Latest news with #WawaGoldProject

Associated Press
20-05-2025
- Business
- Associated Press
Kinross Commences 8,000m Drilling Program on BTU's Dixie Halo Property Adjacent To Kinross' Great Bear Project
VANCOUVER, BC / ACCESS Newswire / May 20, 2025 / BTU METALS CORP. ('BTU' or the 'Company') (TSXV:BTU)(OTCQB:BTUMF) is pleased to announce that Kinross, pursuant to the option agreement between the parties, has just commenced a significant core drilling program on the Company's Dixie Halo property adjacent to Kinross's world class Great Bear gold deposit southeast of Red Lake, Ontario. The Company is also commencing work on its Hubcap property adjacent to the south boundary of the Red Pine Exploration Ltd. (Red Pine) Wawa Gold Project. Dixie Halo Project - Kinross Option The Company completed several drill campaigns on the Dixie Halo project over the time period Great Bear Resources Ltd. was successfully outlining extensive gold mineralization on its Dixie Project before Kinross acquired Great Bear Resources Ltd. for approximately C$1.8 billion (February 2022). Subsequently, the Company entered into an option agreement with Kinross in a transaction that closed in Q2 of 2023. Since then, Kinross has been evaluating all of the available data on the Company's Dixie Halo option property in preparation for follow-up drill testing target areas that may host gold mineralization. Part of that evaluation work involved re-logging of the drill core from the Company's drill programs on the Dixie Halo property in addition to a full re-interpretation of all available data. With all the pre-drill stage technical evaluation work now complete, Kinross has secured the required permits and has budgeted for an extensive drilling campaign on the Dixie Halo Option properties. The drill program just commenced and is planned to include approximately 8,000 metres on various target areas identified as priority locations for potential gold mineralization. Paul Wood, CEO, commented: 'We're excited that Kinross has completed their full evaluation of the historic work on the Dixie Halo project and are now embarking on their initial drilling of the resultant target areas. We hope they are successful in finding new areas of alteration and gold mineralization that will add to the already significant milestones they are achieving on the Great Bear project.' Mr. Wood went on to add: 'Additionally, based on the success of our recent work at Wawa the team is keen to reunite for a site visit next week to plan and commence follow up work.' In its Management Discussion and Analysis for the period ending March 31, 2025 Kinross disclosed the following regarding the Great Bear project updates and developments; 'Given Kinross has already drilled out a significant inventory in the Preliminary Economic Assessment providing an initial 12-year mine life, demonstrated continuation of mineralization beyond that, and the high cost of drilling at depth from surface, Kinross has shifted its focus from drilling the LP zone to regional exploration work. Kinross commenced regional exploration drilling in the first quarter of 2025 targeting both near-surface and underground targets delineated by lithostratigraphic models and geophysical surveys. The program is ongoing with more than 50,000 metres anticipated to be drilled by year-end.' Wawa Area Properties Update Figure 1: BTU Wawa Area Property Portfolio outlining Hubcap, Centennial, and Echum Projects Wawa Area Hubcap Project The Company is preparing to follow-up on areas of strong shearing, sulphide mineralization and quartz veining identified in the work programs completed late in 2024 on the northern part of the Hubcap project located immediately south of the Red Pine Wawa Project (Figure 1). Encouraging results and information from prospecting, geological mapping and a compilation of historic results has allowed the Company to plan and now prepare to execute additional work programs that will include geological mapping, prospecting, and geophysical surveying during the 2025 field season. The results released by neighboring Red Pine Exploration Inc. (a few hundred metres from the common boundary with Red Pine will be a priority area for initial prospecting in the early part of the program. On November 27, Red Pine released the results of 18 grab samples from the War Eagle area approximately 3km south-southeast of its 2024 Mineral Resource Estimate area that was released in a press release September 30, 2024. Results of the assays from the 18 samples ranged from 0.72 g/t gold to 17.10 g/t with the overall trend of the shears and mineralization indicated to be south-southwest toward the common boundary with the Company approximately 750 metres farther southwest. Late in the field season last year, prospecting samples were collected near the common boundary on the Company's side of the boundary from scattered surface exposures of sheared, quartz veined, and carbonate altered outcrop that included disseminated pyrite. Assay values received ranged from trace to 6.13 g/t gold** from mineralized quartz veining and sheared wall rock as shown on Figure 2. A map with an overview of all Fall 2024 surface sampling results above 0.5 g/t Au is available in Figure 3. Figure 2: Strongly altered, sheared, and mineralized volcanics with quartz veining in area of recent surface sampling results. Figure 3: Hubcap Fall 2024 Surface Sampling Results Above 0.5 g/t Au. Wawa Area Echum Project The Company completed an initial six drill hole program on the 100% owned 14,262-hectare Echum Project in Wawa, Ontario. The project is an extensive gold-silver-critical minerals