Red Pine Exploration

Overview

Red Pine Exploration Inc. (TSXV:RPX) is a gold exploration company focused on identifying, acquiring and developing prospective properties in Ontario, Canada. Red Pine is currently developing its 100-percent-owned flagship Wawa gold project, located near Wawa, Ontario. The project sits within a mining-friendly jurisdiction that hosts properties owned by Argonaut Gold (TSX:AR) and Alamos Gold (TSX:AGI), as well as Newmont (NYSE:NEM; TSX:NGT) and Barrick Gold (NYSE:GOLD; TSX:ABX). The project is also supported by established infrastructure as well as a receptive and skilled community.

Led by an experienced management and technical team, the company's flagship Wawa gold project is located 2 kms southeast of the Municipality of Wawa, in Northern Ontario. The property, covering 7,031 hectares, hosted several former mines with a combined historic production of 120,000 oz gold.

In addition to the two deposits already defined on the property, Red Pine believes the Wawa gold project has the potential to host six additional deposits and has generated a pipeline of several high-priority targets that, combined, could contain up to 3 Moz gold. The majority of the targets rest within the six-kilometer Wawa Gold Corridor, a gold mineralization zone that could be the controlling mineralization structure for the property.

Red Pine’s 2022 exploration program has more than the planned 25,000 meters. Red Pine also intersected high-grade mineralization up to 325 meters away from the current resource boundary in the Surluga North area. The company continues to expand the footprint of mineralization outside the current resource of the Surluga Deposit confirming 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 mineralization associated with the IGRS west of the Jubilee Shear Zone can be traced over one kilometer.

Company Highlights

• 100 percent Wawa Gold project ownership
• The Wawa project hosts eight known gold deposits, two of which have NI 43-101 resources.
• Surluga and Minto Mine South mineral deposits currently have an estimated NI 43-101 resource of 1.30 million tonnes @ 5.47 g/t gold for 230,000 ounces in the indicated category and 2.716 million tonnes @ 5.39 g/t gold for 471,000 ounces in the inferred category.
• Resource principally located between the surface and 300 meters vertical depth
• Discovery of higher-grade mineralization in the Jubilee Shear Zone (host of the Surluga deposit) down plunge of the existing resource
• Preliminary drilling identified five high-grade gold exploration targets that could grow the current resource: Hornblende, Minto B, Grace/Nyman, Minto Mine South and Parkhill # 4 shear zones
• Potential for additional high-grade gold targets in the extension of the Jubilee Shear Zone, south of the Parkhill Fault
• Strategic partner Alamos Gold (TSX:AGI) holds 19.3 percent of outstanding shares of Red Pine, and recently committed capital in its latest $20M financing.
• Strong management team with vast experience developing projects in Canada.
• Management and insiders hold 2 percent of company shares.
• Fully funded drill program of up to 25,000 meters
• Newly identified large intrusion-related gold system (IRGS) west of the Jubilee Shear Zone from the company's 2022 exploration program.

Key Project

Wawa Gold Project

The 100-percent-owned Wawa gold project is a 7,031-hectare property with 122 patents and leases and 298 mining claims. The property is located two kilometers away from the town of Wawa, Ontario, and sits within 40 kilometers of both Argonaut Gold's Magino deposit and the operating Island Gold mine, now owned by Alamos Gold, following their acquisition of Richmont Mines.

Due to its prominent location in a safe and reliable jurisdiction, the Wawa gold property is supported by established mining infrastructure, an available and skilled workforce and a navigable regulatory system. The property is crossed by a powerline and is near both the TransCanada Highway and the railway, making it easily accessible. Red Pine has also developed its local community relationships and signed a memorandum of understanding with the local First Nations groups, Michipicoten, Garden River and Batchewana.

To date, Red Pine has identified two gold systems within the Wawa project, which are the Minto Mine South deposit and the Surluga Deposit.

Red Pine has an ongoing exploration program at the Wawa project, which continues to increase the footprint of mineralization in both Surluga and Minto Mine.

