Red Pine Exploration Inc.

Red Pine Exploration Inc.

February 09, 2012 08:30 ET

Red Pine Provides Exploration Outline and Announces Results of Annual Meeting

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2012) - Red Pine Exploration Inc. (TSX VENTURE:RPX) (the "Company") is a Canadian exploration company focused on gold exploration in Northern Ontario, Canada. The Company's properties are situated between two recent major gold discoveries. To the east is the Trelawney Cote Lake Gold deposit and to the west is the Probe Mines Borden Lake gold discovery. The region to the west of Timmins had not yielded a major gold discovery until the recent success of these two companies. Red Pine believes it is well situated in the Swayze belt and Kapuskasing Structural Zone and plans to explore similar gold models as identified by our neighbours. Red Pine's exploration is focused on the Ava-Claire and the SaraCourt properties.

The Company spent in excess of $2,000,000 in the 2010-2011 exploration period on drilling and exploration programs following its interpretation of the extension of the Destor Porcupine fault. The Company met with mixed success, as it was able to identify gold at SaraCourt with the best intersection being: RPX10-02- 4.05 g/t over 35 m. Although the presence of gold in the drilling was positive, the Company has not yet identified a large gold bearing zone. Given the success of our exploration and both Trelawney and Probe, the Company believes that continued exploration is merited. The Company will focus on the following two distinct areas in its 2012 exploration programs.

The Ava-Claire Property - Kapuskasing Structural Zone

The Ava-Claire property is set in a similar environment as Probe Mines' Borden Lake discovery. The Borden Lake discovery has an inferred resource of 3.8 million ounces of gold. Red Pine's consultant, Hadyn Butler, completed a regional geologic interpretation of the Kapuskasing structural zone surrounding this recent discovery. Red Pine believes that its geological and geophysical interpretation is that of an extension of the "Borden Lake Belt", as identified by Probe, which continues through the centre of Ava-Claire.

A till sampling program has been completed on Ava-Claire designed to identify favourable locations for further exploration. It is expected that the pending assay results from these samples will facilitate additional geophysical methods to map conductive targets associated with sulphides as it was at the Borden Lake discovery. The Company is awaiting these assays as we believe that positive results will be a catalyst for further exploration on Ava-Claire.

The SaraCourt Property - Swayze Belt

The SaraCourt Property is a regional land package of contiguous, high-potential gold properties totaling approximately 28,000 hectares of patented and unpatented mining lands. Located in and along the newly defined DZ3 Gold Deformation Corridor, this property holds a series of deformation zones and regional fault branches that host abundant gold showings and join the Destor-Porcupine Deformation Zone to the northeast, and join to the western extension of the Larder Lake Deformation Zone fault that branches to the southwest. The Destor-Porcupine Fault Zone is spatially associated with gold deposits in the Timmins-Porcupine Gold Camp that have produced more than 65 million ounces gold to date.


The Company announces the results of its annual and special general meeting of Shareholders (the "AGSM") held in Toronto, Ontario, Canada on January 26, 2012. A quorum of the Company's outstanding common stock as of the record date of December 8, 2011 was present in person or by proxy.

The following are the results of this AGSM:

• The following directors were appointed to hold office until the next annual shareholder meeting or until their successor is duly elected and qualified:

Elgin M. Wolfe
J.A. Kirk McKinnon
Richard E. Schler
Brent Nykoliation
Joseph Heng
Quentin Yarie
Alex Iannone

• MSCM, LLP, Chartered Accountants were appointed as the Company's auditors for the year ended July 31, 2012. It was further approved that the directors of the Company have the right to fix their remuneration.

• The continued implementation of the Company's Stock Options Plan in accordance with TSX Venture Exchange Policies was approved.

• The Company is authorized to issue up to 2,500,000 of the Company's shares to directors in lieu of cash remuneration.

The Company is also pleased to announce that immediately following the AGSM, a meeting of the Board of Directors was held. At this meeting, the Board of Directors unanimously approved the following appointments:

Elgin M. Wolfe as Chairman of the Board of Directors
J.A. Kirk McKinnon as President and Chief Executive Officer
Richard E. Schler as Chief Operating Officer & CFO

Qualified Person

Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company's exploration programs.

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Cautionary Statement: We seek safe harbour.

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