Puma Exploration Provides Corporate Update

Puma Exploration Provides Corporate Update

Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or "Puma") is pleased to provide an update on corporate matters, including the outcome of the extraordinary meeting of shareholders, the appointment of a new director, the grant of options and the execution of another property acquisition.

EXTRAORDINARY MEETING OF SHAREHOLDERS

The reduction of the stated capital of the Company's common shares submitted to shareholders for approval as set out in Puma Exploration Inc.'s circular dated January 2022 was approved at the extraordinary meeting of shareholders held virtually on March 9, 2022.

NOMINATION OF JACQUES DION TO PUMA'S BOARD OF DIRECTORS

Mr. Jacques Dion has been appointed to Puma's Board of Directors effective immediately. Mr. Dion has more than 30 years of experience in environmental assessment, the management and transportation of hazardous materials, as well as emergency spill response planning. Following the Lac-Mégantic rail disaster, he was Project Director for recovering and treating petroleum hydrocarbon impacted water. He was involved in 4 major northern military site clean-up projects: Resolution Island, FOX-C, Cape Christian, and Cape Dyer. Mr. Dion also designed a solid waste management plan for the City of Iqaluit. He is a Board member and founder of Avataani Environmental Services with a local Nunavik partner. He also acted as Vice-President and Board member for 14 years with Qikiqtaaluk Environmental Services, an Inuit firm located in Iqaluit.

" We're delighted to have Jacques join our Board.   ESG is woven into the fabric at Puma, and Jacques' experience will be very beneficial   as we continue to grow our Williams Brook Gold Project. With the addition of Jacques to the Board, our team has a demonstrated record of success in exploration, environmental assessments and mine start-ups. Puma is becoming a major player in the emerging New Brunswick gold space; we're assembling the know-how to ensure its continued success," commented Marcel Robillard, Puma's President and CEO.

ADDITIONAL PROPERTY ACQUISITION

Puma has signed a definitive agreement (the "Agreement") to acquire the Ferguson Brook mineral claims from Slam Exploration Inc. ("Slam"). The Ferguson Brook mineral claims comprise 42 claim units covering 912 hectares of prospective land adjacent to the Williams Brook Gold Project.

To earn 100% interest in the Ferguson Brook mineral claims, Puma agrees to issue Slam on closing:
(a) a $15,000 cash payment and 250,000 common shares of the Company;
(b) a $25,000 cash payment upon a Positive Preliminary Economic Assessment;
(c) a $50,000 cash payment upon a Positive Feasibility Study;
(d) a $100,000 one-time cash payment upon reaching Commercial Production.

The Ferguson Brook mineral claims are defined as two (2) properties. Property A comprises 35 claim units that Slam acquired by staking. Property B comprises a 7-unit portion of the Property that Slam acquired through an "Underlying Agreement" with a third party. Slam retains a 2% net smelter return ("NSR") royalty on any commercial production from Property A. Fifty percent of the NSR royalty (i.e.,1%) may be purchased by Puma for $1,000,000. Puma retains a right of first refusal on the remaining 1% NSR royalty that Slam holds.

Slam will retain a 1% net smelter return ("NSR") royalty on any commercial production from Property B. Fifty percent of the NSR royalty (i.e., 0.50%) on Property B may be purchased by Puma for $500,000. Puma retains a right of first refusal on the remaining 0.50% NSR royalty that Slam holds. Puma will respect the terms and assume the NSR commitment of the Underlying Agreement on Property B. The agreement is subject to the approval of the TSX Venture Exchange.

GRANT OF OPTIONS

Pursuant to its Stock Option Plan and subject to regulatory acceptance, Puma has granted an aggregate total of 650,000 incentive stock options to certain Company directors, advisers, and consultants. The options vest immediately and are exercisable at a price of $0.50 per common share until March 10, 2024.

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.

COVID-19 PRECAUTIONS

Puma has developed and implemented precautions and procedures compliant with Québec and New Brunswick's health guidelines. Strict protocols are in place to ensure the safety of all staff, thereby reducing the potential of community contact and spreading of the virus.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2161d64-f901-4bb4-8c15-7f101441f25a


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

PUMA:CA
The Conversation (0)
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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
David Erfle, gold bars.

David Erfle: Silver Staging "Powerful" Breakout; Plus Gold Stocks and Copper Squeeze

David Erfle, editor and founder of Junior Miner Junky, shares his short-term outlook for gold, saying it could see a healthy test of US$3,200 per ounce — or even US$2,950 to US$3,000.

Erfle also shares his thoughts on what's coming for silver and copper prices.

Keep reading...Show less
Auric Mining (ASX:AWJ)

Munda Gold Mine - Purchase of Mine Camp, Nickel Rights and Water Assets from WIN Metals

Auric Mining Limited (ASX: AWJ) (Auric or the Company) together with WIN Metals Ltd (ASX: WIN) (WIN Metals or WIN) are pleased to announce that the two parties have successfully agreed to the purchase of a package of WIN assets including all nickel and associated minerals rights, water access rights and a fully equipped mining camp all relating to Auric’s Munda Gold Mine.

Keep reading...Show less
Equity Metals

Equity Metals

Keep reading...Show less
Two people shaking hands in office with city skyline view.

Zijin Mining to Acquire Major Kazakh Gold Mine for US$1.2 Billion

China’s Zijin Mining Group (OTC Pink:ZIJMF,HKEX:2899,SHA:601899), the country’s largest producer of gold and copper, has agreed to acquire Kazakhstan’s Raygorodok gold mine for US$1.2 billion.

The deal, announced on Monday (June 30) through a filing to the Hong Kong Stock Exchange, furthers the company’s ambition of becoming one of the world’s top three gold producers by 2028.

Raygorodok is reportedly among the largest and most technologically advanced gold projects in Central Asia. It produced 6 metric tons of gold in 2024 at a production cost of US$796 per ounce, excluding non-cash items.

Keep reading...Show less

Latest Press Releases

Related News

×