Rimouski, December 23rd, 2019 – Puma Exploration Inc. (the “Company” or “Puma”) is pleased to announce the closing of a second tranche of the current private placement. In this second Tranche, the Company raised a total of $111,060 for the issuance of 617,000 flow through units (“FT Units”) at the price of $0.18 per FT Unit. Each flow-through unit comprises one flow-through common share and one-half of one common share purchase warrant. Each full warrant gives its holder the right to purchase one common share at a price of $0.35 per share until Dec. 23, 2021. Up to an additional $555,940 could be raised by the Company in additional tranche closings for aggregate gross proceeds of the Offering of a maximum of $1,000,000. Accredited investors interested in participating in the current private placement are welcome to contact the company. The final closing is expected to occur on December 30th, 2019.

In connection with the second tranche, the company has paid cash finders’ fees in an amount of $8,884.80 and issued 49,360 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.18 for 24 months. All securities issued to purchasers and finders under the offering are subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The placement has received the conditional approval of the TSX Venture Exchange.The proceeds of the offerings will be used for the exploration and development of Puma Exploration’s properties in New Brunswick. Currently, a major trenching and stripping program is in progress at the Chester Copper property.

PUMA TO ISSUE 1M SHARES TO EL NINO VENTURES TO KEEP THE PURCHASE AGREEMENT IN GOOD STANDING UNTIL JUNE 30TH, 2019

By mutual agreement, Puma Exploration Inc. and El Nino Ventures have agreed to modify the terms of the amended and restated asset purchase agreement for the Murray Brook Property signed on Oct. 5, 2016, as amended thereafter. Pursuant to the amending agreement, Puma will issue 1M shares to El Nino at a deemed price of $0.12 and issue 500,000 warrants, valid for 3 years, at an exercise price of $0.25 in consideration for the total additional cash fees stipulated in the July 09th, 2019 amendment (refer to the news release of 09/07/2019). The amending agreement is subject to the approval of the TSX Venture Exchange.

“Considering the current market condition for base metals projects, we are very pleased with the amended terms reached between the parties which will let us to use our cash in hand for field work and potentially make new discovery while securing the purchase agreement with El Nino until June 30th,2020.”, commented Marcel Robillard, President and CEO of the Company.

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages. While our priority remains to finalize the acquisition of the Murray Brook project in New Brunswick, great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., qualified person as defined by 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. Mr. Robillard is not independent of the Company, as he is President of Puma Exploration.

You can visit us on Facebook / Twitter / LinkedIn

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

Rimouski, December 17th, 2019 – Puma Exploration Inc. (the “Company” or “Puma”) is pleased to announce the launch of a marketing and communication program which will be coordinated by Raphaël Fournier. Mr Fournier has been a director of Puma since 2018 and is currently the Chairman of the Audit Committee.

The main objective of the program is to increase the market visibility and the recognition of the company as a leader in exploration in the Bathurst Mining Camp of New Brunswick for the last 15 years. Mr. Fournier will enhance the synergy between all marketing and communications stakeholders and available tools such as the advertising products and publications, social media and web site updates, and the overall communications with shareholders.

PUMA EXPLORATION CLOSES FIRST TRANCHE OF $333,000 PRIVATE PLACEMENT

In this first tranche, the Company has raised a total of $333,000 for the issuance of 1,850,000 flow-through units (“FT Units”) at a price of $0.18 per FT Unit. Each flow-through unit comprises one flow-through common share and one-half of one common share purchase warrant. Each full warrant gives its holder the right to purchase one common share at a price of $0.35 per share until December 13, 2021. Up to an additional $667,000 is expected to be raised by the Company in additional tranche closings for aggregate gross proceeds of the Offering of up to $1,000,000.

In connection with the private placement, the company has paid cash finders’ fees in the amount of $25,200 and issued 140,000 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.18 for a period of twenty-four months. All securities issued to purchasers and finders under the offering are subject to a four-month holding period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The placement has received the conditional approval of the TSX Venture Exchange. The proceeds of the offerings will be used for the exploration and development of Puma’s properties in New Brunswick. Currently, a major trenching and stripping program is in progress at the Chester Copper property.

