Red Pine Appoints Red Cloud Klondike Strike as Strategic Advisor, Continues Assessment of 42,000 m of Historic Core at Its Wawa Gold Project
TORONTO, April 5, 2016 - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or "the Company") is pleased to announce that, effective March 25, 2016, it has entered into a strategic advisory agreement with Red Cloud Klondike Strike Inc. ("Red Cloud KS"), whereby Red Cloud KS will provide advisory services on both capital markets and merger and acquisitions to the Company. About Red Cloud KS
Red Cloud Klondike Strike Inc. is a 'new concept' capital markets advisory firm dedicated solely to the mining sector. It uses its global network of capital markets specialists and extensive experience in the many facets of the business to help companies identify alternative sources of capital and quality actionable growth/divestiture opportunities, and to generate and maintain important relationships with key investors.
Red Cloud KS recently launched the world's first regulated equity crowd funding platform for mining. The signature online investment platform offers a unique alternative method of accessing capital as it enables investors to directly participate in security offerings, and provides issuers the access to a fresh pool of investors in a streamlined, secure, online process. Red Cloud KS is registered as an Exempt Market Dealer (EMD) in all provinces of Canada, as well as the Yukon, and is subject to applicable securities regulations.
Historic Core Sampling Program
Following its 2015 exploration programs, the Company speculated that some of the gold zones in the footwall and hanging wall of the Surluga Deposit were not entirely sampled in the past and that sampling gaps remained in some gold mineralized zones of the Surluga Deposit.
As announced on February 11, 2016, the Company is currently progressively describing and selectively sampling approximately 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) in the Wawa Gold Corridor to help fill these gaps. The work aims to extend and define additional gold zones in the footwall and hanging wall of the Surluga Deposit, and extend some gold zones of the Surluga Deposit that were not entirely sampled in the past. Red Pine intends to add the newly identified gold-bearing intersections to the existing inferred resource1.
Administration
The Company announces that the Board of Directors has approved the granting of 775,000 incentive stock options to the new CFO and consultants of the Company. The incentive stock options have an exercise price of $0.08 per share and are valid for a 5-year period (expiring March 5, 2021).
Qualified Person
Quentin Yarie, PGeo., 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 30% interest in the Wawa Gold Project and is part of a Joint Venture Agreement (JVA) with Citabar LLP and Augustine Ventures Inc. Under the terms of the JVA, Red Pine is the Operating Manager and continues to explore and advance the current gold resource on the property.
On December 17, 2015, Red Pine and Augustine Ventures conjointly signed a Letter of Intent to merge. The merged exploration company will own 60% of the Wawa Gold Project.
1NI 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 (overall cut-off grade of 0.5 g/t), 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)). The report is available on www.SEDAR.com under Red Pine's profile.
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.
Contact
Red Pine Exploration Inc.
Quentin Yarie, President & CEO
(416) 364-7024
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy, Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com
