Puma Exploration Discovers Several New High-grade Gold Zones at Williams Brook, Including 51.73 G/t Gold Over 1.85 M

Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or "Puma") is pleased to report results from another 24 holes for 2,814 metres of its ongoing 10,000 metres 2022 drilling campaign at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. Several new high-grade veins were intersected at shallow depth (from 0-50 metres), including 51.73 gt Au over 1.85 metres and 10.70 Au over 2.00 metres in hole WB22-66 and 35.09 gt Au over 1.45 metres in hole WB22-39. These two (2) new mineralized intersections are located 500 metres apart along the O'Neil Gold Trend ("OGT") that remains open in all directions (see Figure 1).

HIGHLIGHTS OF REPORTED HIGH-GRADE INTERSECTIONS*:
■ WB22-39: 11.71 g/t Au over 2.50 m (1.23 g/t Au over 24.70 m)
■ WB22-57: 35.09 g/t Au over 1.45 m (4.30 g/t Au over 12.30 m)
■ WB22-58: 16.85 g/t Au over 1.20 m (1.15 g/t Au over 23.00 m)
■ WB22-60: 21.00 g/t Au over 0.60 m (2.38 g/t Au over 6.20 m)
■ WB22-66: 51.73 g/t Au over 1.85 m (13.49 g/t Au over 7.15 m)
■ WB22-66: 10.70 g/t Au over 2.00 m (5.01 g/t Au over 4.40 m)
*Stated lengths in metres are downhole core lengths and not true widths.
True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

The high-grade gold discovery in hole WB22-66 is of particular interest. It was drilled in an area (gap) between the Lynx and the Pepitos Gold zones where the thickness of the overburden prevented stripping and trenching before drilling. More than 30 specks of visible gold ("VG'') were identified in hole WB-22-66 (see Image 1) in an area that had not been sampled, indicating that the potential of the OGT, especially in this area, may be even higher than initially anticipated.

A total of 43 holes for 5,203 metres in the current 10,000 metres drilling program have been reported to date (including today results). An additional 31 holes are now being logged with 2,127 core samples in prep for analysis. Visible gold was identified in four (4) holes awaiting assaying (see Figure 1). Drilling is ongoing, with a total of 8,800 metres completed to date. The Company expects to complete its 10,000 m program as planned this month. Pending assay results will be announced when received, and news flow is expected to be continuous over the summer.

Figure 1: Location of reported drill holes (current release in pink)

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fd52f45-14f2-49ef-a8fa-ab65dc51563c

"The results from our 10,000 metres 2022 drilling program provide us with phenomenal new information to build our understanding of this exciting and prolific new Maritimes' Gold District on the western edge of the Bathurst Mining Camp. " said Marcel Robillard, President and CEO of Puma Exploration.

" We've already launched our fully financed summer field exploration program to identify drilling targets for the fall program. Thanks to our loyal and supportive shareholders, we are fully funded, and we will continue to aggressively develop Williams Brook." added Marcel Robillard.

Image 1: More than 30 specks of VG in hole WB22-66 (51.73 g/t Au over 1.85 m)

https://www.globenewswire.com/NewsRoom/AttachmentNg/7f902a57-b70d-488a-a208-783820b79688

"The ongoing 2022 drilling campaign, designed to confirm at shallow depth the alteration and mineralization found at surface by the aggressive grab sampling program initiated in 2019, has proven to be extremely successful. The OGT is now recognized and partly tested over 750 metres of strike length, and it is still open!" added Réjean Gosselin, Executive Chairman of the Board.

Since exploration work began at the Williams Brook Gold Project in 2019, more than 95 holes for 11,100 metres have been completed on 750 metres of the OGT. Several holes have returned significant gold intersections (see Table 1 and 2). These high-grade gold intercepts appear to be the surface expression of a large and pervasive supergene gold enrichment from a low sulphidation epithermal quartz sulphide system. The O'Neil Gold Trend is one of these multi-kilometric systems that are highly prospective for gold discoveries.

