Significant Mineralization Intersected At Wawa Gold Project

TORONTO - Red Pine Exploration Inc. reported on 8 drill holes representing 1,881.40 metres (m) of assayed drill core from the 2022-2024 resource expansion program at the Wawa Gold Project. Since the resource expansion drilling program began in 2021, and with final compilation of the drilling assay database and geological domaining, an additional 60,000 m of drill core from 177 drill holes, distributed in 47,600 assay samples, will be considered for the upcoming mineral resource update with an effective database cut-off date of June 21, 2024.

In addition, the Company has 5,000 m of drill core distributed in 22 drill holes from the current drill program for which assays are pending and expects additional drilling results to follow over the coming months which will be reported, but not included, in the updated mineral resource estimate.

Paul Martin, Interim CEO and Chair of the Board, said, “The latest drill results continue to attest to the existence of significant mineralization in the Jubilee Shear, outside the limits of the former underground mineral resource1. Zones of near surface gold mineralization in the hanging wall of the Jubilee Shear continue to be intersected and are expected to contribute to reducing the stripping ratio under any proposed open pit scenario.”

This news release contains the last assay results that will be considered in the upcoming mineral resource estimation for the Wawa Gold Project. We would like to acknowledge the work of Red Pine’s team in Wawa and of Actlabs for enabling the rapid turnaround of drilling assay results, which allows for the inclusion of an increased number of samples in the accelerated and upcoming mineral resource estimation."