prospect located adjacent to Alamos Gold Inc. ('Alamos') (AGI-TSX) property that hosts the Island gold mine and the Magino gold mine. Interpretation of the available geology and geophysical data indicate the overall stratigraphic sequence on the Alamos ground extends southerly to southeasterly onto the Company's Echum property. Historic work on the Echum property has indicated the presence of both gold and base metal occurrences at several locations and much of the property is overburden covered or has been rather inaccessible due to a lack of road access. Initial drilling focused on testing anomalies and targets identified in data collected in the 2021 Versatile Time Domain Electromagnetic (VTEM) and 2023-2024 Induced Polarization (IP) surveys. These anomalies have had scarce, if any historic drill testing. The Company wishes to thank the Government of Ontario and the Ontario Junior Exploration Program (OJEP) for funding in support of advancing the Echum Project. Drill holes were designed to test a number of separate anomalous chargeability features in areas where little geological information existed. Drill core logging revealed some low copper and zinc values as well as the occurrence of significant mineralized quartz veining (with sulphides such as pyrite, chalcopyrite, sphalerite) generally associated with moderate to strong shearing, which may indicate the presence of regional scale deformation zones. No significant gold values were found in the core samples analyzed. Drilling to date at the Echum Project intersected anomalous near-surface copper and zinc mineralization and confirmed strong correlation with VTEM and IP anomalies. Notably, some features of the wide mineralized zone appear visually similar to gold systems elsewhere in the Wawa gold district, such as Alamos' Island Gold Mine, suggesting potential for the discovery of gold mineralization on the property in new locations as well as in the area known as the Ballard Lake gold occurrences, an area explored historically. The Company has yet to compile and carry out work in this area. The six holes drilled in late 2024 and early 2025 tested only to a maximum depth of 200m, and totaled only 807 metres. Ongoing interpretation of the complex structures intersected will enhance the understanding of the Echum Project, where multiple additional targets remain to be tested. Sample Preparation & Analysis All drill holes were logged, sampled, photographed, and cut at a secure logging facility in Shining Tree, Ontario. All samples were cut using a Vancon core saw, and the top half was collected and placed in sample bags secured with zip ties with unique sample IDs. The samples were delivered to AGAT Laboratories facility in Sudbury, Ontario, and were prepared and analyzed in Thunder Bay, Ontario and Calgary, Alberta. A description of the sample preparation and analysis methods are listed below: The following QAQC procedures were used: The Company also announces it has set 4,300,000 options to directors, officers and consultants at $0.05 for a period of two years in accordance with the Company's stock option plan. Qualified Person Bruce Durham, P. Geo., VP Exploration of the Company is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this press release. About BTU BTU Metals Corp. is a junior mining exploration company looking to acquire high quality exploration projects to add to its portfolio for the benefit of its stakeholders. The Company's main assets are the Dixie Halo Project located in Red Lake, Ontario (optioned to Kinross) immediately adjacent to the Kinross Great Bear Project and its gold and critical minerals properties in the active Wawa gold district. The Company has no debt and minimal property obligations. ON BEHALF OF THE BOARD 'Paul Wood' Paul Wood, CEO, Director [email protected] BTU Metals Corp. Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770 Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: risks relating to the global economic climate; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. The Company has also assumed that no significant events occur outside of the normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. SOURCE: BTU Metals Corp. press release
Yahoo
12-05-2025
- Business
- Yahoo
Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee Shear
Initial near-surface drilling intersects wide zone of alteration containing 14.51 g/t Au over 4.81 m including 90.40 g/t Au over 0.67 m TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ('Red Pine' or the 'Company') is pleased to announce initial results of its near-surface drilling program focused on evaluating the potential of an open pit operation in two areas of the Jubilee Shear (See press release announced May 8, 2025). This drilling is a portion of the ongoing, fully funded 25,000 metres ("m") drill program at the Wawa Gold Project, Ontario. Highlights Near-surface intersection of 14.51 grams per tonne ("g/t") gold ("Au") over 4.81 m, including 90.40 g/t Au over 0.67 m, at the edge of the 2024 Mineral Resource Estimate1 (the '2024 MRE') within an area for consideration for a potential open-pit operation; More than 14 drill holes are ongoing in the shallow part of the Jubilee Shear with results pending; Several high-grade gold intersections > 5.00 g/t Au at depth in the Jubilee Shear located hundreds of meters away from the 2024 MRE, are indicative of the potential for future growth to the mineral resource. Drilling at depth continues to identify key geological vectors towards potential zones of strong gold mineralization in the Jubilee Shear: Includes the identification of a new gabbro