Red Pine Announces Drilling reveals significant Mineralization

Red Pine Exploration Inc. is pleased to announce assay results from 7 drill holes representing 2,538 metres (“m”) of diamond drilling from the 2023-2024 resource expansion program at the Wawa Gold Project. Since the resource expansion drilling program began in 2021, Red Pine has now drilled approximately 66,100 m of the targeted program of up to 70,000 meters. Of these holes, approximately 57,000 m have now been reported.

Drilling Highlights:

Contained within the Jubilee Shear System (Table 1)

• 5.34 grams per tonne (“g/t”) gold over 13.39 m, including 16.50 g/t gold over 0.97 m and 13.62 g/t gold over 2.13 m in SD-24-490 (partial results were released on April 3, 2024 here)
• 2.16 g/t over 31.89 m, including 6.54 g/t gold over 3.39 m in SD-24-493
• 1.70 g/t gold over 39.30 m including 5.13 g/t gold over 2.42 m and 3.39 g/t gold over 4.96 m in SD-24-502
• 3.29 g/t gold over 8.80 m including 9.55 g/t gold over 1.00 m in SD-24-500
• 17.90 g/t gold over 1.00 m in SD-24-492
• 2.44 g/t gold over 18.07 m, including 9.75 g/t gold over 1.18 m and 7.62 g/t gold over 1.19 m in SD-23-487

Jean-Francois Montreuil, Vice President, Exploration of Red Pine commented:

“Within and surrounding the Jubilee Shear, the host of the current underground Surluga mineral resource¹, our drilling campaign continues to yield positive results. We continue to extend the footprint of significant mineralization in the Jubilee Shear and in the  zones below the Jubilee Shear, and to encounter gold mineralization in the hanging wall of the Jubilee Shear. The positive drilling results in the Jubilee Shear are expected to have a positive impact on a future resource by growing and improving the confidence of the structure grading above 2.0 g/t gold. The continued and progressive extension of the footprints of gold mineralization west of the Jubilee Shear outline new exploration targets that represent additional opportunities to increase the gold inventory of the property.”

Table 1– In and below the Jubilee Shear System (Figures 1 and 2)

*Intercepts are calculated using a 0.4 g/t gold cut-off and a maximum of 5 m of internal dilution with no capping applied and are reported over core lengths. True width is estimated to vary between 75 to 95% of the reported core length.

Table 2– Hanging wall of the Jubilee Shear (Figures 1 and 2)

*Intercepts are calculated using a 0.40 g/t gold cut-off grade and a maximum of 5 m of internal dilution with no capping applied and are reported over core lengths. True width is estimated to vary between 40 to 90% of the reported core length depending on the mineralization types defining the intersected gold zones.

Discussion of Drill Results

In the Jubilee Shear System, the new results:

• increase the size and the confidence, and improve the continuity of gold mineralization >= 2 g/t gold in the main segment of the Jubilee Shear; and
• confirm the presence and the continuity of gold mineralization in the shear zones that are parallel and located below the main zone of the Jubilee Shear that is hosting the 2021 resource.

The on-going drilling program continues to widen the footprints of the mineralized system centered on the Jubilee Shear System beyond the footprints of the 2021 resource¹. It shows that mineralization of significance and with indications of continuity is present in shear zones below the Jubilee Shear.

In the hanging wall of the Jubilee Shear, the new results:

• Extend the footprints of gold mineralization in a shear zone over the Jubilee Shear

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

Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and shipped. The residual coarse reject portions of the samples remain in storage if further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

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