Red Pine Exploration Announces Results from Core Sampling Program at Wawa Gold Project

Red Pine Exploration Inc. has received results for 24 holes sampled as part of its sampling program of historic core at its Wawa Gold Project.

Highlights from the sampling program include so far

• An increase of the gold metal factor (gold grade times intersection length) for 16 of the 24 sampled holes; an average increase of the intersection length for 11 of the 24 holes;
• Discovery of a new gold zone in the hanging wall of the Jubilee Shear Zone
• Identification of a network of high-grade quartz veins in the footwall of the inferred resources with up to 20.9 g/t gold detected in a representative grab sample.

Quentin Yarie, President and Chief Executive Officer of Red Pine states "These assays results and generalized increase of the metal factor in the historic drill holes sampled to date demonstrate the potential upside this sampling program may have on the inferred resource. The identification of a network of high-grade quartz veins at surface, within 90 metres of the inferred resource and next to the main access road of the property, also shows the potential for new discoveries with additional exploration work, even into the most explored areas of the Wawa Gold Project.”

Sampling of historic core

Following its 2015 exploration programs, the Company speculated that some of the gold zones in the footwall and hanging wall of the Surluga Deposit were not entirely sampled in the past and that sampling gaps remained in some gold mineralized zones of the Surluga Deposit. Earlier this year, the Company undertook an aggressive selective sampling program of approximately 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) in the Wawa Gold Corridor to help fill these gaps. The work aimed to extend and define additional gold zones in the footwall and hanging wall of the Surluga

Deposit, and extend some gold zones of the Surluga Deposit that were not entirely sampled in the past.

Of the 24 holes sampled, 16 show an increase of their overall metal factor, 11 show an increase of the mineralised length and 6 show an increase of their total gold grade (Table 1). The sampled holes mostly cover the Jubilee Shear Zone, which already contain a NI 43-101 inferred resource of 1,088,000 ounces of gold1. However, some of the holes also cover the Minto B Shear Zone, located in the hanging wall of the Jubilee Shear Zone and not included in the inferred resource.

Table 1 - Results of 2016 Sampling Program of Historicl Drill Holes (Before and After Intersections with over 0.40 g/t Gold)

*True width has not been calculated for each individual intercept currently reported as drilled length.
**All grade values rounded to second decimal.

Other Activities at the Wawa Gold Project

Red Pine is currently trenching and mapping many key structures located in the hanging wall and footwall of the inferred resources and in the Jubilee Shear Zone. This has lead to the discovery of a quartz vein stockwork in the immediate footwall of the inferred resource. One representative grab samples of the quartz stockwork returned 20.9 g/t gold (Figure 1). The company is now conducting additional work to define the size and continuity of this network of quartz veins, located within 90 metres of the inferred resource of the Surluga Deposit.

Next Steps

As the Company looks to increase the property’s gold inventory, the current program of sampling historical core as well as trenching and mapping is uncovering new exploration targets for Red Pine’s future drill programs.

Forages Rouiller has been retained for the Company’s 2016 Fall Drill Program and mobilization is expected to begin within the next three weeks. The Company plans to drill more than 3,000 metres of NQ core to confirm the continuity of both the footwall and hanging wall mineralization to further increase the resource. Further details on the 2016 Fall Drill Program will be issued within the next two weeks.

Merger Update

Red Pine continues to advance merger discussions with both of its JV partners; Augustine Ventures Inc. and Citabar LLP. The Company acknowledges that the simplification of the ownership structure has taken longer than anticipated, but it feels confident that there are no outstanding issues that could derail the process. Red Pine thanks both its shareholders and Augustine shareholders for their continued support and patience as the negotiations continue to move forward.

On-site Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Timmins, Ontario. Individual samples are labeled, 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 Ltd. in Timmins, Ontario 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, P.Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical portions of this news release outside the scope of the Independent Technical Report and is responsible for overseeing all aspects of the company's exploration programs.