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CAPITAL STRUCTURE

RED PINE EXPLORATION INC.

TSXV: RPX

* As of December 31, 2021

CURRENT

Shares Outstanding (M) - Basic

Options (M) – wt. av. C$0.73

117.4

3.7

Warrants (M) – wt. av. C$0.40

2.8

Shares Outstanding (M) - Fully Diluted

124.0

Wawa Gold Project Ownership

100%