Mr. Quentin Yarie reports

RED PINE INTERSECTS SIGNIFICANT MINERALIZATION IN THE HANGING WALL OF THE JUBILEE SHEAR - 7.85 G/T GOLD OVER 13.44 METRES INCLUDING 59.10 G/T GOLD OVER 1.03 METRES

Red Pine Exploration Inc. has released new assay results from its continuing exploration program. These recent results demonstrate the potential for gold in both the hangingwall of the Surluga resource and within existing gaps of no drilling in the 2019 resource.

• Intersection of significant mineralization in the Minto B shear in the hangingwall of the Jubilee shear:
  • 7.85 grams per tonne gold over 13.44 metres, including 13.29 g/t gold over 1.96 metres and 59.10 g/t gold over 1.01 metres in SD-23-470;
  • This represents the best drill intersection so far in the Minto B shear;
  • The intersection is located 56 metres up dip of the intersection of 3.64 g/t gold over 24.14 metres, including 73 g/t gold over one metre in SD-22-415 (see press release of March 28, 2023).
• Intersection of significant mineralization in gaps in the 2019 resource footprint:
  • 3.35 g/t gold over 6.95 metres, including 20.10 g/t gold over 1.01 metres in SD-23-472.
• Confirmation of historical drilling results:
  • 6.63 g/t gold over 11.60 metres, including 26.01 g/t gold over 2.10 metres in SD-23-466.

Quentin Yarie, president and chief executive officer of Red Pine Exploration, commented: "In summary, the combination of gold mineralization in hangingwall structures, peripheral materials, extensional vein networks and existing deposits suggests a favourable environment for gold exploration and resource expansion. Further exploration and evaluation of these areas could lead to a substantial increase in the gold inventory and enhance the overall value of the property. However, it is essential to conduct detailed geological, geochemical and geophysical studies to guide future exploration efforts."

1. Gold mineralization in hangingwall structures: The presence of gold in hangingwall structures like the Minto B shear indicates a potential for significant gold deposits. Such mineralization can provide valuable insights into the geology and tectonic history of the area. The lateral and vertical continuity of gold mineralization suggests that the gold deposits are not only extensive in the horizontal direction but also in depth.
2. Peripheral material mineralization: The fact that peripheral materials are also mineralized indicates that the gold-bearing fluids or processes responsible for gold deposition were widespread. This implies a large-scale mineralizing event or a series of events that affected a broad area.
3. Extensional vein networks: The identification of extensional vein networks is a positive sign for increased resource potential. Vein networks can serve as conduits for mineralizing fluids, and the presence of such networks can enhance the overall gold potential of the area.
4. Revised resources: The discovery of new zones of mineralization and extensional vein networks suggests that a revision of the resource estimates are warranted. A revised resource estimate, incorporating these new findings, could potentially show a substantial increase in the gold inventory.
5. Surluga and Minto mine South deposits: The association of the new zones of mineralization with existing deposits like the Surluga and Minto mine South deposits further enhances the overall gold potential of the area. The presence of multiple mineralized zones in proximity to existing deposits could lead to synergies in exploration and development activities.

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 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, 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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