Puma Exploration Focused on Building a Gold Camp at its Williams Brook Gold Project

Puma Exploration Focused on Building a Gold Camp at its Williams Brook Gold Project

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce its 2023 exploration strategy and objectives at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The Company aims to build gold ounces at the Lynx Gold Zone ("LGZ") and increase the gold inventory of the extensive property package.

About 70% of Puma's exploration budget will be deployed at the Lynx Gold Zone ("LGZ"), wherein 2021, 5.55 g/t Au over 50.15 m was intersected from surface, including two (2) main high-grade intercepts of 9.88 g/t Au over 8.60 m and 46.94 g/t Au over 3.85 m ( see Sept. 15, 2021 News release ). The remaining 30% of the budget will be directed on priority targets to identify new gold deposits on the entire 44,650-ha property package (Figure 1). The Company has received all work permits, including drilling permits, for its planned 2023 exploration programs.

Figure 1. Main gold showings and occurrences at the Williams Brook Gold Project

Main gold showings and occurrences at the Williams Brook Gold Project

Puma's President and CEO Marcel Robillard commented: " We continue to believe that the Williams Brook Gold Project is highly prospective for additional gold discoveries. Our work is focused on advancing exploration most efficiently and cost-effectively to prove that satellite gold deposits exist at Williams Brook and that the project has the potential to host millions of ounces of gold. We are committed to building a gold camp at Williams Brook and are excited about what lies ahead for Puma in 2023. "

The 2023 Ex plora tion Program

Located near the main highway, the Williams Brook Gold Project has excellent infrastructure access, facilitating exploration. The nearby towns of St-Quentin and Bathurst have a history of forestry and mining. The local communities support the industry and host a skilled labour force (Figure 2).

Figure 2. Williams Brook Gold Project in Northern New Brunswick

Williams Brook Gold Project in Northern New Brunswick

Puma has a long history in Northern New Brunswick. Having worked on projects in the region for more than 15 years. As a first mover, the Company quickly and strategically accumulated an impressive 60,554 ha of prospective gold landholdings in the area. Puma's successful exploration methodology combines old prospection methods with detailed trenching to facilitate an understanding of the geology and related mineralized systems with up-to-date technology, such as Artificial Intelligence ("AI"). With excellent geophysical surveys, geochemical data and consultants' expertise, Puma has developed a perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results.

The Lynx Gold Zone – 70% of the 2023 exploration budget

Since 2021, Puma has systematically drilled 13,100 m at the LGZ to target gold-bearing quartz veins found at the contact between rhyolite and sediments. A gold zone has now been defined 750 m along strike, 75 m wide and to a depth of ~100 m. Recent data compilation identified three (3) main areas of gold enrichment with several potential high-grade gold shoots that plunge 25 degrees NE (Figure 3). The 2023 drilling program will prioritize the extension of these high-grade gold shoots at depth and define the geometry of several high-grade gold veins containing disseminated sulphides with associated pathfinders (Ag-Bi-Cu-Pb-Sb-Te-Zn) for gold mineralization.

