Red Pine Exploration Inc. Announces Results of Annual Shareholder Meeting

TORONTO, June 01, 2021 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) (the “Corporation”) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held on May 31, 2021, with all resolutions approved with the required majority. At the Meeting, the shareholders:

• elected Drew Anwyll, Andrew Baumen, Robert Dodds, Nils Engelstad, Paul Martin and Quentin Yarie as directors of the Corporation;

• re-appointed MNP, LLP, Chartered Professional Accountants as auditors of the Corporation to hold office until the next annual meeting of shareholders, and to authorize the directors to set their remuneration;

• approved a resolution authorizing the continued use of the Corporation’s stock option plan (the “Stock Option Plan”).

The Board of Directors has granted an aggregate of 150,000 stock options to directors, and consultants of the Corporation pursuant to the Stock Option Plan. Each stock option is exercisable to acquire one common share of the Corporation at a price of $0.76 per share, vest over 36 months and expire on the fifth anniversary of the date of grant. The grant of options is subject to the approval of the TSX Venture Exchange.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

For more information about the Company, visit www.redpineexp.com
Or contact: Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com
Or Tara Asfour, Investor Relations Manager, (514) 833-1957 tasfour@redpineexp.com

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.