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Red Pine finishes drilling two holes at Wawa

2015-02-27 09:55 ET - News Release

Mr. Quentin Yarie reports

RED PINE EXPLORATION CONTINUES DRILLING ON THE WAWA GOLD PROJECT

Red Pine Exploration Inc. has now completed two exploration drill holes (SD-15-07 and SD-15-08) as part of its winter 2015 program, which is planned for eight to 15 drill holes totalling 2,000 to 4,000 metres on the Surluga gold deposit. The program's primary focus is to provide supporting results in order to both expand the grade and size of the resource and for infill drilling where there are gaps in the historic data which can then be used for the revised resource calculation. The company has now also completed an airborne multicomponent magnetic survey over the entire Wawa gold property.

Quartz veins and sericitized rocks have been intersected in both of the completed drill holes, which are consistent with the gold-bearing intersects encountered during the 2014 drill program. The intersections observed in these holes are as shown in the table.

                              OBSERVED INTERSECTIONS

Hole ID                      From         To      Length   Vertical depth to
                               (m)        (m)         (m)             top of
                                                                intersection
                                                                          (m)

SD-15-07                      218        264          46                 178
SD-15-08                      291        341          50                 252

True width has not been calculated for each individual intercept, but true 
width is generally estimated at 85 per cent to 95 per cent of drilled width.

SD-15-07 was designed to better define the ore shoot intersected in SD-14-06 based on the hypothesis that SD-14-06 intersected the outer margin of a high-grade ore zone. SD-15-08 was designed as a step-out hole to extend the gold mineralization intersected in SD-14-04 by approximately 66 metres to the east.

Gold in the form of flakes which are visible with the naked eye (VG (visible gold)) has been observed in both of these holes. All previous intersections with VG were associated with higher-grade gold mineralization as shown in the table.

                            PREVIOUS INTERSECTIONS                                                   

Hole ID                              From         To      Length        Gold 
                                       (m)        (m)         (m)       (g/t)                     

SD-14-04                           260.75     277.35        16.6       11.13
SD-14-05                              155      162.5        7.25       12.94
SD-14-06                            318.5      322.5           4       11.54

(i) True width has not been calculated for each individual intercept, but
true width is generally estimated at 75 per cent to 95 per cent of drilled 
width.

Although VG is considered positive, the company cautions it has not received assay results for these intersections at the time of this press release.

Quentin Yarie, president and chief operating officer, commented: "We continue to intersect prospective gold-bearing zones east of a north-south-trending 1.5-kilometre-long structure that is easily distinguished in our magnetic data. To date, gold mineralization projected to surface extends over 400 m east of the north-south structure. The mineralization remains open in all directions, but it is the eastern extensions of the Surluga gold deposit we believe hold the greatest promise for increasing size and grade."

Overview of completed drill holes

The deposit is primarily a north-south-trending shear along a strike length of approximately 1.5 kilometres.

A number of newly identified north-northeast-trending structural controls have been identified. These have proved important as they appear to control zones of higher-grade mineralization both in and above the shear. These structural events offer the opportunity to discover new zones of gold mineralization. The airborne survey will also provide valuable insights into identifying these events and will be utilized to assist in placing future drill holes.

Starting from the most northern drill hole collar (SD-14-05) and heading south over a distance of 1.5 km, the other drill hole collars are located approximately as follows.

  • SD-14-01 and 02 are 234 m southwest of SD 14-05.
  • SD-14-03 is 455 m southeast of SD-14-01 and 02.
  • SD-14-04 is 720 m southeast of SD-14-03.
  • SD-15-08 is 112 m southeast of SD-14-04 and is a step-out hole from SD14-04.
  • SD-15-07 is 1,100 m southwest of SD-15-08.
  • SD-14-06 is 1,255 m southwest of SD-15-07.

Administration

The company granted a total of 8,315,000 stock options to directors, officers and consultants of the company on Feb. 26, 2015, under the terms of the incentive stock option plan of the company filed with the TSX Venture Exchange and approved by shareholders at the last annual general meeting of shareholders of the company held on Jan. 27, 2015. All options are exercisable at a price of 10 cents per share for a period of five years and are subject to a four-month-and-one-day hold period from the date of issuance.

On-site quality assurance/quality control measures

Drill core samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Ancaster, Ont. Individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The remaining coarse reject portions of the samples remain in storage at the Activation Laboratories in Ancaster, Ont., as required in the event that further work or verification is needed.

Red Pine has implemented a quality control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks and duplicates.

Qualified person

Quentin Yarie, PGeo, is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release, and is responsible for overseeing all aspects of the company's exploration programs.

We seek Safe Harbor.

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