Red Pine completes drilling program at Wawa Project, Ontario

Red Pine Exploration Inc. [TSXV: RPX; OTCQB: RDEXF] has completed its 2024-2025 drilling program at the Wawa gold project, northern Ontario. The drilling program began in November 2024 and was completed at the end of June 2025. It consisted of 69 completed drill holes totalling 24,574.5 metres. Additional assays are pending.

The 2024-2025 drilling program achieved its two primary goals: Strengthen geological database to evaluate potential starter open pits in two near-surface areas of the Jubilee shear with 9,000 m of the 25,000-metre program of infill drill holes: 45.38 g/t gold over a 3.13-metre core length, including 141.00 g/t Au over 0.88 m; 1.86 g/t Au over 19.09 m, including 4.28 g/t Au over 4.88 m and 14.51 g/t Au over 4.81 m, including 90.40 g/t Au over 0.67 m.

Test the overall size potential of the gold system of the Wawa gold project beyond the 2024 mineral resource estimate with significant step-outs, over 600 metres, from known areas of mineralization: 5.68 g/t Au over 10.72 m, including 19.05 g/t Au over 2.00 m; 8.41 g/t Au over 1.67 m, including 14.9 g/t Au over 0.92 m. The newly discovered gold zone at depth that could extend over 940 m.

Preliminary economic assessment work has commenced on the Wawa gold project: An environmental and permitting consultant with over 25 years of experience has been engaged. Baseline studies, to support operational design and permitting, have commenced. As a result of the financing completed on July 9, 2025, Red Pine is fully financed to complete PEA in early first half 2026 and commence the baseline studies.

Michael Michaud, president and CEO, commented: “We are pleased with the completion of our planned 25,000-metre drilling program. It has not only significantly expanded the size potential of the Wawa gold deposit, but it has also better defined the near-surface mineralization, providing confidence for our review of the starter pit development scenario that is ongoing.

“This drilling is the first step in assessing the potential of a starter open-pit operation that would provide an incremental approach towards a larger open-pit or underground operation. We anticipate the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit.

“With the successful completion of the recent financing, we are now fully funded to complete the PEA and commence the baseline studies required for the permitting process.”

The company is working on technical and baseline studies to support operation design and permitting. This work includes metallurgical testing and geotechnical work, mine design work, and updating the 2024 mineral resource estimate, as well as studies covering surface water and groundwater, terrestrial and aquatic life, the geochemical characterization of the mineralization and waste rocks from the deposits. For guidance and advice during the permitting process, the company has retained an environmental and permitting consultant with over 25 years of experience in environmental assessments, permitting, compliance, training and education.

The Wawa gold project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the past five years.

The company’s land package hosts numerous historic gold mines and is over 7,000 hectares in size.