dyke interpreted to represent a key geological control on the Jubilee Shear at depths similar to the gabbro dykes controlling the distribution of gold mineralization near surface; and Outlines new exploration targets at depths in the Jubilee Shear in the Cooper Mine area. The focus of the drilling is to build out the near surface resource to complete an updated MRE and a Preliminary Economic Assessment by H1 2026. Michael Michaud, President and CEO of Red Pine commented: 'We are excited that our initial near-surface drilling has already intersected wide zones of alteration, quartz veining and significant gold grades. This drilling is designed to not only improve our confidence in the gold distribution, but also to expand gold mineralization in this relatively underexplored area. This drilling is the first step in assessing the potential of a near-term open pit operation that would provide an incremental approach to move towards a larger operation to mine the existing open-pit and underground mineral resource base outlined in the 2024 MRE. We are also pleased with the positive results from deeper drilling as we continue to gain more knowledge on the geology and the potential to intersect gold mineralization in large step-outs from the 2024 MRE. Of importance, we have now intersected a gabbro unit at depth that is known to be a critical control on mineralization as identified closer to surface where we have already defined a large open-pit and underground resource. The Company intends to update the 2024 MRE with the completion of the drilling program, with the objective to concurrently work towards a preliminary economic assessment ('PEA'), anticipated for completion in H1 2026." 1The MRE is described in the National Instrument 43-101 Technical Report dated September 30, 2024 (with a mineral resource effective date of August 28, 2024) entitled 'National Instrument 43-101 Technical Report for the Wawa Gold Project' (the ''). Ongoing Drilling Program Red Pine is currently drilling with 2 rigs and completed approximately 65% of the fully funded 25,000 m exploration program. The ongoing drilling at depth continues to intersect gold mineralization with large step outs designed to expand the mineral resource base. In parallel, near-surface testing of the Jubilee Shear has started in two areas identified as having high potential for open-pits within the near-surface portion of the 2024 MRE. The near-surface drilling program consists of closely spaced drill holes aiming to increase confidence in the 2024 MRE and extend gold mineralization within the crown pillar of the former Surluga and Jubilee mines where historic drilling was limited. Between 8,000 and 9,000 m of drilling is allocated to evaluate the two areas and is expected to take 3 months to complete. Near-Surface Drill Testing of the Jubilee Shear for Potential Open-Pit Operation (Tables 1 and 2 and Figures 1 to 3): In addition to the strong results obtained in SD-25-552, previous drilling supports the potential of the areas considered for potential open-pits (Figure 1). Significant historical results included in the 2024 MRE in each area include: Northern Area 4.40 g/t Au over 9.61 m, including 38.74 g/t Au over 0.77 m and 28.80 g/t Au over 0.31 m in historical drill hole S073 13.24 g/t Au over 4.69 m, including 18.64 g/t Au over 3.17 m in historical drill hole S063 Jubilee Mine Area 4.42 g/t Au over 18.99 m, including 40.20 g/t Au over 1.00 m in SD-17-172 9.62 g/t Au over 14.93 m, including 12.47 g/t Au over 1.83 m, 24.14 g/t Au over 0.91 m and 81.12 g/t Au over 0.91 m in historical drill hole S240 Jubilee Deep Drilling (Tables 1 and 2 and Figure 2): Deep drilling in the Jubilee Shear that consists of large step-outs from the 2024 MRE, continues to uncover indications of high-grade gold mineralization at depth and is vectoring towards new zones of high-grade gold mineralization. Additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear. Key highlights of the deep drilling in the Jubilee Shear include: Multiple intersections greater than 5.00 g/t Au indicating that mineralization extends beyond the 2024 MRE (including the drilling results announced on February 19 and March 20, 2025): Additional drilling will be necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear. Identification of a new gabbro dyke at depth west of the Jubilee Shear in relation to the roll discussed in the February 19 and March 20, 2025 press releases: Wide gabbro intersections in SD-25-536 and SD-540 below the Main Deformation Zone of the Jubilee Shear interpreted to represent a new gabbro dyke In the shallower parts of the Jubilee Deposit, the main zones of mineralization forming the 2024 MRE are distributed above and below such gabbro dyke Gabbro dykes are a key geological control on the location of rolls which are areas where the dip of the shear zone changes that can correspond to zones of thickening of mineralization in the shears of the Wawa Gold Project Mineralogical transition from white-mica dominated to chloritized-biotite alteration haloes around the strongly deformed veins in the Jubilee Shear. In other deposits of the Michipicoten Greenstone Belt, that mineralogical transition is an indicator that the gold system is changing and that this can result in positive changes in the nature of the gold mineralization zones. Table 1 Drilling results from the 2024-2025 drilling program Hole(#) From(m) To(m) Length(m)* Gold(g/t) Zone(name) SD-25-533 658.88 659.68 0.80 2.24 Jubilee Shear - Main 672.00 673.09 1.09 5.01 SD-25-535 211.46 213.00 1.54 7.23 Vein Network SD-25-536A 968.00 969.06 1.06 2.56 Jubilee Shear - Main SD-25-538 741.00 742.00 1.00 5.32 Jubilee Shear - Upper 788.32 798.31 9.99 1.95 Jubilee Shear - Main including 795.20 796.40 1.20 8.50 SD-25-539 93.80 95.56 1.76 3.00 Mickelson Vein Network 480.34 483.61 3.27 2.92 Jubilee Shear - Main Including 481.43 483.61 2.18 4.12 643.50 644.78 1.28 3.96 SD-25-552 64.64 69.45 4.81 14.51 Jubilee Shear - Main Including 65.75 66.42 0.67 90.40 67.27 68.12 0.85 7.93 *Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6.0 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 70 to 95% of the reported core length in the Jubilee and undefined in the vein networks. The reported assay results represent 4,614.23 m of assayed core from the 2025 drilling program in the extension at depth of the Jubilee Shear and 16.88 m from near-surface drilling in the Northern Area for consideration for Phase 1 open-pits. Quality Assurance/Quality Control ("QA/QC") Measures Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed. As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing. Table 2 – Drill hole location Hole(#) UTM E(m) UTM N(m) Elevation(masl) Azimuth(°) Inclination (°) Length(m) Assays Status Area SD-25-533 668713 5314807 346.0 303.0 60.1 873.0 Complete Jubilee Deep SD-25-534A 668713 5314807 346.0 303.0 60.1 1116.0 Complete Jubilee Deep SD-25-535 668859 5315950 370.5 267.0 70.0 841.0 Complete Jubilee Deep SD-25-536A 668713 5314807 346.0 300.0 66.0 1149.0 Complete Jubilee Deep SD-25-537 668859 5315950 370.5 300.0 65.3 785.0 Complete Jubilee Deep SD-25-538 668708 5315808 370.0 218.0 73.1 858.0 Complete Jubilee Deep SD-25-539 668582 5315801 368.5 323.0 70.9 696.0 Complete Jubilee Deep SD-25-540 668922 5315725 353.3 240.0 70.4 1002.0 Pending Jubilee Deep SD-25-541 668219 5317008 359.6 295.0 45.2 390.0 Pending Northern area SD-25-542 668258 5317118 364.0 295.0 45.2 399.0 Pending Northern area SD-25-543 668283 5317185 359.3 302.0 45.0 57.0 Pending Northern area SD-25-544 668267 5317163 362.0 302.0 45.0 162.0 Pending Northern area SD-25-545 668562 5315305 370.8 283.0 83.2 1033.0 Pending Jubilee Deep SD-25-546 668233 5317053 363.9 295.0 49.2 150.0 Pending Northern area SD-25-547 668289 5317260 346.6 290.0 47.3 126.0 Pending Northern area SD-25-548 668328 5317385 371.3 290.0 45.2 264.0 Pending Northern area SD-25-549 668363 5317459 375.1 290.0 45.0 135.0 Pending Northern area SD-25-550 668362 5317460 375.3 290.0 45.0 135.0 Pending Northern area SD-25-551 668362 5317460 375.3 290.0 89.1 132.0 Pending Northern area SD-25-552 668331 5317415 373.8 290.0 45.2 135.0 Partial Northern area SD-25-553 668331 5317415 373.8 290.0 70.1 141.0 Pending Northern area SD-25-554 668331 5317415 373.8 110.0 85.0 132.0 Pending Northern area SD-25-555 668344 5317441 374.9 290.0 45.0 148.0 Pending Northern area Qualified Person Jean-Francois Montreuil, and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol 'RDEXF'. 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. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the potential of developing an early stage open-pit operation; the potential of further growth to the 2024 MRE; the Company updating the 2024 MRE and completing a PEA in H1 2026; drilling allocated to evaluating two areas for a potential open-pit operation taking 3 months to complete; additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear; additional drilling being necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear; and that alteration related to gold mineralization in the new shoot appears to transition from white mica-dominated to chloritized biotite-dominated which is often associated with higher grades. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance. This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024 and January 31, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Figure 1 - 3D view showing conceptual pits, select previous drilling and existing underground 2 - Longitudinal view of Jubilee Shear showing the interpreted steeper plunging zones of overlying quartz veins that have enriched the shallow, south plunging shoot / gabbro. The intersected gabbro at depth is interpreted to be similar to the gabbro closer to surface that provides control on the gold 3 – A and B) Photographs of SD-25-552 showing the zone of strong alteration, quartz veining and mineralization in the Jubilee Shear with B) a close view of the high-grade quartz vein. C) Variably sheared and veined gabbro dyke identified at depth below the Jubilee Shear in SD-25-540. The core pictures are from NQ-sized drill core with a diameter of 47.6 mmPhotos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Globe and Mail
12-05-2025
- Business
- Globe and Mail
Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee Shear
TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (' Red Pine ' or the ' Company ') is pleased to announce initial results of its near-surface drilling program focused on evaluating the potential of an open pit operation in two areas of the Jubilee Shear (See press release announced May 8, 2025). This drilling is a portion of the ongoing, fully funded 25,000 metres ("m") drill program at the Wawa Gold Project, Ontario. Highlights Near-surface intersection of 14.51 grams per tonne ("g/t") gold ("Au") over 4.81 m, including 90.40 g/t Au over 0.67 m, at the edge of the 2024 Mineral Resource Estimate 1 (the ' 2024 MRE ') within an area for consideration for a potential open-pit operation; More than 14 drill holes are ongoing in the shallow part of the Jubilee Shear with results pending; Several high-grade gold intersections > 5.00 g/t Au at depth in the Jubilee Shear located hundreds of meters away from