Red Pine Exploration Initiates Drilling Phase of 2019 Exploration Program at its Wawa Gold Project

TORONTO, Aug. 01, 2019 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (the “Company” or “Red Pine”) announces that drilling has restarted at its Wawa Gold Project, located 2 kilometres southeast of Wawa, Ontario. The new drilling program is focused on: 1) testing priority targets at the newly discovered Cooper Structure, 2) proving the continuation of the Surluga Deposit to depth beyond the footprint of the current resource, and 3) testing strategic exploration targets in the Hornblende Shear Zone. Drilling at the Cooper Structure is expected to continue until Mid-August, followed by drilling at the Surluga Deposit.

The Company filed a new NI 43-101 Technical Report for the Wawa Gold Project on July 16, 20191 that outlines two (2) new resource estimates for the property:

  • The Surluga Deposit has an indicated resource of 1.2 million tonnes grading 5.31 g/t  for 205,000 ounces gold and an inferred resource of 2.36 million tonnes grading 5.22 g/t for 396,000 ounces gold;
  • The Minto Mine South Deposit has an indicated resource of 105,000 tonnes grading 7.5 g/t for 25,000 ounces gold and an inferred resource of 354,000 tonnes grading 6.6 g/t for 75,000 ounces gold;
  • Over 95% of the contained ounces at both deposits are located between surface and 350 metres depth;
  • Both deposits remain open at depth.

Cooper Structure
Red Pine has identified an additional six (6) gold-bearing structures at the Wawa Gold Project (Figure 1). The Cooper Shear System, located 1 kilometre north of the northernmost extension of the Surluga Deposit, is structurally and mineralogically similar to the structure of the Minto Shear System. Mechanized stripping was undertaken at the Cooper Structure in June 2019 to confirm the continuity of the structure. Selected zones were channel sampled for grade control at surface and results from channel sampling are pending.

Surluga Deposit
Red Pine’s recent re-interpretation of its magneto-telluric survey indicates that the Jubilee Shear Zone (the host of the Surluga Deposit) extends at depth and remains a structure of considerable dimension. Over a strike length of 1.5 kilometres, the Jubilee Shear Zone was never drilled beyond the footprint of the current inferred resource. In the south extension of the deposit, covering a strike length of 350 metres, seven deep holes were drilled in 2007 by previous operators in the Jubilee Shear. The 2007 deep holes indicate the continuity of the structure and gold mineralization 700 metres below surface and 500 metres down-dip of the current resource boundary. The intersection in hole 07-391 of 11.4 g/t gold over 3.4 metres, including 120.9 g/t gold over 0.3 metres, indicates the potential of the down-dip extension of the Jubilee Shear Zone to host deeper high-grade gold zones beyond the footprint of the current resource.

The historic deep high-grade intersections in the Surluga Deposit are however too widely spaced to define a mineral resource and are completely un-explored up-plunge and down-plunge.  Red Pine’s short-wave infrared (“SWIR”) measurements in the drill holes at the edges of the current resource also indicate that the structure remains favourable to host high-grade gold zones at depth.

Hornblende Shear Zone
Using its internally developed method of gold vectoring with SWIR, the Company detected, in the Hornblende Shear Zone, a positive anomaly associated with a wide gold intersection of 0.4 g/t gold over 73.8 metres, including 13 g/t gold over 1.08 metres. The SWIR anomaly associated with that intersection in the Hornblende Shear Zone suggests the proximity to and the continuity of high-grade mineralization. The up-dip extension of that intersection will be tested during the current diamond drilling program.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa5765cd-1a81-4773-b678-33e66286e508

Qualified Person
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company’s common shares trade on the TSX Venture Exchange under the symbol “RPX”.

Red Pine has a 60% interest in the Wawa Gold Project with Citabar LP. holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.

For more information about the Company visit www.redpineexp.com

Or contact:

Quentin Yarie, President & CEO, (416) 364-7024, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]

1National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Source: GlobeNewswire (August 1, 2019 – 10:30 AM EDT)

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