Rimouski, Québec – April 29, 2026 – Puma Exploration Inc. (TSXV: PUMA) (“Puma”) is pleased to announce the results from the 2025 field exploration program completed by its subsidiary, Murray Brook Minerals Inc. (“MBM” or the “Company”) on its 100%-owned Legacy Project, in northern New Brunswick, Canada (Figure 1).
The exploration program performed last fall confirms multiple high-grade copper-silver-gold occurrences outside and adjacent to the historical Legacy Deposit area. Surface sampling* returned values up to 12.00% Cu, 1.15 g/t Au and 152 g/t Ag, supporting the interpretation of a broader, multi-zone mineralized system. *The reader is cautioned that grab samples are selective by nature and may not reflect the actual metal content of the mineralized zone.
Figure 1. Location of the Legacy Project within Puma’s landholdings in New Brunswick
“These results confirm the high-grade copper-silver potential of the Legacy system beyond the limits of the Legacy Deposit,” said Marcel Robillard, President and CEO of Puma Exploration. “Robust historical drilling, favourable geology, new geophysical data and the presence of high-grade surface mineralization highlight the significant copper and silver potential at Legacy.”
High-grade copper-silver mineralization has been identified and sampled in three (3) distinct areas on the Legacy property: the Legacy Deposit, the 105 Zone, and the JJ Gold Zone. These mineralized occurrences span the skarn horizon for more than 500 metres. The 2025 work program comprised a drone magnetic survey, trenching, mapping, and prospecting across the 630-hectare Legacy property. A total of 17 trenches, for 943 metres, were excavated, and 321 samples were collected.
2025 Exploration Highlights
Three (3) priority areas were explored and returned significant copper and silver values (Figure 2). Assays from selected grab samples* include:
| Legacy Deposit | 105 Zone | JJ Gold Zone |
| 7.88% Cu – 0.49 g/t Au – 91 g/t Ag | 12.00% Cu – 0.14 g/t Au – 87 g/t Ag | 2.24% Cu – 0.08 g/t Au – 152 g/t Ag |
| 6.59% Cu – 0.11 /t Au – 35 g/t Ag | 8.85% Cu – 0.28 /t Au – 81 g/t Ag | 1.48% Cu – 0.10 /t Au – 45 g/t Ag |
| 6.45% Cu – 0.12 /t Au – 40 g/t Ag | 1.33% Cu – 0.02 /t Au – 50 g/t Ag | |
| 5.77% Cu – 0.10 /t Au – 29 g/t Ag | 1.14% Cu – 0.08 /t Au – 35 g/t Ag |
*The reader is cautioned that grab samples are selective by nature and may not reflect the actual metal content of the mineralized zone.
Figure 2. High-grade copper-silver zones at Legacy
Legacy Project Overview
The Legacy Project is a 100%-owned copper-silver project with gold potential, located in Restigouche County, Northern New Brunswick, near the historic Bathurst Mining Camp and contiguous with Puma’s McKenzie Gold Project. It is in an established mining jurisdiction with access to regional infrastructure, including roads, power, rail, and the deep-water port of Belledune. The project comprises four (4) claim blocks totalling approximately 10,880 hectares and includes the Legacy Deposit, the 105N Cu-Ag-Au mineralized Zone, and the JJ Gold Zone.
The Legacy Deposit is a copper- and silver-dominant skarn system in which mineralization is preferentially associated with silicified calcareous argillite units. Mineralization includes chalcopyrite, pyrite, and pyrrhotite, with minor sphalerite and galena. It hosts a 930,000-tonne inferred resource containing 13,400,000 lbs Cu @ 0.66% Cu and 110,000 oz Ag @ 3.65 g/t Ag at a US$10/t cut-off value within a Whittle pit shell (Independent Technical Report for the Legacy Project, Restigouche County, New Brunswick, Canada, by Dr. Gilles Arseneau, P.Geo., effective November 28, 2025) (see April 22, 2026 News Release).
Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Historical drilling highlights
The Legacy Deposit has been delineated through historical and more recent drilling. 63 diamond drill holes were drilled on the deposit between 1968 and 1998, and MBM completed an additional 11 diamond drill holes in 2013 and 2014.
