Red Pine options 75% of Costello to West Timmins

2009-08-26 08:35 ET - News Release

See News Release (C-RPX) Red Pine Exploration Inc

Mr. Brent Nykoliation of Red Pine reports

WEST TIMMINS MINING TO ACQUIRE 75% STAKE IN RED PINE EXPLORATION'S GOLD PROPERTY IN TIMMINS

Red Pine Exploration Inc. has entered into a letter of agreement with West Timmins Mining Inc. pursuant to which West Timmins has the option to acquire a 75-per-cent undivided right, title and interest in Red Pine's hydrothermal gold Costello property located in the Porcupine mining division of Northern Ontario.

The Costello property consists of nine claim units totalling approximately 160 hectares in Bristol township of the Porcupine mining division of Northern Ontario, located 18 kilometres due west of Timmins, Ont.

It is positioned one kilometre east of Lake Shore Gold's Timmins West (Holmer) gold deposit and two kilometres east of West Timmins's Thunder Creek gold property.

Kirk McKinnon, president and chief executive officer of Red Pine, stated: "We are very pleased to have concluded a letter of agreement outlining the principal terms of an agreement between Red Pine and West Timmins. Their seasoned management and very knowledgeable team of geologists possess an in-depth understanding of the area. We have been very encouraged with the recent groundwork and analysis completed from the soil sampling completed this year on the property, and by the gold mineralization being intersected by West Timmins Mining. This partnership with West Timmins will allow us to further develop the exploration potential of the Costello property."

They see something toward us. this property is right up to ours.. DYODD PB