Mr. Quentin Yarie reports

RED PINE EXPLORATION GRANTS STOCK OPTIONS

Red Pine Exploration Inc.'s board of directors has granted an aggregate 1,723,400 stock options to directors, officers, employees and consultants of the corporation pursuant to the stock option plan. Each stock option is exercisable into one common share of the company at a price of 20 cents per common share. The stock options vest at a rate of 25 per cent upon grant as well as 25 per cent on the next three grant-date anniversaries, up to May 15, 2026, and expire on the fifth anniversary of the date of grant.

These options were granted under the company's fixed number stock option plan, effective Dec. 14, 2021. A fixed number plan that reserves not more than 10 per cent of the outstanding shares does not require shareholder approval under applicable TSX Venture Exchange policies. As of May 15, 2023, there were 7,574,615 stock options outstanding, leaving an aggregate of 475,534 to be granted under the plan.

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. 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.

We seek Safe Harbor.