Red Pine Exploration Inc.

Red Pine Exploration Inc.

June 17, 2009 12:00 ET

Red Pine Exploration VTEM Survey Identifies Numerous Anomalies on Abitibi-West Property; Provides Costello Property Update

TORONTO, ONTARIO--(Marketwire - June 17, 2009) - Red Pine Exploration Inc. ("Red Pine" or the "Company") (TSX VENTURE:RPX) announces that preliminary magnetic, VTEM and radiometric airborne survey data have been received from Geotech Ltd. for Red Pine's Abitibi-West Property located in the Central Swayze Greenstone Belt, southwest of Timmins, Ontario. The 925 line-kilometre airborne geophysical survey was flown over three AEM blocks - the Denyes-Swayze Block, the Dore Block and the Heenan Block. These three areas were defined within the Abitibi-West Property to be surveyed as an enhancement in following up positive results generated by Red Pine's initial 2007 exploration program and numerous published OGS geochemical and geological surveys.

Numerous Anomalies Identified on all Blocks Flown

Numerous VTEM and radiometric anomalies resulted from the recent surveys on all three blocks flown; many of them associated with favorable geology similar to gold-bearing horizons in both the Porcupine and Kirkland Lake Gold Camps. Preliminary interpretation of the high-resolution magnetic data has defined several prospective geological structures that are coincident with radiometric and VTEM anomalies and are also highly prospective for gold.

This high-resolution airborne geophysical survey has provided to-date invaluable structural and lithological information regarding the underlying geology of the Property. This new survey data, in conjunction with available geological and geophysical information, will be the focus of continued interpretation that will direct the upcoming exploration program.

Next Steps

Red Pine will commence reconnaissance investigation of highly prospective airborne geophysical anomalies beginning June 22, 2009.

Encouraging results from Red Pine's Abitibi-West Project will be available as the program evolves. Positive results will be followed up with mechanical trenching and channel sampling.

Soil Geochemical Surveying

Upon airborne survey completion and after consideration of survey results, Red Pine will carry out soil geochemical surveys over prospective parts of the Abitibi-West Property. Current sampling techniques will be implemented in an effort to define potential target areas that will be subject to further geological investigation and evaluative techniques given positive results.

Costello Property Update

On Red Pine's Costello Property, located in Bristol Township near the Lake Shore Gold and West Timmins Properties, the Company is reviewing past work in order to determine its overall situation with respect to recent discoveries in the area. Red Pine will formulate an exploration program that will best test the gold potential of the Property.

In addition, soil geochemical surveys will be carried out over the Property during the summer field season. Encouraging results will be followed up by ground geophysical surveys, trenching or diamond drilling.

About the Properties

Abitibi-West Property

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The Abitibi-West Property is a major land package (372 claim units totalling 5,952 hectares) located west of Timmins in Dore, Heenan, Swayze, Denyes and Marion townships.

The Property is located within the Swayze Greenstone Belt, which represents the western extension of the prolific Abitibi greenstone belt (same age, different volcanic constructs). The Swayze greenstone belt is connected to the eastern Abitibi by two bands of strongly deformed supracrustal rocks. The northern band is considered to mark the western extension of the Porcupine-Destor Deformation Zone, which is the major structure associated with gold deposits in the Porcupine Gold Camp around Timmins. The southern band marks the western extension of the Larder Lake Deformation Zone, a major structure related to gold deposits extending right across the southern Abitibi from the southern Swayze, then Matachewan, Kirkland Lake and through to Val d'Or.

The Property also features basinal structures which developed as a result of movement and fracturing along splays of these major deformation zones. There are late Archean alkaline quartz-feldspar and feldspar porphyry sills, as well as conglomeratic units that were deposited in the basins. Of prime importance, these basins are of Timiskaming age and appear similar to units that are spatially associated with gold deposits in both the Porcupine and Kirkland Lake gold camps.

Costello Property

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The Costello Property occurs immediately to the east of Lake Shore Gold's new Timmins West (Holmer) gold deposit that is currently under active development (shaft sinking).

Like Timmins West, the Costello Property's land position has been neglected historically and is probably similar to the mineralized system that hosts the Timmins West deposit along and beside the Bristol fault - a structure that is parallel to the Porcupine-Destor Deformation Zone - the largest of a series of parallel deformation zones that are structurally associated with gold mineralization in the Porcupine Gold Camp.

Adminstration

A total of 1,295,000 options were reissued to Directors, Officers and Consultants of the Company on June 16th, 2009 under the terms of the incentive stock option plan of the Company filed with the TSX Venture Exchange and approved by shareholders at the last Annual General Meeting of Shareholders of the Company held on January 27, 2009. The options are exercisable at a price of $0.10 per share for a period of four years and are subject to a four-month hold period from the date of the issuance thereof.

Randall Salo, P.Geo. is the Exploration Manager and is overseeing the field exploration program on behalf of Red Pine, and is the qualified person for the technical information contained in this press release.

WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.

Contact Information

  • Red Pine Exploration Inc.
    Brent Nykoliation
    Vice President of Business Development
    (416) 364-7024
    (416) 364-2753 (FAX)
    bnykoliation@redpineexp.com


    Red Pine Exploration Inc.
    Kirk McKinnon
    President and CEO
    (416) 364-7024
    (416) 364-2753 (FAX)

    Red Pine Exploration Inc.
    Richard Schlur
    Chief Operating Officer and CFO
    (416) 364-7024
    (416) 364-2753 (FAX)
    www.redpineexp.com