Mr. Quentin Yarie reports

RED PINE EXTENDS GOLD MINERALIZATION WITHIN AND BELOW THE JUBILEE SHEAR - DRILLS 5.07 G/T GOLD OVER 27.35 METRES

Red Pine Exploration Inc. has released new drilling results from its continuing exploration program. The new results indicate that high-grade vein networks, comparable with the Surluga North vein network intersected in SD-22-396 (5.13 grams per tonne gold over 37.47 metres), are present in the footwall of the Surluga -- an area that was historically untested and wide open for resource expansion.

Highlights:

• 5.07 g/t gold over 27.35 metres in SD-22-414, including:
  • Infilling a large zone classified as barren in the 2019 Surluga deposit:
    • 5.46 g/t gold over 10.51 metres, including 11.48 g/t gold over 3.27 metres;
  • Extension/continuation of a series of high-grade quartz veins below the Jubilee shear footwall:
    • 70.9 g/t gold over 1.14 metres;
• Drill holes from 2022 in the footwall of the Jubilee shear indicated the occurrence of high-grade quartz veins with the potential to increase the existing resource; these are part of the newly identified intrusive-related gold system (IRGS):
  • 2.06 g/t gold over 11.45 metres, including 13.00 g/t gold over 1.00 metre in SD-22-417, 130 metres north of the intersection in SD-22-414 (see press release of Feb. 16, 2023);
• Visible gold observed in a quartz vein of the same vein network in SD-22-418, 165 metres north of SD-22-414 and 75 metres from SD-22-417 (assays pending);
• In addition, there have been multiple mineralized intersections in the hangingwall of the Jubilee shear (Minto B is in the hangingwall of the Jubilee shear) such as:
  • 1.16 g/t gold over 7.12 metres, including 5.72 g/t gold over 0.82 metre in SD-22-407.

Quentin Yarie, president and chief executive officer of Red Pine Exploration, commented: "With the intersection of high-grade gold outside the existing resource of the Surluga deposit within the footwall and hangingwall of the Jubilee shear (host of the Surluga deposit), we continue to demonstrate potential upside to the Wawa gold project. The historic drilling programs focused on the Surluga deposit constrained by the Jubilee shear and did not routinely extend much beyond those boundaries. Other existing gaps in our high-grade resource will be infilled as part of this year's planned resource expansion. We will continue to test the mineralized systems in both the hangingwall and footwall of the Jubilee shear. All these results continue to add to the potential for a shallow, high-grade, open-pit model."

Quality assurance/quality control (QA/QC) measures

Drill core samples were transported in security-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 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 grade 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 and 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 the company's 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 company's 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. Led by Mr. Yarie, 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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