MARKET STABILIZATION AND LIQUIDITY SERVICES

Puma has, subject to regulatory approval, retained Mackie Research Capital Corporation to initiate its market making service to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

Mackie will trade shares of Puma Exploration on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Puma’s common shares. The agreement between Mackie and the Company is for one year term and the Company has agreed to pay Mackie $4,000 per month during the term, payable quarterly in advance. The engagement may be terminated by either party with written notice of 30 days.

The Company and Mackie act at arm’s length, but Mackie may provide investment banking services to Puma and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Puma. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company’s common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.

NOMINATION OF RAPHAËL FOURNIER AS DIRECTOR OF CORPORATE COMMUNICATIONS

Considering the growing need for public companies to keep their investors informed as well as the need to increase the visibility of Puma, senior management has appointed  Mr. Fournier as Director of Corporate Communications. In collaboration with external partners of Puma, Mr. Fournier will have the mandate to increase the visibility of the company, while increasing the efficiency of communications, both internally and externally. In line with the company’s DEAR strategy, Mr. Fournier will also standardize the corporate image and branding of Puma.

Raphaël Fournier graduated with a Bachelor of Business Administration degree (B.A.A.) in 2000 from the Université du Québec à Rimouski (UQAR). He also holds a certificate in Environmental Science obtained in 2016. From 2000 to 2002, he acted as Data Management Analyst at the Laurentian Bank of Canada Head Office. From 2005 to 2008, he worked for Desjardins Group as a Financial Advisor. For the period of 2007 to 2013, he was president and CEO of the privately held firm Groupe BRF. Since 2010, he has been conducting compliance audits in various fields of activity on behalf of the Bureau de Normalisation du Québec (BNQ).

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages. While our priority remains to finalize the acquisition of the Murray Brook project in New Brunswick, great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., qualified person as defined by 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. Mr. Robillard is not independent of the Company, as he is President of Puma Exploration.

You can visit us on Facebook / Twitter / LinkedIn

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

Rimouski, November 13th, 2019 – Puma Exploration Inc. (the “Company” or “Puma”) is pleased to announce that following the initial data compilation and preliminary field reconnaissance, the Company has added 139 additional claims units for a total of 3,054 additional hectares surrounding the original Chester property boundary. The Chester property has almost doubled in size and is now composed of 303 claims covering a total of 6,654 hectares (66.5 km2) strategically located approximately 25 kilometers south west of three major VMS deposits: Halfmile Lake, Stratmat, and Heath Steele.

The additional claims cover adjacent areas with excellent exploration potential derived from new interpretation of the local geology, the structural features, the geophysical signatures, and already defined targets predicted by CARDS Artificial Intelligence (AI) technology completed by Windfall Geotek (TSXV-AIIM) for the entire Bathurst Mining Camp in 2013.

Puma has reviewed the CARDS AI evaluation generated for the Bathurst Camp and has decided to hire Windfall Geotek to proceed with a more detailed, property scale, evaluation of the Chester property. The goal is to refine the regionale VMS signature and to assist us in finding new mineralized areas with the same geological features of the Chester Deposit.

CHESTER PROPERTY HIGHLIGHTS

 Previous Mining Development included a portal and ramp (600m) development driven into the copper feeder (Stringer) zones on two (2) stopes from which 30,000 tonnes bulk samples grading 2.0% Cu were mined by the Sullivan Group in the early ’70s.

 Historical Resources estimate on the West Zone (Copper Stringer) of the Property with of 3,489,000 tonnes grading 1.30% Cu reported in 2008 and updated in 2014*.

 Robust Metallurgical Test conducted to date indicates that concentrate grades in the range of 27-28% Cu could be produced at copper recoveries of 97-98% by standard flotation circuits.

 Significant Exploration Potential with strong exploration targets remain uninvestigated and include Cu-Pb-Zn soil anomalies, gravity and magnetic geophysical anomalies including the newly CARDS targets.

* Puma has not taken steps to identify what work needs to be undertaken to upgrade or verify the historical resource estimate as current mineral resources or mineral reserves. A qualified person from Puma or independent third party has not done sufficient work to classify the historical resource estimate as a current resource estimate or current mineral reserves. Puma is not treating the historical resource estimate as a current resource estimate or mineral reserves. There is no certainty that additional work will replicate the initial results.

