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Vancouver, British Columbia – November 7, 2023 – Red Pony Exploration (“Red Pony” or the “Company”) is pleased to announce that it has expanded the Trout Lake Property through online mineral claim staking. The new 100% owned claims total 224.75 hectares in three separate blocks that cover the known Metropolitan, Blue Jay, and Mohican mineral occurrences. The new claims further improve Red Pony’s position in the Trout Lake district and fill in gaps along known mineralized trends.

• The Metropolitan occurrence located in the upper reaches of Ferguson Creek hosts polymetallic veins within the contact between two lithological units. Historic government records show that in 1901 five tons of ore was shipped containing 1334 oz of silver, 1.09 oz of gold, and 0.99 tons of lead.¹
• The Blue Jay occurrence located northwest, and uptrend of the Black Warrior zone, hosts polymetallic veins within zones of carbonate replacement. Historic government records show that in 1914 two shipments of sorted ore were made (200 lbs and 5,000 lbs) that assayed 110.8 oz/t silver and 21.5% lead, and 114.0 oz/t silver and 24% lead respectively.²
• The Mohican occurrence covers a series of quartz veins in carbonaceous calc-schist along the Badshot limestone contact. Historic government records show that in 1903 the Cariboo Creek Development Syndicate drove a 400ft adit and removed 9.0 tons of sorted ore that assayed approximately 60 oz/t silver and 30% lead.³ In 1914 another 8.8 ton shipment returned 0.01 oz/t gold, 56.3 oz/t silver, 1.5% copper, 27.8% lead, and 10.9% zinc.³

Red Pony considers the above production figures to be historical in nature and cautions that the historical production values are not current mineral resources or mineral reserves in accordance with National Instrument 43-101. These estimates do not comply with the definitions of current mineral resources or mineral reserves definitions prescribed by National Instrument 43-101 or the Canadian Institute of Mining, Metallurgy, and Petroleum and are disclosed only as indications of the presence of mineralization and are relevant as a guide for additional work.

¹Geological Survey of Canada Memoir 161, page 109.

²Annual Report of the Minister of Mines 1914, Province of British Columbia, page K 313.

³Annual Report of the Minister of Mines 1903, Province of British Columbia, page H 125.

⁴Annual Report of the Minister of Mines 1914, Province of British Columbia, page K 134.

Red Pony is currently reviewing the historic data available for the new claims and is integrating the information into their historic data database.

Figure 1. Newly acquired mineral claims within the Trout Lake Property.

 

Lithogeochemical Review and Report

A Lithogeochemical review of the existing data on the Red Pony block of the Trout Lake Property was completed by Dr.Carter Grondahl of Tripoint Geological Services Ltd. The report discusses lithogeochemistry, mineralization styles, geological setting, and potential ore system models. Key takeaways include:

• The property hosts primarily Ag-Pb-Zn ± Cu-Au ore metal associations.
• There is widespread potential for gold as an accessory metal beyond the known Au-Bi vein systems.
• Carbonate Replacement Deposit (“CRD”) mineralization is recognized on the property; it is recommended that Manto-Style ore system model also be considered during future exploration.

The full report is available HERE on the Red Pony Exploration website.

Notice of Work Submission

Red Pony has submitted a Notice of Work application to the Ministry of Energy, Mines and Low Carbon Innovation with the purpose of obtaining a surface drilling permit on the Red Pony Block of the Trout Lake Property. This permit would expand on the Company’s current multi-year drilling permit on the Winslow portion of the property. The new multi-year permit application includes a request for 50 surface drill sites to be used over a five-year period. As part of the drilling permit application process Red Pony has also submitted proposed reclamation activities, archaeological chance find procedures, cultural heritage protection procedures, and is working with the Ministry to identify any environmental concerns. The Company believes in early and continued engagement with local First Nations throughout this process and is committed to culturally sensitive and environmentally sustainable exploration.

Title Protections

Due to the intense summer wildfire season in British Columbia the Mineral Titles Office has granted title protections to the Trout Lake Property extending until August 31, 2024.

Qualified Person

The technical content of this news release has been reviewed and approved by Robert A. (Bob) Lane, a consultant and advisor to Red Pony Exploration and a qualified person as defined under National Instrument 43-101.

About Red Pony Exploration

Red Pony Exploration is a privately held Vancouver-based mineral exploration company focused on the exploration and development of its Trout Lake Property, located in southeastern British Columbia, Canada. The Company is systematically modernizing more than 100 years of historic information, reviewing and prioritizing its pipeline of targets, and is in the application process for additional drilling permits on the Trout Lake Property.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.