TORONTO, June 18, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to announce further results from the ongoing drilling program at the Wawa Gold Project, Ontario. Near surface drilling completed since May 2025 was conducted as part of the Company's assessment of the open pit potential. (See PR dated May 8, 2025).
Highlights of the Open-Pit Evaluation Drilling
- 45.38 grams per tonne (g/t) gold (Au) over 3.13 metres (m) core length, including 141.00 g/t Au over 0.88 m in hole SD-25-559
- Previous intersections from the same area include:
- 14.51 g/t Au over 4.81 m, including 90.40 g/t Au over 0.67 m in hole SD-25-552
- 109.00 g/t gold over 0.86 g/t Au in historical hole U0590L3 from un-sampled historical core
- 176.00 g/t Au over 0.78 m in hole SD-16-45 that is located on strike from hole SD-25-559;
- Near-surface intersection of 1.86 g/t Au over 19.09 m including 4.28 g/t Au over 4.88 m in hole SD-25-544
Michael Michaud, President and CEO of Red Pine commented: "We are excited about the recent drilling results that highlight local areas of high-grade gold mineralization within the deposit. These high grades occur within broader zones of near-surface mineralization that will be used to assess the potential for open pit production. These near surface high grade results give us greater confidence in our path forward.
"We expect to complete the drill testing of the starter pits in early July after which the Company will begin the update of the 2024 Mineral Resource Estimate ("2024 MRE"), with the objective of concurrently working towards a preliminary economic assessment ("PEA"), anticipated for completion in H1 2026."
Ongoing Drilling Program
Red Pine has currently completed approximately 90% of the fully funded 25,000 m program that commenced in November 2024. Prior to May of this year, drilling was completed to test targets down plunge of the Jubilee Shear to the south and to a lesser extent along the north portion of the Jubilee Shear. Drilling since May has been focused on testing the Jubilee Shear in the Jubilee Mine area that also has potential for starter open-pits (Figures 1 and 2).
Drilling has also continued in several other areas of the Jubilee Shear including:
- 3.80 g/t Au over 4.04 m, including 11.20 g/t Au over 1.00 m in the Hornblende Shear located 200 m west of the Jubilee Shear in hole SD-25-548, which is approximately 75 m away from a previous intersection of 11.00 g/t gold over 0.73 m
- Drilling at depth continues to expand mineralization over 5.00 g/t Au and returned 9.54 g/t Au over 1.03 m in the Jubilee Shear in SD-25-540
| Table 1 Drilling results from the 2024-2025 drilling program | |||||
| Hole (#) | From (m) | To (m) | Length (m)* | Gold (g/t) | Zone (name) |
| SD-25-540 | 855.85 | 856.88 | 1.03 | 9.54 | Jubilee Shear - Main |
| 962.24 | 963.40 | 1.16 | 2.91 | Jubilee Shear - Lower | |
| SD-25-541 | 17.64 | 23.88 | 6.24 | 1.27 | Jubilee Shear - Main |
| including | 22.75 | 23.88 | 1.13 | 4.07 | |
| 39.52 | 52.00 | 12.48 | 1.18 | ||
| including | 39.52 | 41.00 | 1.48 | 6.05 | |
| SD-25-542 | 45.57 | 53.93 | 8.36 | 1.05 | Jubilee Shear - Main |
| Including | 51.56 | 52.77 | 1.21 | 4.24 | |
| SD-25-543 | 29.00 | 47.82 | 18.82 | 1.23 | Jubilee Shear - Main |
| Including | 30.24 | 31.35 | 1.11 | 7.54 | |
| SD-25-544 | 23.45 | 42.54 | 19.09 | 1.86 | Jubilee Shear - Main |
| Including | 24.05 | 26.12 | 2.07 | 7.39 | |
| and | 35.54 | 36.81 | 1.27 | 5.52 | |
| 127.25 | 129.00 | 1.75 | 6.02 | Jubilee Shear - Lower | |
| SD-25-545 | No significant results | ||||
| SD-25-546 | 15.40 | 18.87 | 3.47 | 1.87 | Jubilee Shear - Main |
| Including | 18.05 | 18.87 | 0.82 | 4.99 | |
| 111.96 | 113.05 | 1.09 | 3.07 | Jubilee Shear - Lower | |
| SD-25-548 | 15.40 | 18.87 | 3.47 | 1.87 | Jubilee Shear - Main |
| Including | 18.05 | 18.87 | 0.82 | 4.99 | |
| 111.96 | 113.05 | 1.09 | 3.07 | Jubilee Shear - Lower | |
| 201.40 | 205.44 | 4.04 | 3.80 | Hornblende Shear | |
| Including | 201.40 | 202.40 | 1.00 | 11.20 | |
| 250.00 | 255.51 | 5.51 | 1.06 | ||
| SD-25-550 | 81.00 | 84.00 | 3.00 | 3.44 | Jubilee Shear - Main |