Table1: Highlights of high-grade gold intersections at the OGT since 2021*

Hole ID	From (m)	To (m)	Length (m)		Au (g/t)
WB21-01	4.00	6.10	2.10	12.71
WB21-02	7.20	10.20	3.00	8.33
WB21-02	13.70	15.80	2.10	28.52
WB21-02	45.60	49.45	3.85	46.94
WB21-03	55.90	58.10	2.20	7.81
WB21-05	26.00	28.00	2.00	12.64
WB21-06	46.80	49.70	2.90	16.92
WB21-09	16.30	18.00	1.70	15.52
WB21-12	28.60	32.40	3.80	6.93
WB21-16	80.00	88.35	8.35	5.11
WB21-17	107.00	111.65	4.65	4.85
WB22-25	2.00	5.00	3.00	34.93
WB22-26	25.50	27.10	1.60	14.06
WB22-35	14.90	17.50	2.60	5.83
WB22-36	3.80	7.00	3.20	22.28
WB22-39	26.50	29.00	2.50	11.71
WB22-57	12.40	13.85	1.45	35.09
WB22-58	11.70	12.90	1.20	16.85
WB22-60	40.00	40.60	0.60	21.00
WB22-66	32.00	34.00	2.00	10.70
WB22-66	66.50	68.35	1.85	51.73

*Stated lengths in metres are downhole core lengths and not true widths.
True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

Table 2. Significant assay results from reported holes*

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)
WB22-38	33.00	33.40	0.40	0.79
WB22-39	8.30	33.00	24.70	1.23
incl.	21.70	29.00	7.30	4.05
incl.	26.50	29.00	2.50	11.71
WB22-42	20.05	34.60	14.55	0.14
incl.	20.05	22.75	2.70	0.62
incl.	22.50	22.75	0.25	2.74
WB22-43	1.80	27.00	25.20	0.30
incl.	1.80	2.80	1.00	2.26
and	19.70	24.10	4.40	1.10
incl.	19.70	20.10	0.40	8.25
incl.	23.30	24.10	0.80	1.47
and	136.20	137.20	1.00	0.39

Table 2. Significant assay results from reported holes (continued)*

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)
WB22-44	24.60	28.85	4.25	0.47
incl.	24.60	26.15	1.55	0.98
WB22-45	28.10	35.65	7.55	0.27
incl.	28.10	28.75	0.65	1.91
incl.	35.00	35.65	0.65	0.88
WB22-46	11.10	29.60	18.50	0.16
incl.	23.20	24.00	0.80	3.43
WB22-48	assays	pending
WB22-49	assays	pending
WB22-50	10.00	29.05	19.05	0.11
incl.	20.45	20.70	0.25	2.45
incl.	27.85	28.25	0.40	2.00
WB22-51	4.05	17.50	13.45	0.18
incl.	4.05	4.60	0.55	3.73
WB22-52	8.00	15.30	7.30	2.13
incl.	9.90	11.90	2.00	3.08
incl.	13.80	15.30	1.50	5.17
WB22-54	17.95	25.50	7.55	1.05
incl.	17.95	18.65	0.70	2.72
incl.	21.40	25.50	4.10	1.46
incl.	24.80	25.50	0.70	5.81
WB22-55	30.35	40.95	10.60	0.31
incl.	30.35	31.00	0.65	4.89
WB22-56	48.35	49.00	0.65	0.56
WB22-57	2.70	15.00	12.30	4.30
incl.	2.70	3.50	0.80	1.97
and	9.55	13.85	4.30	11.91
incl.	12.40	13.85	1.45	35.09
and	66.40	67.40	1.00	0.45
and	71.50	72.30	0.80	0.56
WB22-58	8.00	31.00	23.00	1.15
incl.	8.00	16.00	8.00	3.28
incl.	10.10	12.90	2.80	8.57
incl.	11.70	12.90	1.20	16.85
WB22-59	23.90	28.25	4.35	0.59
incl.	27.00	28.25	1.25	1.26