Figure 3. Gold enrichment drilling targets at the Lynx Gold Zone

Gold enrichment drilling targets at the Lynx Gold Zone

Table 1. Lynx Gold Zone drilling highlights

LYNX GOLD ZONE
Hole ID From (m) To (m) Interval (m) Au (g/t)
WB21-01 4.00 29.60 25.60 1.30
including 4.00 9.40 5.40 5.10
WB21-02 0.00 50.15 50.15 5.55
including 7.20 15.80 8.60 9.88
including 45.60 49.45 3.85 46.94
WB21-06 1.50 50.20 48.70 1.16
including 29.00 49.70 20.70 2.73
including 46.80 49.70 2.90 16.92
WB21-09 15.00 51.00 36.00 1.07
including 15.00 18.40 3.40 8.04
WB21-12 28.40 69.00 40.60 1.00
including 28.60 33.50 4.90 5.80
WB21-16 2.30 109.40 107.10 0.62
including 42.95 88.35 45.40 1.00
including 80.00 88.35 8.35 5.11
WB21-17 103.70 114.50 10.80 2.13
WB22-25 1.40 36.75 35.35 3.12
including 2.00 5.00 3.00 34.93
WB22-26 20.20 58.00 37.80 0.92
including 20.20 34.50 14.30 2.18
including 25.50 27.10 1.60 14.06
WB22-36 3.80 25.90 22.10 3.97
including 3.80 8.35 4.55 15.72
WB22-39 8.30 33.00 24.70 1.23
including 21.70 29.00 7.30 4.05
WB22-57 2.70 15.00 12.30 4.30
including 12.40 13.85 1.45 35.09
WB22-58 8.00 31.00 23.00 1.15
including 8.00 12.90 4.90 5.08
WB22-66 30.60 73.40 42.80 2.77
including 32.00 34.00 2.00 10.70
including 66.25 73.4 7.15 13.49
WB22-94 52.8 80.3 27.5 1.6
including 52.8 70.3 17.5 2.46
WB22-96 56.9 82 25.1 2.17
including 56.9 60.5 3.6 14.9

Additional drill holes will target the lateral extension of the Lynx Gold Zone (LGZ) for about 3 km along strike towards the northeast. In 2022, trenching operations discovered additional gold mineralization at the favourable contact, as shown in Figure 4. Those areas are currently being trenched and stripped to identify priority drilling targets and prepare the drill set-up.

Figure 4. Lynx Gold Zone 3km lateral extension towards NE

Lynx Gold Zone 3km lateral extension towards NE

Highlights of the 2023 exploration program at the Lynx Gold Zone (LGZ)

  • Drill 2,500 m to extend gold mineralization to ~ 200 m depth (see Figure 3).
  • Extend the current stripping over selected, high-grade gold veins at surface.
  • Collect grab samples on newly excavated veins.
  • Drill 2,500 m of step-out drilling along the 3 km NE extension of the LGZ (see Figure 4).
  • Continue to advance the metallurgical study and evaluate the bulk sample.
  • Launch baseline environmental surveys.

Building the gold camp – 30% of the exploration budget

The Williams Brook Gold Project has significant potential beyond the currently defined Lynx Gold Zone. The LGZ itself has major expansion potential, and another three (3) gold zones (the Jaguar ("JGZ"), Cougar ("CGZ") and Panthera ("PGZ) Gold Zones) have been identified at Williams Brook with impressive surface sampling results ( see Oct.20, 2022, Nov. 2, 2022, and Jan.19, 2023, News Releases ). Expanded stripping and trenching programs on previously identified gold occurrences will be undertaken to identify future drilling targets. Puma will also apply its successful low-cost discovery method to the other properties that comprise the Williams Brook Gold Project to identify other areas that could contribute to its gold inventory.

Highlights of the 2023 exploration program beyond the LGZ:

  • Expand trenching and sampling at the JGZ, CGZ and PGZ to identify future drilling targets.
  • Expand the LGZ beyond the currently identified 3 km NE extension. An excavator is already onsite, uncovering gold occurrences that have never been drilled. Additional sampling will identify targets for future drilling.
  • Prospect, map and sample other properties. A field crew, deployed the first week of May, continues to advance surface exploration at Jonpol. Sampling results will be announced when received.

Figure 5. The trenching operation currently in progress at the Williams Brook property

The trenching operation currently in progress at the Williams Brook property

About the Williams Brook Gold Project

Puma's flagship Williams Brook Gold Project comprises six (6) claims blocks covering more than 44,650 ha in Northern New Brunswick, an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure nearby. The land package is located near the Rocky Brook Millstream Fault ("RBMF"), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region.

Since 2021, and with only $7M of exploration investment, Puma has made four (4) significant gold discoveries at the Williams Brook property - the Lynx, Cougar, Jaguar and Panthera Gold Zones, with gold mineralization hosted in quartz veins at surface. The Lynx Gold Zone remains the company's focus. Still, Puma believes that a large orogenic/epithermal gold system is present at Williams Brook and is focused on building a gold camp on the large property package.