ABOUT CHESTER

The Chester property is known to contain a copper Deposit containing three (3) zones; the Central Zone, the East Zone, and the West Zone (Copper Stringer) located at the surface. Only the West Zone has been included in the NI 43-101 resources calculation in 2008 and updated in 2014. The copper deposit has historical measured & indicated resources of 1,400,000 tonnes grading 1.38% Cu and 3.5 g/t Ag and inferred resources of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu only) as reported in the NI 43-101 Technical Report entitled “Technical Report – Chester Copper Property New Brunswick Canada” (effective March 07, 2014) prepared by Robert C. Sim, P. Geo., for Explor Resources and filed on www.sedar.com. Puma is not treating the “historical resources estimate” as a “current resources estimate” or “mineral reserves”, as it has not taken steps to identify what work needs to be done to verify, upgrade or re-classify the “historical resources estimate” using a qualified person from Puma or independent third party.

Significant previous drill results at Chester property

 

Feeder Zone (Surface to 50m) Massive Sulphide Zone (Surface to 50m)
4.8% Cu over 20.3 meters 10.8% Zn + 4.5% Pb over 5.6 meters
3.4% Cu over 25.0 meters 7.4% Zn + 2.3% Pb over 6.1 meters
6.0% Cu over 13.1 meters 8.0% Zn + 3.9% Pb over 7.0 meters
8.0% Cu over 5.2 meters 8.5% Zn + 4.0% Pb over 7.9 meters
4.9% Cu over 14.2 meters 7.0% Zn + 2.6% Pb over 15.6 meters

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages. While our priority remains to finalize the acquisition of the Murray Brook project in New Brunswick, great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., qualified person as defined by 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. Mr. Robillard is not independent of the Company, as he is President of Puma Exploration.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

 

RIMOUSKI, November 06th, 2019 – Puma Exploration Inc. (TSXV: PUMA) (the “Company” or “Puma”) is pleased to announce its Precious Metals Evaluation Program (PMEP) on the Murray Brook Deposit. The first 207 samples, covering 2 holes of the 2018 metallurgical drilling program, have been received from the laboratory for gold assaying. In hole MB18-07, the massive sulphide contains a broad gold and silver enrichment over its entire length with 0.67 g/t Au and 96 g/t Ag over 87.0 meters. The higher gold results obtained in this hole are located at the footwall contact with the altered sediments with 1.15 g/t Au and 87 g/t Ag over 22.0 meters (see accompanying section)

Table 1. Significant Gold Drill Results from the Ongoing PMEP

Drillholes From To Length ALS* Caribou Lab** Caribou Lab** Caribou Lab**
# (m) (m) (m) Au g/t Ag g/t Zn + Pb % Cu %
MB2018-05 110.0 230.0 120.0 0.39 70 8.20 0.11
incl. 180.0 230.0 50.0 0.68 95 11.77 0.13
incl. 193.0 213.0 20.0 0.82 172 20.73 0.12
MB2018-07 155.0 242.0 87.0 0.62 96 9.20 0.13
incl. 155.0 168.0 13.0 0.61 146 12.74 0.14
incl. 181.0 193.0 12.0 0.75 243 21.39 0.19
incl. 220.0 242.0 22.0 1.15 87 11.32 0.23

* New gold results from the current PMEP.

**Silver and Base Metals assayed at Caribou Mine Lab. Results released on August 29th, 2018 (see news).

The Murray Brook Deposit contains precious metals in its main three (3) metallogenic sub-domains which are, from surface to bottom; the Gossan Zone, the Oxide Zone and the main Massive Sulphide Zone. The evaluation program (PMEP) includes the study of the gold and silver zonation, the precious metals association and respective recovery within the main three (3) metallogenic sub-domains of the Murray Brook Deposit. The different mining and milling options available are also being evaluated to recover the maximum value of the precious metals contained.

“The PMEP and gold assaying program will allow Puma to cost-effectively enhance the understanding of the polymetallic mineralization of the Murray Brook Deposit in relation to its precious metal potential. The current programs are conducted on the in-hand core drilled from Votorantim, Puma, and Trevali previous programs in order to get the most benefit from the previous drilling investments”. Notes Marcel Robillard, President and CEO of Puma Exploration.

HIGHLIGHTS OF CURRENT PMEP

* Puma has not done sufficient work to classify the historical estimate as current estimates. The Company is not treating the historical estimates as a current estimate but is currently conducting a review of the previously drilled core available after the mining operations ceased to evaluate the size of the fertile gossan zone.