Table 2. Significant assay results from reported holes (continued)*

WB22-60	38.50	44.70	6.20	2.38
incl.	38.50	42.50	4.00	3.73
incl.	40.00	40.60	0.60	21.00
WB22-62	77.80	78.30	0.50	0.49
WB22-63	assays	pending
WB22-64	assays	pending
WB22-65	assays	pending
WB22-66	30.60	35.00	4.40	5.01
incl.	32.00	34.00	2.00	10.70
and	66.25	73.40	7.15	13.49
incl.	66.50	68.35	1.85	51.73

*Stated lengths in metres are downhole core lengths and not true widths.
True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

Table 3: Coordinates of reported drill holes

DDH #	Easting UTM Nad83	Northing UTM Nad83	Elevation (m)	Az (°)	Dip (°)	Length (m)
WB22-38	660 351	5 259 553	387	160	65	137
WB22-39	660 346	5 259 540	387	155	65	128
WB22-40	660 341	5 259 527	388	155	65	152
WB22-41	660 332	5 259 522	387	155	65	137
WB22-42	660 332	5 259 501	388	155	65	146
WB22-43	660 322	5 259 497	388	155	65	140
WB22-44	660 332	5 259 479	386	155	45	118
WB22-45	660 332	5 259 479	386	155	65	92
WB22-46	660 327	5 259 466	388	155	45	79
WB22-47	660 327	5 259 466	388	155	65	97
WB22-50	660 321	5 259 452	388	155	65	65
WB22-51	660 323	5 259 425	388	155	45	116.5
WB22-52	660 323	5 259 425	388	155	65	89
WB22-53	660 323	5 259 425	388	65	45	86
WB22-54	660 323	5 259 425	388	65	65	65
WB22-55	660 303	5 259 405	390	155	45	104.5
WB22-56	660 294	5 259 423	390	155	65	163
WB22-57	660 294	5 259 386	390	155	45	86
WB22-58	660 294	5 259 386	390	155	65	100
WB22-59	660 285	5 259 404	390	155	65	117
WB22-60	660 213	5 259 317	389	115	65	230
WB22-61	660 190	5 259 328	388	115	65	138
WB22-62	660 192	5 259 327	388	155	45	100
24 Holes						2,814 Metres

QUALIFIED PERSON
Dominique Gagné, PGeo, a qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release.

ON-SITE QUALITY ASSURANCE/QUALITY CONTROL ("QA/QC") MEASURES

Drill core samples are bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick, where each sample is crushed and pulped before being fire assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to standards, blanks, and duplicates. All samples over 10 g/t gold or with abundant visible gold are analyzed with gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

ABOUT Puma Exploration
Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share dilution.

Connect with us on Facebook / Twitter / LinkedIn
Visit www.explorationpuma.com for more information or contact:

Marcel Robillard ,
President, (418) 750-8510;
president@explorationpuma.com

Mia Boiridy ,
Head of Investor Relations and Corporate Development, (250) 575-3305; mboiridy@explorationpuma.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

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Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

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Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
Gold mineralization extends over 90 m from surface in a series of stacked high-grade quartz veins.
All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
Gold was intercepted at depth in areas never drilled before.
Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

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Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge. He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

