill widths are core length unless otherwise stated.

  • High-grade mineralization in the Surluga North Vein Network extended laterally to the north by 115 m
    • Gold mineralization is associated with a network of multidirectional quartz-tourmaline veins
    • The vein network is in the hanging wall of the Jubilee Shear Zone and was intersected at 165 m vertical depth
    • Contains 5.13 g/t gold over 37.47 m, including 25.20 g/t gold over 3.41 m in SD-22-396 (see table 1)
    • Other intersections of significance in the Surlga North Vein Network includes that have previously been released includes:
      • 8.46 g/t gold over 6.42 m in SD-22-321 (see news release of March 30, 2022) located approximately 200 m SW of SD-22-396
      • 11.19 g/t gold over 2.61 m in SD-22-326 (see news release of April 19, 2022) located approximately 200 WSW of SD-22-396
    • Possibility that Surluga North Vein Network is related to a comparable quartz-tourmaline vein network intersected 610 m north in 2016 in SD-16-43.

Quentin Yarie, President and CEO of Red Pine Exploration commented: “These results from the Surluga North Vein Network demonstrate that significant mineralization exists in the hanging wall of the Jubilee Shear Zone and validates the potential for a hybrid pit and underground project (Figure 2). The hanging wall of the Jubilee Shear Zone remains unexplored to the north of the intersection in SD-22-396, leaving the Surluga North Vein Network open for further extension toward the intersection of a comparable network of quartz-tourmaline veins 610 m north in SD-16-43.”

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-22-396 229.37 266.84 37.47 VG 5.13 Surluga North Vein Network
Including
238.6 239.6 1.00 VG 19.78
243.59 245 1.41 VG 30.97
246 247 1.00 VG 40.37
249.5 251 1.50 28.77
253.82 256.29 2.47 VG 7.50

Assay results presented over core length. Considering the multi-directional nature of the veins forming the network hosting gold mineralization, additional drilling will be necessary to constrain the true width of the mineralized envelope of the vein network.

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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