Red Pine Exploration Inc. Announces $2,436,800 Non-Brokered Private Placement

TORONTO, ONTARIO–(Marketwire – Dec. 11, 2009) – The Directors of RED PINE EXPLORATION INC. (TSX VENTURE:RPX) (“Red Pine”) wish to announce the closing of a non-brokered private placement financing for total gross proceeds of $2,436,800.

A total of $1,608,800 of the gross proceeds relates to the sale of 17,875,554 Flow-Through Units sold at $0.09 per Unit. Each Flow-Through Unit consists of one common share issued on a flow-through basis and one-half of a non-flow-through common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share for $0.15 for a period of two years after closing. Insiders of the Company subscribed for 2,100,000 of the Flow-Through Units for a total purchase price of $189,000.