{"id":1017728,"date":"2026-07-21T17:32:23","date_gmt":"2026-07-21T21:32:23","guid":{"rendered":"https:\/\/explorationpuma.com\/?p=1017728"},"modified":"2026-07-22T17:35:22","modified_gmt":"2026-07-22T21:35:22","slug":"puma-explorations-inaugural-drilling-confirms-high-grade-gold-system-at-mckenzie","status":"publish","type":"post","link":"https:\/\/explorationpuma.com\/fr\/puma-explorations-inaugural-drilling-confirms-high-grade-gold-system-at-mckenzie\/","title":{"rendered":"Puma Exploration\u2019s Inaugural Drilling Confirms High-Grade Gold System at McKenzie"},"content":{"rendered":"\n

Rimouski, Qu\u00e9bec \u2013 July 21, 2026 \u2013 <\/strong>Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (\u201cPuma\u201d or the \u201cCompany\u201d) is pleased to announce assay results from its inaugural 2,721-metre diamond drilling program at the RIM Gold Zone of its McKenzie Gold Project in Northern New Brunswick.<\/p>\n\n\n\n

The program intersected high-grade gold mineralization in multiple shear and extension vein structures, including quartz vein samples that host visible gold (\u201cVG\u201d) and returned 42.60 g\/t Au over 0.25 m, 21.86 g\/t Au over 0.30 m, 15.55 g\/t Au over 0.30 m, and 13.41 g\/t Au over 0.25 m (see Image 1, Figure 1 and Table 1). These high-grade veins are located within a broader, lower-grade gold envelope that varies in width from 5 to 20 metres (see Table 2). These results, combined with the ongoing 2026 summer exploration program, will identify follow-up drilling targets this fall.<\/p>\n\n\n\n

Dominique Gagn\u00e9, Vice President of Exploration, commented, \u201cThe first drilling program at RIM delivered exactly what we needed: confirmation of high-grade gold samples in shear and extension vein structures and the subsurface information required to refine our targeting model. We now have a stronger understanding of the system and will use drone magnetic surveys, detailed mapping, trenching and 3D modelling to identify the next generation of targets across McKenzie<\/em>.\u201d<\/p>\n\n\n\n

Image 1. Visible gold drilled at RIM in 2025<\/strong><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The 2025 program was a first-pass drill test of the high-grade RIM gold system discovered at surface in 2024-25. The shallow drilling program confirmed that gold-bearing quartz veins and stockwork discovered at surface continue at depth (so far, down to 106 metres downhole) and host several high-grade intercepts. The gold system was tested and confirmed over a lateral extension of 200 metres.<\/p>\n\n\n\n

Figure 1. 3D modelling of Gold Grade of the Rim Gold Zone*<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

*The gold grade interpreted from Leapfrog Software<\/p>\n\n\n\n

The objective of drilling shallow holes was to better define the geometry and continuity of the veins found at surface and to confirm any potential high-grade gold shoot before drilling deeper holes. A potential high-grade gold shoot appears to exist southwest of the stripped area (see Figures 1 and 2).<\/p>\n\n\n\n

These initial drilling results at RIM validate Puma\u2019s geological model and provide the Company with a stronger technical foundation for deeper drilling. The data gathered by Puma\u2019s first phase of drilling will also help better define the geometry of the prospective Grog Gold Zone, located on strike 30 km away, which will be drill-tested later this year (Figure 3). All this new data will help the Company\u2019s exploration crews detail the existing gold occurrences and discover new ones across the 42,000-ha land package.<\/strong><\/p>\n\n\n\n

Figure 2. Plan view of drill hole locations of the 2025 RIM drilling program<\/strong><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Figure 3.  Significant gold occurrences at the McKenzie Gold Project<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

*** From X-Terra News Release dated Feb. 17, 2021<\/em><\/p>\n\n\n\n

Table 1. Selected individual quartz vein samples from the 2025 RIM drilling program<\/strong><\/p>\n\n\n\n