the 2024 MRE, are indicative of the potential for future growth to the mineral resource. Drilling at depth continues to identify key geological vectors towards potential zones of strong gold mineralization in the Jubilee Shear: Includes the identification of a new gabbro dyke interpreted to represent a key geological control on the Jubilee Shear at depths similar to the gabbro dykes controlling the distribution of gold mineralization near surface; and Outlines new exploration targets at depths in the Jubilee Shear in the Cooper Mine area. The focus of the drilling is to build out the near surface resource to complete an updated MRE and a Preliminary Economic Assessment by H1 2026. Michael Michaud, President and CEO of Red Pine commented: 'We are excited that our initial near-surface drilling has already intersected wide zones of alteration, quartz veining and significant gold grades. This drilling is designed to not only improve our confidence in the gold distribution, but also to expand gold mineralization in this relatively underexplored area. This drilling is the first step in assessing the potential of a near-term open pit operation that would provide an incremental approach to move towards a larger operation to mine the existing open-pit and underground mineral resource base outlined in the 2024 MRE. We are also pleased with the positive results from deeper drilling as we continue to gain more knowledge on the geology and the potential to intersect gold mineralization in large step-outs from the 2024 MRE. Of importance, we have now intersected a gabbro unit at depth that is known to be a critical control on mineralization as identified closer to surface where we have already defined a large open-pit and underground resource. The Company intends to update the 2024 MRE with the completion of the drilling program, with the objective to concurrently work towards a preliminary economic assessment ('PEA'), anticipated for completion in H1 2026." 1 The MRE is described in the National Instrument 43-101 Technical Report dated September 30, 2024 (with a mineral resource effective date of August 28, 2024) entitled 'National Instrument 43-101 Technical Report for the Wawa Gold Project' (the ' 2024 Technical Report '). Ongoing Drilling Program Red Pine is currently drilling with 2 rigs and completed approximately 65% of the fully funded 25,000 m exploration program. The ongoing drilling at depth continues to intersect gold mineralization with large step outs designed to expand the mineral resource base. In parallel, near-surface testing of the Jubilee Shear has started in two areas identified as having high potential for open-pits within the near-surface portion of the 2024 MRE. The near-surface drilling program consists of closely spaced drill holes aiming to increase confidence in the 2024 MRE and extend gold mineralization within the crown pillar of the former Surluga and Jubilee mines where historic drilling was limited. Between 8,000 and 9,000 m of drilling is allocated to evaluate the two areas and is expected to take 3 months to complete. Near-Surface Drill Testing of the Jubilee Shear for Potential Open-Pit Operation (Tables 1 and 2 and Figures 1 to 3): In addition to the strong results obtained in SD-25-552, previous drilling supports the potential of the areas considered for potential open-pits (Figure 1). Significant historical results included in the 2024 MRE in each area include: Northern Area 4.40 g/t Au over 9.61 m, including 38.74 g/t Au over 0.77 m and 28.80 g/t Au over 0.31 m in historical drill hole S073 13.24 g/t Au over 4.69 m, including 18.64 g/t Au over 3.17 m in historical drill hole S063 Jubilee Mine Area 4.42 g/t Au over 18.99 m, including 40.20 g/t Au over 1.00 m in SD-17-172 9.62 g/t Au over 14.93 m, including 12.47 g/t Au over 1.83 m, 24.14 g/t Au over 0.91 m and 81.12 g/t Au over 0.91 m in historical drill hole S240 Jubilee Deep Drilling (Tables 1 and 2 and Figure 2): Deep drilling in the Jubilee Shear that consists of large step-outs from the 2024 MRE, continues to uncover indications of high-grade gold mineralization at depth and is vectoring towards new zones of high-grade gold mineralization. Additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear. Key highlights of the deep drilling in the Jubilee Shear include: Multiple intersections greater than 5.00 g/t Au indicating that mineralization extends beyond the 2024 MRE (including the drilling results announced on February 19 and March 20, 2025): Additional drilling will be necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear. Identification of a new gabbro dyke at depth west of the Jubilee Shear in relation to the roll discussed in the February 19 and March 20, 2025 press releases: Wide gabbro intersections in SD-25-536 and SD-540 below the Main Deformation Zone of the Jubilee Shear interpreted to represent a new gabbro dyke In the shallower parts of the Jubilee Deposit, the main zones of mineralization forming the 2024 MRE are distributed above and below such gabbro dyke Gabbro dykes are a key geological control on the location of rolls which are areas where the dip of the shear zone changes that can correspond to zones of thickening of mineralization in the shears of the Wawa Gold Project Mineralogical transition from white-mica dominated to chloritized-biotite alteration haloes around the strongly deformed veins in the Jubilee Shear. In other deposits of the Michipicoten Greenstone Belt, that mineralogical transition is an indicator that the gold system is changing and that this can result in positive changes in the nature of the gold mineralization