** Historical resources from: TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT (PEA) OF THE MURRAY BROOK PROJECT NEW BRUNSWICK, CANADA for VOTORANTIM METALS CANADA INC. AND EL NINO VENTURES INC. By P&E Mining Consultants Inc with Effective Date: June 4, 2013. Puma has not done sufficient work to classify the historical estimate as current estimates. The Company is not treating the historical estimates as a current estimate but has conducted an AMENDED AND RESTATED TECHNICAL REPORT AND UPDATED MINERAL RESOURCE ESTIMATE ON THE MURRAY BROOK PROJECT NEW BRUNSWICK, CANADA for the high-grade portion of the Murray Brook Deposit by P&E MINING CONSULTANTS INC. Effective Date: December 21, 2016.

Table 2. Selected Drill Results for Gold and Silver Content in the Massive Sulphide

HoleID From To Length Au g/t Ag g/t Zn % Pb % Cu %
MB-2011-04 150.00 213.00 63.00 1.50 49 2.61 1.35 0.45
incl. 195.00 212.00 17.00 2.00 48 2.95 1.48 0.48
MB-2011-08 8.00 43.00 35.00 1.64 55 2.15 1.28 0.29
MB-2011-10 201.50 216.00 14.50 2.04 89 5.92 2.76 0.43
MB-2011-14 203.00 217.00 14.00 2.01 83 11.34 2.38 0.18
MB-2011-39 189.00 214.00 25.00 1.28 101 9.12 3.26 0.17
MB-2011-41 25.00 130.00 105.00 1.05 42 1.79 0.82 0.85
incl. 26.00 32.00 6.00 2.12 84 2.04 1.40 0.55
MB-2011-44 69.00 94.00 25.00 1.34 52 2.07 1.14 0.30
MB-2011-49 129.00 162.00 33.00 1.70 125 7.10 3.13 0.35
incl. 138.00 157.00 19.00 2.01 138 8.18 3.88 0.39
MB-2011-52 208.00 218.00 10.00 2.18 146 9.46 4.16 0.56
MB-2011-63 203.00 246.00 43.00 1.25 74 3.65 1.62 0.27
incl. 222.00 239.00 17.00 2.01 116 5.89 2.57 0.45
MB-2012-66 28.05 62.00 33.95 1.48 61 2.65 1.38 0.30
incl. 28.05 40.00 11.95 2.02 63 2.08 1.22 0.40
MB-2012-70 211.00 237.00 26.00 1.47 137 10.73 4.20 0.39
incl. 222.00 233.00 11.00 2.53 173 10.90 4.79 0.54
MB-2012-77 166.00 226.00 60.00 1.24 70 4.43 1.71 0.25
incl. 204.00 224.00 20.00 2.74 80 5.69 1.73 0.55
MB-2012-78 12.00 22.00 10.00 1.82 50 1.97 1.02 1.64
MB-2012-80 90.60 111.00 20.40 1.44 57 2.45 1.21 0.28
MB-2012-88 89.45 113.50 24.05 1.33 58 3.10 1.37 0.34
MB-2012-90 151.16 240.00 88.84 1.17 103 6.99 2.92 0.20
incl. 215.00 240.00 25.00 2.60 124 8.38 4.11 0.42
MB-2012-91 109.00 162.00 53.00 1.02 55 2.46 1.22 0.31
MB-2012-94 134.00 196.10 62.10 1.24 41 1.88 0.97 0.42
MB-2012-97 125.00 180.00 55.00 1.30 64 2.63 1.22 0.38
MB-2012-99 202.00 238.00 36.00 2.01 46 1.91 0.94 0.93
incl. 203.00 218.00 15.00 2.33 60 1.82 0.94 1.46
MB-2012-101 118.00 160.00 42.00 1.11 53 2.25 1.12 0.32
MB-2012-104 165.00 240.00 75.00 1.19 46 1.73 0.96 0.65
incl. 214.00 240.00 26.00 1.80 57 2.04 1.24 0.45
MB-2012-121 42.00 136.20 94.20 1.07 51 2.25 1.00 0.46
incl. 42.00 58.00 16.00 2.21 66 3.13 1.19 0.33
MB-2012-132 162.00 202.00 40.00 1.32 110 9.49 3.16 0.14
MB-2012-161 177.00 247.00 70.00 1.18 93 6.04 2.14 0.28
incl. 226.00 246.00 20.00 2.59 109 8.12 2.87 0.44
MB-2012-162 219.10 238.15 19.05 2.16 47 1.48 1.04 1.94
incl. 224.00 234.00 10.00 2.72 58 1.85 1.43 0.64

