PUMA Exploration Announces $1.6 Million Financing Led BY a Strategic Investment BY Crescat Capital FOR $960,000
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
PUMA EXPLORATION ANNOUNCES $1.6 MILLION FINANCING LED BY A STRATEGIC
INVESTMENT BY CRESCAT CAPITAL FOR $960,000
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Rimouski, August 05th, 2021 – Puma Exploration Inc., PUMA -TSXV, (the “Company” or “Puma”)
announces a non-brokered private placement of $1,600,000. The Company plans to issue up
to 5,000,000 units at a price of $0.32 per unit ("Unit") for gross proceeds of up to $1,600,000 (the
"Offering"). Crescat Portfolio Management LLC (for itself and/or for accounts managed by
Crescat Portfolio Management LLC (collectively, “Crescat”)), has agreed to be the lead order
by making a strategic investment of $ 960,000 or representing 60% of the proposed financing.
In addition, Crescat requested and secured participation rights that provide for an option to
participate in future financings.
Proceeds from this Offering will be used to increase the current ongoing 2,000-meter diamond
drill program to 10,000 -meter at the Williams Brook Gold Project, located in New Brunswick,
Canada and for general working capital purposes. “We are encouraged by the near-surface,
high-grade gold that Puma is encountering in New Brunswick. We are excited to infuse capital
to help the company with its goal of quintupling the planned meters of drilling this season ,”
commented Kevin Smith, Crescat's Chief Investment Officer.
Marcel Robillard, President & CEO of Puma, added “We are extremely pleased to welcome
Crescat, as a significant strategic shareholder of the Company as we continue to unlock the
mineral potential of the Williams Brook Gold Project . The confidence Crescat and its world -
renowned technical advisor, Dr. Quinton Hennigh, have shown in Puma is a vindication of our
belief of the potential of the Williams Brook Gold Project . This financing will allow us to
advance exploration more aggressively at our flagship project which cover s 27,000 hectares
of favourable geological setting.”
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
“Puma's Triple Fault Gold Project is a grass roots success in a prolific gold belt," commented Dr.
Quinton Hennigh, technical advisor to Crescat Capital. "Newfoundland has become a hot
bed of exploration over the past year, but the same geology continues into New Brunswick to
the southwest. Puma has identified similar high -grade gold mineralization to that seen in
Newfoundland and has already identified multiple high -grade targets. Furth er prospecting is
expected to generate more. We are very happy to join Puma as a shareholder at a time
when they are beginning to drill test these exciting targets."
Each Unit will be comprised of one common share of the Company and one common share
purchase warrant, with each warrant exercisable to purchase one additional common share
at an exercise price of $0.50 for a period of 24 months. The Company may pay finders’ fees in
relation to a portion of this Offering. The Offering and payment of finders ’ fees are subject to
acceptance of the TSX Venture Exchange . The Offering is fully subscribed and it is expected
that the closing will occur on or about August 13, 2021 (the "Closing Date"). All securities issued
pursuant to this Offering and any shares issued pursuant to the exercise of warrants will be
subject to a four-month hold period from the Closing Date.
ABOUT CRESCAT CAPITAL LLC
Crescat is a glob al macro asset management firm headquartered in Denver, Colorado.
Crescat's mission is to grow and protect wealth over the long term by deploying tactical
investment themes based on proprietary value -driven equity and macro models. Crescat's
goal is indust ry leading absolute and risk -adjusted returns over complete business cycles with
low correlation to common benchmarks. Crescat's investment process involves a mix of asset
classes and strategies to assist with each client's unique needs and objectives and includes
Global Macro, Long/Short, Large Cap and Precious Metals funds.
Crescat is advised by its technical consultant Dr. Quinton Hennigh on gold and silver resource
companies. Dr. Hennigh became an economic geologist after obtaining his PhD in
Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of
exploration experience with major gold mining firms that include Homestake Mining, Newcrest
Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp and
currently serves as Chairman. Among his notable project involvements are F irst Mining Gold's
Springpole gold deposit in Ontario, Kirkland Lake Gold's acquisition of the Fosterville gold mine
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One's Tuvatu gold project
on Fiji, among many others.
O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting
significant gold showings and occurences followed by trenching 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 with selected drill results of 11.2 g/t over 2.8m, 2.1 g/t Au over 9.0m, and 1.0 g/t over
23m.
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 altered horizon varies from 5 to 250 meters with an average apparent thickness of
150 meters.
Numerous quartz veins, quartz veinlets, stockworks and breccias were observed mostly
perpendicular to the major trend and contain the gold mineralization. The OGT has never
been drilled and many gold zones were discovere d during the summer 2020 exploration
campaign.
High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG**): 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au
Pepitos Gold Zone (VG**): 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au
Lynx Gold Zone (VG**): 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au
Chubby Zone Area: 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au
Moose Gold Zone: 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au
* Selected rock grab samples are selective by nature and may not represent the true grade or style
** VG: Visible Gold
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 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. 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
years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in
order to generate maximum value for shareholders with low shares dilution.
The securities described herein have not been, and will not be, registered under the Unites
States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities
laws, and may not be offered or sold in the Unites States without registration under the U.S.
Securities Act and all applicable state securities laws or compliance with requirements of an
applicable exemption therefrom. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the Unites States, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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Learn more by consulting www.explorationpuma.com for further information on Puma.
Marcel Robillard, President, (418) 750-8510; [email protected]
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
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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 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 undertakes no obligation to publ icly 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.