Red Pine Intersects High Grade Gold Mineralization in the Extensions of the Surluga Deposit; Intersects 42.95 g/t gold over 1.92 metres in the Jubilee Shear Zone south of the Parkhill Fault

Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to report new results from its 2022 exploration program. Red Pine drilling continues to expand the footprint of mineralization outside the current resource of the Surluga Deposit and quantify additional exploration targets on the property.

Highlights

• Surluga North
  • High-grade mineralization occurs up to 325 metres (m) 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 4.00 meters, including 20.80 g/t gold over 2.00 meters, in the Surluga North discovery
• Surluga South
  • New and shallow network of mineralized quartz veins discovered in SD-22-379A with visible gold observed in two separate veins (assay pending)
  • 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 (assays pending)
• Jubilee Shear Zone south of the Parkhill Fault
  • 2022 drilling confirmed the JSZ over an additional strike length of 1.8 km – for a total of more >6 km of the gold bearing structure.
  • Discovery of 42.95 g/t Au over 1.92 metre, including 85.72 g/t over 0.96 metre, 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 km north of JS-22-368.

Quentin Yarie, President and CEO of Red Pine Exploration, commented: " As we have always theorized, and part of our decision to acquire 100% of the Wawa Gold Project, was that gold mineralization is pervasive throughout the structures within the intrusive complex. The recent drill results represent an important step forward in our progress of expanding the current resource of the Surluga Deposit. These results of high-grade gold mineralization extending far beyond the current footprints of the existing resources add credence to our theory. Results to date support our view that there is a large, continuous corridor of mineralization hosting multiple centres of mineralization/deposits that extend over at least 6 km in strike length and we are showing that they have continuity."

Expanding   the Surluga Deposit

In the Jubilee Shear Zone North discovery area, drilling from phase 1 continues to expand the footprints of the significant mineralization discovered in the area. Gold mineralization of significance can be traced 270 meters down-dip of the boundary of the current resource. With an intersection of 11.06 g/t gold over 4.00 meters in hole SD-22-361, the Surluga North discovery remains open at depth. Visible gold was observed in holes SD-22-345, SD-22-380 (assays pending), and SD-22-385 whereas strong quartz veining and sulfide mineralization were observed in holes SD-22-357 and SD-22-363. Phase 1 drilling in the Surluga North area continues to expand the footprint of the Surluga North Vein Network that is overlying the Jubilee Shear Zone.

Hole SD-22-350 intersected the outer edge of the Surluga South discovery, explaining weaker gold mineralization in the Jubilee Shear Zone.

Table 1– Highlights from drilling in the Surluga North and South area (Figure 1)

Assay results presented over core length and are estimated to represent 70 % to 98 % true width in the Jubilee Shear Zone. In the Surluga North Vein Network, assay results are estimated to represent > 35 % true width. In the Sadowski vein network, the intersections are estimated to represent between 40 and 75 % true width.

Figure 1 - Long Section of the Surluga North and South

Jubilee Shear Zone south of the Parkhill Fault

Red Pine's drilling confirmed the presence of high-grade gold mineralization in the Jubilee Shear Zone south of the Parkhill fault. Gold mineralization has also been intersected in hole JS-22-387 that is located 1.2 km north of the high-grade intersection in JS-22-368 (JS-22-368 and JS-22-387). Phase 1 of our 2022 drilling program has now demonstrated the continuity of the Jubilee Shear Zone south of the Parkhill Fault over 1.8 km and the structure is mineralized, with the shear zone remaining open to the south (Table 2).

Table 2– Jubilee Shear Zone south of the Parkhill Fault (Figure 2)

* Assay results presented over core length are estimated to represent over 75 % true width

Figure 2 - Plan Map of the Wawa Gold Project

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 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, qyarie@redpineexp.com

Or

Carrie Howes, Director Corporate Communications, (416) 644-7375, chowes@redpineexp.com

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

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