DEAR STRATEGY

Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced- and early-stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR (development, exploration, acquisition and royalties/ownership) strategy to generate value to its shareholders.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., qualified person as defined by 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. Mr. Robillard is not independent of the Company, as he is President of Puma Exploration. The samples are prepared, sent, processed at ALS Moncton, New Brunswick. All samples were assays by AU-AA26 method. QA/QC are monitored by the analysis of blanks, reference material and replicate samples at a frequency of one (1) of each per 30 samples.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

 

Rimouski, October 28th, 2019 – Puma Exploration (PUMA-TSXV) has completed the acquisition of the Portage Lake (Cu-Ni-Co) and Jonpol Gold (Au) projects, as previously announced on October 15th and 17th, 2019.

At Portage Lake, additional field reconnaissance by the prospectors lead to the discovery of a mineralized breccia within a skarn horizon located in proximity to the mafic intrusion (6km by 4km). Grab sample was collected at the site and graded 1.03% Co and 0.63 g/t Au; being the highest cobalt and gold results obtained so far on the property. Following the receipt of the assays, Puma is mobilizing an excavator to evaluate the significance of the new discovery. Other areas will also be trenched on the property at the same time. The adjoining Jonpol Gold property will be trenched following Portage Lake to help define potential drill targets on both properties.

The Portage Lake (Cu-Ni-Co) project contains several showings with the most promising discovered in the last trenching program conducted on the property in 2017. The prospector excavated an area of 100 metres composed mainly of skarn alteration containing 50 metres of massive sulphide showing significant iron, copper, nickel, and cobalt. Grab samples grading 0.2 g/t Au and 0.60 g/t Au were collected just north of this recent trench. Very limited work has been conducted on the property, which offers huge potential for new discoveries.

The Jonpol Gold (Au) project contains numerous gold occurrences associated with gabbroic intrusions located along a major subsidiary fault of the Rocky Brook Millstream Fault (RBMF). Grab samples collected in trenches reported grades of: 17.1 g/t Au14.8 g/t Au10.6 g/t Au6.8 g/t Au5.1 g/t Au, and 3.4 g/t Au. Very limited diamond drilling has been done on the property which is underlained by sedimentary rocks and mafic intrusives. Drill results reported were 1.13 g/t Au over 12.0m, 1.37 g/t Au over 6.0m, 1.37 g/t Au over 1.4m, 3.89 g/t Au over 1.0m, and 2.78 g/t Au over 1.5m.

 

In order to acquire 100% interest in these projects, Puma has issued 450,000 shares for Portage Lake (Cu-Ni-Co) and 400,000 shares for Jonpol Gold (Au) to the prospectors. There is no minimum work commitment. These acquisitions were part of the DEAR strategy aimed at generating value to Puma’s shareholders. Following the acquisition of the Portage Lake (Cu-Ni-Co) and Jonpol Gold (Au) projects, the Company has 28,459,972 shares outstanding.

 

DEAR STRATEGY

Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced and early-stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR (development, exploration, acquisition and royalties/ownership) strategy to generate value to its shareholders.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., qualified person as defined by 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. Mr. Robillard is not independent of the Company, as he is President of Puma Exploration.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

Rimouski, October 21st, 2019 – Puma Exploration (PUMA-TSXV) is pleased to announce that following its press release of October 15, 2019, it has obtained all necessary approvals from the TSX Venture Exchange to consolidate its common shares on the basis of 10 pre-consolidation common shares for 1 post-consolidation common share. The consolidation will be effective at the opening of markets on Friday, October 25, 2019 (the « Effective Date »). The symbol for the common shares of Puma remains unchanged.

At the Effective Date, Puma will have 27,609,972 post-consolidated common shares issued and outstanding.

Puma has already sent a letter of transmittal to its registered shareholders outlining the procedures to follow in order to exchange their current certificates representing common shares of Puma for share certificates or DRS Advice Statements representing the post-consolidation common shares. Shareholders are asked to carefully read the instructions on the letter of transmittal in order to proceed with such exchange and can contact TSX Trust Company at 1-866-600-5869 for any questions in connection with the exchange.

