Mr. Paul Martin reports

RED PINE EXPLORATION ANNOUNCES THE RESULTS OF ITS ANNUAL GENERAL MEETING, PROVIDES UPDATE & GRANTS ANNUAL STOCK OPTION AWARDS

Red Pine Exploration Inc. has released the results of its annual general meeting of shareholders held virtually on March 12, 2024.

At the meeting, the shareholders:

• Elected Drew Anwyll, Gary O'Connor, Rachel Goldman, Paul Martin and Quentin Yarie as directors of the company;
• Reappointed MNP LLP, chartered professional accountants, as the company's auditor until the next annual meeting of shareholders and authorized the directors to set its remuneration.

Mr. Martin, interim chief executive officer, commented, "We are extremely fortunate to have added Gary O'Connor to the board given his extensive experience in the evaluation and development of resources, including most recently at the Tower gold project located in the Timmins gold camp." Mr. Martin added, "The board is actively engaged in the CEO search, which is progressing well and is expected to yield positive results in the near term. As previously stated in the company's press release of Feb. 21, 2024, Mr. Yarie has agreed to resign his board seat following the appointment of a new CEO."

Operational update

At this time, two drills continue to be active on the Wawa gold project focused on the open-pit target and are concurrently testing the hangingwall above of the Jubilee shear, gaps in the 2019 resource in the Jubilee shear and zones of mineralization in the footwall (below) of the Jubilee shear.

Annual stock option grants

The board of directors granted an aggregate of 2,025,000 stock options on March 20, 2024, to directors, officers, employees and consultants of the company pursuant to its stock option plan. Each stock option is exercisable into one common share of the company at a price of 19 cents per common share, being the closing price of the company's common shares as at the close of market on March 19, 2024. The stock options vest at a rate of 25 per cent on March 20, 2024, as well as 25 per cent on the next three grant date anniversaries up to March 20, 2027, and expire on March 20, 2029.

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 market 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.

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