| Including | 83.00 | 84.00 | 1.00 | 9.57 | |
| 113.00 | 114.00 | 1.00 | 4.42 | Jubilee Shear - Lower | |
| SD-25-553 | 13.75 | 14.83 | 1.08 | 2.73 | Jubilee Shear - Upper |
| SD-25-555 | 50.00 | 51.45 | 1.45 | 2.87 | Jubilee Shear - Main |
| SD-25-557 | No significant results | ||||
| SD-25-558 | 79.84 | 80.84 | 1.00 | 3.67 | Jubilee Shear - Main |
| SD-25-559 | 118.80 | 121.93 | 3.13 | 45.38 | Jubilee Shear - Main |
| Including | 118.80 | 119.68 | 10.88 | 141.00 | |
| and | 119.68 | 121.25 | 1.57 | 11.00 | |
| *Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6.0 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 70 to 95% of the reported core length in the Jubilee Shear. In total there are 14 holes. In total this represents 4463.85 m. The reported assay results represent 3,416.11 m of assayed core from the 2025 drilling program from which 1288.71 m comes from the testing at depth of the Jubilee Shear and 2127.4 m comes from the testing of potential starter pits in the Northern Area. | |||||
Quality Assurance/Quality Control ("QA/QC") Measures
Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed.
As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing.
| Table 2 - Drill hole location details | ||||||||
| Hole (#) | UTM E (m) | UTM N (m) | Elevation (masl) | Azimuth (°) | Inclination (°) | Length (m) | Assays Status | Area |
| SD-25-540 | 668922 | 5315725 | 353.3 | 240.0 | 70.4 | 1,002.0 | Complete | Jubilee Deep |
| SD-25-541 | 668219 | 5317008 | 359.6 | 295.0 | 45.2 | 390.0 | Complete | Northern area |
| SD-25-542 | 668258 | 5317118 | 364.0 | 295.1 | 45.2 | 399.0 | Complete | Northern area |
| SD-25-543 | 668283 | 5317185 | 359.3 | 302.3 | 45.0 | 57.0 | Complete | Northern area |
| SD-25-544 | 668267 | 5317163 | 362.0 | 302.0 | 45.0 | 162.0 | Complete | Northern area |
| SD-25-545 | 668562 | 5315305 | 370.8 | 283.2 | 83.2 | 1,033.7 | Complete | Jubilee Deep |
| SD-25-546 | 668233 | 5317053 | 363.9 | 294.9 | 49.2 | 150.0 | Complete | Northern area |
| SD-25-548 | 668328 | 5317385 | 371.3 | 290.2 | 45.2 | 264.0 | Complete | Northern area |
| SD-25-550 | 668365 | 5317458 | 375.9 | 290.0 | 70.1 | 135.15 | Complete | Northern area |
| SD-25-553 | 668339 | 5317414 | 376.4 | 289.2 | 70.0 | 141.0 | Complete | Northern area |
| SD-25-555 | 668343 | 5317443 | 374.9 | 290.2 | 45.0 | 148.0 | Complete | Northern area |
| SD-25-557 | 668344 | 5317442 | 375.2 | 290.0 | 70.1 | 162.0 | Complete | Northern area |
| SD-25-558 | 668386 | 5317432 | 376.9 | 290.0 | 80.1 | 150.0 | Complete | Northern area |
| SD-25-559 | 668393 | 5317435 | 377.6 | 6.1 | 76.9 | 270.0 | Complete | Northern area |
Qualified Person
Jean-Francois Montreuil, P.Geo. and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and 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. The Company's 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.
For more information about the Company, visit www.redpineexp.com
Or contact:
Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@redpineexp.com
Or
Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@redpineexp.com
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance.
Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding recent drilling results that will be used to assess the potential of open pit production; the Company's expectation that the drill testing of the starter pits will be completed in early July; commencing the updating the 2024 MRE; and working towards a PEA, anticipated for completion in H1 2026. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance.
This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024, January 31, 2025 and April 30, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Figure 1 - Core photo of SD-25-559 showing VG. Core is NQ size core with a diameter of 47.6 mm, B is a cross cut of the core.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c76ef79c-a853-4c9d-b798-73e2a1e36472
Figure 2 - Longitudinal view of Jubilee shear showing the Conceptual pit models with the drill results to test the conceptual pits.
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f83c08a-0c7b-4262-a3a2-3544d11b2038