Hole<\/strong><\/td>Sample<\/strong><\/td>From (m)<\/strong><\/td>To<\/strong> (m)<\/strong><\/td>Length* (m)<\/strong><\/td>Au **<\/strong> (g\/t)<\/strong><\/td>Vein<\/strong> type<\/strong><\/td>Mineralization<\/strong><\/td><\/tr>
MK25-20<\/td>H093909<\/td>33.25<\/td>33.50<\/td>0.25<\/td>42.60<\/td>Shear vein<\/td>Py-Po-Cpy-VG<\/td><\/tr>
MK25-26<\/td>H092838<\/td>33.35<\/td>33.65<\/td>0.30<\/td>21.86<\/td>Shear vein<\/td>Py-Po-Cpy-VG<\/td><\/tr>
MK25-41<\/td>K214171<\/td>106.40<\/td>106.70<\/td>0.30<\/td>15.55<\/td>Shear vein<\/td>Py-Po-Cpy-VG<\/td><\/tr>
MK25-26<\/td>H092852<\/td>43.50<\/td>43.75<\/td>0.25<\/td>13.41<\/td>Shear vein<\/td>Py-Po-VG<\/td><\/tr>
MK25-09<\/td>H092157<\/td>17.60<\/td>17.85<\/td>0.25<\/td>12.65<\/td>Shear vein<\/td>Py-Cpy<\/td><\/tr>
MK25-05<\/td>H092069<\/td>11.50<\/td>11.80<\/td>0.30<\/td>12.60<\/td>Shear vein<\/td>Py<\/td><\/tr>
MK25-35<\/td>H092598<\/td>83.30<\/td>83.55<\/td>0.25<\/td>5.35<\/td>Shear vein<\/td>Po-VG<\/td><\/tr>
MK25-01<\/td>H092009<\/td>23.00<\/td>23.25<\/td>0.25<\/td>4.11<\/td>Extension vein<\/td><\/td><\/tr>
MK25-34<\/td>K214548<\/td>22.25<\/td>22.50<\/td>0.25<\/td>3.60<\/td>Extension vein<\/td>Po-Cpy-VG<\/td><\/tr>
MK25-15<\/td>H093708<\/td>32.45<\/td>32.80<\/td>0.35<\/td>3.27<\/td>Qtz-Ca vein<\/td>Po-Cpy-VG<\/td><\/tr>
MK25-40<\/td>H093232<\/td>19.95<\/td>20.20<\/td>0.25<\/td>3.25<\/td>Shear vein<\/td>Po-Cpy<\/td><\/tr>
MK25-16<\/td>H092309<\/td>21.40<\/td>21.65<\/td>0.25<\/td>3.16<\/td>Shear vein<\/td>Po<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*Reported intervals are downhole core lengths. The true width of the mineralization is unknown.<\/em>
**Analytical methods are described in Table 2.<\/em><\/p>\n\n\n\n

Assay Results Delays<\/strong><\/p>\n\n\n\n

The Company wishes to address the unprecedented delays it experienced in receiving assay results from its 2025 drilling program at the McKenzie Gold Project.<\/p>\n\n\n\n

Marcel Robillard, Puma\u2019s President and CEO, commented, \u201cWe share our investors\u2019 frustration with our extended timeline for reporting assay results from our 2025 McKenzie drilling. After not receiving any results within the customary 4-6-week analysis period, we maintained constant contact with the lab, and each time we were assured that the analyses had been completed and that the assay results were imminent. However, each time, the target date passed without Puma receiving any of the lab\u2019s analyses. We are extremely disappointed with MSALAB\u2019s lack of responsiveness and performance. We will be working with another service provider moving forward<\/em>.\u201d<\/p>\n\n\n\n

Recap of the 2025 Drilling Program at RIM<\/strong><\/p>\n\n\n\n

The RIM Gold Zone is interpreted as a structurally controlled quartz-vein system developed along the McKenzie Fault corridor. Surface stripping and trenching in 2025 more than doubled the known extent of the RIM Gold Vein to the northeast and returned high-grade grab samples, including 126.96 g\/t Au, 125.66 g\/t Au, 84.41 g\/t Au and 79.69 g\/t Au (see November 11, 2025 News Release<\/em><\/a>).<\/p>\n\n\n\n

