Precious Metals

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Red Pine Intersects High-Grade Gold in the Minto Vein, 109.37 g/t gold over 2.68 metres including 314 g/t gold over 0.84 metre

Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") is pleased to report new and notable results from its 2021 drilling program at the Wawa Gold Project, including the discovery of high-grade gold mineralization in the Minto Vein 30 metres down-dip of the current boundary of the Minto Mine Deposit inferred resource.

Highlights of the 2021 Drilling Program ( Tables 1 and 2, Figure 1 )

  • Intersection in SD-21-298A of 109.37 g/t gold (un-cut) over 2.68 metres true width (TW) in the Minto Vein, including 314 g/t gold over 0.84 metres (TW) and 26.93 g/t gold over 0.95 metre (TW), 30 metres away from the current boundary of the resource.
  • Extension of high-grade gold mineralization in SD-21-298A in the newly identified Sadowski Gold Zone with the intersection of 24.8 g/t gold over 1.15 metres core length (CL).
  • Visible gold has been observed in 3 different veins in the Jubilee Shear Zone in SD-21-298A (results pending).

" The confirmation that high-grade gold mineralization extends down-dip of the current resource of the Minto Mine deposit is a significant development for the Wawa Gold Project. With the overlapping relationship between the Minto Mine and the Jubilee Shear Zones, we have two exploration targets that are testing concurrently with the same drill hole. Additionally, the extension of high-grade gold mineralization in the Sadowski Gold Zone continues to show that the property has significant greenfield exploration potential.

Red Pine has two active drill rigs on-site that are concurrently testing the Surluga deposit to the North and South, and the Minto Mine Deposit. A third drill is on site waiting for a crew with which the Company will test some of the greenfield targets near the historic Darwin Grace mine." Quentin Yarie, President and CEO.

Figure 1- 2021 Drill Holes Completed
https://www.globenewswire.com/NewsRoom/AttachmentNg/0caa57e0-82fe-4774-9a37-caa4b88f153c

Diamond Drilling

As part of its on-going 2021 exploration drilling program, Red Pine is testing the northern and southern depth extensions of the Surluga Deposit and the Minto Mine South Deposit. One drill rig is active at the northern end of the Surluga Deposit and one drill rig is active at the southern end of the Surluga Deposit. The southern drill is also testing the Minto Mine South Deposit.

At the southern end of the Surluga Deposit, in holes SD-21-296A, 297A and 298A, the Jubilee Shear Zone was successfully intersected up to 400 metres away from the current boundary of the Surluga Deposit resource. Results in the Jubilee Shear Zone for holes SD-21-296A and 297A have been released, whereas those for 298A remain pending (bottom half of hole 298A). Visible gold has been observed in 3 different veins in the Jubilee Shear Zone in SD-21-298A.

Drilling at the southern end of the Surluga Deposit also resulted in the discovery of the down-dip extension of the Minto Vein in the Minto Mine Shear Zone in SD-21-297A, and to the discovery of significant mineralization in the Minto Vein in SD-21-298A. Additional drilling is necessary to define the size and extent of this new zone of high-grade gold mineralization in the Minto Vein.

Hole SD-21-298A also continues to expand the potential of the newly discovered Sadowski Gold Zone, a new near-surface high-grade zone of mineralization (Figure 2). The Sadowski Gold Zone is formed by a network of quartz veins variably transposed in superimposed shearing.

At the northern end of the Surluga Deposit, drilling indicated that the Jubilee Shear Zone extends down-dip of the current limit of diamond drilling in the area. In hole SD-21-301 (assay results pending), visible gold has been observed in two quartz veins in two separate domains of the Jubilee Shear Zone.

Table 1 – Significant Drilling Intersections from the 2021 Drilling Program

Hole From
(m)
To
(m)
Length
(m)*
True
Width (m)
Visible
Gold
Gold (g/t) Zone
SD-21-298A
86.35 87.5 1.15 Yes 24.8 Sadowski Gold Zone
320.2 323.35 3.15 2.68 Yes 109.37 Minto Mine Shear Zone
Including
320.2 321.32 1.12 0.95 26.93
322.36 323.35 0.99 0.84 314

*Results in the Sadowski Gold Zone are presented as core length and are estimated to be between 40% and 80% true width. Additional drilling is necessary to constrain the geometry of that zone of mineralization.

Figure 2- Newly Discovered Sadowski Gold Zone
https://www.globenewswire.com/NewsRoom/AttachmentNg/b49f259a-76a4-4ed2-ae49-34c8c6268d88

Table 2 - Coordinates of the Reported Holes

Hole ID Easting Northing Elevation Azimuth Dip Depth (m) Status
SD-21-298A 668546 5315425 361 272 74 729 Completed
SD-21-299 668581 5317216 390.9 304 -49 372 Completed
SD-21-300 668546 5315425 361 311 -77 411 Abandoned in diabase
SD-21-301 668581 5317216 390.9 324 -62 381 Completed

Figure 3- Drill Holes at Extension of Surluga Resource
https://www.globenewswire.com/NewsRoom/AttachmentNg/df346c8d-0188-4f05-8b62-e3c2e9d0697e

On-site 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."

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 6,800 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 the Ontario Energy Board. 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

Tara Asfour, Investor Relations Manager, (514) 833-1957, tasfour@redpineexp.com

1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019

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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Red Pine Exploration (TSXV:RPX)

Red Pine Exploration


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