Qualified Person

The technical information of this release was reviewed and approved by Dominique Gagne, PGeo, a consultant of Puma and a qualified person as defined by the National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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 a gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

Upcoming Webinar

Puma invites shareholders and other interested parties to participate in a webinar on Thursday, June 1, 2023, at 4:00 pm EDT . Marcel Robillard, President and CEO, will provide an overview of the 2023 Exploration Program and answer questions.

Click on https://us06web.zoom.us/webinar/register/WN_Bfn8lQPNQYWhHreP_9ogRQ to register.

Upcoming Gold Investor Events

Puma invites shareholders and interested parties to schedule a meeting at the upcoming conferences to discuss the Company's recent news and proposed developments:

The Mining Investment Event of the North
Voltigeurs de Québec Armoury
June 19-21, 2023
Register for the event at VID Conferences | THE Event 2023

Please book your appointment with Mia Boiridy, Head of Investor Relations, at mboiridy@explorationpuma.com .

About Puma Exploration

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects near New Brunswick, Canada's Famous Bathurst Mining Camp ("BMC"). The Company is committed to deploying its DEAR strategy ( D evelopment, E xploration, A cquisition, and R oyalties) 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 and CEO, (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 several 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.

Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1b338ae6-08fa-4eef-a73d-8975182eb865  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/e1ddc1ba-04c8-4d69-bc24-595968212242  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/f6c6aaca-0d98-4873-ac91-f543a36e96e9  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/9cc5035a-3f6d-4fda-a2d4-626fa270cfe3  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/269be176-ef50-419b-b07f-79c1f8d73cbc


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

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 Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

  • Strategic gold property located along national road, only 10km from St-Quentin and 25km west of Williams Brook Flagship property.
  • High-grade gold structure, with initial surface sampling up to 362 g/t gold*.
  • Mineralization hosted in similar quartz veins within sedimentary package.
  • Similar depositional gold environment as Williams Brook Gold property.

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce that it has entered into a property agreement to strategically increase its substantial gold landholdings at the Williams Brook Gold Project (Figure 1). The newly optioned TIMM Gold Property, with grab samples* grading up to 267 gt gold and 362 gt gold (Table 1), marks another step towards Puma's development of a major gold camp in Northern New Brunswick.

Figure 1: Puma's assets and landholdings in Northern New Brunswick

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

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 Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline the ongoing progress of its 2023 exploration program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The program has successfully shown that gold mineralization extends to 150 m vertical depth at the Lynx Gold Zone ("LGZ") following Phase 1 drilling ( see August 23, 2023, News Release ). With assay results pending, the Company is now focused on demonstrating the continuity of gold mineralization along the 4 km extension of the Lynx Gold Trend ("LGT") to increase the total gold inventory of the 44,000-ha land package.

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Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Welcomes Jean-David Moore to its Advisory Board

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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 INN Interview Highlights Prismo Metals' Exploration in Palos Verdes , Los Pavitos , and Hot Breccia  Projects

INN Interview Highlights Prismo Metals' Exploration in Palos Verdes , Los Pavitos , and Hot Breccia Projects

(TheNewswire)

Prismo Metals Inc.

Investing News Network( INN)

During the Prospectors & Developers Association of Canada (PDAC) convention, the Investing News Network (INN), a premier source for resource and mining news and investor education, filmed interviews with experts and CEOs of leading companies. In a recent CEO Interview published on InvestingNews.com, Mari-Len DeGuzman interviewed Alain Lambert, the Executive Chairman of Prismo Metals (CSE:PRIZ) at PDAC. Lambert discussed updates and strategic plans for the company's silver, copper, and gold projects, including the latest on their collaboration with Vizsla Silver and forthcoming exploration efforts.