The inaugural RIM drilling program was not designed as a resource-definition program. It was intended to test the newly exposed high-grade vein system and, more importantly, to assess the geometry, continuity, and structural controls on gold mineralization below surface.<\/p>\n\n\n\n

The results confirm that the RIM system continues at depth (106 metres downhole) and that gold occurs in both shear- and extension-vein structures. These results are reminiscent of the gold mineralization at the Lynx Gold Zone at the Williams Brook Project, located 7 km southeast, and represent an important first step in advancing exploration at McKenzie.<\/p>\n\n\n\n

The high-grade gold quartz veins and stockworks reported today were intersected near the surface and to a depth of 106 metres downhole (the deepest drilled to date). They occur within a lower-grade gold envelope, but within a thicker mineralized section composed of many small veins and veinlets within a section that varies in width from 3 metres to 20 metres (see Table 2). For example, drillhole MK25-05 returned 0.44 g\/t Au over 10.90 m and MK25-09 returned 0.65 g\/t Au over 9.35 m (Image 2); MK25-20 <\/strong>intersected 0.64 g\/t Au over 20.10 m, including 1.64 g\/t Au over 7.75 m, <\/strong>and MK25-26 returned 0.38 g\/t Au over 27.85 m, including<\/strong> 1.01 g\/t Au over 10.40 m<\/strong>.<\/p>\n\n\n\n

Image 2: Photograph of drill hole MK25-09 from 12.0 to 19.0 metres (0.65 g\/t Au over 9.35 m)<\/strong><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Table 2. Selected individual quartz vein samples from the 2025 RIM drilling program<\/strong><\/p>\n\n\n\n

