Michael Michaud to join Red Pine as its President & CEO and as a member of its Board of Directors

TORONTO, April 22, 2024 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce that Michael Michaud will be joining Red Pine as its President & Chief Executive Officer and as a member of its board of directors (the “Board”).

Mr. Michaud is a Professional Geologist with over 30 years of experience in domestic and international gold exploration and mining that includes a broad range of deposit types within North and South America, Africa, Asia and Europe. Michael was responsible for developing and implementing regional and mine-site exploration strategies to discover new deposits and to expand mineral resources and reserves around existing mines.

Mr. Michaud has served as SVP, Exploration and Resources at Wesdome Gold Mines Ltd. since 2017 and, before that, served as Iamgold Corporation’s Chief Geologist responsible for providing global geological support for IAMGOLD’s exploration activities worldwide. Previously, Michael served as Vice-President, Exploration for St. Andrew Goldfields Ltd. and as Principal of SRK Consulting Inc.

Paul Martin, Chair of the Board, commented:

“We are extremely pleased to have attracted someone of Mr. Michaud’s caliber to lead Red Pine during the next phase of the Company’s progression. Michael has an extensive background in resource development, as well as relevant corporate experience, and the Board looks forward to working with him. His endorsement of Red Pine is a strong statement on the future potential of the Wawa Gold Project and our goal of expanding the resources on our large, relatively underexplored, claim block located in a very active gold district in north-western Ontario.”

Mr. Michaud commented:

“I am very pleased to be leading the Red Pine team. Exploration success over the past several years has not only identified high grade mineralization outside of the previously mined zones but has also confirmed the potential to host a sizeable gold deposit near surface. It is an exciting time for Red Pine to now capitalize on this significant potential and I am eager to be part of the advancement of this property.”

Mr. Michaud has been appointed to the Board and is expected to commence his role as President & CEO of Red Pine on or before July 19, 2024.

On behalf of the Board, Mr. Martin said “the Board wishes to thank Mr. Quentin Yarie, who resigned from the Board effective April 19, 2024, for his many years of service to Red Pine”.

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. Its land package hosts numerous historic gold mines and is over 6,900 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 www.redpineexp.com

Or contact:

Paul Martin, Board Chair and Interim CEO, at (416) 364-7024 or [email protected]

Carrie Howes, Director Corporate Communications, at (416) 644-7375 or [email protected]

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 growth, results of operations, performance and business prospects and opportunities of Red Pine.

All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur constitute forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations (including negative and grammatical variations) of such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

This news release contains forward-looking information including, but not limited to, Mr. Michaud commencing his role as President & CEO of Red Pine on or before July 19, 2024, and the Company’s potential to host a sizeable gold deposit near surface.

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: global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions; general business, economic, competitive, political and social uncertainties; uncertainties arising from the COVID-19 outbreak; the actual results of current exploration activities; conclusions of economic evaluations; fluctuations in currency exchange rates; higher prices for fuel, power, labour and other consumables contributing to higher costs; seasonality and weather; changes in project parameters as plans continue to be refined; project cost overruns; future prices of zinc, lead, vanadium, copper, silver and gold or other metal prices; possible variations of mineral grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents; labour disputes; unanticipated reclamation expenses; title disputes or claims; limitations on insurance; and other risks of the mining industry, including but not limited to environmental hazards, equipment breakdown, employee sickness and acts of God or other unfavourable operating conditions and losses; delays caused due to a breakdown in relations with First Nations Bands on whose traditional territory the Wawa Gold Project (as hereinafter defined) is located; and delays in obtaining governmental approvals, project financing or in the completion of exploration activities. Readers are cautioned that the foregoing list of factors is not exhaustive.

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, 2023, and the interim financial reports and related MD&A for the periods ended October 31, 2023 and January 31, 2024, filed with the securities’ regulatory authorities in certain provinces of Canada and available at www.sedar.com. 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 factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Red Pine disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws. There can be no assurance that forward-looking information 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 statements.