Puma Acquires the Jonpol Gold Project in Northern New Brunswick, Canada
175, rue Legaré | Rimouski (Québec) G5L 3B9
PUMA TSXV
www.explorationpuma.com
PRESS RELEASE
Puma Acquires the Jonpol Gold Project in Northern New Brunswick, Canada
Rimouski, October 17th, 2019 – In line with its DEAR Strategy, Puma Exploration (PUM-TSXV) has
signed a purchase agreement to acquire the Jonpol Gold Project located in the Murray Brook area
from local prospectors. Numerous gold occurrences have been identified and are associated with
gabbroic intrusions located along a major subsidiary fault of the Rocky Br ook Millstream Fault
(RBMF). Grab samples collected in trenches reported grades of 17.1 g/t Au, 14.8 g/t Au, 10.6 g/t
Au, 6.8 g/t Au, 5.1 g/t Au, and 3.4 g/t Au. The RBMF represents a major structure trending ENE
formed by the Acadian Orogeny. It hosts numerous showings and deposits and represents a perfect
plumbing system for mineralized fluids.
The Jonpol Gold Project covers 16 claim blocks for 2,745 hectares and is located only 5km North-
West of the Murray Brook Project. Very limited diamond drilling has been done on the property which
is underlained by sedimentary rocks and mafic intrusi ons. Drill results reported w ere 1.13 g/t Au
over 12.0m, 1.37 g/t Au over 6.0m, 1.37 g/t Au over 1 .4m, 3.89 g/t Au over 1.0m , and 2.78 g/t
Au over 1.5m.
In 2017 and 2018, till samples were collected and gold grain count analyses of heavy metal
concentrates (HMC) were carried out. The till surveys identified a significant anomaly in the eastern
part of the property with up to 19 gold grains that included 9 pristine and 8 modified, indicating a
limited glacial transport. Grade of 923 ppb Au for the HMC sample was reported.
The Purchase Agreement covers the Jonpol Gold Project located in Northern New Brunswick.
Puma will acquire a 100% interest in the claims by issuing 4,000,000 shares (pre-consolidation). The
vendors keep a net smelter royalty (NSR) of 2%. Puma retains the right to repurchase 1% NSR for
$1,000,000. Puma must keep the claims in good standing but does not have any minimum work
commitments. The transaction is subject to the TSXV Exchange approval.
DEAR STRATEGY
In connection with the current reorganization of the Company, Puma has defined a four-part strategy
for 2019 -2020 and beyond: Development, Exploration, Acquisition and Royalties/Ownership
(DEAR).
Each part of this strategy is aimed at generating value for shareholders and are defined as follows:
• Development of the Murray Brook Deposit, where the gossan and oxide zones will be
investigated to determine the economics and upside potential of the precious metal contents
and recovery within these zones. The goal is to convert the surface zone materials that were
previously categorized as waste to potential mineable ore.
• Exploration of our advanced stage projects located at the Murray Brook Deposit and Chester
Property, aimed at discovering new satellite and conti guous deposits with our drill -ready
targets. The objective is to define the 10 best drilling targets at Murray Brook and Chester.
175, rue Legaré | Rimouski (Québec) G5L 3B9
PUMA TSXV
www.explorationpuma.com
• Acquisition of prospective new properties using our expertise and knowledge acquired in the
last 15 years of exploration in New Brunswick will offer a variety of different metals exposures
and potentially allow us to make new discoveries within these potential new properties.
• Royalties and ownership gained through the sell -off of non -core assets to third parties
represent a poten tial major financial upside without direct dilution. Currently, Puma holds
14,200,000 shares (48%) of Target Minerals Inc. (1% NSR on Nicholas-Denys) and 100% of
Murray Brook Minerals Inc. (0.67% NSR on Murray Brook) and will hold 5,750,000 shares
(8%) of BWR Exploration Inc. (1% NSR on Little Stull Lake). Puma has also an option
agreement to sell the Red Brook Project to Rio Tinto.
ABOUT PUMA EXPLORATION
Puma is a Canadian mineral exploration company with advanced and early stage precious and base
metals projects in Canada. While the priority remains to secure and finalize the acquisition of the
Murray Brook project in New Brunswick, the emphasis will be directed to execute its DEAR Strategy
to generate value to its shareholders. Puma is currently holding one of the largest land packages in
the prolific Bathurst mining camp in northern New Brunswick, Canada.
QUALIFIED PERSONS AND QC/AC
Technical information provided in this news release was prepared and reviewed by Marcel Robillard,
P.Geo., President of Puma Exploration, qualified person as defined by NI 43 -101. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr.
Robillard is not independent of the Company, as is officer and shareholders thereof.
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Learn more by consulting www.pumaexploration.com for further information on Puma.
Marcel Robillard, President
(418) 724-0901
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Forward-Looking Statements: This press release may contain forward -looking statements. Such forwa rd-
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 i mplied 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.