Red Pine Provides Update On Assay Results for Wawa Gold Project

TORONTO, May 06, 2024 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”), further to its press release of May 1, 2024 (the “Prior Press Release”), provides an update on the Company’s progress on its investigations into the reporting inconsistencies in certain assay results from the Wawa Gold Project.

The Company confirms that the issues set out in the Prior Press Release are unrelated to the integrity of its quality assurance/quality control (“QA/QC”) measures with respect to the drill core samples collected from the Wawa Gold Project and transported to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario for assay purposes.  The Company is confident that the assay results provided by Actlabs to the Company were correct and accordingly, that the Company can securely rely on Actlabs’ certified assay results. 

The issue noted in the Prior Press Release was specific to certain inconsistencies between some of the certified assay results received from Actlabs and the corresponding assay results reported by the Company in the applicable press releases, other disclosure documents and the Wawa Gold Project assay database. 

The Company has engaged WSP Global Inc. (“WSP”) to lead an independent data verification of all assay certificates from 2014 to the present, copies of which have now been downloaded by Actlabs to a secure site. This verification process will provide the Company with a reliable baseline to update the Wawa Gold Project mineral resource estimate set out in the Company’s National Instrument 43-101 Technical Report dated June 21, 2023 (with a resource effective date of May 31, 2019).

The Company will continue to keep the market updated as further information becomes available.

Qualified Person

Jean-Francois Montreuil, P.Geo. and Vice President, Exploration of Red Pine and a Qualified Person, as defined by National Instrument 43-101, has reviewed and/or approved the technical information contained in this news release.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol “RDEXF”.

The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region.