PUMA Exploration Inc., Votorantim Metals Canada Inc. and Trevali Mining Corporation Amend the Terms of the Murray Brook Property Agreement
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
For immediate dissemination
PUMA EXPLORATION INC., VOTORANTIM METALS CANADA INC. AND TREVALI MINING
CORPORATION AMEND THE TERMS OF THE MURRAY BROOK PROPERTY AGREEMENT
Rimouski, December 10th, 2018 – Puma Exploration Inc. (the “Company” or “Puma”) announces that by mutual agreement,
Votorantim Metals Canada Inc. (“Votorantim”) and Puma have agreed to modify the terms of the amended and restated
Asset Purchase Agreement signed October 5th, 2016, as amended thereafter. Pursuant to the amending agreement signed
by Puma and Votorantim, Puma now has until March 31st, 2019 to proceed with the final $3M cash consideration. The date
at which the Environmental bond must be assumed has also been postponed to Marc h 31 st, 2019. Once the final cash
consideration payment is made and the Environmental bond is assumed, title to the mining claims will be transferred.
Puma also signed an amending agreement with Trevali Mining Corporation (“Trevali”) to amend the option a greement
signed on April 27th, 2018. Pursuant to such amending agreement, Trevali will also have until March 31st, 2019 to complete
its payments to Puma in order to exercise its option.
“We are very pleased with the amended terms between the parties which provides more time to optimize and finalize the
current studies and surveys in progress at Murray Brook to achieve our shared objective to complete the acquisition and
define the best mining scenario for the Murray Brook deposit” notes Marcel Robillard, President of Puma.
Highlights of the work conducted on the Murray Brook property since the commencement of the Option Agreement
with Votorantim are the following:
2017
1) Drilling program including 3 holes for 774 meters (574 samples).
2) Trenching program including 63 trenches for 5,731 meters (255 Samples).
3) Mapping and prospecting (13 samples)
4) Alteration and lithology study (XRF)
2018
1) Drilling program including 17 holes for 5,643 meters (1850 samples)
a. 7 Metallurgical holes (assays released – NR 2018-08-29)
b. 4 Geotechnical holes (results pending)
c. 4 Exploration holes (results pending)
d. 2 regional exploration holes (results to come)
2) Metallurgical and recovery test for the different metal domains
a. High Grade Zinc Zone (in progress - results pending)
b. Low Grade Zinc Zone (in progress - results pending)
c. High Grade Copper Zone (in progress - results pending)
d. Surface Oxidized Zone (in progress - results pending)
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
2018 (continued)
3) Borehole EM Geophysical Survey in 7 holes, in total 4,011 meters (awaiting interpretation)
4) Trenching program including 19 trenches, in total 3,567 meters (results pending)
5) Line Cutting, in total 33 km-line (completed)
6) IP and Mag ground geophysical surveys, in total 33 km-line (in progress - results pending)
7) Regional geophysical compilation (3D gravity, mag and EM inversion)
8) Alteration and lithology study (XRF)
Since the start of the Option Agreement between Puma and Votorantim, approximately $2.4M has been invested by Puma
and his partner Trevali in exploration and development work at the Murra y Brook property.
Other Corporate Matter
1) Puma proposes to extend the expiry date of 9,099,665 outstanding share purchase warrants that were issued
pursuant to a private placement completed on July 19 th, 2016. Each warrant entitles the holder to purchase one
common share in the capital of the Company at a price of $0.10 per share for a period of 24 months from the date
of issuance which expires on December 31 st, 2018. Subject to TSX Venture Exchange approval, the expiration of
these warrants will be extended to December 31st, 2019. All other terms of the warrants will remain the same.
2) Puma proposes to extend the expiry date of 1,250,000 outstanding share purchase warrants that were issued
pursuant to a private placement completed on December 30 th, 2016. Each warrant entitles the holder to purchase
one common share in the capital of the Company at a price of $0.15 per share for a period of 24 months from the
date of issuance which expires on December 30th, 2018. Subject to TSX Venture Exchange approval, the expiration
of these warrants will be extended to December 31st, 2019. All other terms of the warrants will remain the same.
Qualified Persons and QC/AC
The content of this press release was prepared by Marcel Robillard, P.Geo., President and Dominique Gagné, P.Geo., Vice
President Exploration of Puma Exploration, qualified persons as defined by NI 43-101, who supervised the preparation and
technical information that forms the basis for 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. Robillard and Mr. Gagné are not independent of the Company, as both are officers and
shareholders thereof.
About the Murray Brook Project
The Murray Brook project consists of three (3) distinct contiguous areas that covers 8,800 hectares and more than 18
kilometers of the favorable rocks that host the operating Caribou Mine (Trevali Mining Corp .), on the east side, the Murray
Brook deposit and the past operating Restigouche Mine (Trevali Mining Corp.). From east to west, the Murray Brook project
comprises the Murray Brook East property (4925), the Murray Brook Mining Lease (#252) and the Murray Brook West
property (7846).
The Murray Brook East and Murray Brook West properties have been subject to various degrees of exploration and share
the same potential of increasing the mineral resources defined at the Murray Brook deposit and several future priority targets
have been defined on these properties.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
About the Murray Brook Deposit
The Murray Brook deposit (Mining Lease #252) covers an area of 484 hectares with a currently defined measured and
indicated mineral resources of 5.28 million tonnes averaging 5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65
g/t gold. The core of this mineral resource occurs in the West Zone which is 200 meters wide, extending from surface to
300 meters vertical and the true thickness of the massive sulphide body varies from 75 meters to 100 meters. The East
Zone (Copper-Gold) is 100 meters wide, also extending from surface to 300 vertical meters and is mainly mineralized with
gold and copper. On February 20th,2017, a NI 43-101 report was accepted and filed on SEDAR.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada.
The Company's major assets consist of an option to acquire 100% beneficial interest in the Murray Brook property, the
wholly owned Turgeon Zinc-Copper project and the Nicholas-Denys project all located in the Bathurst Mining Camp of New
Brunswick. As well as an equity interest in BWR Resources, exploring in Manitoba. Puma’s objective for the coming year is
to focus its exploration efforts in New Brunswick and advance the Murray Brook deposit.
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Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
Marcel Robillard, President
(418) 724-0901
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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 act ual results, performance or achievements of Puma Exploration Inc. 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
Exploration 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.