Red Pine Exploration Announces Acquisition of Quebec Silica Property

TORONTO, ONTARIO--(Marketwired - Oct. 23, 2014) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") announces that it has entered into an agreement, subject to certain terms and conditions, to acquire the Kipawa Silica Property (the "Kipawa Property") located approximately 15 kilometers east of Temiscaming, Québec.

Quentin Yarie, President & COO, commented: "We continue to evaluate opportunities that will increase shareholder value and acquiring the Kipawa Silica Property will be a good complement to our project portfolio. Silica belongs to a group of materials known as Industrial Minerals which includes such minerals as lithium, graphite and vanadium. Many of these minerals including silica gained prominence in recent years as more and more countries consider them strategic materials. Silica is a rapidly growing commodity and represents a new and exciting opportunity for Red Pine. We hope to be strategically positioned to capitalize on the future demand for high-purity silica."

Silica Background Information

Silica (SiO₂) is most commonly found in nature as quartz. It is used in foundries, the aluminum industry and glass factories as well as in the production of high-tech components. Although quartz is the second most abundant mineral on earth, high purity quartz is rare. Demand for high-purity silica (used to create fused quartz for high-tech manufacturing such as solar panels, semiconductors, LCD displays, and lithium batteries, etc.) has risen and this trend is projected to continue as it is considered a premium product in short supply. Tightening supply due to current levels of production in Brazil and China have contributed to price gains. The increasing demand will sustain these gains and support a further rise in silicon prices through to 2017 (source: CRU) (source: Silicon Market Outlook Report 2014).

The commercial importance of this material is perhaps best illustrated by FerroAtlantica, one of the largest silicon metal (Si) producers in the world, who recently announced that they are planning to invest nearly $400 million in the construction of a silicon metal plant in Port Cartier, Québec. *

* There has been no contact between Red Pine Exploration and FerroAtlantica. Further, there is absolutely no guarantee that the Kipawa Property would ever produce any saleable silicon metal product or that FerroAtlantica would ever purchase such product.

Kipawa Silica Project

The Kipawa Property consists of 68 claims totalling 4,012 hectares in the Gendreau, Campeau and Reclus townships of Québec. The property contains a quartzite unit that is part of the Kipawa Formation. Recent surficial maps show that the quartzite unit covers an area within the claim blocks of approximately 1.9 square kilometres and it could potentially contain high purity quartz. *