Puma Exploration Inc., PUMA-TSXV, (“Puma”) is pleased to announce the final closing of the offering previously announced on November 30, 2020. The Company issued 7,500,000 Flow-Through units at the price of $0.20 per Unit. Each unit comprises one common share and one-half of one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 30, 2022.

In connection with the private placement, the company has paid cash finders’ fees totaling of $106,744 and issued 533,720 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.20 for 24 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.

One insider of the company participated in the placement for aggregate gross proceeds of $3,700. The insider purchased units under the same terms as the other investors. The participation of the insider is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions, on the basis that the fair market value of such participation or the consideration paid by such insiders does not exceed 25 percent of the market capitalization of the company.

The net proceeds from the offering will be mainly used for the exploration of the flagship Triple Fault Gold Project in New Brunswick, including, but not limited to, proceeding with district-scale Heli-Borne Geophysics surveys, to initiate the first drilling program on the Williams Brook property, to begin the drilling program on its Chester Copper Project, as well as for general corporate purposes.

O’NEIL GOLD TREND (OGT)
The first phase of the 2020 summer exploration program lead to the discovery of the GOLD O’Neil Showing with the presence of a significant and pervasive potential gold trend over 5.0km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in all directions.

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

TRIPLE FAULT GOLD PROJECT
The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

QUALIFIED PERSONS
Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent 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 located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

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
Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

Rimouski, December 17th, 2020 – Puma Exploration Inc., PUMA-TSXV, (“Puma”) is pleased to announce the closing of the fully subscribed current ordinary units private placement for an amount of $750,000. The Company issued 5 million units (“Units”) at the price of $0.15 per Unit. Each unit comprises one common share and one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 17, 2022.

 

In connection with the private placement, the company has paid cash finders’ fees totaling $15,315 and issued 364,200 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.15 for 24 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 company will use the proceeds of the offering for working capital purposes, and to explore its current flagship Triple Fault Gold Project.

 

The technical team is still on-site on the Williams Brook Gold property to finalize the summer exploration program which currently includes the trenching and stripping of the new discoveries made during the initial phase of exploration.

 

The net proceeds from the offering will be mainly used for the exploration of the flagship Triple Fault Gold Project in New Brunswick, including, but not limited to, proceeding with district-scale Heli-Borne Geophysics surveys, to initiate the first drilling program on the Williams Brook property, to begin the drilling program on its Chester Copper Project, as well as for general corporate purposes.

 

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program lead to the discovery of the GOLD O’Neil Showing with the presence of a significant and pervasive potential gold trend over 5.0km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 19,147 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

 

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

 

Rimouski, December 15th, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) has proceeded with all the payments required to satisfy the first year anniversary options obligations for the properties included in its flagship Triple Fault Gold Project, New Brunswick (see Figure 1). The total cash payment of $30,000 with the issuance of 75,000 shares to optionees have satisfied all of the options agreement requirements to keep the agreement in good standing until April 2022 (see news releases dated 2020-04-06 and 2020-04-16 for detailed transaction terms).

 

 

Figure 1: Option Agreements on the Triple Fault Gold Project 

Marcel Robillard, Puma’s President & CEO stated, “In light of the discoveries made during the summer exploration program and the potential of the entire Triple Fault Gold Project to hold significant gold deposits, we have decided to advance the payments required for the April 2021 first year anniversary which fulfills the obligations and secures the options agreement until April 2022.”

PRIVATE PLACEMENT

Puma Exploration Inc. has arranged a non-brokered private placement of up to $0.75-million, consisting of five (5) million units of the corporation at a price of 15 cents per unit, for gross proceeds of up to $750,000. Each ordinary unit will consist of one common share of the corporation and one common share purchase warrant of the corporation. Each warrant will entitle the holder thereof to acquire one common share at a price of 25 cents for a 24-month period following the closing date of the offering.