DDH #<\/td>From (m)<\/td>To (m)<\/td>Length* (m)<\/td>Au (g\/t)<\/td>Au (g\/t)<\/td><\/td><\/tr>
 <\/td> <\/td> <\/td> <\/td>Au-AA26<\/td>PHOTON<\/td>Visible Gold<\/strong><\/strong><\/td><\/tr>
MK25-01<\/td>17.00<\/td>23.25<\/td>6.25<\/td>0.20<\/td><\/td><\/td><\/tr>
Incl.<\/td>23.00<\/td>23.25<\/td>0.25<\/td>4.11<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-02<\/td>19.90<\/td>24.80<\/td>4.90<\/td>0.26<\/td><\/td><\/td><\/tr>
Incl.<\/td>20.85<\/td>21.20<\/td>0.35<\/td>1.24<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-03<\/td>14.65<\/td>23.40<\/td>8.75<\/td>0.20<\/td><\/td><\/td><\/tr>
Incl.<\/td>14.65<\/td>15.10<\/td>0.45<\/td>2.98<\/strong><\/td> <\/td>X<\/strong><\/td><\/tr>
MK25-04<\/td>NIL<\/td> <\/td> <\/td> <\/td> <\/td> <\/strong><\/td><\/tr>
MK25-05<\/td>11.50<\/td>22.40<\/td>10.90<\/td>0.44<\/td><\/td><\/td><\/tr>
Incl.<\/td>11.50<\/td>11.80<\/td>0.30<\/td>12.60<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-06<\/td>12.10<\/td>14.00<\/td>1.90<\/td>0.11<\/td> <\/td> <\/strong><\/td><\/tr>
MK25-07<\/td>9.85<\/td>10.20<\/td>0.35<\/td>0.35<\/td> <\/td> <\/strong><\/td><\/tr>
MK25-08<\/td>11.00<\/td>16.80<\/td>5.80<\/td>0.18<\/td><\/td><\/td><\/tr>
Incl.<\/td>16.15<\/td>16.80<\/td>0.65<\/td>1.00<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-09<\/td>11.25<\/td>20.60<\/td>9.35<\/td>0.65<\/td><\/td><\/td><\/tr>
Incl.<\/td>14.55<\/td>17.85<\/td>3.30<\/td>1.65<\/strong><\/td><\/td><\/td><\/tr>
Incl.<\/td>14.55<\/td>15.20<\/td>0.65<\/td>2.51<\/strong><\/td><\/td><\/td><\/tr>
and<\/td>17.60<\/td>17.85<\/td>0.25<\/td>12.65<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-10<\/td>15.20<\/td>16.00<\/td>0.80<\/td>1.35<\/strong><\/td> <\/td> <\/strong><\/td><\/tr>
MK25-11<\/td>36.90<\/td>52.70<\/td>15.80<\/td><\/td>0.18<\/td><\/td><\/tr>
Incl.<\/td>36.90<\/td>40.30<\/td>3.40<\/td><\/td>0.56<\/td><\/td><\/tr>
Incl.<\/td>36.90<\/td>37.85<\/td>0.95<\/td><\/td>1.48<\/strong><\/td><\/td><\/tr>
and<\/td>40.05<\/td>40.30<\/td>0.25<\/td> <\/td>1.23<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-12<\/td>15.45<\/td>35.60<\/td>20.15<\/td><\/td>0.11<\/td><\/td><\/tr>
Incl.<\/td>15.45<\/td>19.35<\/td>3.90<\/td><\/td>0.34<\/td><\/td><\/tr>
Incl.<\/td>17.40<\/td>17.65<\/td>0.25<\/td><\/td>2.02<\/strong><\/td><\/td><\/tr>
and<\/td>19.10<\/td>19.35<\/td>0.25<\/td> <\/td>1.58<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-13<\/td>32.40<\/td>33.85<\/td>1.45<\/td><\/td>0.30<\/td><\/td><\/tr>
Incl.<\/td>32.40<\/td>32.65<\/td>0.25<\/td> <\/td>1.25<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-14<\/td>33.35<\/td>40.00<\/td>6.65<\/td> <\/td>0.19<\/td> <\/strong><\/td><\/tr>
MK25-15<\/td>31.40<\/td>64.25<\/td>32.85<\/td><\/td>0.10<\/td><\/td><\/tr>
Incl.<\/td>31.40<\/td>32.80<\/td>1.40<\/td><\/td>1.02<\/strong><\/td><\/td><\/tr>
Incl.<\/td>32.45<\/td>32.80<\/td>0.35<\/td><\/td>3.27<\/strong><\/td>X<\/strong><\/td><\/tr>
and<\/td>45.10<\/td>52.10<\/td>7.00<\/td><\/td>0.20<\/td><\/td><\/tr>
