01:17 PM EDT, 07/23/2025 (MT Newswires) -- Red Pine Exploration ( RDEXF ) shares rose on Wednesday after the company said it completed its 2024-25 Wawa Gold Project drilling program.

The program, which began in November of 2024, consisted of 69 drill holes totaling 24,574.5 meters. Overall, the program had two primary objectives, which the company said it achieved. The first was to strengthen the geological database to assess the potential starter open pits in two near-surface areas of the Jubilee Shear. The second, to test the overall size potential of the Wawa Gold Project system beyond the 2024 Mineral Resource Estimate.

Red Pine said it is readying a Preliminary Economic Assessment (PEA) on the project, including input from an environmental and permitting consultant.

"This drilling is the first step in assessing the potential of a starter open pit operation that would provide an incremental approach towards a larger open pit or underground operation. We anticipate the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit," Chief Executive Michael Michaud said.

Red Pine shares were last seen up $0.01 to $0.10 on the TSX Venture Exchange.

Price: 0.10, Change: +0.01, Percent Change: +11.11