The offering is fully-subscribed and expected to close on or around December 18, 2020, or such other date as the corporation may determine. The offering is conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the offering will have a holding period of four months and one day from the closing date of the offering, in accordance with applicable securities laws. The net proceeds from the offering will be used for general corporate purposes.

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program led to the discovery of the O’Neil Showing, the Lynx Showing and the Pepitos Gold Zone with the presence of a significant and pervasive potential gold trend over 5.0 km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high-grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 19,147 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

 

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

 

Rimouski, December 08th, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce the discovery of a robust network of quartz veins with Visible Gold (VG) at the newly discovered “Pepitos Gold Zone” (PEPITOS) of the O’Neil Gold Trend (see Figure 1). The Visible Gold (VG) was observed at 5 different locations within the stripped area.

 

The quartz veins network discovered at PEPITOS is interpreted to be related to an extensional system (Riedel type) associated with the main structures trending NW identified on the Williams Brook property. During the stripping and cleaning operations, at the new zone PEPITOS, the technical team has identified multiple continuous gold bearing quartz veins with significant VG and sulphides (Ga+Sp+Cpy) mineralization over a strike length, so far, of about 40 meters for each vein (see Figure 2). The zone is located only 35 meters East of the O’Neil Showing and still expands further towards the East.

 

Highlights :

► Discovery of a robust network of quartz veins with VG + sulphides at the “PEPITOS GOLD ZONE”

► Over 300 samples results are pending at the “PEPITOS GOLD ZONE”

► Continous Gold Trend confirmed over 75 m from O’Neil Showing to the “PEPITOS GOLD ZONE”

► The veins exposed, are typically striking between 250° to 320° (network) similar to O’Neil

► The O’Neil Gold Trend (OGT) extends over 5 km and has never been drilled

 

Marcel Robillard, Puma’s President & CEO stated, “Our 2020 fieldwork continues to impress with great discoveries made at the surface which confirm the potential of this district-scale gold project to host significant gold deposits. It’s important to note that all the gold discoveries made so far, along the O’Neil Gold Trend (OGT), are located at the surface and will be used to direct the first drilling program at O’Neil Gold Trend. Typically major gold deposits begin at the surface and extend at depth, along with fractures similar to the ones found on the Williams Brook property.”

 

Figure 1: The O’Neil Gold Trend (OGT) Extends Over 5 km and Has Never Been Drilled

Figure 2: Location of the Pepitos Zone of the Williams Brook Gold Trend

An aggressive program of surface excavation and stripping is currently in progress at the new Pepitos Gold Zone. So far, the stripped area is about 40 m x 40 m, where detailed mapping, sampling, and surveying will be completed (see Figure 3). The objective of the current work is to further evaluate the surface expression of the main structures, the alteration and the gold mineralization to apply the findings over the entire Gold Trends within the whole Williams Brook property.

Figure 3: The New Pepitos Gold Zone with Visible Gold (VG) Samples Location

The Visible Gold (VG) was observed in multiple veins, ranging from 0.10 m to 0.40 m wide, exposed at the surface over a distance of 40 meters each, and is variably detected in 0.5 to 3.0 millimeters disseminated blebs in a quartz veins breccia that show pervasive alteration of Chlorite + Sericite. The system remains open in all directions.

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program led to the discovery of the O’Neil Gold Showing with the presence of a significant and pervasive potential gold trend over 5.0 km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high-grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its fieldwork on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

Facebook / Twitter / LinkedIn

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

 

Marcel Robillard, President, (418) 724-0901; president@explorationpuma.com

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

 

 

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 02th, 2020 – Puma Exploration Inc., PUMA-TSXV, (“Puma”) is pleased to announce the closing of the fully subscribed ordinary units private placement for an amount of $450,000 and a first tranche of the Flow-Through units for an amount of $450,000 for a total of $900,000.