zones. Table 1 Drilling results from the 2024-2025 drilling program Hole (#) From (m) To (m) Length (m)* Gold (g/t) Zone (name) SD-25-533 658.88 659.68 0.80 2.24 Jubilee Shear - Main 672.00 673.09 1.09 5.01 SD-25-535 211.46 213.00 1.54 7.23 Vein Network SD-25-536A 968.00 969.06 1.06 2.56 Jubilee Shear - Main SD-25-538 741.00 742.00 1.00 5.32 Jubilee Shear - Upper 788.32 798.31 9.99 1.95 Jubilee Shear - Main including 795.20 796.40 1.20 8.50 SD-25-539 93.80 95.56 1.76 3.00 Mickelson Vein Network 480.34 483.61 3.27 2.92 Jubilee Shear - Main Including 481.43 483.61 2.18 4.12 643.50 644.78 1.28 3.96 SD-25-552 64.64 69.45 4.81 14.51 Jubilee Shear - Main Including 65.75 66.42 0.67 90.40 67.27 68.12 0.85 7.93 *Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6.0 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 70 to 95% of the reported core length in the Jubilee and undefined in the vein networks. The reported assay results represent 4,614.23 m of assayed core from the 2025 drilling program in the extension at depth of the Jubilee Shear and 16.88 m from near-surface drilling in the Northern Area for consideration for Phase 1 open-pits. Quality Assurance/Quality Control ("QA/QC") Measures Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed. As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing. Table 2 – Drill hole location Hole (#) UTM E (m) UTM N (m) Elevation (masl) Azimuth (°) Inclination (°) Length (m) Assays Status Area SD-25-533 668713 5314807 346.0 303.0 60.1 873.0 Complete Jubilee Deep SD-25-534A 668713 5314807 346.0 303.0 60.1 1116.0 Complete Jubilee Deep SD-25-535 668859 5315950 370.5 267.0 70.0 841.0 Complete Jubilee Deep SD-25-536A 668713 5314807 346.0 300.0 66.0 1149.0 Complete Jubilee Deep SD-25-537 668859 5315950 370.5 300.0 65.3 785.0 Complete Jubilee Deep SD-25-538 668708 5315808 370.0 218.0 73.1 858.0 Complete Jubilee Deep SD-25-539 668582 5315801 368.5 323.0 70.9 696.0 Complete Jubilee Deep SD-25-540 668922 5315725 353.3 240.0 70.4 1002.0 Pending Jubilee Deep SD-25-541 668219 5317008 359.6 295.0 45.2 390.0 Pending Northern area SD-25-542 668258 5317118 364.0 295.0 45.2 399.0 Pending Northern area SD-25-543 668283 5317185 359.3 302.0 45.0 57.0 Pending Northern area SD-25-544 668267 5317163 362.0 302.0 45.0 162.0 Pending Northern area SD-25-545 668562 5315305 370.8 283.0 83.2 1033.0 Pending Jubilee Deep SD-25-546 668233 5317053 363.9 295.0 49.2 150.0 Pending Northern area SD-25-547 668289 5317260 346.6 290.0 47.3 126.0 Pending Northern area SD-25-548 668328 5317385 371.3 290.0 45.2 264.0 Pending Northern area SD-25-549 668363 5317459 375.1 290.0 45.0 135.0 Pending Northern area SD-25-550 668362 5317460 375.3 290.0 45.0 135.0 Pending Northern area SD-25-551 668362 5317460 375.3 290.0 89.1 132.0 Pending Northern area SD-25-552 668331 5317415 373.8 290.0 45.2 135.0 Partial Northern area SD-25-553 668331 5317415 373.8 290.0 70.1 141.0 Pending Northern area SD-25-554 668331 5317415 373.8 110.0 85.0 132.0 Pending Northern area SD-25-555 668344 5317441 374.9 290.0 45.0 148.0 Pending Northern area Qualified Person Jean-Francois Montreuil, and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol 'RDEXF'. 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. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the potential of developing an early stage open-pit operation; the potential of further growth to the 2024 MRE; the Company updating the 2024 MRE and completing a PEA in H1 2026; drilling allocated to evaluating two areas for a potential open-pit operation taking 3 months to complete; additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear; additional drilling being necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear; and that alteration related to gold mineralization in the new shoot appears to transition from white mica-dominated to chloritized biotite-dominated which is often associated with higher grades. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance. This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024 and January 31, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Figure 1 - 3D view showing conceptual pits, select previous drilling and existing underground workings. Figure 2 - Longitudinal view of Jubilee Shear showing the interpreted steeper plunging zones of overlying quartz veins that have enriched the shallow, south plunging shoot / gabbro. The intersected gabbro at depth is interpreted to be similar to the gabbro closer to surface that provides control on the gold mineralization. Figure 3 – A and B) Photographs of SD-25-552 showing the zone of strong alteration, quartz veining and mineralization in the Jubilee Shear with B) a close view of the high-grade quartz vein. C) Variably sheared and veined gabbro dyke identified at depth below the Jubilee Shear in SD-25-540. The core pictures are from NQ-sized drill core with a diameter of 47.6 mm Photos accompanying this announcement are available at:
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12-05-2025
- Business
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Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee Shear