 

DEAR STRATEGY

In connection with the current reorganization of the Company, Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

  

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced and early stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR strategy to generate value to its shareholders. Puma is currently holding one of the largest land packages in the prolific Bathurst mining camp in northern New Brunswick, Canada.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

Rimouski, October 17th, 2019 – In line with its DEAR Strategy, Puma Exploration (PUM-TSXV) has signed a purchase agreement to acquire the Jonpol Gold Project located in the Murray Brook area from local prospectors. Numerous gold occurrences have been identified and are associated with gabbroic intrusions located along a major subsidiary fault of the Rocky Brook Millstream Fault (RBMF). Grab samples collected in trenches reported grades of 17.1 g/t Au14.8 g/t Au10.6 g/t Au6.8 g/t Au5.1 g/t Au, and 3.4 g/t Au. The RBMF represents a major structure trending ENE formed by the Acadian Orogeny. It hosts numerous showings and deposits and represents a perfect plumbing system for mineralized fluids.

The Jonpol Gold Project covers 16 claim blocks for 2,745 hectares and is located only 5km North-West of the Murray Brook Project. Very limited diamond drilling has been done on the property which is underlained by sedimentary rocks and mafic intrusions. Drill results reported were 1.13 g/t Au over 12.0m, 1.37 g/t Au over 6.0m, 1.37 g/t Au over 1.4m, 3.89 g/t Au over 1.0m, and 2.78 g/t Au over 1.5m.

In 2017 and 2018, till samples were collected and gold grain count analyses of heavy metal concentrates (HMC) were carried out. The till surveys identified a significant anomaly in the eastern part of the property with up to 19 gold grains that included 9 pristine and 8 modified, indicating a limited glacial transport. Grade of 923 ppb Au for the HMC sample was reported.

The Purchase Agreement covers the Jonpol Gold Project located in Northern New Brunswick. Puma will acquire a 100% interest in the claims by issuing 4,000,000 shares (pre-consolidation). The vendors keep a net smelter royalty (NSR) of 2%. Puma retains the right to repurchase 1% NSR for $1,000,000. Puma must keep the claims in good standing but does not have any minimum work commitments. The transaction is subject to the TSXV Exchange approval.

DEAR STRATEGY

In connection with the current reorganization of the Company, Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced and early stage precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR Strategy to generate value to its shareholders. Puma is currently holding one of the largest land packages in the prolific Bathurst mining camp in northern New Brunswick, Canada.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

Rimouski, October 15th, 2019 – In line with its DEAR Strategy (Development, Exploration, Acquisition and Royalties/Ownership), Puma Exploration (PUM-TSXV) has signed a purchase agreement to acquire the Cu-Ni-Co Portage Lake Property (4,350 hectares) located in the Murray Brook area from local prospectors. The property covers a Devonian mafic intrusion (4km by 6km) and its associated skarn horizons of the Chaleur Group, containing both significant Copper-Nickel and Cobalt mineralization.

The Portage Lake Property contains several showings with the most promising discovered in the last trenching program conducted on the property in 2017. The prospector excavated an area of 100 meters consisting of mainly skarn alteration containing 50 meters of Massive Sulphide showing significant Iron, Copper, Nickel and Cobalt. Grab samples grading 0.2 g/t Au and 0.6 g/t Au were collected just north of this recent trench. To be noted that NO samples were assayed for Pt-Pd group elements yet. Very limited advanced work has been conducted on the property which offers huge potential for new discoveries.

 

Table 1: Grab Samples Collected from trenching in 2017

Samples Cu (%) Ni (ppm) Co (ppm) Fe (%)
8836267 0.34 700 710 21
8836269 0.21 460 640 36
8836266 0.21 330 560 15
8836262 0.20 390 620 34
8836260 0.21 490 630 26
8836255 0.15 250 470 24
8836265 0.12 380 490 21
8836254 0.10 120 400 24

“The acquisition of the Portage Lake Cu-Ni-Co property consolidates our land holdings in the western part of the Murray Brook area with more than 10,000 hectares now under control. The Portage Lake Property offers a variety of different metals exposures such as Nickel-Cobalt that could potentially allow us to make new discoveries, adding to our diversified portfolios in precious and base metals. The mafic Portage intrusion could be the potential heat source of the proximal VMS deposits but also contains skarns and epithermal Gold deposits” said Marcel Robillard, CEO and President of Puma Exploration.

