Mr. Quentin Yarie reports

SHALLOW HIGH-GRADE GOLD DISCOVERY IN THE EXTENSION OF THE SADOWSKI ZONE: 52.12 G/T GOLD OVER 2.29 METRES

Red Pine Exploration Inc. has released 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 updip extension of the Sadowski zone:
  • 52.12 grams per tonne (g/t) gold over 2.29 metres in SD-21-350, including 162.52 g/t gold over 0.30 metre and 145.20 g/t gold over 0.41 metre;
  • 492 g/t silver over 0.90 metre in SD-21-309;
• Additional high-grade intersection in the downplunge 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 and 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 downplunge of the Surluga resource and the Sadowski zone, as well as the extension of the jubilee shear over two kilometres 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 725,000 ounces to three million ounces between four to 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 updip 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 subparallel 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.

In the Surluga North area, hole SD-21-337 intersected significant gold in the Jubilee shear zone, 260 metres downdip of the current resource and 150 metres north-northeast of the intersection of in SD-21-308 (see news release of Jan. 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.

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

Red Pine is continuing to test the underexplored segment of the Jubilee shear zone south of the Parkhill fault and has now completed six 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 sulphide mineralization, varying in width between four and 10 metres, is being consistently observed in the six 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, 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 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

Mr. Yarie, PGeo 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 Ontario. Protocols were put in place to ensure its employees' and contractors' safety, 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 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 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 Mr. 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.

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