Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or
"Puma") is delighted to announce a strategic property acquisition,
the “Moose Brook property.” The 28 claims (608 ha) fill a gap in
the 100%-owned Williams Brook property, strengthening our position
in the region (Figure 1-2). Puma Exploration is the biggest
landholder in Northern New Brunswick and the most active explorer
in the area.
“This acquisition further adds to our
considerable ground position in Northern New Brunswick. Over the
past four years, we’ve completed many separate transactions to
consolidate a patchwork of mining claims held by many landowners.
Most mining claims had seen little to no modern exploration work
and had never been worked as a whole. Our exploration programs and
recent discoveries have shown that the property and surrounding
areas hold huge potential. We’re always looking to strategically
and judicially expand our holdings to generate more exploration
opportunities and maximize future returns,” stated Marcel
Robillard, President and CEO of Puma Exploration.
Figure 1. Location of the newly acquired claims
block (Moose Brook Property)
The Williams Brook property, a key component of
the Williams Brook Gold Project, has been a focal point of Puma’s
successful exploration programs. Following the Company’s initial
discovery of 5.55 g/t gold over 50.15 m in 2021 at the Lynx Gold
Zone, recent drilling intersected the same geology, structures, and
quartz mineralization known to carry gold along the trend’s 4 km
extension (see April 18, 2024 News Release).
Recognizing the immense potential of the area
and in alignment with the Company’s DEAR strategy
(Development. Exploration.
Acquisition. and Royalties), Puma
has prioritized the consolidation of the property package where it
envisions potential. This strategic acquisition is a testament to
our commitment to maximizing shareholder value while minimizing
expenditure and share dilution. Our low-cost exploration strategies
are most effective when the properties worked are located close to
each other, accessible by road, within driving distance from a
town, and can be worked all year round (Figure 2).
“Having worked in Northern New Brunswick for the
last 20 years, Puma has developed solid relationships with local
prospectors and developers who regularly bring new opportunities to
us. This allows us to secure a right of first refusal of sorts on
new discoveries. We can secure, test, and validate any option
agreement within the first year at a very low cost,” added Marcel
Robillard.
Figure 2. Mineralization potential near the
newly acquired Moose Brook property
*The reader is cautioned that grab samples are
selective by nature and may not represent the true metal content of
the mineralized zone.
Moose Brook Property
Agreement
To acquire a 100% undivided ownership interest
in the Moose Brook property (28 claim units), Puma will issue
225,000 common shares of the Company and make a $5,000 cash payment
to the property's owner following the signing of the agreement.
Additionally, Puma has agreed to the following:
- $25,000 cash payment to the owner
upon a positive preliminary economic assessment (PEA to be defined
in the definitive agreement);
- $50,000 cash payment to the owner
upon a positive feasibility study (FS to be defined in the
definitive agreement);
- One-time cash payment of $100,000
to the owner upon a commercial production (commercial production to
be defined in the definitive agreement).
The owner will retain a 2% net smelter return
(“NSR”) royalty on any saleable production from the property. Puma
may purchase 50% of the NSR royalty (1%) for $1 Million. Puma
retains the right of first refusal on the remaining 1% NSR royalty
held by the owner. The transaction is subject to TSX Venture
Exchange approval.
About the Williams Brook Gold
Project
Puma's flagship Williams Brook Gold Project
comprises four properties covering over 50,000 ha in Northern New
Brunswick—an established and mining-friendly jurisdiction near
paved roads and excellent infrastructure. 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.
Puma’s successful exploration model returned,
amongst others, 5.50 g/t gold over 50.15 m in hole
WB21-02 (see Sept.15, 2021, News Release), 2.77 g/t gold
over 42.80 m in hole WB 22-66 (see June 8, 2022, News
Release), 2.49 g/t gold over 63.05 m in WB23-139
(see Oct. 31, 2023 News Release), 5.15 g/t gold over 23.15
m in WB23-142 and 1.24 g/t gold over 98.05
m in WB23-145 (see Nov. 16, 2023 News Release).
Since 2021, with less than C$15 M of exploration
investment, Puma has made multiple gold discoveries at the Williams
Brook property and believes it hosts an extensive orogenic gold
system. Puma’s ongoing exploration programs are focused on building
a gold camp in Northern New Brunswick, Canada.
Dr. Gregg Morrison, a leading expert on
intrusion-related, porphyry and epithermal gold systems, stated:
“I believe Williams Brook is part of the same family of
gold systems as Fosterville and Sunday Creek in Australia and
Valentine Lake in Newfoundland.
These other deposits are known for their
structure-controlled mineralization, metal zoning, free gold in
bonanza shoots and kilometre scale depth extent. The similarities
to these more comprehensively explored deposits gives real
confidence to deeper drilling in the Lynx Zone and continued
exploration around the feeder structures in the Williams Brook
District.’’
Qualified Person
Dominique Gagné, P.Geo, a consultant of Puma and
a qualified person as defined by National Instrument
43-101—Standards of Disclosure for Mineral Projects, reviewed and
approved this release's technical information.
About Puma Exploration
Puma Exploration is a Canadian-based mineral
exploration company with precious metals projects in New Brunswick,
near Canada's Famous Bathurst Mining Camp ("BMC"). Puma has a long
history in Northern New Brunswick, having worked on regional
projects for over 15 years. As a first mover, the Company quickly
and strategically accumulated an impressive portfolio of
prospective gold landholdings in the area. Puma’s successful
exploration methodology combines old prospecting methods with
detailed trenching and up-to-date technology such as Artificial
Intelligence (“AI”) to facilitate an understanding of the geology
and associated mineralized systems.
Armed with 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.
Connect with us on Facebook / X/ 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) 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 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. The quarterly and annual reports and
the documents submitted to the securities administration describe
these risks and uncertainties.
Photos accompanying this announcement are
available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/52d4e114-fb0d-4f91-ae6f-c5bf87e7c181
https://www.globenewswire.com/NewsRoom/AttachmentNg/eb299dca-1a68-4e7a-b8a2-678f9976c97d
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