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DDH #	From (m)	To (m)	*Length (m)**	Au (g/t)
WB23-133	30.95	61.80	30.85	0.59
	32.10	50.70	18.60	0.74
	32.10	38.00	5.90	1.36
	INDIVIDUAL SAMPLES IN WB23-133
	32.10	32.65	0.55	10.65
	37.40	38.00	0.60	3.24
	49.00	49.35	0.35	4.33
	50.20	50.70	0.50	8.25
	60.15	60.90	0.75	5.18
WB23-136	8.30	39.20	30.90	1.10
Incl.	8.30	11.40	3.10	3.93
and	37.15	41.00	3.85	5.55
Incl.	37.15	39.20	2.05	10.38
and	37.55	37.85	0.30	63.40
WB23-137	2.71	33.66	30.95	0.67
Incl.	2.71	5.50	2.79	5.00
Incl.	2.71	3.50	0.79	16.85
and	33.30	38.90	5.60	0.96
Incl.	33.30	33.66	0.36	14.25
WB23-138	32.10	35.80	3.70	1.63
and	124.20	147.00	22.80	0.49
	INDIVIDUAL SAMPLESS IN WB23-138
	107.08	107.65	0.57	1.28
	124.20	124.70	0.50	2.63
	133.65	136.80	3.15	1.02
	139.30	141.95	2.65	1.53
	144.70	145.50	0.80	1.20
	146.00	147.00	1.00	1.05
	175.75	176.10	0.35	7.42
WB23-139	6.50	157.00	150.50	1.10
incl.	7.35	10.35	3.00	2.01
and	89.95	153.00	63.05	2.49
incl.	89.95	92.50	2.55	21.66
and	134.60	153.00	18.40	5.51
incl.	149.50	153.00	3.50	27.33
and	210.40	215.60	5.20	2.06

DDH #	Station	Easting (m)*	Northing (m)*	Elevation (m)	Azimuth (°)	Dip (°)	Length (m)
WB23-133	L310E	660336	5259560	387	202	-45	107.30
WB23-134	L290E	660312	5259564	388	155	-65	122.00
WB23-135	L290E	660335	5259521	387	335	-55	100.00
WB23-136	L300E	660350	5259505	386	295	-55	92.00
WB23-137	L320E	660371	5259519	386	295	-50	87.00
WB23-138	L310E	660362	5259507	385	260	-45	257.00
WB23-139	L290E	660361	5259481	386	260	-45	230.00
* Projection: UTM Nad83 zone 19						Total:	995.30

Area/Target	Sample	UTM Nad83_X	UTM Nad83_Y	Lithology	Au (g/t)
Bonanza	J026525	630753	5265348	Quartz vein	362.00
Bonanza	J026503	630754	5265343	Quartz vein	267.00
Dome	J026519	630708	5265231	Quartz vein	2.72
Dome	J026523	630708	5265231	Quartz vein	4.76
Dome	J026526	630708	5265231	Quartz vein	24.70
Dome	J026801	630708	5265231	Quartz vein	9.47
Dome	J026803	630708	5265231	Quartz vein	1.19
Dome	J026805	630708	5265231	Quartz vein	1.57
Dome	J026806	630708	5265231	Quartz vein	2.33
Dome	J026809	630708	5265231	Quartz vein	0.17
T23-07	J026501	630682	5265099	Quartz vein	0.31
T23-07	J026502	630682	5267097	Quartz vein	0.69
T23-08	J026505	630707	5265195	Siltstone/fault	0.50
T23-09	J026506	630689	5265123	Quartz vein	0.16
T23-09	J026510	630691	5265122	Quartz vein	0.35
T23-11	J026511	630674	5265072	Quartz vein	0.64
T23-11	J026513	630676	5265071	Sandstone	0.22
T23-11	J026514	630694	5265066	Quartz vein	1.10
T23-12	J026518	630668	5265050	Shale/fault	0.90