Strategic Collaboration and Exploration at Palos Verdes

Lambert reminded viewers that Palos Verdes, a silver prospect in Mexico, stands as one of Prismo Metals' flagship properties. Surrounded by Vizsla Silver Corp. (TSXV:VZLA) territory, which encompasses the remainder of the district, Prismo benefits from a strategic relationship with Vizsla. Following a recent $34 million bought deal closure by Vizsla, Lambert highlighted their ongoing collaboration, which includes a technical committee aimed at exploring the district's northeast.

With three successful drilling campaigns under their belt, Prismo Metals is preparing for a robust exploration program into Palos Verdes. Lambert expressed excitement about the upcoming fourth drilling campaign, which will extend into Vizsla's already permitted property, promising further insights into the prospect's potential.

Los Pavitos and Hot Breccia: Expanding Exploration Horizons

In addition to Palos Verdes, Prismo Metals is making waves with their Los Pavitos gold prospect, spanning over 5,300 hectares in the Sonora State, Mexico. The first drilling campaign in 2023 yielded exceptional results, extending the prospective zone significantly. Plans for geophysics and further drilling later this year are in place to capitalize on these findings.

Moreover, Lambert shed light on the Hot Breccia copper project in Arizona, poised to capture investors' attention. Awaiting drilling permits, Prismo anticipates initiating exploration on this property, situated in the heart of Arizona's copper belt. With historical data backing its potential, the focus will soon shift to twinning old holes, exploring the vast copper resources.

Investment Appeal and Future Focus

Addressing investors at PDAC, Lambert confidently positioned Prismo Metals as a compelling investment opportunity, drawing parallels with recent successes in the space, such as Hercules Silver Corp. (TSXV:BIG). With high expectations for the Hot Breccia project and continued exploration at Palos Verdes and Los Pavitos, Prismo Metals is dedicating substantial resources to uncover the next significant discovery.

As Prismo Metals gears up for a year filled with promising exploration activities and strategic collaborations, Lambert's message to investors is clear: keep a close eye on Prismo Metals. With a strong exploration strategy and potential for significant discoveries, Prismo Metals represents an intriguing opportunity in the mining sector.

For more insights on Primso Metals check INN's exclusive profile of the company:

https://investingnews.com/stocks/cse-priz/prismo-metals/

For complete coverage of The Prospectors & Developers Association of Canada (PDAC) 2024 visit: https://investingnews.com/pdac/

About the Investing News Network:

The Investing News Network (INN) is a leading source of independent news and educational content for investors. Since 2007, INN has been providing breaking news, analysis and expert commentary on the latest developments in the resources and mining, tech, and life science sectors. With a global network of reporters and analysts, INN is committed to providing accurate, timely and actionable information to investors.

For more information, please visit the Investing News Network website at InvestingNews.com .

Contact:

Chris Smith

CSO

Investing News Network

+1 (604) 688-8231

csmith@investingnews.com

Copyright (c) 2024 TheNewswire - All rights reserved.

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Steppe Gold Announces Amended and Restated Gold Prepay Agreement

Steppe Gold Announces Amended and Restated Gold Prepay Agreement

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce that Steppe Investments Limited, a wholly owned subsidiary of the Company, has entered into an amended and restated gold prepay agreement (the "Prepay Agreement") with Triple Flag International Ltd. ("Triple Flag") for an additional advance under its previously negotiated short-term gold prepay facility (the "Triple Flag Gold Prepay Facility").

Under the terms of the Prepay Agreement, Triple Flag has advanced additional funds of US$5 million to Steppe Gold or one of its affiliates. The Triple Flag Gold Prepay Facility will be repaid by the Company over five months, commencing on August 15, 2024, with five equal monthly deliveries of 530 oz of gold for a total of 2,650 oz delivered.

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Sylla Gold Announces Intention to Consolidate

Sylla Gold Announces Intention to Consolidate

Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") announces its intention to consolidate its issued and outstanding common shares (the "Common Shares") on the basis of three (3) pre-consolidation Common Shares for every one (1) post-consolidation Common Share (the "Consolidation"). No fractional Common Shares will be issued and any fractional Common Shares will be rounded down to the nearest lower whole Common Share.

