Red Pine Exploration Inc. (TSX-V: RPX) (OTCQB: RDEXF) is pleased to announce that two drills are now operating at site, towards completion of the fully funded 25,000 metre drill program at its Wawa Gold Project. The two drills are now testing the deep extension of the Jubilee shear beyond the 2024 Mineral Resource Estimate with three drill holes now completed. The Company has also received assay results from the relogging of 2024 drill holes designed to test the Jubilee Shear south of the Parkhill Fault.

Michael Michaud, President and CEO of Red Pine commented: “We are excited to commence drilling the Jubilee Shear at depth which has already intersected alteration, veining and visible gold, confirming that the deposit is larger than defined in the MRE. We anticipate receiving the assay results associated with this drilling later this month.

Key Points

• Three drill holes that tested the extensions of the Jubilee Shear at depth intersected quartz veins with visible gold approximately 170 m and 100 m away from the closest intersections, including in the deepest intersection ever completed in the Jubilee Shear.
• Intersected the Minto Vein with visible gold more than 100 m away from previous drilling.
• Relogged drill core found significant gold mineralization grading 5.81 g/t Au over 2.16 m at depth in the Jubilee Shear.

We are also pleased with the initial results from drilling completed in late 2024 that was designed to test the faulted extension of the Jubilee Shear south of the Parkhill Fault 850 m away from the MRE. This drilling provided visibility on a sizeable gold system in that area with the intersection of local zones of higher-grade gold mineralization, quartz veins containing visible gold and several lower grade intercepts. We are excited about these initial drilling results as they confirm the extension of the Jubilee Shear and the potential to host higher-grade shoots that are interpreted to occur in an area deeper than the recently completed drilling.

The new drilling also confirms the orientation of the Parkhill Fault and outlines potential down-plunge extensions ranging from 300 m to more than 500 m from the current zones of mineralization forming the MRE.”

The MRE is described in the National Instrument 43-101 Technical Report dated September 30, 2024 (with a resource effective date of August 28, 2024) entitled “National Instrument 43-101 Technical Report for the Wawa Gold Project”.

Drilling Highlights and Discussion of Results (Table 1 and Figure 1 and 2):

Jubilee Shear

• Visible gold observed in quartz veins in the Jubilee Shear in both SD-25-531, 170 m down-plunge, and in SD-25-532, 100 m up-plunge of the MRE (see Figures 1 and 2);
• SD-25-531 is currently the deepest intersection in the Jubilee Shear in the history of the Wawa Gold Project;
• Intersection of 5.81 g/t Au over 2.16 m in the Jubilee Shear beyond the boundaries of the MRE;
• Extension of the Minto Vein more than 100 m away from the closest drill hole at the southern end of the Minto Deposit;
• Defined the orientation of Parkhill Fault which now supports a probable plunge extension ranging from 300 m to > 500 m for the southernmost mineralization zones that are included in the MRE in the Jubilee Shear.

Jubilee Shear south of the Parkhill Fault

• Limited drilling started and completed in late 2024 tested the extension of the Jubilee Shear approximately 850 m south of the MRE.
• Initial results from this previously undrilled area have now been received. The Company will prioritize returning to the area later in the 25,000 m drilling program with a view to identify the higher-grade shoots interpreted to exist at deeper levels within the shear zone.
• Drilling extended gold mineralization laterally along strike over 380 m and down-dip up to 250 m in the tested area with multiple mineralized intercepts in many drill holes
• 16 intersections grading over 1.00 g/t Au were identified, including 3.61 g/t Au over 1.57 m, 4.51 g/t Au over 0.70 m and 4.73 g/t Au over 1.45 m.
• Many of the intersections over 1.00 g/t Au are surrounded by broader haloes of mineralization grading between 0.20 g/t and 1.00 g/t Au.
• Drilling in this area in 2022 intersected a vein network in the hanging wall of the Jubilee Shear assaying 5.32 g/t Au over 1.29 m and intersected 5.53 g/t Au over 1.20 m and 7.03 g/t Au over 2.11 m in the Jubilee Shear (See October 31, 2024 news release).

Table 1 Drilling results from targeted relogging and the 2024 drilling program

*Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 50 to 95% of the reported core length. The reported assays results represent 2,381,03 m of assayed core from the 2024-2025 drilling program.
¹Results from relogged drill holes representing 810.10 m of assayed core length.

Quality Assurance/Quality Control Measures

Drill core samples are transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and shipped. NQ and HQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-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 Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed.

As part of its 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. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Bureau Veritas in Vancouver for umpire testing.

Table 2 – Drill hole location

Qualified Person

Jean-Francois Montreuil, P.Geo. and 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.

The Board of Directors granted an aggregate of 2,845,000 stock options on January 29, 2025 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 $0.11 CAD per common share, being the closing price of the Company’s common shares as at the close of market on January 28, 2025. The stock options vest at a rate of 25% on January 29, 2025, as well as 25% on the next three grant-date anniversaries up to January 29, 2028, and expire on January 29, 2030.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, 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. The Company’s 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.

Figure 1 – Location of Diamond Drilling Results

Figure 2 – Visible gold in a 15-cm wide quartz vein in the Jubilee Shear in SD-25-532 approximately 100 m up-plunge of the MRE with assays pending