Michael Michaud, President and CEO of Red Pine commented: “2025 marked a pivotal year for Red Pine as we successfully delivered on all planned milestones and took steps to advance the Wawa Gold Project from exploration to development. With an updated mineral resource completed, a Preliminary Economic Assessment expected in early.  2026, and a clear path toward a staged open-pit development strategy, we enter the coming year well positioned to continue de-risking the project and advancing toward a production decision. Production would provide funds to continue to explore and develop other targets and capitalize on our longer-term growth opportunities.”

2025 HIGHLIGHTS – FOUNDATION FOR TRANSFORMATION FROM EXPLORER TO DEVELOPER

During 2025, Red Pine successfully executed all major planned milestones while advancing the technical work required to transition the Wawa Gold Project from a pure exploration asset toward development and future production.

Exploration Success & Resource Growth Potential

• Demonstrated significant depth and scale potential through approximately 15,000 metres of step-out drilling, extend mineralization at depth and returning multiple high-grade gold (“Au”)intercepts. Step-out drilling at the Jubilee Shear intersected 5.68 grams per tonne (“g/t”) Au over 10.72 metres (“m”), including 19.05 g/t Au over   2.00 m, which is 600 m down plunge from previous drilling and could extend over more than 940 m (See Press Release dated March 25, 2025).
• Discovered the southern faulted extension of the Jubilee Shear, opening new exploration and resource expansion opportunities. Drilling has confirmed that shallow, south-plunging gold mineralization of the Jubilee Shear in the north part of the property continues to the south in the faulted extension of the Jubilee Shear that could significantly add to the current mineral resource base. Limited drilling returned 1.19 g/t Au over 6.48 m, including 5.32 g/t Au over 1.29 m, 5.53 g/t Au over 1.20 m and 7.03 g/t Au over 2.11 m (See Press Release dated October 31, 2024).
• Discovered high grade veins near the historic Cooper mine,       including 82.50 g/t Au over 0.74 m in the Y106 shear traced over more than 500 m along strike and 320 m down-dip (See Press Release dated November 10, 2025).

Pivot to Developer/Producer

• Identified conceptual near-surface open pits and commenced focused definition drilling, completing over 10,000 m. Significant near-surface intersections include 4.63 g/t Au over 13.25m core length, 10.05 g/t Au over 8.59 m, 7.76 g/t Au over 15.49 m, 9.03 g/t Au over 14.00 m and 45.38 g/t Au over 3.13 m that continue to identify significant zones of near-surface gold mineralization within areas of the Jubilee Shear that were sparsely tested or untested in historical drilling programs in the near surface crown pillars of the former mines (See Press Releases dated June 18, 2025, September 4, 2025, September 30, 2025, December 16, 2025).
• Completed surface trenching programs to further define shallow mineralization and structural continuity.
• Completed internal technical studies confirming the potential for small, staged open pits, supporting a phased development strategy.

Financing & Balance Sheet Strength

• Successfully closed a fully subscribed $8.5 million private placement, significantly strengthening the Company’s balance sheet and fully funding completion of the Preliminary Economic Assessment (“PEA”) expected in early 2026.

Environmental

• Initiated environmental baseline studies to support long-term       permitting and future completion of a Pre-Feasibility Study (“PFS”).

2026 PLANNED MILESTONES – EXECUTION AND TRANSITION TO DEVELOPMENT

Building on the strong progress achieved in 2025, Red Pine has established a disciplined execution plan for 2026 focused on advancing the Wawa Gold Project toward a production decision.

·       Complete PEA and National Instrument 43-101 Technical Report in early 2026

·       Advance environmental work and complete baseline studies in support of receiving mining permit

·       Continue collaboration with First Nations partners as part of an inclusive and responsible development process

·       Advance PFS focused on initial near-surface open-pit development scenarios

·       Secure processing plant for toll milling scenario

·       Following completion of the PFS, advance towards a production decision and next-stage development activities

·       Consider opportunities to further test the immediate exploration targets having potential to significantly grow the mineral resource base