Red Pine Exploration Inc.Red Pine Exploration Inc. provided a further update on the Company's progress on its investigations into the reporting inconsistencies of certain assay results from the Wawa Gold Project. While the investigations are ongoing, based on the findings made to date, Red Pine believes that the reporting inconsistencies disclosed in the Prior Press Releases resulted from the unauthorized manipulation of certain assay results received Red Pine Exploration Inc. provided a further update on the Company's progress on its investigations into the reporting inconsistencies of certain assay results from the Wawa Gold Project. While the investigations are ongoing, based on the findings made to date, Red Pine believes that the reporting inconsistencies disclosed in the Prior Press Releases resulted from the unauthorized manipulation of certain assay results received from Activation Laboratories Ltd. ("Actlabs") by the Company's former Chief Executive Officer (the " former CEO").

Based on a review of, among other things, the chain of custody of the drill core assay results, the Company has determined that: the correct assay results were sent via email by Actlabs to the Company, addressed only to the Former CEO; and 532 out of approximately 98,000 drill core assay results in the overall database appear to have been manipulated since Red Pine acquired the Wawa Gold Project in 2014. The Company is in the process of reporting these matters to the Ontario Securities Commission and is evaluating its options with respect to other legal remedies available to it. Following the discovery of an assay reporting inconsistency on April 29, 2024, between the certified assay result received from Actlabs and the corresponding assay result in the Company's database, staff immediately commenced a review of other assay results to determine if this was an isolated incident.

When the review pointed to multiple instances of inconsistencies between the certified assay results received from Actlabs and The corresponding assay results in the Company's database ("Assay Reporting Inconsistencies"), staff alerted the Chair of the Board on April 30, 2024. While the investigations continue, the Company is hopeful that it will be able to provide an overview of the manipulation implications on the drilling results which were publicly disclosed for the 2019-2024 Period by way of press release prior to market opening on May 15, 2024. However, there can be no assurances that the Company will be able to complete this work by that date.