The Consolidation is subject to the approval of the TSX Venture Exchange, applicable securities regulatory authorities, and the approval of the shareholders of the Company. The Company anticipates that it will hold its annual and special shareholder meeting in May, 2024.

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Antler Gold Further Consolidates Land Holdings in the Namibian 'Gold Corridor'

Antler Gold Further Consolidates Land Holdings in the Namibian 'Gold Corridor'

Antler Gold Inc. (TSXV: ANTL) ("Antler" or "Company") is pleased to announce the expansion of its land holding in Namibia. Two additional exploration licenses have been awarded to Antler by the Ministry of Mines and Energy of Namibia, pending issuance of environmental clearance, as well as the renewal of Exclusive Prospecting Licenses EPL-8010 and EPL-6408 (Erongo Central Gold Project).

Highlights

  • Two newly-awarded licenses, EPL-9134 and EPL-9135, expand the Paresis Gold Project land package to ~812 km2 (81,189 ha) within the highly prospective 'gold corridor' of Namibia (Figure 1 and Figure 2).
  • A gold project with high potential to host gold deposits similar to the Otjikoto Gold Mine (B2Gold), the Ondundu Gold deposit, as well as recent discoveries such as the Eureka Gold Project (Osino Resources) (Figure 1).
  • Additional potential on EPL-9134 for a Carlin-style gold deposit, referred to as the Victory Gold Target, an area with a large regional-scale thrust fault and numerous base metal (copper, lead and zinc) occurrences indicating a fertile mineral system (Figure 4).
  • The Erongo Gold Project, EPL-8010 and EPL-6408, bordering the Twin Hills Gold Project (Osino Resources-Yintai Gold Corp.[i]), has been granted renewal for another two years.

"We are pleased to announce the granting of new licenses, further strengthening Antler's presence in the emerging Damara Gold Province, referred to as the gold corridor of Namibia. With access to roughly 2,000 km2 in the Central and Northern Zones of the Damara Belt, Antler is strategically positioned to explore the significant potential of this region. Additionally, the renewal of EPL-8010 and EPL-6408 solidifies our Erongo Gold Project, providing contiguous land adjacent to the Twin Hills Gold Project recently acquired by Yintai Gold Corp. for C$368 million in an all-cash deali. Our commitment remains in maximizing shareholder value through strategic partnerships and ongoing exploration efforts," said Christopher Drysdale, CEO of Antler Gold Inc.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_001.jpg

Figure 1: Antler's land holding relative to in-country peers B2Gold Namibia (pink), Osino Resources Namibia (blue), and WIA Gold (green). Background image: ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_001full.jpg

Paresis Gold Project

The Paresis Gold Project is now made up of EPL-8711 (approx. 21,000 ha) and EPL-9135 (approx. 23,700 ha) situated between the towns of Otjiwarongo and Outjo, and EPL-9134 (approx. 36,400 ha) situated ~7km west of the town Outjo (Figure 2 and Figure 3). The project area is ~300 km from the capital Windhoek, in north central Namibia. Refer to News Releases dated February 5, 2024, and September 14, 2023, for more background on the Paresis Gold Project.

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Figure 2: Paresis Gold Project area comprising EPL-8711, EPL-9135 and EPL-9134 (Victory Gold Target) relative to in-country peers B2Gold Namibia (pink), Osino Resources Namibia (blue), and WIA Gold (green).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_003.jpg

Figure 3: Overview map of the Paresis Gold Project license EPL-8711 and new EPL-9135. Relevant geological units (250K Geology Source: Geological Survey of Namibia) overlain on ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_003full.jpg

