Mr. Quentin Yarie reports

RED PINE DISCOVERS SIGNIFICANT NEAR-SURFACE MINERALIZATION IN THE FOOTWALL OF THE JUBILEE SHEAR - 1.32 G/T OVER 100.99M INCLUDING 23.29 G/T GOLD OVER 3.52M

Red Pine Exploration Inc. has released new drilling results from its continuing exploration program. The new results confirm the presence of significant gold mineralization west of the Jubilee shear zone associated with the Jubilee and Core Shack vein networks, and the intrusion-related gold system (IRGS).

As part of the spring 2023 drilling program, Red Pine tested the intrusion-related gold system and a series of extensional veins in the Wawa gold corridor west of the Jubilee shear (footwall):

• Drilling results show significant gold mineralization associated with extensional vein networks in the footwall and hangingwall of the Jubilee shear:
  • Red Pine rotated several drill holes by 180 degrees to optimize testing of the extensional vein networks in the hangingwall of the Jubilee shear;
  • Red Pine will continue to use this strategy to quantify the mineral potential of these extensional vein networks.

Multiple extensional veins were intersected in the Core Shack vein network in SD-23-430, including:

• 1.32 grams per tonne over 100.99 metres (core length), including 3.72 g/t gold over 26.59 metres that includes 23.29 g/t gold over 3.52 metres g/t Au and 20.73 g/t gold over 1.08 metres;
  • Drilling successfully extended IRGS mineralization and provided important information for future vectoring using short-wave infrared spectroscopy in that mineralized system;
• SD-23-428 intersected a near-surface extension of the IRGS with 0.45 g/t gold over 52.96 metres, including 2.19 g/t gold over 4.67 metres;
  • These results open a large area of the Jubilee stock for future exploration of the IRGS farther to the west, north and south parallel to the Jubilee shear;
  • Results are pending for five drill holes testing the IRGS and the Core Shack and Jubilee vein networks;
• Visible gold was observed in veins of the Core Shack vein network in SD-23-432 and SD-23-433 (results pending).

Quentin Yarie, president and chief executive officer of Red Pine Exploration, comments:

"The new results confirm the presence of gold mineralization in the footwall of the Jubilee shear. The mineralization is hosted in either extension veins and/or the IRGS. These positive drill results advance the potential for a shallow high-grade open pit."

Quality assurance/quality control 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 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.

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 past five years. Its land package hosts numerous historic gold mines and is over 7,030 hectares in size. 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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