Selected historical drilling highlights include:
- R-13: 17.07 m @ 2.90% Cu and 10.85 g/t Ag
- R-16: 28.68 m @ 1.70% Cu and 10.16 g/t Ag
- S-77-4: 2.13 m @ 11.53% Cu, 0.69 g/t Au, and 212.50 g/t Ag
- R-21: 4.02 m @ 5.07% Cu and 54.38 g/t Ag
- R-03: 9.97 m @ 2.02% Cu and 12.06 g/t Ag
- R-07: 13.08 m @ 1.35% Cu and 8.45 g/t Ag
- R-14: 5.64 m @ 3.02% Cu and 17.25 g/t Ag
- S-78-8: 3.51 m @ 4.59% Cu, 0.14 g/t Au, and 28.54 g/t Ag
Drill hole R-17 returned a broad mineralized section of 150.57 m grading 0.57% Cu, of which only 67.68 metres were assayed, including higher-grade intervals of 11.28 m @ 3.16% Cu, 5.94 m @ 1.97% Cu and 11.19 m @ 0.95% Cu.
Note: Historical drill intervals are reported as downhole lengths. True widths are unknown unless otherwise stated.
Exploration Upside Potential
The Legacy Deposit remains open at depth. The mineralized zone has been delineated over approximately 200 metres of strike length and drilled to a depth of approximately 400 metres, below which it remains untested. The recent technical report notes that additional tonnage could potentially be delineated with further drilling.
The 2025 drone magnetic survey helped refine the interpretation of historical anomalies and expand coverage across the Legacy claim block. The survey also confirmed magnetic responses associated with known copper-bearing zones and highlighted structural corridors that may represent priority targets for follow-up exploration.
The Legacy system could represent a broader copper-silver-gold skarn system with potential for deeper or adjacent porphyry-style mineralization. This is an exploration concept, not a mineral resource or reserve statement.
Next Steps
MBM intends to use the 2025 results, historical drilling, updated geophysics, and the NI 43-101 technical report to prioritize targets for follow-up work. Planned exploration may include:
- Additional trenching and surface sampling
- Detailed geological mapping with drone surveys
- 3D modelling of the Legacy Deposit and surrounding targets
- Geophysics-guided drill targeting
- Infill and step-out drilling
The objective of the next phase of work is to gain a better understanding, expand known mineralization at the Legacy Deposit, and test high-priority targets at the 105 Zone, JJ Gold Zone, and other prospective areas across the property.
On-site Quality Assurance/Quality Control (QA/QC) Measures
Grab samples are bagged, sealed, and sent to ALS Chemex in Moncton, N.B., where each sample is crushed and pulped before fire assay (Au-AA26 and ME-MS61). The remaining coarse-reject portions of the samples are stored for further work or verification as needed. As part of its QA/QC program, the Company inserts external gold and base-metal standards (low- to high-grade), along with duplicates and blanks. All samples over 10 g/t gold are analyzed with a gravimetric finish (Au-GRA22). Samples with base metals grading over 10000 ppm or silver grading above 100 ppm are analyzed by 4-acid digestion (OG62 and Ag62, respectively).
Qualified Person and NI 43-101 Disclosure
The scientific and technical content of this news release has been prepared, reviewed and approved by Dominique Gagné, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The scientific and technical information related to the Legacy Project is supported by the Independent Technical Report for the Legacy Project, Restigouche County, New Brunswick, Canada, prepared by SRK Consulting (Canada) Inc., authored by Dr. Gilles Arseneau, P.Geo., with an effective date of November 28, 2025.
About Murray Brook Minerals
Murray Brook Minerals Inc. is a private Canadian mineral exploration company advancing its 100%-owned Legacy Project, a copper-silver project with gold potential located in Restigouche County, Northern New Brunswick, Canada. Puma Exploration owns 71.6% of MBM.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company focused on identifying and developing a pipeline of precious metals projects in New Brunswick, near Canada’s renowned Bathurst Mining Camp. Puma has a long history in northern New Brunswick and has developed a strong understanding of the region’s geology and mineralized systems through a combination of traditional prospecting, trenching, geophysics, geochemistry and advanced exploration techniques.
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Visit www.explorationpuma.com for more information or contact:
Marcel Robillard, President and CEO.
(418) 750-8510; president@explorationpuma.com
Mia Boiridy, Head of Investor Relations and Director.
(250) 575-3305; mboiridy@explorationpuma.com
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