The Purchase Agreement covers the Portage Lake Project (Claim Blocks 8094, 8392, 8393) located in Northern New Brunswick. All the claims are in good standing until March and September 2020. There is no minimum work commitment on Puma’s part but to keep the claims in good standing. Puma will acquire a 100% interest in the Portage Lake claims by issuing 4,500,000 shares (pre-consolidation). The vendors keep a net smelter royalty (NSR) of 2%. Puma retains the right to purchase 1% NSR for $1,000,000.

 

UPDATE ON THE RESTRUCTURATION

Following the strong support received from its shareholders and as indicated in the press release of October 3, 2019, the Board of Directors has decided to implement the consolidation of the shares of Puma on the basis of one (1) new common share for each tranche of ten (10) common shares currently issued and outstanding.

Consequently, Puma obtained from Corporations Canada, a certificate of amendment dated October 10, 2019, consolidating its common shares on the basis of 1-for-10, reducing the number of issued and outstanding shares to 27,609,972. Puma is currently working to finalize the necessary documentation with the TSXV in order to set a date on which the shares of Puma will begin to trade on a post-consolidation basis. A press release will be issued as soon as new information becomes available.

 

DEAR STRATEGY

In connexion with the current reorganization of the Company, Puma has defined a four-part strategy for 2019-2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR).

Each part of this strategy is aimed at generating value for shareholders and are defined as follows:

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR strategy to generate value to its shareholders. Puma is currently holding one of the largest land packages in the prolific Bathurst Mining Camp in Northern New Brunswick, Canada.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

RIMOUSKI, October 10, 2019 – Puma Exploration Inc. (TSXV: PUMA) (the “Company” or “Puma”) is pleased to announce an amendment to the October 5, 2016 Agreement (the” Agreement”) with BWR Exploration Inc. (TSXV: BWR) in regards of the Little Stull Lake Gold Project.

Puma and BWR have agreed to extend the minimum exploration expenditure of $1.5M for one year, until October 5th, 2020. In exchange of the extension given, BWR shall issue to Puma 1,000,000 shares of the Company on or before November 4, 2019.

‘’This agreement is an integral part of our newly development plan and strategy to create value to shareholders (DEAR). Following the current amendment, Puma will hold 5,750,000 shares of BWR Exploration Inc. (TSXV: BWR) which will represent an ownership of about 8% of the Company. BWR is exploring for Gold in Manitoba, which give Puma an indirect exposure for the gold recent renewed interest’’ Notes Marcel Robillard, President and CEO of Puma Exploration.

DEAR

Within the current reorganisation of the company, Puma has defined a four-part strategy for 2019-20 and beyond: Development, Exploration, Acquisition and Royalties/Ownership (DEAR). Each of the strands is aimed to generate value for shareholders.

The Development at the Murray Brook Deposit of which the gossan and the oxide Zones will be investigated in terms of the economics and upside potential of the precious metal contents and recovery with the goal of converting the surface zones material that was categorized as waste to potential mineable ore.

The Exploration at our advanced current projects Murray Brook Deposit and Chester Property to discover new satellite and contiguous deposits with our drill-ready targets. The goal is to define the best 10 drilling targets at Murray Brook and Chester.

The Acquisition of prospective new properties using our expertise and knowledge developed since the last 15 years of exploration in New Brunswick to offer a variety of different metals exposure and potentially make new discoveries.

The Royalties and ownership gained through the sell-off of non-core assets to third parties represent a potential major financial upside within dilution. Currently, Puma holds 14,200,000 shares (48%) of Targets Minerals Inc. (1% NSR on Nicholas-Denys) and 23,644,165 shares (100%) of Murray Brook Minerals Inc. (0.67% NSR on Murray Brook) and will hold 5,750,000 shares (8%) of BWR Exploration Inc. (1% NSR on Little Stull Lake).

DETAILS OF THE AMENDED AGREEMENT

The Little Stull Lake Property Agreement stipulates that if BWR does not incur exploration expenditures for an amount of at least $1,500,000 on the Little Stull Lake Property by October 5, 2019, BWR is required to issue within 30 days of October 5, 2019, 5,000,000 of the Company’s shares to Puma.  BWR has advised Puma that it has not to date expended the $1,500,000 required pursuant to Section 2(e) of the existing Agreement.

