Red Pine Discovers Significant Gold Mineralization in Faulted Extension of the Jubilee Shear on the Wawa Gold Project

Red Pine Exploration Inc. is pleased to announce the assay results from an additional 13 drill holes representing 2,725 metres (“m”) of assayed core length as part of the completed 2022-2024 drilling program at the Wawa Gold Project, Ontario.

As part of its property-wide surface prospecting program initiated in July 2024, Red Pine revisited various holes drilled between 2022 and 2024. In one of the relogged drill holes designed to test the faulted offset of the Jubilee Shear, significant gold mineralization was discovered. This gold mineralization has geological attributes comparable to the zones of mineralization in the Jubilee Shear which form the current 2024 Mineral Resource Estimate (“MRE”) described in 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 has confirmed that shallow, south-plunging gold mineralization of the Jubilee Shear in the north part of the property continues to the south in the faulted extension of the Jubilee Shear. The shear has been shifted approximately 800 m to the southeast along the later stage Parkhill Fault. The discovery of comparable gold mineralization in JS-22-392 to that contained in the northern segment of the Jubilee Shear, with additional drilling, could significantly add to the current mineral resource base.

Significant gold mineralization is also recorded in several of the other remaining holes of the exploration program being released. Results from these holes extended gold mineralization in the Jubilee Shear and other adjacent zones in the hanging wall of the shear.

Drilling Highlights and Discussion of Results (Tables 1-2, Figures 1 and 2):

• Faulted offset of the Jubilee Shear south of the Parkhill Fault
  • JS-22-392 intersected a vein network in the hanging wall of the Jubilee Shear assaying:
  • 1.19 grams per tonne (“g/t”) gold over 6.48 m, including 5.32 g/t gold over 1.29 m
• JS-22-392 intersected the extensions of the Jubilee Shear, with visible gold noted, assaying:
  • 5.53 g/t gold over 1.20 m
  • 0.97 g/t gold over 11.83 m including 4.02 g/t gold over 1.26 m and 3.46 g/t gold over 1.00 m
  • 2.75 g/t gold over 5.78 m including 7.03 g/t gold over 2.11 m
• Hanging wall of the Jubilee Shear north of the Parkhill Fault
• 8.96 g/t gold over 1.32 m in SD-24-514 in a shear zone
• 22.40 g/t gold over 1.44 m in SD-24-514 within the Minto B Shear

• Jubilee Shear North of the Parkhill Fault
• Main Deformation Domain
• 1.79 g/t gold over 13.23 m including 7.17 g/t gold over 1.06 m in SD-24-512
• Shears below the Main Deformation Domain
• 10.30 g/t gold over 1.35 m in SD-24-518

Michael Michaud, President and CEO of Red Pine comments: “We are pleased with the recent results that intersected significant gold mineralization from the southern, down plunge extension of the Jubilee shear offset by the later stage Parkhill Fault. Previous near-surface exploration has never intersected such encouraging gold mineralization. It is only now with the deeper drilling, along with a better understanding of the geologic model, that we have intersected the interpreted down-plunge continuation of the Jubilee shear gold mineralization.

This new discovery with limited drilling completed, has highlighted the potential to significantly add to the mineral resource base with further drilling. As such, this area will be tested in the upcoming surface drill program expected to commence in early November.”

Quality Assurance/Quality Control (“QA/QC”) 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. 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 gold. 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 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. Assay certificates are sent to at least two members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Red Pine has also initiated umpire testing of approximately 5% of the pulps and coarse rejects analyzed at Actlabs at Bureau Veritas in Vancouver.

Table 1 – Results from resource expansion and exploration drill program

*Intercepts are calculated using a 0.40 g/t gold 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.

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.

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