Mr. Paul Martin reports

RED PINE INTERCEPTS SIGNIFICANT MINERALIZATION AT THE WAWA GOLD PROJECT, INCLUDING 5.34 G/T OVER 13.39 METRES INCLUDING 16.50 G/T GOLD OVER 0.97 METRE AND 13.62 G/T GOLD OVER 2.13 METRES

Red Pine Exploration Inc. has released assay results from seven drill holes representing 2,538 metres of diamond drilling from the 2023 to 2024 resource expansion program at the Wawa gold project. Since the resource expansion drilling program began in 2021, Red Pine has now drilled approximately 66,100 m of the targeted program of up to 70,000 metres. Of these holes, approximately 57,000 m have now been reported.

Drilling highlights

Contained within the Jubilee shear system (see the table entitled "In and below the Jubilee shear system):

• 5.34 grams per tonne (g/t) gold over 13.39 m, including 16.50 g/t gold over 0.97 m and 13.62 g/t gold over 2.13 m in SD-24-490 (partial results were released on April 3, 2024);
• 2.16 g/t over 31.89 m, including 6.54 g/t gold over 3.39 m in SD-24-493;
• 1.70 g/t gold over 39.30 m, including 5.13 g/t gold over 2.42 m and 3.39 g/t gold over 4.96 m in SD-24-502;
• 3.29 g/t gold over 8.80 m, including 9.55 g/t gold over one m in SD-24-500;
• 17.90 g/t gold over one m in SD-24-492;
• 2.44 g/t gold over 18.07 m, including 9.75 g/t gold over 1.18 m and 7.62 g/t gold over 1.19 m in SD-23-487.

Jean-Francois Montreuil, vice-president of exploration for Red Pine, commented:

"Within and surrounding the Jubilee shear, the host of the current underground Surluga mineral resource, our drilling campaign continues to yield positive results. We continue to extend the footprint of significant mineralization in the Jubilee shear and in the zones below the Jubilee shear, and to encounter gold mineralization in the hanging wall of the Jubilee shear. The positive drilling results in the Jubilee shear are expected to have a positive impact on a future resource by growing and improving the confidence of the structure grading above two g/t gold. The continued and progressive extension of the footprints of gold mineralization west of the Jubilee shear outline new exploration targets that represent additional opportunities to increase the gold inventory of the property."

Discussion of drill results

In the Jubilee shear system, the new results:

• Increase the size and the confidence, and improve the continuity of gold mineralization greater than or equal to two g/t gold in the main segment of the Jubilee shear; and
• Confirm the presence and the continuity of gold mineralization in the shear zones that are parallel and located below the main zone of the Jubilee shear that is hosting the 2021 resource.

The continuing drilling program continues to widen the footprints of the mineralized system centred on the Jubilee shear system beyond the footprints of the 2021 resource. It shows that mineralization of significance and with indications of continuity is present in shear zones below the Jubilee shear.

In the hanging wall of the Jubilee shear, the new results:

• Extend the footprints of gold mineralization in a shear zone over the Jubilee shear.

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 to high grade) and blanks every 20 samples in addition to random standards, blanks and duplicates.

Qualified person

Mr. Montreuil, PGeo, vice-president of exploration of Red Pine and the qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

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 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region.

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