Red Pine discovers high-grade gold in un-sampled historic core

TORONTO, Aug. 08, 2018 -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") has received partial assay results for 135 holes from historic core from its Wawa Gold Project that the Company is sampling as part of its 2018 sampling program. The Company has received assay results for a total of 7,600 of the 11,000 metres of historic core logged this year and found >0.1 grams per tonne (“g/t”) of gold in 51% of the sampled holes.

Sampling Highlights:

• 8.78 g/t gold over 2.28 metres (calculated true thickness) at the Surluga Deposit in U0728L5;
• 9.36 g/t gold over 0.7 metres (calculated true thickness) in S174W;
• 2.31 g/t gold over 4.88 metres (calculated true thickness) in U0645L5;
• 1.55 g/t gold over 3.8 metres in U0683L5;

Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "Our sampling program continues to highlight the shortcomings of the current deposit model at Surluga as these historic holes were unsampled and therefore assigned a “0” gold value with the areas considered sterilized within the current resource model. Sterilizing an area removes any ability to extrapolate mineralization to that area within the model. These historic holes were drilled primarily underground within the geologic constraints of the existing deposit model. Since we are seeing gold values in 51% of the holes sampled to date, any value other than “0” assigned to these areas will have a positive impact on any future resource model.”

Sampling of historic core

Since December 2014, Red Pine's sampling of 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) continues to add gold in many of the sampled historic boreholes in the Jubilee Shear Zone, as well as in the footwall and hanging wall of the Surluga Deposit. The spatial distribution of the historic boreholes with notable gold weighted average increases will positively change the current deposit model (Fig 1).

On-going Drilling Program

Red Pine’s 2018 diamond drill program is focussed on in-filling strategic areas of the Surluga Deposit where the sampling of historic holes is not possible, or in areas that were not drilled historically. The Company, assisted by Golder Associates, has devised a drilling program that is designed to maximize its impact on the Surluga Deposit.

Table 1 – Highlights of the historic core sampling program

U0637L5

Calculated Before/ Intersection Grade % % % True Hole After Structure ^From To (m) length Metal (g/t changes changes remaining

(m) Width Factor sampling (m) gold) length metal un- (m)

factor sampled

U0648L5 Before

U1117L3 Before

*Calculated using the calculated true width of the intersection

Wawa Gold Project Background

The Wawa Gold Project consists of over 5,500 hectares and hosts several former mines with a combined historic production of 120,000 oz gold¹. To date, the largest gold deposit on the property is the Surluga Deposit, which hosts a NI 43-101 Inferred Resource of 1,088,000 oz gold at an average grade of 1.71 g/t (using a 0.5 g/t cut-off) contained within 19.82 million tonnes².

Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 42,000 m of historic core that was never sampled by previous operators of the project, and aggressive drilling campaigns. To date, the Company has completed over 52,000 m of drilling and made four discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone and; the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.

Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor.

The Company is well positioned to fund its share of the Wawa Gold exploration program.

As such, the sampling and drill programs are expected to continue through 2018.

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

Drill core samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped. The remaining coarse reject portions of the samples remain in storage if 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 content of this news release.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

Red Pine has a 60% interest in the Wawa Gold Project with Citabar LP. holding the remaining 40% interest. Red Pine is the operator of the project and is focused on expanding the existing gold resource on the property.

For more information about the Company visit www.redpineexp.com.

1Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc. (effective May 26, 2015)). The report is available on www.SEDAR.com under Red Pine’s profile.

2NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)).

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.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ca2f3095- 7567-4905-ba2f-722c3cc854cb

Or contact:

Quentin Yarie, President & CEO, (416) 364-7024, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]