Mr. Michael Michaud reports

RED PINE COMMENCES 2024-25 DRILLING PROGRAM AT THE WAWA GOLD PROJECT

Red Pine Exploration Inc. has begun its fully financed, 25,000-metre drilling program for 2024 and 2025 at the Wawa gold project.

The primary objective of the drilling program is to extend the zones of gold mineralization in the already-sizable gold system of the Wawa gold project beyond the 2024 mineral resource estimate by focusing on:

• The down-plunge, underground potential of the Jubilee shear, where limited drilling has returned results of up to 14.87 grams per tonne gold over 5.20 metres (core length), 8.89 g/t gold over 3.75 m (core length) and 120.88 g/t gold over 0.30 m (core length; Jubilee South);
• The down-dip potential beneath the reported pit shell for the Jubilee shear that remains untested (Jubilee Central);
• The northern extension of the Jubilee shear in the Jubilee/Cooper area, where recent prospecting has returned encouraging results (Jubilee North and Jubilee/Cooper);
• The recently discovered faulted extension of the Jubilee shear on the southern side of the Parkhill fault (Jubilee Extension).

The 2024 MRE is described in the National Instrument 43-101 technical report dated Sept. 30, 2024 (with a resource effective date of Aug. 28, 2024) entitled "National Instrument 43-101 Technical Report for the Wawa Gold Project."

In each of the target areas, numerous mineralized zones are planned to be concurrently tested with the Jubilee shear. This will include some of the more regional targets identified based on the results of the 2024 prospecting program and the reevaluation of exploration targets on the property. The company anticipates being able to report the preliminary results of the program in the first quarter of 2025.

Michael Michaud, president and chief executive officer of Red Pine, commented: "We are very excited to recommence exploration drilling at the Wawa gold project after delivering on several of our goals for 2024, including completing a successful field program with the discovery of a number of new targets, updating our geological model, increasing our mineral resource estimate by 150 per cent within a conceptual pit shell, and raising the necessary funds for this drilling program. The drilling contractor was selected as part of a competitive tender process.

"We believe that this well-rounded and bold exploration program, designed to show a 'line of sight' to future increases to the mineral resource, will mark an important step in our plan to add value to Red Pine. As the program includes a significant portion of both extension drilling of known zones and exploration in untested areas to discover new mineralized zones, it is intended to demonstrate the potential of the property to host a significantly larger open-pit and underground mineral resource. Additionally, more limited drilling will be designed to test several new conceptual targets and more regional targets discovered during the recent surface prospecting.

"The results of this drilling program will dictate the next steps for the project and allow for a more formal assessment of various mining and processing scenarios."

Quality assurance/quality control measures

Drill core samples are transported in security sealed bags for preparation and analyses to Activation Laboratories Ltd. in Ancaster, Ont. Individual samples are labelled, placed in plastic sample bags and sealed. Sample batches are then placed into durable rice bags and shipped. NQ- or HQ-size core (drilled previously) and NQ-size core (current drill program) assays were obtained by 50-gram fire assaying with an atomic absorption finish, or by one-kilogram screen fire assay. The one-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire assay/AA finish return results greater or equal to 2.25 g/t gold.

As part of its updated and independently reviewed quality assurance/quality control program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples, and routinely inserts blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least two members of the senior management team and are directly accessible from the WebLIMS portal of Actlabs. Red Pine has also initiated third party umpire testing of approximately 5 per cent of the primary samples assayed at Actlabs at Bureau Veritas Canada Inc. in Vancouver, B.C.

Qualified person

Jean-Francois Montreuil, PGeo, vice-president, exploration, the qualified person as defined by NI 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 past five years. The company's land package hosts numerous historical 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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