Red Pine Exploration Inc. Announce Assay Results from Its 2024 Prospecting Program

Red Pine Exploration Inc. is pleased to announce assay results from its 2024 prospecting program on the Wawa Gold Project, Ontario.

The assay results are from prospecting in the War Eagle area located approximately 3 kilometres (“km”)  south-southeast (“SSE”) of the updated 2024 Mineral Resource Estimate (“2024 MRE”) 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 (the “2024 Technical Report”).

Highlights and Discussion of Results in the War Eagle Area* (Table 1, Figure 1):

• Surface prospecting at the War Eagle Zone, combined with an updated geologic model, outlined a 200 metre (“m”) wide zone hosting several East-Northeast (“ENE”)-oriented gold mineralized structures.
  • The three mineralized trends identified south of the Parkhill Fault are
    • War Eagle South Shear;
      • Grab sample results from 2024 of up to 17.10 grams per tonne (“g/t”) gold and 8.61 g/t gold at two locations along the structure
      • Complements previous grab sample results of up to 10.70 g/t gold and up to 18.40 g/t gold in close proximity along the structure (Source: the 2024 Technical Report)
    • War Eagle North Shear;
      • Grab sample results from 2024 of up to 12.90 g/t gold
      • Complements previous grab sample results of up to 13.70 g/t gold close to the same location along the structure (Source: the 2024 Technical Report)
    • Villeneuve Shear**
      • Channel sampled by Red Pine in 2021 include 1.84 g/t gold over 4.70 m including 4.64 g/t gold over 1.00 m and 3.44 g/t gold over 0.70 m from channel WE-21-001-8 (Source: 2024 Technical Report)
      • Drilling results from the 1990 included 6.31 g/t gold over 0.91 m (AN-90-01) and 1.08 g/t gold over 8.00 m (AN-90-04) – AFRI 41N15NE0019
  • Discovery of new mineralized shear north of the Parkhill Fault
    • Grab sample results from 2024 of up to 2.59 g/t gold.

Michael Michaud, President and CEO of Red Pine commented: “We are very pleased with the latest results of the 2024 surface prospecting program which has now let to the discovery of 3 very prospective areas on the property, with additional results still to be returned. The prospecting program, initiated in July 2024 has been very successful in discovering new gold mineralization north of the 2024 MRE at the Cooper Zone area, at the interpreted faulted southern extension of the main Jubilee shear and now at the War Eagle zone further to the south. The prospecting program highlights the prospectivity of the entire property that remains untested in many areas outside of the 2024 MRE. We look forward to completing follow-up drilling and surface sampling on these new targets during the remainder of 2024 and in 2025.

We are also excited to now be drilling again at the Wawa Gold Project with a fully funded 25,000 m drill program. The primary objective of the drilling is to extend the known zones of gold mineralization beyond the 2024 MRE by focusing on a) the down-plunge and down-dip, underground potential of the Jubilee Shear, b)  the Jubilee/Cooper and Jubilee North areas where recent prospecting and prior drilling has returned encouraging results; and c) the recently discovered faulted extension of the Jubilee Shear on the southern side of the Parkhill Fault.

The results of this drilling program will dictate the next steps for the project.”

Table 1 – Highlights of the 2024 prospecting results from grab samples in the War Eagle area

* The reader is cautioned that grab samples are selective by nature and that the assay results from grab samples are not representative of the actual gold grade of the mineralized zones.

**The reader is cautioned that the drilling results from the 1990 drilling program are historical in nature and that the Qualified Person has not done enough work for their validation

*** Coordinates are provided in UTM NAD 83 Zone 16

The results from the War Eagle Area indicate:

• The prospecting results from 2024 combined with the results from prior prospecting and channel samples reported in the 2024 Technical Report supports the presence of multiple zones of gold mineralization in the shears forming the War Eagle mineralized system.
• The re-interpretation of the drilling results from 1990 using structural measurements taken on the Villeneuve shear in 2024 indicates that the zone remains open at depth as the 1990 drilling did not appropriately test the newly interpreted target.
• The integration of the assay results with the structural measurements taken in 2024 combined with the magnetic trends suggest that the War Eagle shear system could be striking over at least 600 m.

Quality Assurance/Quality Control (“QA/QC”) Measures

Grab samples are transported in security sealed bags for analysis 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. Grab samples gold 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.

Red Pine inserts external gold standards (low to high grade) and blanks at least every 40 grab samples, and routinely inserts blanks immediately after samples with visible gold.

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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