Mr. Paul Martin reports

RED PINE INTERCEPTS SIGNIFICANT MINERALIZATION AT THE WAWA GOLD PROJECT, INCLUDING 5.58 G/T GOLD OVER 18.44 M INCLUDING 72.20 G/T GOLD OVER 0.88 M

Red Pine Exploration Inc. has released the most recent assay results from 14 drill holes representing 4,105 metres of drilling from the 2022 to 2024 resource expansion program at the Wawa gold project. Since the resource expansion drilling program began in 2021, Red Pine has now completed approximately 67,000 m of additional drilling in the current program for the new mineral resource estimate update. Of these holes, approximately 60,300 m have now been reported and the company expects additional results to follow over the coming months from the remaining core.

Drilling highlights:

• 5.58 grams per tonne gold over 18.44 m, including 6.18 g/t gold over 1.11 m, and 72.20 g/t gold over 0.88 m in SD-24-515 within the Jubilee shear system;
• 2.21 g/t over 13.27 m, including 7.59 g/t gold over 0.88 m in SD-24-499A within the Jubilee shear system;
• 1.48 g/t gold over 11.89 m, including 5.69 g/t gold over one m within the Jubilee shear system in SD-24-511;
• 1.40 g/t gold over 14 m, including 8.77 g/t gold over one m within the Jubilee shear system in SD-24-505;
• 0.73 g/t gold over 9.57 m, including 2.41 g/t gold over 1.09 m within the Minto B shear in SD-24-496;
• 1.25 g/t gold over 7.86 m within a new vein network in SD-24-509A.

Paul Martin, interim chief executive officer and chair of the board of Red Pine, commented: "The latest drill results have continued to intersect extensions of gold mineralization within and away from the higher-grade Jubilee shear; the host of the current main underground mineral resource. As part of this drilling, near-surface gold mineralization in the hangingwall of the Jubilee shear has continued to be intersected and is expected to contribute to reducing the stripping ratio under any proposed open-pit scenario. The recent intersection of significant gold mineralization in the Jubilee shear continues to confirm the continuity of the mineralization that remains open down dip and down plunge.

"With the detailed review, and correction, of our drill database completed and the addition of significant gold assays from our drill program, we look forward to reporting our updated NI 43-101 resource in Q3. The company anticipates a mid-June cut-off for the drilling assay database for the resource update."

Discussion of drill results

In the Jubilee shear system, the results of the exploration program indicate:

• Continuous increase of the size and the confidence, and to improve the continuity of gold mineralization greater than or equal to two g/t gold in the main segment of the Jubilee shear.
• Gold mineralization remains opens at depth in the Jubilee shear down dip and down plunge of the existing mineral resource.
• Gold mineralization extends to surface beyond the northern extent of the existing mineral resource.

In the hangingwall of the Jubilee shear, the new results comprise or indicate:

• Mineralized intercepts in the hangingwall of the Jubilee shear confirms the presence of mineralization zones.
• Gold mineralization in the hangingwall of the Minto B shear occurs as submetre- to multimetre-wide shear zones surrounded by network of extensional quartz veins, that are typically centred on narrow gabbroic injections in the Jubilee stock and are shallowly to moderately dipping to the south and southeast.
• A secondary type of gold mineralization in the hangingwall relates to the presence of zones of intrusion-related gold (IRG) and shear-hosted mineralization associated with sulphide disseminations.

Quality assurance/quality control (QA/QC) measures

Following the recent discovery of selective manipulation of historical assay data, the company has implemented changes in the internal handling and dissemination of assay certificates. The assay certificates are now sent to at least two members of the senior management team, and they are accessible directly from the laboratory using a Web portal that has been activated.

The rebuilding of the company's drilling assay database from the corrected assay certificates in preparation for its coming resource update on the Wawa gold project is also complete and will be compared to the database being compiled under the direction of the external qualified person.

Improvements have also been added to the company's QA/QC protocols under the direction of the recently appointed new chair of the technical committee and the incoming president and chief executive officer.

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 revised and strengthened quality control program to comply with best practices in the sampling and analysis of drill core. As part of its updated and independently reviewed QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples, and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization.

Qualified person

Jean-Francois Montreuil, PGeo, vice-president, 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 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 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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