Red Pine Exploration continues to extend the high-grade Minto Mine South Zone; 13.8 g/t gold over 2 metres
Friday, Jul 14, 2017
Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") is pleased to announce new results from five drill holes completed as part of its 20,000 metres ("m") drilling program at the Wawa Gold Project which includes 13.8 grams per ton ("g/t") over 2m.

Drilling highlights for the Minto Mine South Zone include:

  • Extension of the high-grade core of the Minto Mine South Zone laterally and at depth;
  • Observation of visible gold in step-out holes up to 80m south along strike of the Minto Mine South Zone;
  • Discovery of the Minto E structure overlying the Minto Mine South Zone with two drilling intersections containing visible gold (results pending);
  • Discovery of a gold-bearing shear zone overlying the Minto Mine South Zone in SD-17-85 containing 1.37 g/t gold over 7.4m; and
  • Minto Mine South Zone remains open at depth, along strike to the south and to the east and west.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "The on-going drilling in the Minto Mine South Zone continues to prove high-grade gold into the structure. We are also excited by the discovery of adjacent structures (Minto E) in which visible gold was observed in two holes. This significantly expands the potential of the Minto Mine South Zone.

From a larger view, it is exciting that the spatial relation between the Minto Mine South Zone and the Minto E Zone indicates a structural similarity with the Parkhill Mine, the highest-grade gold resource historically mined on the property. We will continue to aggressively explore the multiple discoveries made in the Minto Mine area."

Overview of the drilling results in the Minto Mine South Zone area

Recent results and the multiple discoveries (Darwin-Grace, Minto South Zone, Surluga North, Hornblende-William) highlight the many centers of gold mineralization that are anticipated to have a positive impact on the property gold inventory. All the mineralized centers are interpreted to form from a coherent structural system hosted within and spatially connected by the Wawa Gold Corridor.

The five holes presented above were testing the Minto Mine South Zone both laterally and at depth and the holes successfully intersected the structure. In addition to the Minto Mine South Zone, a new gold zone was also discovered in SD-17-85. With the current drilling, the Minto Mine South Zone is defined over an area of 300m x 300m.

Results for 11 boreholes in the Minto Mine South Zone are still pending. The zone remains open at depth and along strike (>1km) to the south. Ten (10) additional drill holes are currently planned to further define its strike length and depth and to further define the Minto E Zone.

Wawa Gold Project

The Wawa Gold property package consists of over 5,000 hectares and hosts several former mines with a combined historic production of 120,000 ounces ("oz") of gold ("Au"). To date, the largest gold deposit on the property is the Surluga deposit, which hosts a NI 43-101 Inferred Resource of 1,088,000oz Au at an average grade of 1.71 g/t using a 0.5 g/t cut-off contained within 19.82 million tonnes1,2.

Exploration work conducted by Red Pine during the past 12 months has involved the ongoing sampling of 42,000m of historic core that was never sampled by previous operators of the project (initiated in February 2016) and the completion in March 2017 of a 6,000m drill program (initiated in November 2016). This drill program was immediately followed by a new 20,000m drill program announced on May 17th, 2017.

The goal of these sampling and drill programs is to fill-in gaps within the resource estimate with the expectation that it will lead to the definition of additional gold resources. Our analysis of drill core to-date has included the identification of an association between gold intersections and discrete gold-bearing structures within the hanging wall and footwall of the resource. The definition of high-grade gold mineralization within the Jubilee Shear Zone has confirmed that the resource could extend at least 525m to the north.

The Company is well positioned to fund its share of the Wawa Gold exploration program following the completion of a brokered private placement for gross proceeds of approximately $6.5 million on February 24, 2017. As such, the sampling and drill programs are expected to continue throughout 2017 and will be followed by an update to the NI 43-101 resource estimate.

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 LLP. 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.

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