DDH #	From (m)	To (m)	Length (m)	Au (g/t)
WB23-123	7.60	8.00	0.40	1.03
WB23-125	2.90	93.55	90.65	0.70
Incl.	42.05	92.90	50.85	1.05
Incl.	66.25	92.90	26.65	1.70
Incl.	75.40	92.90	17.50	2.32
Incl.	78.65	92.90	14.25	2.67
and	75.40	79.90	4.50	6.46
Individual samples
	2.90	3.95	1.05	4.60
	11.00	11.30	0.30	9.87
	37.30	37.60	0.30	4.30
	42.05	42.40	0.35	2.85
	55.50	55.90	0.40	16.60
	66.25	66.60	0.35	13.30
	75.40	75.80	0.40	4.45
	76.05	76.25	0.20	1.71
	78.65	79.50	0.85	11.20
	79.50	79.90	0.40	42.60
	87.15	87.45	0.30	3.67
	88.00	88.40	0.40	11.05
	90.45	90.80	0.35	2.44
	91.75	92.35	0.60	5.32
	92.35	92.90	0.55	1.46
WB23-127	85.90	86.40	0.50	1.50
WB23-128	95.15	95.65	0.50	16.10
WB23-129	42.90	53.00	10.10	3.30
Incl.	45.25	48.45	3.20	10.36
Incl.	48.07	48.42	0.35	29.20
WB23-131	46.25	65.60	19.35	0.54
Incl.	47.00	48.05	1.05	1.06
and	53.80	59.75	5.95	1.39
Incl.	57.60	58.10	0.50	12.35
WB23-132	85.50	89.65	4.15	3.18
Incl.	86.15	89.07	2.92	4.43
Incl.	86.15	86.70	0.55	15.70
and	87.64	88.56	0.92	4.04

DDH #	Easting (m)*	Northing (m)*	Elevation (m)	Azimuth (°)	Dip (°)	Length (m)
WB23-122	660246	5259235	386	335	-45	107.0
WB23-123	660256	5259214	386	335	-65	83.0
WB23-124	660213	5259379	392	155	-80	122.0
WB23-125	660263	5259293	386	330	-45	170.0
WB23-126	660242	5259412	389	155	-65	80.0
WB23-127	660237	5259421	389	155	-75	134.0
WB23-128	660236	5259382	389	155	-85	116.0
WB23-129	660263	5259417	389	155	-65	65.0
WB23-130	660207	5259347	388	155	-80	113.2
WB23-131	660227	5259340	389	165	-65	89.0
WB23-132	660303	5259443	388	230	-45	196.0

Sample #	Property	Work Type	East X	North Y	Rock Name	Au grade (g/t)
G237029	WB	Trench	660343	5259477	Quartz vein	288.00
G237027	WB	Trench	660341	5259474	Quartz vein	35.20
G239616	WB	Trench	660424	5259545	Quartz vein	26.00
G236936	WB	Trench	660238	5259246	Quartz vein	13.20
G236937	WB	Trench	660237	5259247	Quartz vein	12.45
G238377	WB	Trench	660872	5259928	Quartz vein	4.58
G236939	WB	Trench	660235	5259245	Quartz vein	3.98
G236941	WB	Trench	660239	5259246	Quartz vein	3.58
G236962	WB	Trench	660426	5259553	Quartz vein	3.46
G239606	WB	Trench	660426	5259549	Quartz vein	3.13
G237030	WB	Trench	660343	5259478	Quartz vein	2.78
G239605	WB	Trench	660426	5259551	Quartz vein	2.64
G236990	WB	Trench	660393	5259406	Quartz vein	2.53
G239629	WB	Trench	660388	5259401	Quartz vein	1.94
G236959	WB	Trench	660428	5259552	Quartz vein	1.72
G239787	WB	Trench	660465	5259531	Quartz vein	1.72
G236909	WB	Trench	660252	5259166	Quartz vein	1.59
G239609	WB	Trench	660425	5259548	Quartz vein	1.49
G236935	WB	Trench	660237	5259251	Rhyolite	1.37
G236931	WB	Trench	660243	5259248	Rhyolite	1.15
G236940	WB	Trench	660239	5259245	Quartz vein	1.08

Puma Exploration Discovers Several New High-grade Gold Zones at Williams Brook, Including 51.73 G/t Gold Over 1.85 M

1. Australia

2. Russia

3. South Africa

4. United States

5. China

6. Indonesia

7. Brazil

8. Peru

9. Canada

10. Uzbekistan

In this article

What physical gold product is best to buy?

What is the difference between the gold spot price and retail price?

Where can investors buy physical gold?

How and when to sell physical gold?

How should physical gold be stored?

Is it possible to purchase physical gold through the futures market?

What are some alternatives to physical gold?

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