Red Pine Appoints Alamos Gold’s Nominee, Alice Murphy, to Board of Directors
Red Pine Appoints Alamos Gold’s Nominee, Alice Murphy,
to Board of Directors
Toronto, Ontario (April 29, 2024) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF )
(“Red Pine” or the “Company”) is pleased to announce the appointment of Alice Murphy to its
board of directors (the “Board”) effective April 29, 2024. Ms. Murphy has also been appointed as
Chair of the Audit Committee.
Ms. Murphy is an experienced finance, governance, government relations and mining
professional. She is currently a director and Chair of the audit committee of Moon River Capital
Ltd. which is a Canadian -based resource company focused on the acquisition, exploration and
development of mineral projects . Ms. Murphy also serves as Managing Director of BHT Asset
Management.
Ms. Murphy served as Chief Financial Officer of PricewaterhouseCoopers’ Financial Advisory
Services from 1997 to 2003, as Chief Financial Officer of Harry Winston from 2003 to 2008, and
as Chief Financial Officer of Wahta Mohawks Administration from 2014 to 2016. Additionally, Ms.
Murphy was Mayor of the Township of Muskoka Lakes from 2010 to 2014.
Ms. Murphy holds a bachelor’s degree from the University of Toronto and became a Fellow of the
Institute of Chartered Professional Accountants in 2016.
Paul Martin, Chair of the Board, commented:
“We welcome the appointment of Ms. Murphy and the continued support of Alamos Gold in the
Wawa Gold Project."
Pursuant to the terms of the Investor Rights Agreement between Red Pine and Alamos Gold Inc.
(“Alamos Gold”) of December 20, 2019, Alamos Gold has the right to nominate one person for
election to the Board provided it owns at least 10% of the issued and outstanding common shares
of the Company.
In connection with Ms. Murphy’s appointment to the Board, she was granted 125,000 stock
options. At the same time, Mr. Michael Michaud was awarded a one -time on-boarding grant of
900,000 stock options in connection with assuming the position of President & Chief Executive
Officer as announced on April 22, 2024. An additional grant of 15,000 stock options was made to
an employee of Red Pine. The foregoing stock options have a term of 5 years, an exercise price
of $0.20 and vest 25% on April 29, 2024 and a further 25% on each anniversary of the date of
grant.
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]
Or
Carrie Howes, Director Corporate Communications, at (416) 644 -7375 or
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 may contain 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 exp ected”, “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”, “wo uld”,
“might” or “will” be taken, occur or be achieved.
This news release may contain forward-looking information. 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 a nd 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, polit ical 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 var iations 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 indus try, 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 tradition al 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 t hat 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.