 

CLOSING OF FULLY SUBSCRIBED ORDINARY UNITS

The Company issued 3 million units at the price of $0.15 per Unit. Each unit comprises one common share and one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 02, 2022.

 

In connection with the private placement, the company has paid cash finders’ fees in an amount of $29,340 and issued 195,600 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.15 for 24 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.

 

One insider of the company participated in the placement for aggregate gross proceeds of $60,000. The insider purchased units under the same terms as the other investors. The participation of the insider is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions, on the basis that the fair market value of such participation or the consideration paid by such insiders does not exceed 25 percent of the market capitalization of the company.

 

 

CLOSING OF FIRST TRANCHE OF FLOW-THROUGH UNITS

Puma Exploration announces the closing of a first tranche of the Flow-Through private placement for an amount of $450,000. The Company issued 2,250,000 Flow-Through units at the price of $0.20 per Unit. Each unit comprises one common share and one half of one common share purchase warrant. Each warrant gives its holder the right to purchase one common share at a price of $0.25 per share until December 02, 2022.

 

In connection with the private placement, the company has paid cash finders’ fees in an amount of $35,440 and issued 177,200 finders’ warrants, each entitling the holder to acquire one additional common share of Puma at a price of $0.20 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.

 

One insider of the company participated in the placement for aggregate gross proceeds of $7,000. The insider purchased units under the same terms as the other investors. The participation of the insider is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions, on the basis that the fair market value of such participation or the consideration paid by such insiders does not exceed 25 percent of the market capitalization of the company.

 

The net proceeds from the offerings will be mainly used for the exploration of the flagship Triple Fault Gold Project in New Brunswick, including, but not limited to, proceeding with district-scale Heli-Borne Geophysics surveys, to initiate the first drilling program on the Williams Brook property, to begin the drilling program on its Chester Copper Project, as well as for general corporate purposes.

 

 

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program lead to the discovery of the GOLD O’Neil Showing with the presence of a significant and pervasive potential gold trend over 5.0km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of he Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent 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 located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

 

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

 

Rimouski, November 30th, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) has arranged non-brokered private placements of up to $2.45 million, consisting of (i) three (3) million units of the corporation at a price of 15 cents per unit, for gross proceeds of up to $0.45 million, and (ii) ten (10) million Canadian flow-through units of the corporation, at a price of 20 cents per FT unit, for gross proceeds of up to $2.00 million.

 

Each ordinary unit will consist of one common share of the corporation and one common share purchase warrant of the corporation. Each warrant will entitle the holder thereof to acquire one common share at a price of 25 cents for a 24-month period following the closing date of the offerings. Each flow-through unit will consist of one common share of the corporation and one-half of one common share purchase warrant of the corporation. Each full warrant will entitle the holder thereof to acquire one common share at a price of 25 cents for a 24-month period following the closing date of the offerings.

 

The offerings are expected to close on or around December 11th, 2020, or such other date as the corporation may determine. The offerings are conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the offerings will have a holding period of four months and one day from the closing date of the offerings, in accordance with applicable securities laws.

 

The net proceeds from the offerings will be mainly used for the exploration of the flagship Triple Fault Gold Project in New Brunswick, including, but not limited to, proceeding with district-scale Heli-Borne Geophysics surveys, to initiate the first drilling program on the Williams Brook property, to begin the drilling program on its Chester Copper Project ($2.00 million), and finally, to use some of the proceeds for general corporate purposes ($0.45 million).

 

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program lead to the discovery of the Gold O’Neil Showing with the presence of a significant and pervasive potential gold trend over 5.0 km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its fieldwork on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

 

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

 

 

 

Rimouski, November 19th, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) has found additional occurrences (2) of visible gold (VG) in trench TR20-28, located 35 m east of the O’Neil High-Grade Gold Showing. The discovery was made during the detailed mapping of the trench, following the cleaning work (see figure 1).

