11:40:25 EST Fri 03 Dec 2021
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Red Pine Exploration Inc (3)
Symbol RPX
Shares Issued 95,919,397
Close 2021-11-25 C$ 0.57
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Red Pine hires Goldspot for AI examination of Wawa

2021-11-25 07:21 ET - News Release

Also News Release (C-SPOT) Goldspot Discoveries Corp

Mr. Quentin Yarie of Red Pine reports


Red Pine Exploration Inc. has engaged Goldspot Discoveries Corp. to apply its proprietary machine learning technology and greenfield geoscience expertise on the Wawa gold project. Goldspot Discoveries will bring its proven artificial intelligence expertise that has previously led to important mineral discoveries.

Goldspot is a technology company focused on developing artificial intelligence technologies for the mining and exploration sector. Goldspot is working with some of the leading exploration and mining names in the industry, applying their cutting-edge algorithms to significantly increase the efficiency and success rate of mineral exploration.

The company has an extensive land package that spans over 6,900 hectares in the Michipicoten greenstone belt and will focus Goldspot on areas with the least information so that it can efficiently plan exploration in these areas. There are several past-producing mines on the property that warrant further investigation and Goldspot's input will allow the company to expand exploration beyond its currently identified high-priority targets.

The airborne magnetic data are a good depiction of the complex geology of the Wawa gold corridor. The company's focus has been in areas like the historic Surluga and Minto mines where the preponderance of information was readily available. These areas represent just a small percentage of the property which comprises a large land package with numerous existing high-value gold targets.

With the use of Goldspot's technology and new data acquisition methods, the company will be able to refine its discovery process by leveraging sophisticated and cost-efficient targeting software to delineate drill-ready locations to prioritize, a complementary aspect to Red Pine's technical and geological team with a strong history of discovery success.

"We have excellent resources for Goldspot to target using their technology, including a full suite of geophysical, geochemical, geology 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 explored yet," said Quentin Yarie, chief executive officer and president of Red Pine Exploration. "With the recent success of the initial 2021 drilling program and the completion of the November flow-through financing for aggregate gross proceeds of $8.4-million, the company is working to expand upon the current [National Instrument] 43-101-compliant resource with 1,307,000 tonnes at 5.47 g/t gold for 230,000 ounces in the indicated category and 2,716,000 tonnes at 5.39 g/t gold for 471,000 ounces in the inferred category contained between surface to 350 metres depth."

Qualified person

Quentin Yarie, PGeo, chief executive officer of Red Pine and the qualified person, as defined by National Instrument 43-101, has reviewed and approved the news release's technical information.

COVID-19 precautions

Red Pine has developed and implemented compliant precautions and procedures according to guidelines from the Province of Ontario. Protocols were put in place to ensure the company's employees' and contractors' safety, thereby reducing the potential for community contact and spreading of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration is a gold exploration company headquartered in Toronto, Ont., Canada. The company's common shares trade on the TSX Venture Exchange under the symbol RPX.

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. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. The company's chairman of the board is Paul Martin, the former CEO of Detour Gold. The board has extensive and diverse experience at 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.

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