Red Pine Exploration

Published : February 10th, 2012

Provides Exploration Outline and Announces Results of Annual Meeting

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Keywords :   Canada | Gold | Gold Discovery | K Street |

News Release

Red Pine Provides Exploration Outline and Announces Results of Annual Meeting

February 9th, 2012

Toronto, ON - Red Pine Exploration Inc. (RPX: TSX-V) (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.

Administration

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:

  • 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.

For more information please visit the Company's website at www.redpineexp.com

or Contact:

Brent Nykoliation, Vice President of Business Development

(416) 364-7024, (416) 364-2753 (FAX)

bnykoliation@redpineexp.com

or Kirk McKinnon, President & CEO

Cautionary Statement: We seek safe harbour. 

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Red Pine Exploration Inc | 141 Adelaide Street West | Suite 520 | Toronto | Ontario | M5H 3L5 | Canada

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Red Pine Exploration

EXPLORATION STAGE
CODE : RPX.V
ISIN : CA75686Y1088
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Red Pine is a gold and nickel exploration company based in Canada.

Its main exploration properties are ABITIBI WEST, MOFFATT, MT LOGANO and SARACOURT in Canada.

Red Pine is listed in Canada. Its market capitalisation is CA$ 136.1 millions as of today (US$ 108.0 millions, € 95.1 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.01, and its highest recent level on March 26, 2021 at CA$ 0.85.

Red Pine has 261 799 984 shares outstanding.

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Nominations of Red Pine Exploration
10/4/2013Appoints New Directors
9/13/2013Announces Resignation of Chairman and CEO
Project news of Red Pine Exploration
3/29/2012Receives Till Sample Results from Ava-Claire Property - Iden...
2/10/2012Provides Exploration Outline and Announces Results of Annual...
5/19/2011(Saracourt)Commences Exploration Program on SaraCourt Property West of ...
4/21/2011(Saracourt)to Commence Exploration Program on Saracourt Property
Corporate news of Red Pine Exploration
6/24/2016Red Pine Exploration Expands Sampling of Gold Zones in the H...
6/5/2016Red Pine Exploration Closes Private Placement Financing
5/26/2016Red Pine Exploration Announces Brokered Private Placement to...
4/5/2016Red Pine Appoints Red Cloud Klondike Strike as Strategic Adv...
2/1/2016Red Pine Announces Results of Annual Meeting
1/22/2016Impact of New Gold Discoveries on Wawa Gold Project And Upda...
1/21/2016Red Pine Exploration Inc.: Impact of New Gold Discoveries on...
1/19/2016Red Pine Exploration to Exhibit at the 2016 Vancouver Resour...
12/18/2015IIROC Trading Resumption - RPX
12/18/2015RED PINE EXPLORATION DISCOVERS NEW GOLD ZONES, DRILLS 14.28 ...
12/17/2015IIROC Trading Halt - RPX
10/1/2015Red Pine Results Support the Extension of High-Grade Gold Zo...
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8/21/2015Red Pine Exploration Closes Third Tranche of Financing
8/14/2015Red Pine Exploration Closes Second Tranche of Financing
8/13/2015Red Pine Exploration Closes Second Tranche of Financing
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7/29/2015Red Pine Exploration Announces Appointment of New Chief Exec...
4/10/2015Intersects High Grade Footwall Mineralization, Wawa Gold Pro...
2/24/2015Red Pine Exploration to Exhibit at the 2015 PDAC Internation...
2/13/2015Red Pine Drills 48.66 Metres of 4.41 g/t Gold including 16.6...
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1/27/2015Red Pine Drills 30.78 Metres of 3.06 g/t Gold, Including 7.7...
1/9/2015Red Pine Exploration to Exhibit at the 2015 Vancouver Resour...
1/6/2015Red Pine Exploration Provides Update on Wawa Gold Project
12/30/2014Red Pine Exploration Announces Proposed Share Consolidation
12/18/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/17/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/16/2014Red Pine Exploration Announces Staking of Additional Claims ...
12/15/2014Red Pine Exploration Outlines Exploration Program for Wawa G...
12/11/2014Red Pine Exploration Executes Assumption Agreement for the S...
12/11/2014IIROC Trading Resumption - RPX
12/11/2014IIROC Trading Halt - RPX
10/23/2014Red Pine Exploration Announces Acquisition of Québec Silica ...
10/23/2014Red Pine Exploration Announces Acquisition of Quebec Silica ...
7/31/2014Red Pine Exploration Completes Third Round of Drilling at Ca...
5/8/2014Red Pine Exploration to Commence Mechanized Trenching on its...
5/1/2014IIROC Trading Resumption - RPX
2/26/2014to Exhibit at the 2014 Prospectors and Developers Associatio...
7/12/2013Completes Initial Review of Cayenne-Chili Property
11/13/2012Provides Company Update
11/7/2012Announces Sale of Ava-Claire Property
3/1/2012to Exhibit at the 2012 PDAC International Trade Show & Inves...
9/1/2011Drill Results and Exploration Update
4/29/2011Adds Two Highly Prospective Properties & Provides Exploratio...
3/4/2011s Previous News Release
2/22/2011Announces Completion of Private Placement
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