Mr. Quentin Yarie reports

RED PINE CONTINUES TO INTERSECT GOLD MINERALIZATION IN THE HANGING WALL OF THE SURLUGA DEPOSIT: 1.65 G/T GOLD OVER 29.17M INCLUDING 6.64 G/T GOLD OVER 5.87M

Red Pine Exploration Inc. has released new drill results from its continuing exploration program. The results demonstrate the pervasiveness of gold mineralization over broad areas surrounding the Surluga resource, including significant intersections in the hangingwall of the Jubilee shear zone.

Significant intersections in Minto B/Jubilee Triangle confirm the presence and continuity of gold mineralization in the area where two structures (Minto B and Jubilee shear) are converging:

• 0.83 gram per tonne gold over 72.06 metres in SD-22-404:
  • Includes 1.65 g/t gold over 29.17 m, including 6.64 g/t gold over 5.87 m, in the Minto B shear zone.
• 0.66 g/t gold over 128.85 m in SD-22-417:
  • Includes 3.28 g/t gold over 8.44 m in the Jubilee shear zone.

Several shallow, mineralized intersections in the Minto C shear system located east of the Minto B shear zone:

• Includes 1.75 g/t gold over 8.26 m, including 10.9 g/t over 1.05 m, in SD-22-404;
• Extension of the Surluga North vein network 105 m east of the intersection in SD-22-396 in SD-22-405:
  • Includes 2.56 g/t gold over one m in SD-22-405 and 4.3 g/t gold over 1.48 m in SD-22-403.
• Gold mineralization proven to extend 450 m down dip of the resource boundary in the Surluga North area at the northern limit of the current Surluga resource;
• Multiple mineralized intersections in the Jubilee shear system south of the Parkhill fault:
  • Includes the intersection of 5.81 g/t gold over 1.49 m in JS-22-398;
  • Support the persistence of gold mineralization in that underexplored segment of the Jubilee shear system.
• Identification of new mineralized structures in the Nyman-Grace mineralized system:
  • New results indicating the persistence of the Grace shear zone beyond the area where it was mined in the early 20th century;
  • New mineralized structures discovered in DG-22-338, north of the Grace shear zone.

Quentin Yarie, president and chief executive officer of Red Pine Exploration, commented: "As we begin our 2023 program focused on resource growth, we continue to evaluate the potential of a hybrid open-pit/underground constrained resource (press release dated Dec. 6, 2022). In the attached cross-section, the continuity of gold mineralization within the Jubilee shear is apparent at lower cut-offs that may be conducive to a shallow open pit with a potential of adding tonnage and ounces to the existing Surluga deposit. Our focus for 2023/24 remains to be an increase in the resource(s) on the Wawa gold project."

Changes to management

Effective immediately, Jim O'Neill, chief financial officer, has left the company. Red Pine Exploration wishes Mr. O'Neill all the best in his future endeavours. The company has begun the search for a replacement.

Quality assurance/quality control measures

Drill core samples were transported in sealed bags for analyses to 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 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 under 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 Ontario. Protocols were put in place to ensure 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 past five years. Its land package hosts numerous historical gold mines and is over 6,900 hectares in size. 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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