Initial near-surface drilling intersects wide zone of alteration containing 14.51 g/t Au over 4.81 m including 90.40 g/t Au over 0.67 m TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ('Red Pine' or the 'Company') is pleased to announce initial results of its near-surface drilling program focused on evaluating the potential of an open pit operation in two areas of the Jubilee Shear (See press release announced May 8, 2025). This drilling is a portion of the ongoing, fully funded 25,000 metres ("m") drill program at the Wawa Gold Project, Ontario. Highlights Near-surface intersection of 14.51 grams per tonne ("g/t") gold ("Au") over 4.81 m, including 90.40 g/t Au over 0.67 m, at the edge of the 2024 Mineral Resource Estimate1 (the '2024 MRE') within an area for consideration for a potential open-pit operation; More than 14 drill holes are ongoing in the shallow part of the Jubilee Shear with results pending; Several high-grade gold intersections > 5.00 g/t Au at depth in the Jubilee Shear located hundreds of meters away from the 2024 MRE, are indicative of the potential for future growth to the mineral resource. Drilling at depth continues to identify key geological vectors towards potential zones of strong gold mineralization in the Jubilee Shear: Includes the identification of a new gabbro dyke interpreted to represent a key geological control on the Jubilee Shear at depths similar to the gabbro dykes controlling the distribution of gold mineralization near surface; and Outlines new exploration targets at depths in the Jubilee Shear in the Cooper Mine area. The focus of the drilling is to build out the near surface resource to complete an updated MRE and a Preliminary Economic Assessment by H1 2026. Michael Michaud, President and CEO of Red Pine commented: 'We are excited that our initial near-surface drilling has already intersected wide zones of alteration, quartz veining and significant gold grades. This drilling is designed to not only improve our confidence in the gold distribution, but also to expand gold mineralization in this relatively underexplored area. This drilling is the first step in assessing the potential of a near-term open pit operation that would provide an incremental approach to move towards a larger operation to mine the existing open-pit and underground mineral resource base outlined in the 2024 MRE. We are also pleased with the positive results from deeper drilling as we continue to gain more knowledge on the geology and the potential to intersect gold mineralization in large step-outs from the 2024 MRE. Of importance, we have now intersected a gabbro unit at depth that is known to be a critical control on mineralization as identified closer to surface where we have already defined a large open-pit and underground resource. The Company intends to update the 2024 MRE with the completion of the drilling program, with the objective to concurrently work towards a preliminary economic assessment ('PEA'), anticipated for completion in H1 2026." 1The MRE is described in the National Instrument 43-101 Technical Report dated September 30, 2024 (with a mineral resource effective date of August 28, 2024) entitled 'National Instrument 43-101 Technical Report for the Wawa Gold Project' (the ''). Ongoing Drilling Program Red Pine is currently drilling with 2 rigs and completed approximately 65% of the fully funded 25,000 m exploration program. The ongoing drilling at depth continues to intersect gold mineralization with large step outs designed to expand the mineral resource base. In parallel, near-surface testing of the Jubilee Shear has started in two areas identified as having high potential for open-pits within the near-surface portion of the 2024 MRE. The near-surface drilling program consists of closely spaced drill holes aiming to increase confidence in the 2024 MRE and extend gold mineralization within the crown pillar of the former Surluga and Jubilee mines where historic drilling was limited. Between 8,000 and 9,000 m of drilling is allocated to evaluate the two areas and is expected to take 3 months to complete. Near-Surface Drill Testing of the Jubilee Shear for Potential Open-Pit Operation (Tables 1 and 2 and Figures 1 to 3): In addition to the strong results obtained in SD-25-552, previous drilling supports the potential of the areas considered for potential open-pits (Figure 1). Significant historical results included in the 2024 MRE in each area include: Northern Area 4.40 g/t Au over 9.61 m, including 38.74 g/t Au over 0.77 m and 28.80 g/t Au over 0.31 m in historical drill hole S073 13.24 g/t Au over 4.69 m, including 18.64 g/t Au over 3.17 m in historical drill hole S063 Jubilee Mine Area 4.42 g/t Au over 18.99 m, including 40.20 g/t Au over 1.00 m in SD-17-172 9.62 g/t Au over 14.93 m, including 12.47 g/t Au over 1.83 m, 24.14 g/t Au over 0.91 m and 81.12 g/t Au over 0.91 m in historical drill hole S240 Jubilee Deep Drilling (Tables 1 and 2 and Figure 2): Deep drilling in the Jubilee Shear that consists of large step-outs from the 2024 MRE, continues to uncover indications of high-grade gold mineralization at depth and is vectoring towards new zones of high-grade gold mineralization. Additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear. Key highlights of the deep drilling in the Jubilee Shear include: Multiple intersections greater than 5.00 g/t Au indicating that mineralization extends beyond the 2024 MRE (including the drilling results announced on February 19 and March 20, 2025): Additional drilling will be necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear. Identification of a new gabbro dyke at depth west of the Jubilee Shear in relation to the roll discussed in the February 19 and March 20, 2025 press releases: Wide gabbro intersections in SD-25-536 and SD-540 below the Main Deformation Zone of the Jubilee Shear interpreted to represent a new gabbro dyke In the shallower parts of the Jubilee Deposit, the main zones of mineralization forming the 2024 MRE are distributed above and below such gabbro dyke Gabbro dykes are a key geological control on the location of rolls