Puma Exploration Doubles Its Jacquet River Project and Launches Drone Magnetic Survey

Puma Exploration Inc. (TSXV: PUMA,OTC:PUMXF) ("Puma" or the "Company") is pleased to announce that it staked 8,474 ha, more than doubled its land position at the prospective Jacquet River Project ("Jacquet River" or the "Project") in Northern New Brunswick, and secured approximately 17 km of major regional structures, including the Rocky Brook Millstream Fault and the Jacquet River Fault (Figure 1).

Marcel Robillard, Puma's President and CEO, commented: "With our understanding that major regional structures control mineralization in the region, as confirmed at our Williams Brook and McKenzie Gold Project, our proven discovery model, and with the recent increase in staking activity by other explorers, we moved quickly when the opportunity presented itself to secure additional prospective ground surrounding our Jacquet River property. This expanded land package significantly enhances the Project's exploration potential at the district scale."

Figure 1. Location of the Jacquet River Project 

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Originally staked by Puma in 2024 (blue contour on Figure 1), the Jacquet River Project is located approximately 10 km north of the Murray Brook Deposit and about 3 km from the Williams Brook Project (optioned to Kinross). The four (4) newly staked claims (6,346 hectares) bring the Project's total size to 12,112 hectares (Figure 2). There are no underlying agreements or NSRs for the Project.

Figure 2. Puma's assets and equity interests in Northern New Brunswick

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Approximately 17 km of the Rocky Brook Millstream Fault (''RBMF'') and the Jacquet River faults transect the property. The Rocky Millstream Fault system is a major structure hosting gold showings and other metallic mineralization in northern New Brunswick. The Jacquet River Fault is interpreted as a subsidiary fault of the (''RBMF'') and therefore represents an additional exploration target with significant potential. Very limited work has been conducted on the property to date. Several reported historical gold and silver occurrences in the vicinity indicate the potential for a large footprint of alteration and mineralization.

Puma will launch an inaugural exploration program at Jacquet River this summer. A drone magnetic survey will refine structural interpretation, identify priority sectors, and support the upcoming summer mapping and prospecting programs.

Puma Exploration'S DEAR STRATEGY

Jacquet River fits within Puma's DEAR strategy - Discovery, Exploration, Acquisition and Royalties - which is designed to create value through both direct exploration success and strategic monetization of non-core assets.

Following its gold discovery at Williams Brook in 2021, Puma spun out its base-metal and non-core assets to unlock their potential and maximize shareholder value through Puma's equity interests in other explorers and carried royalties on their projects (Figure 2). This approach provides Puma shareholders with diversified commodity exposure and significant upside potential from the spinoffs' success, while allowing Puma to maintain its primary focus on advancing its gold assets in New Brunswick.

As part of this strategy, Puma currently holds equity interests in several companies and maintains a portfolio of NSR royalties on selected assets. Puma currently holds (share prices at market close on May 1, 2026):

• 11,181,058 shares of Canadian Copper (CSE: CCI), trading at $0.68 CAD (~$7.6M)
• 23,951,040 shares of Raptor Metals Ltd (AUX: RAP), trading at $0.05 AUD (~$1.2M AUD)
• 2,700,000 shares of BWR Exploration Inc. (TSXV: BWR), trading at $0.015 CAD (~$40K)
• 23,644,165 shares of Murray Brook Minerals (not publicly listed)

Puma also maintains the following net smelter return (NSR) royalties:

• 2% NSR on Murray Brook West
• 2% NSR on Chester West
• 1% NSR on Beresford Copper
• 2% NSR on Little Stull Lake

QUALIFIED PERSON 

The scientific and technical content of this press release has been prepared, reviewed, and approved by Dominique Gagné, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

ABOUT Puma Exploration

Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metals projects in New Brunswick, near Canada's renowned Bathurst Mining Camp.

Puma has a long history in northern New Brunswick and has developed a strong understanding of the region's geology and mineralized systems through a combination of traditional prospecting, trenching, geophysics, geochemistry and advanced exploration techniques.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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 several known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Puma to differ materially from those 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. The quarterly and annual reports, as well as the documents submitted to the securities administration, describe these risks and uncertainties.

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