Puma purchases 100% interest of Little Stull Lake Gold Project, Manitoba
Rimouski, August 15, 2013 – Puma Exploration (PUM-TSXV) purchases JV partner Tanqueray Exploration (TQY-TSXV) interest in the Little Stull Lake gold property in northern Manitoba. Under the terms of the purchase agreement, Puma has paid a cash payment of $75,000 and will issue 400,000 Puma’s shares. Tanqueray retains a royalty equal to 1% of Net Smelter Returns (NSR) from the Property. At any time after the Closing Date, Puma has the right to purchase half of the Royalty for CDN $1,000,000 and to purchase the other half of the Royalty for an additional CDN $2,000,000.
About Little Stull Lake
The Little Stull Lake property is located only 15 kilometers north of the Monument Bay deposit which contains 3.6 million ounces of gold (MGP news release 2013-06-17) and occurs in a similar geological environment. Puma holds now 100% interest in the property and a 100% interest, in the Edmund property (MEL pending) located to the west of Little Stull Lake. With this strategic acquisition Puma controls over 35 kilometers of strike length along the greenstone belt hosting the Gold Mineralization.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company's major assets are the Nicholas-Denys Project and Turgeon Copper Project in New Brunswick and the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada, which has been ranked as one of the top five places in the world to conduct mining exploration by the 2013 Fraser Institute Survey.
Learn more by clicking here: www.pumaexploration.com
The contents of this press release were prepared by Marcel Robillard. a Qualified Person as defined in NI 43-101. Neither 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. -30-
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