Incl.<\/td>49.75<\/td>50.00<\/td>0.25<\/td> <\/td>1.93<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-16<\/td>21.40<\/td>31.20<\/td>9.80<\/td><\/td>0.24<\/td><\/td><\/tr>
Incl.<\/td>21.40<\/td>21.65<\/td>0.25<\/td> <\/td>3.16<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-17<\/td>41.00<\/td>53.90<\/td>12.90<\/td><\/td>0.11<\/td><\/td><\/tr>
Incl.<\/td>41.00<\/td>46.75<\/td>5.75<\/td> <\/td>0.16<\/td> <\/strong><\/td><\/tr>
MK25-18<\/td>14.65<\/td>30.00<\/td>15.35<\/td> <\/td>0.10<\/td> <\/strong><\/td><\/tr>
Incl.<\/td>25.80<\/td>28.10<\/td>2.30<\/td> <\/td>0.20<\/td> <\/strong><\/td><\/tr>
MK25-19<\/td>29.95<\/td>55.70<\/td>25.75<\/td><\/td>0.14<\/td><\/td><\/tr>
Incl.<\/td>29.95<\/td>30.30<\/td>0.35<\/td><\/td>2.22<\/strong><\/td><\/td><\/tr>
and<\/td>51.50<\/td>55.70<\/td>4.20<\/td><\/td>0.19<\/td><\/td><\/tr>
MK25-20<\/td>20.90<\/strong><\/td>41.00<\/strong><\/td>20.10<\/strong><\/td> <\/strong><\/td>0.64<\/strong><\/td> <\/strong><\/td><\/tr>
Incl.<\/td>33.25<\/strong><\/td>41.00<\/strong><\/td>7.75<\/strong><\/td><\/td>1.64<\/strong><\/td><\/td><\/tr>
Incl.<\/td>33.25<\/td>36.55<\/td>3.30<\/td><\/td>3.65<\/strong><\/td><\/td><\/tr>
Incl.<\/td>33.25<\/td>33.50<\/td>0.25<\/td><\/td>42.60<\/strong><\/td>X<\/strong><\/td><\/tr>
and<\/td>33.50<\/td>33.90<\/td>0.40<\/td><\/td>1.94<\/strong><\/td><\/td><\/tr>
and<\/td>36.30<\/td>36.55<\/td>0.25<\/td> <\/td>1.61<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-21<\/td>22.95<\/td>23.45<\/td>0.50<\/td> <\/td>0.17<\/td> <\/strong><\/td><\/tr>
MK25-22<\/td>44.55<\/td>54.15<\/td>9.60<\/td><\/td>0.12<\/td><\/td><\/tr>
Incl.<\/td>44.55<\/td>44.85<\/td>0.30<\/td><\/td>1.99<\/strong><\/td><\/td><\/tr>
and<\/td>51.00<\/td>51.50<\/td>0.50<\/td><\/td>0.26<\/td><\/td><\/tr>
and<\/td>53.15<\/td>54.15<\/td>1.00<\/td> <\/td>0.12<\/td> <\/strong><\/td><\/tr>
MK25-23<\/td>10.60<\/td>13.30<\/td>2.70<\/td><\/td>0.24<\/td><\/td><\/tr>
Incl.<\/td>10.60<\/td>11.00<\/td>0.40<\/td><\/td>0.78<\/td><\/td><\/tr>
and<\/td>12.00<\/td>13.05<\/td>1.05<\/td><\/td>0.21<\/td><\/td><\/tr>
MK25-24<\/td>60.00<\/td>60.30<\/td>0.30<\/td> <\/td>0.88<\/td> <\/strong><\/td><\/tr>
MK25-25<\/td>15.20<\/td>15.60<\/td>0.40<\/td> <\/td>0.24<\/td> <\/strong><\/td><\/tr>
and<\/td>23.20<\/td>23.45<\/td>0.25<\/td> <\/td>0.45<\/td> <\/strong><\/td><\/tr>
MK25-26<\/td>15.90<\/strong><\/td>43.75<\/strong><\/td>27.85<\/strong><\/td> <\/strong><\/td>0.38<\/strong><\/td> <\/strong><\/td><\/tr>
Incl.<\/td>33.35<\/strong><\/td>43.75<\/strong><\/td>10.40<\/strong><\/td><\/td>1.01<\/strong><\/td><\/td><\/tr>
Incl.<\/td>33.35<\/td>33.65<\/td>0.30<\/td><\/td>21.86<\/strong><\/td>X<\/strong><\/td><\/tr>
and<\/td>41.35<\/td>43.75<\/td>2.40<\/td><\/td>1.51<\/strong><\/td><\/td><\/tr>
Incl.<\/td>43.50<\/td>43.75<\/td>0.25<\/td> <\/td>13.41<\/strong><\/td>X<\/strong><\/td><\/tr>
MK25-27<\/td>37.05<\/td>37.30<\/td>0.25<\/td> <\/td>0.62<\/td>X<\/strong><\/td><\/tr>
and<\/td>59.00<\/td>60.00<\/td>1.00<\/td> <\/td>0.31<\/td> <\/strong><\/td><\/tr>
