Red Pine Exploration Purchases Historic NSRs on the Wawa Gold Project
NEWS RELEASE
August 2, 2017
Red Pine Exploration Purchases Historic NSRs on the Wawa Gold Project
Toronto, Ontario – August 2, 2017 – Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine"
or the "Company") has agreed to purchase a series of NSRs that exist on the property
(Figure 1). The Company will issue to the Vendor $25,000 and 100,000 common shares in
the Capital of the Company. These NSRs will now be extinguished.
Quentin Yarie, President and Chief Executive Officer of Red Pine state d, "Part of the
Company’s plan has been to clean up the existing land holdings around the Wawa Gold
Corridor. We have been acquiring mineral rights in what we feel are strategic areas t o
consolidate our land package. The removal of these NSRs is part of that plan”.
The following claims have been cleared of NSRs:
Patented Mining
Claim ID Royalty Obligations Extinguished
DJ7 5% NSR on all ores, metals and minerals
DJ8 5% NSR on all ores, metals and minerals
R738 5% NSR on all ores, metals and minerals
R738 5% NSR on all ores, metals and minerals
SSM138 5% NSR on all ores, metals and minerals
SSM139 5% NSR on all ores, metals and minerals
SSM140 5% NSR on all ores, metals and minerals
SSM141 5% NSR on all ores, metals and minerals
SSM176 5% NSR on all ores, metals and minerals
SSM177 5% NSR on all ores, metals and minerals
SSM178 5% NSR on all ores, metals and minerals
SSM182 5% NSR on all ores, metals and minerals
SSM183 5% NSR on all ores, metals and minerals
SSM191 5% NSR on all ores, metals and minerals
SSM194 5% NSR on all ores, metals and minerals
SSM195 5% NSR on all ores, metals and minerals
SSM201 5% NSR on all ores, metals and minerals
SSM212 5% NSR on all ores, metals and minerals
SSM218 5% NSR on all ores, metals and minerals
SSM219 5% NSR on all ores, metals and minerals
SSM220 5% NSR on all ores, metals and minerals
SSM221 5% NSR on all ores, metals and minerals
SSM223 5% NSR on all ores, metals and minerals
SSM224 5% NSR on all ores, metals and minerals
SSM241 5% NSR on all ores, metals and minerals
SSM242 5% NSR on all ores, metals and minerals
SSM243 5% NSR on all ores, metals and minerals
SSM244 5% NSR on all ores, metals and minerals
SSM245 5% NSR on all ores, metals and minerals
SSM246 5% NSR on all ores, metals and minerals
SSM247 5% NSR on all ores, metals and minerals
SSM248 5% NSR on all ores, metals and minerals
SSM250 5% NSR on all ores, metals and minerals
SSM252 5% NSR on all ores, metals and minerals
SSM257 5% NSR on all ores, metals and minerals
SSM258 5% NSR on all ores, metals and minerals
SSM259 5% NSR on all ores, metals and minerals
SSM261 5% NSR on all ores, metals and minerals
SSM262 5% NSR on all ores, metals and minerals
SSM222 5% NSR on all ores, metals and minerals
SSM249 5% NSR on all ores, metals and minerals
Figure 1
Wawa Gold Project
The Wawa Gold prope rty package consists of over 5,5 00 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 u sing a 0.5 g/t cut-
off contained within 19.82 million tonnes2.
Exploration work by Red Pine during the past 16 months has involved the ongoing
sampling of 42,000 metres of historic core that was never sampled by previous operators
of the project (initiated in February 2016) and aggressive drilling campaigns.
In March 2017, the Company completed a 6,000 metres of drilling and immediately
initiated a new 10,000 metres drilling program. This was quickly expanded to 20,000
metres as a second drill was added to the campaign. The aggregate 20,000 metres drill
program is designed to potentially expand the size of the existing inferred gold resource
and connect other zones of gold mineralization (the Wawa Gold Corridor) recently
discovered through drilling and other exploration techniques on the large Wawa Gold
Project property.
The Company is well positioned to fund it s share of the Wawa Gold exploration program .
As such, the sampling and drill programs are expected to continue throughout 2017.
Highlights
100% owned land position between JVA
2 k m southeast of the Municipality of Wawa, Ontario , close to roads, power and
other infrastructure
8 past producing mines on property with historical production of 120,000 oz gold
at 9.04 g/t average grade1
> 1M oz Inferred Gold Resource at 1.71 g/t (0.5 g/t cut-off)2
o Near surface mineralization
o Open in all directions
o Exploration continuing to expand the existing resource
Considerable Growth Potential
o Potential for multi-million ounces resource
o Newly discovered high-grade gold zones in many areas on property
o Gold mineralization extends 5 km in length
Preliminary Metallurgical Study Underway
o Optimization of gold and silver recoveries
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security -sealed bags for analyses to SGS in
Lakefield, 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 sa mples 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 LLP . holding the
remaining 40% interest. Red Pine is the Operating Manager 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
Or contact:
Quentin Yarie, President & CEO, (416) 364-7024, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]
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 a t 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 p redictions 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, per formance 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.