Mr. Quentin Yarie reports

RED PINE DRILLING UPDATE: HIGH-GRADE INTERSECT IN THE SOUTHERN EXTENSION OF THE SURLUGA DEPOSIT OF 8 G/T AU OVER 11.38 M AND MULTIPLE HIGH-GRADE INTERSECTS IN THE NORTH

Red Pine Exploration Inc. has released new and significant results from its 2022 phase 1 exploration program.

Highlights:

• Surluga South -- SD-21-312A confirms additional gold mineralization at depth with eight grams per tonne gold over 11.38 metres between 640.69 m and 652.07 m, including three high-grade intersections of 57.99 g/t Au, 15.92 g/t Au and 9.33 g/t Au (refer to an attached table).
• Surluga North -- SD-22-321 expands gold mineralization beneath the current resource at the northern extension of the Surluga deposit with 8.46 g/t Au over 6.42 m between 219.79 m and 226.21 m. SD-22-326 intersected 11.19 g/t Au over 2.61 m (refer to an attached table).

The exploration results continue to support the expansion of the current resources of the Wawa gold project along strike, dip and plunge. Zones can achieve a notable grade and thickness of high-grade gold mineralization existing outside of the defined resources of the Surluga deposit. The current 2022 phase 1 program has been advancing at an efficient pace, with 14,864 m of drilling achieved year to date.

"The results from our 2022 drilling program continues to demonstrate the untapped potential of the Wawa gold project, having intersected notable mineralized regions in various exploration targets. As we carry on with the phase 1 drill program at an efficient pace, the Jubilee shear zone, which hosts the Surluga resource, continues to produce impressive results, which validates the continuation of the exploration drill program," commented Quentin Yarie, president and chief executive officer of Red Pine Exploration.

Surluga South -- extension of high-grade mineralization

Of significance is an intersection of strong quartz veining in the Surluga South extension down dip of the existing resource in SD-21-312A, encompassing three high-grade gold intersects: 9.33 g/t Au over 0.79 m, 57.99 g/t Au over 0.92 m and 15.92 g/t Au over 0.86 m (all lengths presented in true width (TW)).

Surluga North -- confirmation of down-dip gold mineralization

At Surluga North, quartz veining with visible gold continues to expand high-grade gold mineralization down dip and along strike of the Surluga resource, with 40.07 g/t Au over 1.18 m within 8.46 g/t Au over 6.42 m located above the Jubilee shear zone in hole SD-22-326. Intersections in holes SD-22-337 and SD-22-352 of the same system as the one intersected in SD-22-326 and SD-22-321 also contain visible gold (assays pending).

Discussion

South -- down-plunge continuity and expansion potential

In the Surluga South discovery, hole SD-21-312A, located 53 m south of the intersection of 3.08 g/t Au over 55.66 m (true width) in SD-21-302 (see news release dated Nov. 8, 2021), extends to the south the high-grade core of the Surluga South discovery. Hole SD-21-312A is a zone of strong quartz veining in the Jubilee shear zone that contains eight g/t Au over 10.35 m (TW), including 57.99 g/t Au over 0.92 m (TW). The company is continuing to explore these thick, high-grade intersections, with plans for future infill exploration to tie these to the existing resource.

North -- quartz vein network

Following the intersection of 8.46 g/t Au over 6.42 m in the Surluga North quartz vein network (news release dated March 30, 2022), extending the positive exploration results in this vein system. In a 50 m northwest stepout, hole SD-22-326 intersected the vein system in SD-22-321 with 11.19 g/t Au over 2.61 m, including 69.3 g/t Au over 0.41 m.

Mineralization in the Surluga North quartz vein network consists of networks of quartz-tourmaline veins emplaced in a specific intrusive phase of the Jubilee stock. The vein system has been observed with variable intensity in all 2022 drill holes completed in the Surluga North area, and visible gold was observed in quartz veins of the network in holes SD-22-337 and SD-22-352.

Update on exploration drilling -- Jubilee shear zone south of the Parkhill fault

Red Pine is also currently testing the underexplored extension of the Jubilee shear zone south of the Parkhill fault near the Darwin-Grace historical mine. In the two completed holes (JS-22-356 and JS-22-358), Red Pine intersected the Jubilee shear zone, demonstrating the potential for a significant strike extension (greater than two kilometres). In both holes, the upper part of the Jubilee shear zone contains positive visual indicators of mineralization that include strong quartz veining associated with sulphide mineralization (assays pending).

Quality assurance/quality control measures

Drill core samples were transported in sealed bags for analyses at Actlabs in Ancaster, Ont. 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 assurance/quality control program to comply with best practices in the sampling and analysis of drill core. As part of its quality assurance/quality control 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, PGeo, chief executive officer of Red Pine, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

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 the safety of employees and contractors, thereby reducing the potential for community contact and spreading of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration is a gold exploration company headquartered in Toronto, Ont., Canada.

The Wawa gold project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the past five years. Its land package hosts numerous historical gold mines and is over 6,900 hectares in size. The company's chairman of the board is Paul Martin, the former chief executive officer 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, chief executive officer, 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.

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