MK25-28<\/td>41.60<\/td>41.90<\/td>0.30<\/td> <\/td>1.75<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-29<\/td>5.00<\/td>17.00<\/td>12.00<\/td> <\/td>0.32<\/td> <\/strong><\/td><\/tr>
Incl.<\/td>5.00<\/td>5.80<\/td>0.80<\/td> <\/td>3.15<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-30<\/td>33.65<\/td>33.9<\/td>0.25<\/td> <\/td>1.05<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-31<\/td>12.25<\/td>29.30<\/td>17.05<\/td><\/td>0.11<\/td><\/td><\/tr>
and<\/td>12.25<\/td>12.65<\/td>0.40<\/td><\/td>0.61<\/td><\/td><\/tr>
and<\/td>13.85<\/td>14.30<\/td>0.45<\/td><\/td>0.33<\/td><\/td><\/tr>
and<\/td>15.30<\/td>16.00<\/td>0.70<\/td><\/td>0.26<\/td><\/td><\/tr>
and<\/td>28.40<\/td>29.30<\/td>0.90<\/td> <\/td>0.34<\/td> <\/strong><\/td><\/tr>
MK25-32<\/td>28.25<\/td>40.90<\/td>12.65<\/td> <\/td>0.11<\/td> <\/strong><\/td><\/tr>
Incl.<\/td>28.25<\/td>28.80<\/td>0.55<\/td><\/td>1.27<\/strong><\/td><\/td><\/tr>
and<\/td>40.50<\/td>40.90<\/td>0.40<\/td> <\/td>0.62<\/td> <\/strong><\/td><\/tr>
MK25-33<\/td>15.80<\/td>17.25<\/td>1.45<\/td><\/td>0.17<\/td><\/td><\/tr>
Incl.<\/td>16.90<\/td>17.25<\/td>0.35<\/td><\/td>0.38<\/td><\/td><\/tr>
MK25-34<\/td>20.40<\/td>22.50<\/td>2.10<\/td> <\/td>0.62<\/td> <\/strong><\/td><\/tr>
and<\/td>22.25<\/td>22.50<\/td>0.25<\/td> <\/td>3.60<\/strong><\/td>X<\/strong><\/td><\/tr>
MK25-35<\/td>74.30<\/td>89.35<\/td>15.05<\/td> <\/td>0.23<\/td> <\/strong><\/td><\/tr>
incl.<\/td>80.15<\/td>85.15<\/td>5.00<\/td><\/td>0.57<\/td> <\/strong><\/td><\/tr>
incl.<\/td>83.30<\/td>85.15<\/td>1.85<\/td><\/td>1.38<\/strong><\/td> <\/strong><\/td><\/tr>
incl.<\/td>83.30<\/td>83.85<\/td>0.55<\/td> <\/td>3.43<\/strong><\/td>X<\/strong><\/td><\/tr>
MK25-36<\/td>43.00<\/td>44.00<\/td>1.00<\/td> <\/td>0.12<\/td> <\/strong><\/td><\/tr>
MK25-37<\/td>50.50<\/td>51.00<\/td>0.50<\/td> <\/td>0.17<\/td> <\/strong><\/td><\/tr>
MK25-38<\/td>43.10<\/td>43.40<\/td>0.30<\/td> <\/td>0.20<\/td> <\/strong><\/td><\/tr>
MK25-39<\/td>NIL<\/td> <\/td> <\/td> <\/td> <\/td> <\/strong><\/td><\/tr>
MK25-40<\/td>11.85<\/td>20.20<\/td>8.35<\/td><\/td>0.22<\/td><\/td><\/tr>
Incl.<\/td>11.85<\/td>12.15<\/td>0.30<\/td><\/td>1.54<\/strong><\/td><\/td><\/tr>
and<\/td>19.95<\/td>20.20<\/td>0.25<\/td> <\/td>3.25<\/strong><\/td> <\/strong><\/td><\/tr>
MK25-41<\/td>93.70<\/td>110.90<\/td>17.20<\/td> <\/td>0.35<\/td> <\/strong><\/td><\/tr>
incl.<\/td>93.70<\/td>107.05<\/td>13.35<\/td><\/td>0.42<\/td><\/td><\/tr>
incl.<\/td>104.90<\/td>107.05<\/td>2.15<\/td><\/td>2.33<\/strong><\/td><\/td><\/tr>
incl.<\/td>106.40<\/td>106.70<\/td>0.30<\/td> <\/td>15.55<\/strong><\/td>X<\/strong><\/td><\/tr>
MK25-42<\/td>36.55<\/td>43.55<\/td>7.00<\/td> <\/td>0.15<\/td> <\/strong><\/td><\/tr>
incl.<\/td>36.55<\/td>37.05<\/td>0.50<\/td> <\/td>0.60<\/td> <\/strong><\/td><\/tr>
MK25-43<\/td>93.05<\/td>94.10<\/td>1.05<\/td> <\/td>0.12<\/td> <\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*Reported intervals <\/em>are downhole core lengths. The true width of the mineralization is unknown.<\/em><\/p>\n\n\n\n

