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Red Pine Intersects 40.07 g/t Gold Over 1.18 Meters at the North End of Surluga and Presents Additional Results from Darwin-Grace

TORONTO, March 30, 2022 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to report…

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TORONTO, March 30, 2022 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to report on new results from its 2022 Phase 1 exploration program, which have provided confirmation of potential to expand the current resource models of the Wawa Gold Project. Of significance is an intersection of quartz veining with visible gold in hole SD-22-321, located at the north end of Surluga, above the Jubilee Shear Zone. Intersections in holes SD-22-326 and SD-22-337 of the same system also contain visible gold (assays pending). Refer to Figure 1.

Table 1 – Quartz veining above the Jubilee Shear Zone*

Hole

From (m)

To Length (m)*

Visible Gold

Gold (g/t)

Zone

(m)
SD-22-321

219.79 226.21 6.42 Yes 8.46 Surluga North – Quartz vein network
Including    
225.03 226.21 1.18   40.07

Grace-Nyman Gold System: Extension of mineralization in the Grace Shear Zone, Nyman Shear Zone and the discovery of a new mineralized structure

Drilling in the Grace-Nyman gold system, host of the historical Darwin-Grace mine, continues to uncover new mineralized structures (refer to Figure 2). Red Pine’s 2022 Phase 1 exploration program has now traced gold mineralization along the Grace Shear Zone over a total strike length of 650 meters.

East of the Darwin-Grace Mine, hole DG-22-329 discovered a shear zone containing a quartz vein with visible gold. That same structure was intersected in additional drill holes completed on the same drill pad. Hole SD-22-329 also extended the footprints of gold mineralization in the Nyman Shear Zone 210 meters along strike of the intersection of 11.47 g/t gold over 2.73 meters in that structure in DG-22-317 (refer to press release dated March 16th, 2022).

Figure 1 – Surluga North and Jubilee Shear Zone
https://www.globenewswire.com/NewsRoom/AttachmentNg/e7089ec3-cbbb-465d-ab50-3f176299fd8c

“The consistent drilling success of the Wawa Gold Project demonstrates the continuity of the system with both high-grade and bulk underground components. These recent results demonstrate the advancement of our knowledge and data collection of the system, in addition to the pervasive mineralization throughout the Wawa Gold Corridor. With our 2022 Phase 1 drill program well underway, further assays pending and encouraging visible gold indicators in 5 holes as of the time of this press release, we look forward to sustained performance with the drill bit.” – Quentin Yarie, President and CEO of Red Pine Exploration.

Figure 2 – Darwin-Grace Gold Mineralization Expansion
https://www.globenewswire.com/NewsRoom/AttachmentNg/738f9700-ead9-40bd-8a4c-00e824ebae03

Table 2 – Expansion of gold mineralization in the Darwin-Grace hosts*

Hole From (m) To           (m) Length (m)* Visible Gold Gold (g/t) Zone
DG-22-327

95.10 97.23 2.13 Yes 5.35 Grace Shear Zone
Including    
95.10 96.19 1.09 Yes 10.00
DG-22-329

51.68 53.68 2.00 Yes 6.60 Shear Zone
Including    
52.68 53.68 1.00 Yes 13.14
129.00 134.34 5.34   0.89 Nyman Shear Zone

Wawa Gold Corridor Expansion: Discovery of multiple zones of gold mineralization west of the Jubilee Shear Zone

Hole SD-21-310 discovered multiple zones of gold mineralization west of the Jubilee Shear Zone in the Wawa Gold Corridor. This includes the discovery of 9.30 g/t gold over 3.08 meters, 300 meters west of the Jubilee Shear Zone. These intersects of gold mineralization are hosted in a network of shear zones outside of the Jubilee Shear zone and extend the footprint of gold mineralization in the Wawa Gold Project, refer to Figure 1.

Table 3 – Additional Drilling Highlights in the Wawa Gold Corridor* (refer to Figure 4)

Hole From (m) To

(m)

Length (m)* Est. True Width (m) Visible Gold Gold (g/t) Zone
SD-21-309

334.34 334.83 0.49   Yes 4.27 Quartz vein
362.96 365.62 2.66 1.89   4.36 Minto Mine Shear Zone
Including      
363.59 364.27 0.68 0.48   16.40
484.37 484.87 0.50     7.10 Shear zone

SD-21-310

SD-21-310

112.31 125.49 13.18     1.18 Wawa Gold Corridor west of Jubilee Shear Zone – Zone 1
Including      
115.35 119.3 3.95     3.60
158.14 202.33 44.19     0.48 Wawa Gold Corridor west of Jubilee Shear Zone – Zone 2
Including      
158.14 159.74 1.60     2.56
188.17 202.33 14.16     1.04
312.41 315.49 3.08     9.30 Wawa Gold Corridor west of Jubilee Shear Zone – Zone 3
Including      
314.54 315.49 0.95     25.95

* Assay results presented over core length are estimated to represent:

> 75% true width in the Grace Shear Zone, the Nyman Shear Zone, the shear zones in SD-21-309 and DG-22-329, Zones 2 and 3 of the Wawa Gold Corridor;> 65% true width in the Surluga North – Quartz vein network and Zone 1 of the Wawa Gold Corridor.

All drilling data for the Wawa Gold project, including collar, survey, and individual assays, is available on Red Pine’s website at https://www.redpineexp.com/projects-wawa

Figure 3 – Grace-Nyman Gold System
https://www.globenewswire.com/NewsRoom/AttachmentNg/5415274e-0d9a-4958-8772-e66b4fb60423

Figure 4 – Surluga South and Minto Mine Shear Zone
https://www.globenewswire.com/NewsRoom/AttachmentNg/759f38c1-7b71-4f42-acc9-87d230e6a44c

Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples were transported in security sealed bags for analyses at 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 then 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 common 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. The Company’s Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold and Paramount Gold Nevada Corp. 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

Tara Asfour, Investor Relations Manager, (514) 833-1957, [email protected]

1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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