Program Highlights:

• Surluga North: High-grade mineralization occurring up to 325 meters away from the current resource boundary in the Surluga North area with the zone open down-dip and longitudinally north and south; Intersection of 11.06 g/t gold over 4 meters, including 20.80 g/t gold over 2 meters, in the Surluga North discovery
• Surluga South: Assay pending for new and shallow network of mineralized quartz veins discovered in SD-22-379A with visible gold observed in two separate veins
• Jubilee Shear Zone: Observation of visible gold in a quartz vein in the Jubilee Shear Zone in SD-22-379A that is located at the outer edge of the Surluga South discovery, indicating that the mineralization in the Jubilee sheer zone (JSZ) continues to depth
• Jubilee Shear Zone south of the Parkhill Fault: Confirmed JSZ over an additional strike length of 1.8 kms – for a total of more than 6 kms of the gold bearing structure.
  • Discovery of 42.95 g/t gold over 1.92 meters, including 85.72 g/t over 0.96 meter, in the Jubilee Shear Zone south of the Parkhill Fault in JS-22-368 Gold mineralization in JS-22-387 in the Jubilee Shear Zone located 1.2 kms north of JS-22-368.
• Visual gold has been identified in six of the 12 holes (assays pending) completed at the Surluga North, South and in three holes in the Darwin-Grace targets

A review of historical data suggests that the Jubilee Shear Zone's northern extension, where limited drilling has been conducted, could host undiscovered zones of high-grade mineralization less than 300 meters below the surface. Geological data recorded in certain boreholes at the edge of the structure's current footprint suggests potential proximity to stronger mineralized zones.

Management Team

Quentin Yarie, PGeo - President & Chief Executive Officer

Quentin Yarie is an experienced geophysicist and a successful entrepreneur with extensive project management and business development experience. He was previously the business development officer at Geotech Ltd, a geo-physical airborne survey company, and a senior representative of sales and business development for Aeroquest Limited. From 1992 to 2001, Yarie was a partner of a specialized environmental and engineering consulting group where he managed a number of large projects including the ESA of the Sydney Tar Ponds, the closure of the Canadian Forces Bases in Germany, and the Maritime and Northeast Pipeline Project.

Paul Martin - Chairman

Paul Martin is an executive with more than 30 years of experience in precious metals exploration and mining in Canada and abroad. He was CFO at Detour Gold Corp. from 2008 to 2013, and president & CEO at Detour from 2013 until his retirement in 2018.

Jim O'Neill - CFO and Corporate Secretary

Jim O'Neill has over 30 years of experience as a finance executive with multinational businesses operating in Canada, the USA, the UK, Turkey, and Kenya. His extensive public company financial management and governance experience spans junior mining exploration, development, and operations, including appointments as CFO and corporate secretary of Aldridge Minerals Inc. and Virtus Mining Ltd. He currently also serves as CFO and corporate secretary of Western Gold Exploration Ltd., and New Break Resources Inc. and CFO of Waseco Resources Inc. O'Neill holds a bachelor of business administration (Honours) from Wilfrid Laurier University and earned his CPA, CA with Ernst & Whinney (now KPMG).

Jean-François Montreuil, P. Geo. (ON, QC), Ph.D - VP Exploration

Jean-Francois Montreuil holds over a decade of experience in exploring complex hydrothermal systems for battery, precious, base and radioactive metals and has contributed greatly to the advancement of Red Pine's Wawa Gold project and the discovery of the Minto Mine South Deposit. Previously, Montreuil was the chief geologist at MacDonald Mine Exploration and formerly at Honey Badger Exploration. With a master’s degree in Earth sciences from Laval University and Ph.D in Earth sciences at INRS-ETE in Quebec City, his on-going contribution to scientific research in collaboration with the Geological Survey of Canada, the Bureau de Recherches Géologiques et Minières (France geological survey), Geological Survey of South Australia, BHP-Olympic Dam, the University of Windsor and Laurentian University will continue to add value to the Canadian mining industry. Montreuil has also contributed to the industry through numerous publications across international peer-reviewed journals in economic geology.

Carrie Howes - Director Corporate Communication

CarrieHowes has over 20 years of experience in institutional sales, finance, and investor relations. Her public company and capital markets include an emphasis on exposure to investors in the junior mining market. Previously an institutional broker with Union Securities International, London, UK, and later with Moore Clayton & Co. as managing director of investment and European investor relations, arranging market awareness and financing in Canada, UK, Europe, Middle East & Asia. Howes established Rayleigh Capital Ltd to offer a wide range of financial services including North American and European marketing and capital-raising assistance with roadshows reaching a vast institutional and retail audience. Howes was on the board of directors for Takara Resources (TKK; TSX) and director of investor relations Germany for Proactive Investors. She is FSA-licensed, with Union Securities London, MCC Global and Spencer Clarke and formerly worked with the Securities Institute as an SFA Exam Writer and Editor. Howes holds B.A.(HON) in psychology and business from Western University.

Rachel Goldman - Director

Rachel Goldman brings 20 years of experience in institutional sales, mining company financings and corporate transactions during her career at several Canadian brokerage firms where she developed an extensive list of investor and mining company relationships. In February 2020, she was appointed CEO and director of Paramount Gold Nevada Corp (NYSE American: PZG).