Red Pine announces engagement with GoldSpot discoveries to investigate the Wawa Gold project

figure 1

43-101 Property Historic Mine Locations

43-101 Property Historic Mine Locations

43-101 Property Historic Mine Locations

Figure 2

Magnetic sensitivity inversion model centered on Surluga resource

Magnetic sensitivity inversion model centered on Surluga resource

Magnetic sensitivity inversion model centered on Surluga resource

TORONTO, 25 November 2021 (GLOBE NEWSWIRE) – Red Pine Exploration Inc. (TSX – V: RPX, OTCQB: RDEXF) (“The Company” or “Red Pine”) announces that it has engaged GoldSpot Discoveries (TSXV: SPOT; OTCQX: SPOFF) to apply its proprietary machine learning technology and greenfield geoscience expertise to Wawa Gold Project. GoldSpot Discoveries (“GoldSpot”) will bring its proven expertise in artificial intelligence that has previously led to important mineral discoveries.

GoldSpot is a technology company that focuses on developing artificial intelligence technologies for the mining and exploration sector. GoldSpot collaborates with some of the leading exploration and mining names in the industry and uses their groundbreaking algorithms to significantly increase the efficiency and success rate of mineral exploration.

The company has a comprehensive land package spanning 6,900 acres in the Michipicoten Greenstone Belt and will focus GoldSpot on areas with the least information so it can effectively plan exploration in those areas. There are several former producing mines on the property that warrant further investigation, and GoldSpot’s input will allow the company to expand the investigation beyond its currently identified high-priority targets.

The airborne magnetic data is a good depiction of the complex geology of the Wawa Gold Corridor. The company’s focus has been on areas such as the historic Surluga and Minto mines, where the preponderance of information was readily available. These areas represent only a small percentage of the property, which includes a large plot of land with numerous existing high-value gold targets.

With the use of GoldSpot’s technology and new data collection methods, the company will be able to refine its discovery process by utilizing sophisticated and cost-effective targeting software to delineate drilling sites to prioritize, a complementary aspect to Red Pine’s technical and geological team with a strong history of discovery success.

figure 1 which accompanies this message is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/6fed985a-9ef9-44d6-a16f-38c6be2b0699

Figure 2 which accompanies this message is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/183a9b42-fdf7-48b5-8fae-df53f1663abe

“We have excellent resources that GoldSpot can target using their technology, including a complete package of geophysical, geochemical, geological and structural databases. GoldSpot technology will enable us to expand our understanding of the gold system in areas of our property that we have not yet explored, “said Quentin Yarie, CEO and President of Red Pine Exploration. the company to expand the current NI 43-101 compliant resource by 1,307,000 tonnes at 5.47 g / t gold for 230,000 ounces in the specified category and 2,716,000 tonnes at 5.39 g / t gold for 471,000 ounces in the derived category contained between surface to a depth of 350 meters. “

Qualified person

Quentin Yarie, P.Geo. and CEO of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information of the news release.

Precautions against covid-19

Red Pine has developed and implemented compatible precautions and procedures in accordance with guidelines from the Province of Ontario. Protocols were introduced to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and the spread of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The company’s ordinary shares are traded on the TSX Venture Exchange under the symbol “RPX”.

The Wawa Gold Project is in the Michipicoten Greenstone Belt in Ontario, a region that has seen huge investment from several manufacturers over the past five years. Its land package houses several historic gold mines and is over 6,900 acres. The company’s chairman of the board is Paul Martin, the former CEO of Detour Gold. The Board of Directors has extensive and diverse experience from such entities as Alamos, Barrick, Generation Mining, Detour Gold and Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

For more information about the company, visit www.redpineexp.com

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Tara Asfour, Investor Relations Manager, (514) 833-1957, tasfour@redpineexp.com

1National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report with effect from 18 August 2021

Neither the TSX Venture Exchange nor its regulatory service provider (as this term is defined in TSX Venture Exchange’s policies) assumes 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 “can”, “should”, “expect”, “plan”, “predict”, “believe”, “estimate”, “predict”, “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, activity levels, performance or performance to differ materially from future results, activity levels, performance or performance. or implied by these forward-looking statements.

Although the company believes that the assumptions and factors used to compile the forward-looking information in this news release are reasonable, such information should not be unnecessarily relied upon as only from the date of this press 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 required by law.

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