 

Consequently, BWR and Puma have agreed to amend the Agreement as follows:

  1. BWR shall issue to Puma 1,000,000 shares of the Company on or before November 4, 2019
  2. the Agreement is amended as follows:
  3. subparagraph ii) of Section 2(b) is deleted, and
  4. paragraph (e) of Section 2 of the Agreement is amended as follows:
  5. the period of “36 months” is replaced by a period of “48 months”, thereby extending the time period in which the Company must occur expenditures to the Little Stull Lake Property in Manitoba, and
  6. the amount of “5,000,000” shares is replaced by “4,000,000” in order to maintain the total share allotment of Puma given that 1,000,000 shares of the Company are being transferred to Puma on or before November 4, 2019.

All other terms of the Agreement continue in full force and effect, unamended as of the date hereof.  Capitalized terms not defined in this letter have the respective meanings accorded to them in the Agreement.

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project, the emphasis will be directed towards the exploration of the new targets identified around the existing deposits at Murray Brook and Chester, but also within underexplored targets located on both favourable horizons within the properties.

The Company’s objective for 2019-20 also includes selling undervalued assets as to increase the value of the company to its shareholders. Puma holds 14,200,000 shares of Targets Minerals, exploring for precious metals (Gold-Silver) in New Brunswick and 4,750,000 shares of BWR Resources exploring for gold in Manitoba, and also an option agreement with Rio Tinto for the Red Brook Project in New Brunswick.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

RIMOUSKI, October 03, 2019 – Puma Exploration Inc. (TSXV: PUMA) (the “Company” or “Puma”) is pleased to announce the results of its Annual and Special Meeting of Shareholders (“ASM”) held on October 03, 2019 in Rimouski, Quebec.

All matters submitted to shareholders for approval as set out in the Company’s Circular dated August 20, 2019 were approved.  A total of 75,730,197 common shares were voted at the ASM, representing 32.6% of the issued common shares of the Company.

These matters included the appointment of directors and auditors, and the adoption of a special resolution amending the articles of incorporation of Puma in order to consolidate its common shares on the basis of one (1) new common share for each tranche of ten (10) common shares currently issued and outstanding.

The following Directors have been elected with an approval rate of 99.8% or more: Marcel Robillard, Richard Thibault, and Raphael Fournier.  Mallette L.L.P. were appointed as the auditors for the financial year ending February 29, 2020 with an approval rate of 99.8%.

Also, the Company received strong support from its shareholders for the consolidation of its common shares with an approval rate of 99.9%.  The Board of Directors is currently evaluating the best strategy concerning the consolidation and will advise shareholders accordingly in a timely manner.

In addition, during the meeting of the Board of Directors that followed the ASM, Marcel Robillard was re-elected as president, CEO and Chairman of the Board and Ginette G. Brisson was re-elected to the positions of CFO and Secretary. Richard Thibault, Marcel Robillard, and Raphael Fournier will form the audit committee.

 

ABOUT PUMA EXPLORATION

Puma is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. While the priority remains to secure and finalize the acquisition of the Murray Brook project, emphasis will also be directed towards the exploration of the new targets identified around the existing deposits at Murray Brook and Chester, but also within underexplored targets located on both favourable horizons within the properties.

The Company’s objective for 2019-20 also includes selling undervalued assets in order to increase the value of the Company for its shareholders. Puma holds 14,200,000 shares of Targets Minerals, exploring for precious metals (Gold-Silver) in New Brunswick and 4,750,000 shares of BWR Resources exploring for gold in Manitoba, and also has an option agreement with Rio Tinto for the Red Brook Project in New Brunswick.

QUALIFIED PERSONS AND QC/AC

Technical information provided in this news release was prepared and reviewed by Marcel Robillard, P.Geo., President of Puma Exploration, qualified person as defined by 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. Mr. Robillard is not independent of the Company, as is officer and shareholders thereof.

You can visit us on Facebook and Twitter.

Learn more by consulting www.pumaexploration.com for further information on Puma.

Marcel Robillard, President

(418) 724-0901

president@explorationpuma.com

-30-

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.

175, rue Légaré
Rimouski, Qc
Canada G5L 3B9
Phone: (418) 724-0901
Fax: (418) 722-0310