Victory Gold Target

The Victory Gold Target is located within the new EPL-9134 (approx. 33,472 ha), situated 7 km west of the town Outjo, in north central Namibia, within the Northern Zone (NZ) and Northern Margin Zone (NMZ) of the Damara Orogenic Belt (Figure 2 and Figure 4). With this conceptual project, Antler is targeting Carlin-type/sediment-hosted disseminated gold in an area that has strong mineralization potential - regional-scale thrust, faults, layered and folded permeable carbonate host rocks, and existing base metal occurrences indicating hydrothermal activity.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_004.jpg

Figure 4: Overview map of the new Victory Gold Target on license EPL-9134. Relevant geological units (250K Geology Source: Geological Survey of Namibia) overlain on ESRI Earth natural colour satellite imagery.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5124/202401_99169bb444ff5808_004full.jpg

The EPL includes two of the tectonostratigraphic zones of the Damara Orogen, namely the NZ, and the NMZ, a narrow zone between the southern edge of the Northern Platform (NP) and the northern edge of the NZ (Miller, 2008)[ii] (Figure 5). The NZ comprises carbonates, schists and siliciclastics of the Swakop Group, whereas the NMZ comprises deep-water carbonates of the coeval Otavi Group, and siliciclastic rocks of the Mulden Group (Table 1), the highest stratigraphic unit of the Damara Supergroup. Two glacial horizons, i.e. the Chuos and Ghaub diamictites, subdivide the Swakop and Otavi Groups into subgroups (Table 1), providing distinct lithological and geochronological markers, but outcrops of the Chuos within the EPL are poor.

The sequences have been multiply folded and faulted (local and regional-scale) during the Pan-African Damara Orogeny during which the NZ has been thrust northwards onto Otavi, Mulden (NMZ) and pre-Damara rocks along the NE-trending, km-scale, deep-seated regional Khorixas-Gaseneirob Thrust (KGT), marking the edge of the NZ (Miller, 2008).

This deformation history provides ample structural pathways, the right plumbing for superheated gold-bearing hydrothermal fluid channelization up through the crust and into the highly-permeable carbonate host rocks where it is potentially deposited as microscopic gold within pyrite. Gold-bearing hydrothermal fluids also carry arsenic, mercury, antimony and thallium that are important pathfinder elements that will guide exploration.

Both the NZ and NMZ are host to numerous mineral deposits, including in the NZ the Otjikoto Gold Mine (B2Gold), the Ondundu and Eureka Gold Projects (Osino Resources) (Figure 1), the Okanjande Graphite deposit (Northern Graphite), the Okorusu Fluospar Mine, and in the NMZ, the Kombat and Berg Aukas polymetallic deposits, evidencing this geological environment's fertile nature.

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Figure 5: Tectonostratigraphic zones of the Damara Orogen (Miller, 2008).

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Table 1: Stratigraphy of the Victory Gold Project tenement.

SequenceGroupSubgroupFormationLithology
NamibBertramProto-Ugab terrace gravel
Karoo IntrusivesWolffsgrund Gabbro
Damara
Supergroup
Mulden
Navachab
Sandstone, greywacke, conglomerate
Swakop (NZ)KuisebSchist
KaribibMarble, limestone, schist, quartzite
Chuosdiamictite, iron-formation
UgabOrusewaSchist, phyllite
OkotjizeDolostone, schist, skarn
Otavi (NMZ)TsumebHuttenbergDolomite
ElandshoekMassive and laminated dolomite
GhaubDiamictite
AbenabAurosDolomite; minor shale and limestone
GaussMassive dolomicrite
Berg AukasDolostone
ChuosDiamictite; interbedded quartzite, schist and marble
Pre-Damara Basement - Huab Metamorphic ComplexQuartz-mica schist, quartzite, quartz-feldspar gneiss, migmatitic

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on organic royalty creation in Africa's Top-Ranked Jurisdictions. The Company continues to assess new regional opportunities with the aim of building a risk diversified business model, that allows the Company to generate short and long-term income whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors, B.Sc (Hons)., Exploration Manager of the Company, who is a registered Professional Natural Scientist (Pr.Sci.Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) and a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Futhermore, this information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, Antler Gold does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedarplus.ca.

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

For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439

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