PI Global Investments
Precious Metals

American Pacific Mining Provides Drilling Update and Releases New CSAMT Data Highlighting New Vein Targets at the Tuscarora Project, Elko County, Nevada

High-grade gold in the Minto Mine Deposit

As part of its on-going drilling in the Surluga South exploration target, Red Pine is testing strategic gaps in the resource of the Minto Mine Deposit. In hole SD-22-373, located within an approximately 25 meters-wide gap in the current resource of the Minto Deposit, we discovered additional high-grade gold mineralization in the Minto Mine shear zone. The results from SD-22-373, combined with those of SD-21-298A (announced September 2, 2021), indicate that the Minto Mine deposit has the potential to host zones of high-grade gold mineralization.

Table 1 – Minto Mine Shear Zone (refer to Figure1)

Hole From (m) To (m) Length (m)* Est. True Width (m) Visible Gold Gold (g/t) Zone
SD-22-373 147.49 148.50 1.01 Yes 17.68 Minto Stockwork
159.45 164.17 4.72 3.45 Yes 68.71 Minto Mine Shear Zone
Including
161.15 162.10 0.95 0.69 Yes 80.80
162.10 163.16 1.06 0.77 Yes 231.5

Figure 1 – Minto Mine South Cross Section .

Discovery of gold mineralization in the Jubilee Shear Zone south of the Parkhill Fault – Figure 2

“As we continue to focus on the expansion of the Surluga and Minto Mine South resources, a third drill has been conducting further regional exploration of the property, particularly south of the Parkhill Fault (Figure xx). We have successfully demonstrated that a large orogenic gold system exists at the Wawa Gold Project now extending over a >6km strike length. Gold mineralization exists across multiple structures south of the Parkhill fault and we will now utilize what we have learned from the Surluga resource to identify zones of material gold grades and thicknesses. As an example, visible gold has been intersected in the Jubilee shear south of the Parkhill fault in hole JS-22-368 proving our teams understanding of this large gold system (assays pending),” – Quentin Yarie, President and CEO of Red Pine Exploration.

Figure 2 – Plan Map Of Wawa Gold Corridor – Extending the Jubilee Shear.

Further Exploration Results

Red Pine’s drilling confirmed the presence of gold mineralization in some of the deformation domains that are forming the Jubilee Shear Zone south of the Parkhill fault thereby opening this underexplored segment of the structure for additional exploration (Table 2).

Table 2– Jubilee Shear Zone south of the Parkhill Fault (refer to Figure 2)

Hole From (m) To

(m)

Length (m)* Est. True Width (m) Visible Gold Gold (g/t) Zone
JS-22-359 233.32 234.45 1.13 3.14 Jubilee Shear System
296.78 297.63 0.85 1.16

* Assay results presented over core length are estimated to represent over 75% true width

Darwin Grace-Nyman Gold System: Confirmation of mineralization in the Grace Shear Zone 300 meters south of the vertical shaft of the Darwin-Grace Mine

In the Darwin-Grace area, hole DG-22-349 extends gold mineralization in the Grace Shear Zone 300 m southeast of the vertical shaft of the Darwin-Grace Mine (Table 3). Being the southernmost drill hole ever completed in the Grace Shear Zone, DG-22-349 shows that mineralization in the Grace Shear System remains open to the south. Red Pine’s 2022 Phase 1 exploration program has confirmed the presence of gold mineralization along the Grace Shear Zone over a total strike length of 650 meters ( announced March 16 th , 2022 ).

Table 3 – Expansion of gold mineralization in the Darwin-Grace mineralized system*

Hole From (m) To (m) Length (m)* Visible Gold Gold (g/t) Zone
DG-22-334 135.51 136.60 1.09 1.22 Nyman
DG-22-336 NSR
DG-22-344A 322.34 323.66 1.32 1.25 EW vein
DG-22-347 NSR
DG-22-349 24.41 26.09 1.68 4.53 Grace Shear Zone – Upper Segment
51.26 53.18 1.92 0.48 Grace Shear Zone – Lower Segment
DG-22-353 82.57 83.73 1.16 1.48 Nyman Shear Zone
DG-22-354 90.81 92.40 1.59 0.79 Nyman Shear Zone

Assay results presented over core length and are estimated to represent > 75% true width in the Grace Shear Zone and the Nyman Shear Zone.

Surluga North Vein Network

Hole SD-22-352 and SD-22-330 extended the footprints of the Surluga North Vein Network (Table 4). The intersection in SD-22-352 is located 120 meters east of the intersection of the Surluga North Vein network in SD-22-326 (refer to press release dated April 19th, 2022).

Table 4 – Surluga North Vein Network above the Jubilee Shear Zone*

Hole From (m) To
(m)
Length (m)* Visible Gold Gold (g/t) Zone
SD-22-330 246.52 247.57 1.05 4.14 Surluga North – Quartz vein network
SD-22-352 227.44 228.36 0.92 Yes 13.2
246.13 247.34 1.21 0.90

Assay results presented over core length and are estimated to represent > 35% true width in the Surluga North Vein Network.

Jubilee Shear Zone

Drilling in the Surluga South and the Surluga North zones in the Jubilee Shear Zone demonstrate that the structure and gold mineralization are persisting at depth (Table 5).

Table 5 – Jubilee Shear Zone (refer to Figure 2)

Hole From (m) To
(m)
Length (m)* Visible Gold Gold (g/t) Zone
SD-22-330 332.06 333.02 0.96 1.01 Jubilee Shear Zone – Surluga North
355.85 357.79 1.94 1.19
SD-22-331B 691.91 693.38 1.47 1.04 Jubilee Shear Zone – Surluga South
746.79 747.73 0.94 1.30
752.21 754.71 2.50 0.99
761.36 762.36 1.00 1.05
767.00 768.00 1.00 3.21
793.36 795.46 2.10 1.66
SD-22-332 271.00 274.90 3.90 Yes 0.51 Jubilee Shear Zone – Surluga North
SD-22-352 351.00 352.12 1.12 1.36

Assay results presented over core length and are estimated to represent > 75% true width in the Jubilee Shear Zone.

Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples were transported in security sealed bags for analyses at Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and then shipped. The residual 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. and 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 for the Province of Ontario. Protocols were put in place to ensure our employees’ and contractors’ safety, thereby reducing the potential for community contact and spreading of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company’s common 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. 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.

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

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Carrie Howes, Director Corporate Communications, (416) 644-7375, chowes@redpineexp.com

1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.

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.

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