 

Figure 1: Location of the Visible Gold (VG) at Williams Brook Property

 

The visible gold (VG) is variably detected in 0.5 to 3.0 millimeters disseminated blebs in a quartz veins breccia that show pervasive alteration of Chlorite + Sericite. The quartz veins containing the visible gold (VG) are oriented ~N290 and seem to be part of a major extensional system (Riedel type) located near the major structures that are trending NW.

 

Figure 2: Visible Gold in the Quartz Breccia at O’Neil Gold Zone (OGZ)

 

Marcel Robillard, Puma’s President & CEO stated, “While the Company is quick to assert the presence of visible gold, it is not necessarily indicative of mineralisation throughout all the samples at O’Neil. However, it does augur well for further gold potential discoveries at Williams Brook property”.

 

“It’s a very exciting time for Puma Exploration with the discovery of additional visible gold (VG) at the O’Neil Gold Zone (OGZ), the confirmation of the O’Neil Gold Trend (OGT) for more than 5.0 km, and with more than 500 samples currently at the laboratory for gold assaying with results that should be received shortly.” Added Marcel Robillard.

 

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program lead to the discovery of the O’Neil Gold Showing with the presence of a significant and pervasive potential gold trend over 5.0 km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworksThe altered and brecciated rhyolite is open in all directions.

 

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

 

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high-grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

 

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

 

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@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 admini

Rimouski, November 12th, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce the discovery of visible GOLD (VG) in quartz veining stockwork similar to the O’Neil Showing signature grading up to 109.5 g/t Au (press release 2020/09/01) at its Williams Brook Property near Bathurst, New Brunswick, Atlantic Province of Canada. The discovery, located 35 meters NE of the O’Neil Showing, was made during Phase 2 of the current trenching program (T20-21 to T20-29) conducted on the O’Neil Gold Trend (OGT) (see figure 1).

Phase 1 of the exploration program successfully expands the OGT over 5 km from the High-Grade O’Neil Showing towards the north-east (see figure 2). Of particular interest is the discovery of a significant zone (50 m by 25 m) of a large altered and mineralized system composed of quartz veins and quartz stockwork within the 40 Zone located 2.5 km NE of the high-grade gold O’Neil Showing (see figure 3). The assays from this zone are pending.

 

HIGHLIGHTS:

Marcel Robillard, Puma’s President & CEO stated, “We are very excited to announce the first visible GOLD (VG) found by Puma’s technical team at the Williams Brook Property. Since the beginning of the exploration in July 2020, tremendous knowledge and discoveries were made which accentuated the similarities between Williams Brook and the other majors gold plays in Atlantic Canada”.

“The key to success is to define the favorable horizon for more than 5 km, in order to increase the potential to find a large gold deposit. Puma controls more than 41,500 ha in an emerging Gold-District in Northern New Brunswick, Canada”.

Figure 1: O’Neil Gold Zone (OGZ) Visible Gold (VG) Discovery

Phase 1 of the exploration program was directed to delineate the favorably altered rhyolite horizon as documented from the previous work and the regional mapping. The technical team were able, with mapping and trenching, to expand the altered rhyolite over 5 km at the O’Neil Gold Trend (OGT), over 1 km at the Williams Brook Gold Trend 1 (W1GT) and 350 m at the Williams Brook Gold Trend 2 (W2GT).

Following the recent discoveries and data collected during the first phase, Phase 2 of the exploration program is directed on the altered rhyolites/sediments contacts delineated which seems to represent an important control on the gold mineralization in association with regional structures trending NW. The current trenching program focuses on the interpreted potential ore shoot system (Riedel Type) composed of extension veins (290° to 320°) with the rhyolite/sediment contacts.

Figure 2: O’Neil Gold Trend (OGT) Expanded over 5 km

 

Figure 3: Trenching at 40 Zone Located 2.5 km NE of O’Neil Showing

Puma’s main objective of the initial exploration program conducted at Williams Brook was to prove the potential of the property to host a major gold deposit. It included property-scale prospecting, geological mapping followed by two (2) phases of an aggressive trenching program.