Table 3. Technical data for the 2025 drilling program at RIM<\/strong><\/p>\n\n\n\n

DDH<\/strong><\/td>East Nad 83 z19<\/strong><\/td>North Nad83 z19<\/strong><\/td>Elevation (m)<\/strong><\/td>Az.<\/strong><\/td>Dip<\/strong><\/td>Length (m)<\/strong><\/td><\/tr>
MK25-01<\/td>634654<\/td>5267508<\/td>298<\/td>70<\/td>-45<\/td>29.0<\/td><\/tr>
MK25-02<\/td>634653<\/td>5267508<\/td>298<\/td>70<\/td>-80<\/td>38.0<\/td><\/tr>
MK25-03<\/td>634649<\/td>5267506<\/td>298<\/td>70<\/td>-45<\/td>28.5<\/td><\/tr>
MK25-04<\/td>634654<\/td>5267507<\/td>298<\/td>150<\/td>-45<\/td>28.0<\/td><\/tr>
MK25-05<\/td>634653<\/td>5267508<\/td>298<\/td>150<\/td>-80<\/td>38.0<\/td><\/tr>
MK25-06<\/td>634646<\/td>5267493<\/td>298<\/td>70<\/td>-80<\/td>35.0<\/td><\/tr>
MK25-07<\/td>634647<\/td>5267493<\/td>298<\/td>70<\/td>-45<\/td>31.0<\/td><\/tr>
MK25-08<\/td>634664<\/td>5267528<\/td>299<\/td>70<\/td>-45<\/td>28.5<\/td><\/tr>
MK25-09<\/td>634663<\/td>5267527<\/td>299<\/td>70<\/td>-80<\/td>35.0<\/td><\/tr>
MK25-10<\/td>634700<\/td>5267622<\/td>309<\/td>150<\/td>-45<\/td>71.0<\/td><\/tr>
MK25-11<\/td>634643<\/td>5267535<\/td>302<\/td>150<\/td>-75<\/td>80.0<\/td><\/tr>
MK25-12<\/td>634698<\/td>5267622<\/td>302<\/td>150<\/td>-70<\/td>90.0<\/td><\/tr>
MK25-13<\/td>634636<\/td>5267517<\/td>303<\/td>70<\/td>-55<\/td>35.5<\/td><\/tr>
MK25-14<\/td>634635<\/td>5267517<\/td>303<\/td>70<\/td>-55<\/td>68.0<\/td><\/tr>
MK25-15<\/td>634689<\/td>5267640<\/td>309<\/td>150<\/td>-70<\/td>84.0<\/td><\/tr>
MK25-16<\/td>634689<\/td>5267604<\/td>307<\/td>150<\/td>-45<\/td>62.0<\/td><\/tr>
MK25-17<\/td>634633<\/td>5267517<\/td>303<\/td>70<\/td>-75<\/td>83.0<\/td><\/tr>
MK25-18<\/td>634689<\/td>5267605<\/td>307<\/td>150<\/td>-70<\/td>78.0<\/td><\/tr>
MK25-19<\/td>634679<\/td>5267623<\/td>308<\/td>150<\/td>-70<\/td>69.0<\/td><\/tr>
MK25-20<\/td>634634<\/td>5267518<\/td>303<\/td>150<\/td>-45<\/td>68.0<\/td><\/tr>
MK25-21<\/td>634711<\/td>5267628<\/td>308<\/td>150<\/td>-45<\/td>47.0<\/td><\/tr>
MK25-22<\/td>634634<\/td>5267519<\/td>303<\/td>150<\/td>-75<\/td>84.0<\/td><\/tr>
MK25-23<\/td>634710<\/td>5267629<\/td>308<\/td>150<\/td>-70<\/td>45.0<\/td><\/tr>
MK25-24<\/td>634614<\/td>5267540<\/td>306<\/td>150<\/td>-70<\/td>107.0<\/td><\/tr>
MK25-25<\/td>634702<\/td>5267647<\/td>309<\/td>150<\/td>-70<\/td>69.0<\/td><\/tr>
MK25-26<\/td>634626<\/td>5267497<\/td>303<\/td>70<\/td>-55<\/td>86.0<\/td><\/tr>
MK25-27<\/td>634667<\/td>5267614<\/td>307<\/td>150<\/td>-70<\/td>84.0<\/td><\/tr>
MK25-28<\/td>634619<\/td>5267483<\/td>302<\/td>70<\/td>-75<\/td>77.0<\/td><\/tr>
