Red Pine Announces Completion of Sale of Algoma-Talisman Property

Red Pine Exploration Inc. further to its press release dated August 20 th 2021 announces the completion of the sale of all of Red Pine’s Algoma-Talisman gold prospective property located in Newton Township, Ontario to Newton Gold Corp. for a total purchase price of CAD $1,050,000. Red Pine has now received the remaining CAD $500,000 of the cash portion of the Purchase Price payable by Newton in connection with the Transaction. In addition, Newton has granted a net smelter royalty of 1.5% from mineral production on the Property to Red Pine, which can be repurchased by Newton for CAD $500,000.

Red Pine plans to use the proceeds from the sale of the property to continue to fund the expanded exploration program at its Wawa Gold Project.

This Media Release