O’NEIL GOLD TREND (OGT)

The first phase of the 2020 summer exploration program lead to the discovery of the GOLD O’Neil Showing with the presence of a significant and pervasive potential gold trend over 5.0 km along the O’Neil Gold Trend (OGT). The O’Neil Showing consists of altered and brecciated rhyolite injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in all directions.

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade samples of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au)*, was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

 

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its fieldwork on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8 m, 2.1 g/t Au over 9.0 m, and 1.0 g/t over 23 m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of The Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, an independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@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 22nd, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce the discovery of a new gold-bearing zone with up to 9.08 g/t Au on its Williams Brook property (the “Lynx Zone”). The gold discovery, located 300 meters northeast of the O’Neil Showing, was made during the first phase of the ongoing trenching program to verify the source of the gold-bearing boulder fields previously reported (press release September 22, 2020).

HIGHLIGHTS:

 

*Selected rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

Marcel Robillard, Puma’s President & CEO stated, “New discoveries are fundamental to value creation, and the latest results from the current trenching program confirms the potential for further high-value discoveries on the entire Williams Brook property as it shows numerous gold soil anomalies and extremely anomalous till samples untested, and still holds an untapped wealth of geological endowment.”

Figure 1: New Gold Discovery, the Lynx Showing is Located 300 Meters NE of O’Neil Showing

In light of the results reported at the Lynx Showing grading 9.08 g/t Au6,87 g/t Au, and 2.04 g/t Au from bedrock collected at the bottom of the trench, more trenching and stripping will be added to the current program.

Figure 2: Pictures of the Samples Collected at the Lynx Showing

A total of 280 rock samples, consisting of a mix of outcrops and boulders were collected on the property during the current second phase of exploration. Most of them are samples collected from the current trenching program. Results are pending and will be released once they become available.

O’NEIL GOLD ZONE (OGZ)

The first phase of the 2020 summer exploration program lead to the discovery of the gold O’Neil Showing with the presence of a significant and pervasive gold trend over 2.0km along the O’Neil Gold Zone (OGZ). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in all directions.

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50cm) followed and sampled, so far, over 10 meters in length. The average gold grade samples of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au)*, was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled and reported respectively high grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and Portage Lake, covering more than 41,500 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams Brook property includes selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over 23m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of The Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. 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. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.

 

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@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 01st, 2020 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is pleased to announce the presence of significant coarse gold mineralization including the highest grade being 128.0 g/t Au received from metallic screen assays. Initial check assaying using metallic screen fire assay was conducted on previously fire assayed selected grab samples* at the O’Neil showing, reported in the September 01st, 2020 press release.

HIGHLIGHTS:

 

*Selected rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

Marcel Robillard, Puma’s President & CEO stated, ” Screen metallic fire assay is a significant type of analysis designed to specifically deal with the presence of visible gold or coarse grain usually called nuggets effect in the sample medium. When samples contain coarse gold, the metallic screening procedure is recommended for accurate results. It is clear, even with limited samples, that the mineralization at O’Neil Gold Trend contains coarse grain which could facilitate the milling recovery.”

 

Analyses were conducted on the rejects from the selected grabs samples of the O’Neil Showing and from other samples with initial results over 0.10 g/t Au to characterize the gold mineralization at Williams Brook and to define the QC/AC sampling protocol for the entire property.

