PUMA Exploration Accelerates Option Agreement Payments to Acquire 100% Ownership IN Its Williams Brook GOLD Project
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
PUMA EXPLORATION ACCELERATES OPTION AGREEMENT PAYMENTS TO ACQUIRE 100%
OWNERSHIP IN ITS WILLIAMS BROOK GOLD PROJECT
Rimouski, November 23rd, 2021 – Puma Exploration Inc., PUMA-TSXV, (the “Company” or “Puma”) is
pleased to announce that it has completed all the option agreement payments in order to complete
the 100% acquisition of the Williams Brook Gold Project located in New Brunswick (see Figure 1).
Figure 1: Puma Exploration Holdings at its Williams Brook Gold Project Area
Following the extraordinary success of the drilling campaign with discovery hole WB21 -02 returning
5.50 g/t over 50.15 meters and the new gold occurrences to the northeast, extending the continuous
gold mineralised corridor for more than 275 meters along the O'Neil Gold Trend, Puma accelerated
the execution of all the option agreements covering the Williams Brook Property.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
The acquisition and the consolidation of the Williams Brook Gold project began in early 2020 and
most of the properties were currently standing at the second year of the four (4) years option
agreements. A total of 25 contiguous claim blocks were consolidated and constitute the entire land
package of the Williams Brook Property . Puma decided to accelerate the payments to fulfil l all the
requirements under the various agreements and proceed with the titles transfers.
Consequently, Puma is the 100% registered holder of the minerals rights totalling 32,214 hectares. The
exploration work conducted on the property is sufficient to cover the minimum work expenditures
requirement with the New Brunswick government and to renew the properites for the next few years.
“The aggregation of all the Williams Brook Gold c laim group through the buyout of the options will
enable the Company to better allocate its exploration expenditures and ensure a more efficient
utilization of financial and human resources to thoroughly and systematically explore for gold on our
extremely well positioned properties in the new emerging g old district of New Brunswick ,” notes
Marcel Robillard, President of Puma Exploration.
O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant
gold showings and occurrences followed by trenching and drilling over a strike length of 700 meters.
The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar
and parallel to the structures hosting the “Williams 1 ” and “Williams 2” Gold Zones where previous
operator drilled in 2008, 54.2 g/t Au over 2.8 meters and 1 g/t Au over 23 meters.
These trends are interpreted to be related to a major rifting in the New Brunswick Geological events
and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the
rhyolite varies from 5 to 250 meters with an average apparent thickness of 150 meters.
The core-oriented maiden drill campaign was completed on August 20, 2021. It consisted of 18 holes
for a total of 2,360 meters that tested a 200-meter segment of the 700-meter-long O’Neil Gold Trend
(OGT). The assay results for the twelve (12) first holes are released and all holes intersected significant
gold mineralisation including the discovery hole WB21-02 that cut 5.55 g/t Au over 50.15 meters from
surface, including 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
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 P rovider (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% passi ng 75 microns (Prep -31B). A 30 -
gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). 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 year s to deploy its
DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum
value for shareholders with low shares dilution.
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Learn more by consulting www.explorationpuma.com for further information on Puma.
Marcel Robillard, President, (418) 750-8510; [email protected]
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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 achie vements 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.