MK25-29<\/td>634685<\/td>5267579<\/td>304<\/td>70<\/td>-45<\/td>47.0<\/td><\/tr>
MK25-30<\/td>634611<\/td>5267465<\/td>301<\/td>70<\/td>-45<\/td>62.0<\/td><\/tr>
MK25-31<\/td>634684<\/td>5267579<\/td>303<\/td>70<\/td>-80<\/td>39.0<\/td><\/tr>
MK25-32<\/td>634661<\/td>5267571<\/td>302<\/td>70<\/td>-55<\/td>62.0<\/td><\/tr>
MK25-33<\/td>634679<\/td>5267564<\/td>302<\/td>70<\/td>-45<\/td>38.0<\/td><\/tr>
MK25-34<\/td>634678<\/td>5267564<\/td>302<\/td>70<\/td>-80<\/td>42.0<\/td><\/tr>
MK25-35<\/td>634586<\/td>5267550<\/td>306<\/td>110<\/td>-50<\/td>104.0<\/td><\/tr>
MK25-36<\/td>634651<\/td>5267555<\/td>302<\/td>70<\/td>-55<\/td>65.0<\/td><\/tr>
MK25-37<\/td>634650<\/td>5267555<\/td>302<\/td>70<\/td>-75<\/td>90.0<\/td><\/tr>
MK25-38<\/td>634610<\/td>5267464<\/td>301<\/td>70<\/td>-75<\/td>92.0<\/td><\/tr>
MK25-39<\/td>634672<\/td>5267546<\/td>300<\/td>70<\/td>-45<\/td>35.0<\/td><\/tr>
MK25-40<\/td>634671<\/td>5267545<\/td>300<\/td>70<\/td>-80<\/td>42.0<\/td><\/tr>
MK25-41<\/td>634559<\/td>5267560<\/td>306<\/td>110<\/td>-50<\/td>152.0<\/td><\/tr>
MK25-42<\/td>634644<\/td>5267535<\/td>302<\/td>70<\/td>-60<\/td>61.5<\/td><\/tr>
MK25-43<\/td>634612<\/td>5267628<\/td>306<\/td>110<\/td>-50<\/td>111.0<\/td><\/tr>
Total: 43<\/strong><\/td><\/td><\/td><\/td><\/td><\/td>2,721<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Ongoing 2026 Exploration Program<\/strong><\/p>\n\n\n\n

As announced on February 26, 2026, Puma\u2019s fully-funded 2026 surface exploration program at McKenzie was launched in May. Since then, two (2) field crews have been deployed full-time to conduct a first-pass exploration program consisting of mapping, prospecting, and rock sampling across the entire 42,000 ha land package. Compilation work over the last six months has identified more than 75 surface targets of varying priorities that will be examined in the coming months.<\/p>\n\n\n\n

Image 3. Ongoing exploration at the McKenzie Gold Project<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

This field program, including prospecting, mechanical trenching, mapping, and high-resolution magnetic surveys, is designed to assess grade, better define the structural controls of the gold mineralization, and advance targets for follow-up drilling in the fall.<\/p>\n\n\n\n

A 3D geological model of RIM that integrates drilling assays, surface mapping, drill core logging, structural modelling and magnetic data will also be completed to refine the geometry of the high-grade shoots at RIM for follow-up, deeper drilling.<\/p>\n\n\n\n

Investment Highlights<\/strong><\/p>\n\n\n\n