Table 1: O’Neil Showing Metallic Screen Results from selected grab sample rejects

Workorder MN20147589 MN20154363
Method Au-ICP21 Au-GRA21 Au-AA26 Au-AA26D Au-SCR24 Au-SCR24 Au-SCR24 Au Total Increased
Analyte Au Au Au Au Au (+) Fraction Au (-) Fraction Au Total %
  g/t g/t g/t g/t g/t g/t g/t with Coarse
Samples 0,00 0,05 0,01 0,01 0,05 0,05 0,05 Grain
PA-20-16 >10.0 21.00 8.54 7.97 159.5 8.26 18.00 218%
PA-20-17 >10.0 109.50 48,00 46.80 1505.0 47.40 128.00 270%
PA-20-20 >10.0 15.95 8.09 8.09 190.5 8.09 13.05 161%
PA-20-21 2.71 2.71 1.55 1.54 8.41 1.55 2.10 135%
PD-20-10 7.58 7.58 2.95 2.77 145.0 2.86 8.24 288%
PD-20-14 >10.0 12.7 4.39 4.48 32.6 4.44 5.86 132%
A0753897 >10.0 5.55 3.60 3.02 43.8 3.31 8.33 252%
A0753898 2.94 2.94 0.63 0.56 14.4 0.60 1.74 290%
A0753900 6.14 6.14 0.83 1.01 11.5 0.92 1.91 208%
A0753901 3.57 3.57 1.65 2.15 29.9 1.90 3.70 195%
A0753903 1.14 1.14 0.27 0.47 10.7 0.37 0.98 265%
A0753904 7.38 7.38 5.83 5.75 124.5 5.79 14.50 250%
A0753905 6.63 6.63 6.39 5.35 63.6 5.87 10.25 175%
A0753906 >10.0 38.8 11.15 12.55 274.0 11.85 35.20 297%
A0753928 0.33 0.33 0.16 0.07 1.3 0.12 0.21 175%
A0753929 0.45 0.45 0.20 0.07 0.9 0.14 0.18 129%

A total of 309 rock samples, consisting of a mix of outcrops and boulders were collected on the property during the current second phase of exploration. Most of them are samples collected from the current trenching program. Results are pending and will be released once they become available.

 

Figure 1: O’Neil Showing Metallic Screen New Results Comparison

O’NEIL GOLD ZONE (OGZ)

The first phase of the 2020 summer exploration program lead to the discovery of the Gold O’Neil Showing with the presence of a significant and pervasive Gold Trend over 2.0 km along the O’Neil Gold Zone (OGZ). The O’Neil Showing consists of an altered and brecciated rhyolite injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in all directions

The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30-50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade samples of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25 g/t Au, 8.33 g/t Au and 1.74 g/t Au)*, was estimated from chip and grab samples collected continuously every 1.5 meters on the main vein.

Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and veinlets within the rhyolite were found, sampled, and reported respectively high-grade gold of 16.90 g/t Au8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au and 1.14 g/t Au.

TRIPLE FAULT GOLD PROJECT

The Triple Fault Gold Project includes three (3) properties named Williams Brook Gold, Jonpol Gold, and Portage Lake properties covering more than 30,000 hectares of favorable gold exploration land package. The project is located about 60 km west of Bathurst with the paved road cross-cutting the property.

Puma is currently focusing its fieldwork on its first priority, the Williams Brook property. The Williams Brook Gold property includes selected drill results of 11.2 g/t over 2.8 m, 2.1 g/t Au over 9.0 m and 1.0 g/t over 23 m, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock, numerous gold soil anomalies and extremely anomalous till samples with up to 508 gold grains that occur over an area approximately 12 by 3 kilometers.

 

There has been very limited drilling and exploration in the area mapped to be part of the Dunnage Zone hosting major gold deposits and gold occurrences in siluro-devonian rocks and considered as an emerging gold exploration and development district.

 

QUALIFIED PERSONS

Dominique Gagné, PGeo, an independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither 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. Mr. Gagné is independent of the Company.

 

QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)

Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns. Other screen sizes available. Duplicate 50 g assay on screen undersize. Assay of entire oversize fraction.

 

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. 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 with low shares dilution.

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

Christian Tweedy, Communications, (604) 619-5810; ctweedy@explorationpuma.com

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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