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PUMA.V ·

PUMA Exploration Announces Date FOR Annual and Special Meeting of Shareholders

Shareholder Meetings

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

NEWS RELEASE

PUMA EXPLORATION ANNOUNCES DATE FOR ANNUAL AND SPECIAL

MEETING OF SHAREHOLDERS

Rimouski, August 4, 2022 – Puma Exploration Inc. ( TSXV: PUMA, OTCQB: PUMXF) (the "Company" or

"Puma") announces that its 2022 Annual and Special Meeting of Shareholders (the "Meeting") will be

held on Tuesday, August 30, 2022, at 2 pm (EDT).

Again, t his year, the Co mpany will hold the Meeting via a live webcast at https://virtual-

meetings.tsxtrust.com/1391, where all Shareholders and their proxy holders, regardless of geographic

location, will have an equal opportunity to participate. Shareholders and proxy holders will not be

able to attend the Meeting in person. Further details and instructions about virtual participation are

included in the Meeting materials available on the Company's website and under Puma's profile on

www.SEDAR.com

NEW "ROLLING 10%" STOCK OPTION PLAN

At the Meeting, Shareholders will be asked to vote on a new "rolling 10%" stock option plan (the "New

Plan") that was approved by Puma's Board of Directors. TSX-V approval is pending. The New Plan will

replace the Company's "fixed number" stock option plan. Under the New Plan, the Board of Directors

may grant stock options to directors, officers, employees, and consultants of the Company up to a

maximum of 10% of the total number of issued and outstanding shares of the Company from time to

time, less any shares reserved for issuance under the " fixed number" option plan. The Management

Information Circular for the 2022 Annual and Special Meeting of Shareholders provides more details

about the New Plan.

UPDATE ON ADDITIONAL WARRANTS EXERCISE

Outstanding warrants (the "Warrants") issued in connection with Puma 's August 2020 private

placement financing ( see News Release dated August 4, 2020) have been exercised, resulting in

aggregate proceeds of CAD$394,810. The Warrants were exercisable into one common share of the

Company at CAD$0.15 per common share and expired on August 4, 2022. No commission was paid

in connection with the exercise of the Warrants. The Company will use the proceeds to continue

exploration on its 100% -owned Williams Brook Gold Project in New Brunswick, Atlantic Canada and

for general working capital purposes.

Puma has a total of 118,970,321 shares issued and outstanding as of today.

PUMA TSXV

175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com

ABOUT PUMA EXPLORATION

Puma Exploration is a Canadian -based mineral exploration company with precious metals projects

located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is

committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate

maximum value for shareholders with low share dilution.

Connect with us on Facebook / Twitter / LinkedIn

Visit www.explorationpuma.com for more information or contact:

Marcel Robillard,

President, (418) 750-8510;

[email protected]

Mia Boiridy,

Head of Investor Relations and Corporate Development, (250 ) 575-3305;

[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this

release.

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 publicly update or revise any forward -looking statements. These risks and

uncertainties are described in the quarterly and annual reports and in the documents submit ted to

the securities administration.