Precious Metals

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. The exploration results continue to support the expansion of current resources and the potential for additional centres of mineralization within the Wawa Gold Project.

HIGHLIGHTS

  • High-grade assay results received from the 2022 drilling in the up-dip extension of the Sadowski zone:
    • 52.12 g/t gold over 2.29 metres in SD-21-350 including 162.52 g/t gold over 0.30 metres and 145.20 g/t gold over 0.41 metres.
    • 492 g/t silver over 0.90 metres in SD-21-309
  • Additional high-grade intersection in the down plunge extension of the Surluga deposit in the North, with the primary mineralization zone remaining open at depth and along strike.
    • 8.44 g/t gold over 5.71 metres
  • Confirmation of Company's exploration strategy and targeting approach: surface mapping and orientated core measurements to refine targets, drilling to confirm gold mineralization.
  • Strong endorsement of Phase 1 Exploration Plan and potential expansion later in 2022.
  • Assay results from the current drill program are coming back on a more regular basis.

Quentin Yarie, President, and Chief Executive Officer of Red Pine stated "The discovery of higher-grade gold intersections down plunge of the Surluga resource and the Sadowski Zone as well as the extension of the Jubilee shear > 2kms south of the Parkhill fault are causing a re-evaluation of the identified exploration targets noted a press release on March 2, 2018. At that time, we identified contained ounces in the combined exploration targets ranging from 0.725 M oz to 3 M oz between 4-10 g/t. With our current intersections and higher-grade discoveries in 2021 to now, it appears we were conservative on our grade range."

  • The reader is cautioned that the potential tonnages and grades of the exploration targets are conceptual in nature, that there has been insufficient exploration to increase the current mineral resources, and that it is uncertain if further exploration will result in any of the exploration targets being delineated as a mineral resource. The exploration targets are part of a coherent system – supporting the possibility that the Wawa Gold project contains a larger, higher-grade gold system;

Discussion

Surluga south area – Discovery of high-grade gold in the Sadowski Vein Network and high-grade silver in the Jubilee Shear Zone

In the Surluga South area, hole SD-22-350 intersected a near-surface and high-grade quartz vein that is part of the Sadowski Vein Network. The intersection in SD-22-350 is located 81 metres up-dip from the intersection of 29.29 g/t gold over 2.02 metres in SD-21-297A in the Sadowski Vein Network. The Sadowski Vein Network has now been traced over a strike length of 100 metres and to a vertical depth of 85 metres. It remains open to the North and at depth.

In SD-21-309 in a late fault sub-parallel to the Jubilee Shear Zone foliation, Red Pine identified high-grade silver mineralization. The continuity and size of that zone of silver mineralization remains to be determined.

Table 1 – Intersections in the Surluga south area

Hole From
(m)
To
(m)
Length
* (m)
Est.
True
width
Visible
Gold
Gold
(g/t)
Ag
(g/t)
Zone
SD-21-
309
679.59 680.49 0.90 0.86 0.02 492 Silver-rich fault in Jubilee
Shear Zone
SD-22-
350








16.51 18.8 2.29 VG 52.12 Sadowski Vein Network
Including
16.51 16.88 0.37 VG 22.50
17.66 18.07 0.41 VG 145.20
18.07 18.37 0.30 VG 162.52

*The intersection in the Sadowski vein network is estimated between 40 and 75 % true width

Figure 1- Surluga South Drilling
https://www.globenewswire.com/NewsRoom/AttachmentNg/b35ba866-0f18-4171-bfc2-80bba8a2845d

Surluga North – Extension of gold mineralization

Table 2 – Intersection in the Jubilee Shear Zone (JSZ) in the Surluga North area
In the Surluga North hole SD-21-337 intersected significant gold in the Jubilee Shear Zone, 260 metres down-dip of the current resource and 150 metres NNE of the intersection of in SD-21-308 (see news release of January 21, 2022). The intersection in SD-22-337 continues to indicate the potential to expand the resource of the Surluga deposit and the existence of a third high-grade zone in the JSZ parallel to the two high-grade zones that are currently forming the resource of the Surluga deposit.

Hole From
(m)
To
(m)
Length
(m)
Est.
True
width
Visible
Gold
Gold
(g/t)
Zone
SD-22-
326
330.97 331.94 1.15 0.84 3.94 Jubilee Shear Zone
SD-22-
337










334.79 340.5 5.71 4.28 VG 8.44 Jubilee Shear Zone
Including
334.79 335.6 0.81 0.61 VG 16.70
337.75 338.58 0.83 0.62 24.90
339.53 340.5 0.97 0.73 VG 13.80
355.81 359.65 3.84 2.88 1.04

The following diagram denotes the location of the drill holes reported in this release (brown shade) and selective prior released 2022 Phase 1 drilling program holes (green shade)

Figure 2 - Surluga North Drilling
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b9b7ff9-7ca5-47af-95fc-6aa97b16946c

Update on Exploration drilling – Jubilee Shear Zone south of the Parkhill Fault
Red Pine is continuing to test the under-explored segment of the Jubilee Shear Zone south of the Parkhill fault and has now completed 6 holes (assays pending) covering 275 metres of strike length along the southern segment of the Jubilee. In all the completed drill holes, the Jubilee Shear Zone thickens considerably, reaching an apparent thickness of up to 400 metres.

A zone of strong quartz veining associated with sulfide mineralization, varying in width between 4 and 10 metres, is being consistently observed in the 6 holes completed in the upper part of the Jubilee Shear Zone.

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, qyarie@redpineexp.com

Or

Carrie Howes, Director of 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.

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

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