TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to an Exploration Agreement (the “Agreement”) dated December 1, 2013 between Flying Post First Nation. (the “Vendor”) and Red Pine Exploration Inc. (the “Company”). Pursuant to the Agreement, the Company shall acquire the rights to explore on treaty right aboriginal lands held by the Vendor in which the Company conducts exploration and development of its current Cayenne-Chilli property located in the Marion and Genoa townships, Northern Ontario.
In consideration, the Company shall pay an aggregate of up to $15,000 plus issue up to 350,000 common shares at a deemed price of $0.09 plus up to 700,000 share purchase warrants (each exercisable into one common share at a price of $0.09 for a five year period) based on conducting various Phases of exploration as outlined in the Agreement.
Further, pursuant to the Agreement, the Company may also pay to the Vendor 2% of all assessment eligible exploration program costs to a maximum of $50,000 per year of the agreement if the Company proceeds with the exploration program past the preliminary phases 1 and 2 of the program.
About Red Pine Exploration Inc.
Red Pine Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Cayenne-Chili Property consists of 57 contiguous mining claims totaling 8704 hectares. The Company’s common shares trade on the TSX Venture Exchange under the symbol “RPX”.
More detailed information about the Company is available on the website: www.redpineexp.com
Or contact: Quentin Yarie, President & COO, (416) 364-7024, (416) 364-2753 (FAX),
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