which are areas where the dip of the shear zone changes that can correspond to zones of thickening of mineralization in the shears of the Wawa Gold Project Mineralogical transition from white-mica dominated to chloritized-biotite alteration haloes around the strongly deformed veins in the Jubilee Shear. In other deposits of the Michipicoten Greenstone Belt, that mineralogical transition is an indicator that the gold system is changing and that this can result in positive changes in the nature of the gold mineralization zones. Table 1 Drilling results from the 2024-2025 drilling program Hole(#) From(m) To(m) Length(m)* Gold(g/t) Zone(name) SD-25-533 658.88 659.68 0.80 2.24 Jubilee Shear - Main 672.00 673.09 1.09 5.01 SD-25-535 211.46 213.00 1.54 7.23 Vein Network SD-25-536A 968.00 969.06 1.06 2.56 Jubilee Shear - Main SD-25-538 741.00 742.00 1.00 5.32 Jubilee Shear - Upper 788.32 798.31 9.99 1.95 Jubilee Shear - Main including 795.20 796.40 1.20 8.50 SD-25-539 93.80 95.56 1.76 3.00 Mickelson Vein Network 480.34 483.61 3.27 2.92 Jubilee Shear - Main Including 481.43 483.61 2.18 4.12 643.50 644.78 1.28 3.96 SD-25-552 64.64 69.45 4.81 14.51 Jubilee Shear - Main Including 65.75 66.42 0.67 90.40 67.27 68.12 0.85 7.93 *Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6.0 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 70 to 95% of the reported core length in the Jubilee and undefined in the vein networks. The reported assay results represent 4,614.23 m of assayed core from the 2025 drilling program in the extension at depth of the Jubilee Shear and 16.88 m from near-surface drilling in the Northern Area for consideration for Phase 1 open-pits. Quality Assurance/Quality Control ("QA/QC") Measures Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed. As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing. Table 2 – Drill hole location Hole(#) UTM E(m) UTM N(m) Elevation(masl) Azimuth(°) Inclination (°) Length(m) Assays Status Area SD-25-533 668713 5314807 346.0 303.0 60.1 873.0 Complete Jubilee Deep SD-25-534A 668713 5314807 346.0 303.0 60.1 1116.0 Complete Jubilee Deep SD-25-535 668859 5315950 370.5 267.0 70.0 841.0 Complete Jubilee Deep SD-25-536A 668713 5314807 346.0 300.0 66.0 1149.0 Complete Jubilee Deep SD-25-537 668859 5315950 370.5 300.0 65.3 785.0 Complete Jubilee Deep SD-25-538 668708 5315808 370.0 218.0 73.1 858.0 Complete Jubilee Deep SD-25-539 668582 5315801 368.5 323.0 70.9 696.0 Complete Jubilee Deep SD-25-540 668922 5315725 353.3 240.0 70.4 1002.0 Pending Jubilee Deep SD-25-541 668219 5317008 359.6 295.0 45.2 390.0 Pending Northern area SD-25-542 668258 5317118 364.0 295.0 45.2 399.0 Pending Northern area SD-25-543 668283 5317185 359.3 302.0 45.0 57.0 Pending Northern area SD-25-544 668267 5317163 362.0 302.0 45.0 162.0 Pending Northern area SD-25-545 668562 5315305 370.8 283.0 83.2 1033.0 Pending Jubilee Deep SD-25-546 668233 5317053 363.9 295.0 49.2 150.0 Pending Northern area SD-25-547 668289 5317260 346.6 290.0 47.3 126.0 Pending Northern area SD-25-548 668328 5317385 371.3 290.0 45.2 264.0 Pending Northern area SD-25-549 668363 5317459 375.1 290.0 45.0 135.0 Pending Northern area SD-25-550 668362 5317460 375.3 290.0 45.0 135.0 Pending Northern area SD-25-551 668362 5317460 375.3 290.0 89.1 132.0 Pending Northern area SD-25-552 668331 5317415 373.8 290.0 45.2 135.0 Partial Northern area SD-25-553 668331 5317415 373.8 290.0 70.1 141.0 Pending Northern area SD-25-554 668331 5317415 373.8 110.0 85.0 132.0 Pending Northern area SD-25-555 668344 5317441 374.9 290.0 45.0 148.0 Pending Northern area Qualified Person Jean-Francois Montreuil, and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol 'RDEXF'. 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. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the potential of developing an early stage open-pit operation; the potential of further growth to the 2024 MRE; the Company updating the 2024 MRE and completing a PEA in H1 2026; drilling allocated to evaluating two areas for a potential open-pit operation taking 3 months to complete; additional drill testing of the deeper extension of the Jubilee Shear is planned to continue in parallel with the drill testing of the near-surface extension of the Jubilee Shear; additional drilling being necessary to infill the gaps between the widely spaced drill holes completed to date to find areas of thickening of the high-grade core of the Jubilee Shear; and that alteration related to gold mineralization in the new shoot appears to transition from white mica-dominated to chloritized biotite-dominated which is often associated with higher grades. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance. This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024 and January 31, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Figure 1 - 3D view showing conceptual pits, select previous drilling and existing underground 2 - Longitudinal view of Jubilee Shear showing the interpreted steeper plunging zones of overlying quartz veins that have enriched the shallow, south plunging shoot / gabbro. The intersected gabbro at depth is interpreted to be similar to the gabbro closer to surface that provides control on the gold 3 – A and B) Photographs of SD-25-552 showing the zone of strong alteration, quartz veining and mineralization in the Jubilee Shear with B) a close view of the high-grade quartz vein. C) Variably sheared and veined gabbro dyke identified at depth below the Jubilee Shear in SD-25-540. The core pictures are from NQ-sized drill core with a diameter of 47.6 mmPhotos accompanying this announcement are available at: