PUMA Exploration Closes $750,000 Private Placement
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
PUMA EXPLORATION CLOSES $750,000 PRIVATE PLACEMENT
Rimouski, December 17th, 2020 – Puma Exploration Inc., PUMA -TSXV, (“Puma”) is pleased to
announce the closing of the fully subscribed current ordinary units private placement for an
amount of $ 750,000. The Company issued 5 million units (“Units”) at the price of $0.15 per Unit.
Each unit comprises one common share and one common share purchase warrant. Each
warrant gives its holder the right to purchase one common share at a price of $0.25 per share
until December 17, 2022.
In connection with the private placement, the company has paid cash finders' fees totalling
$15,315 and issued 364,200 finders' warrants, each entitling the holder to acquire one additional
common share of Puma at a price of $0.15 for 24 months. All securities issued to purchasers and
finders under the offering are subject to a four -month holding period from the date of issuance
of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture
Exchange. The placement has received the conditional approval of the TSX Venture Exchange.
The company will use the proceeds of the offering for working capital purposes, and to explore
its current flagship Triple Fault Gold Project.
The technical team is still on site on the Willi ams Brook Gold property to finalize the summer
exploration program which currently includes the trenching and stripping of the new discoveries
made during the initial phase of exploration.
The net proceeds from the offering will be mainly used for the exploration of the flagship Triple
Fault Gold Project in New Brunswick, including, but not limited to, proceeding with district -scale
Heli-Borne Geophysics surveys, to initiate the first drilling program on the Williams Brook property,
to begin the drilling program on its Chester Copper Project, as well as for general corporate
purposes.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
O’NEIL GOLD TREND (OGT)
The first phase of the 2020 summer exploration program lead to the discovery of the GOLD O’Neil
Showing with the presence of a significant and pervasive potential gold trend over 5.0km along
the O’Neil Gold Trend (OGT). The O’Neil Showing consists of an altered and brecciated rhyolite
injected with quartz veins and quartz stockworks. The altered and brecciated rhyolite is open in
all directions.
The highest gold sample, grading 128.0 g/t Au, is part of the main quartz vein (ranging from 30 -
50 cm) followed and sampled, so far, over 10 meters in length. The average gold grade sample
of the vein of 30.86 g/t Au over 10 meters (128.0 g/t Au, 35.2 g/t Au, 18 g/t Au, 14.5 g/t Au, 10.25
g/t Au, 8.33 g/t Au and 1.74 g/t Au), was estimated from chip and grab samples collected
continuously every 1.5 meters on the main vein.
Following the hand and shovel cleaning of the main vein, surrounding quartz stockworks and
veinlets within the rhyolite were found, sampled and reported respectively high grade gold o f
16.90 g/t Au, 8.24 g/t Au, 6.14 g/t Au, 3.57 g/t Au, 2.2g/t Au, and 1.14 g/t Au.
TRIPLE FAULT GOLD PROJECT
The Triple Fault Gold Project includes three (3) properties named Williams Brook, Jonpol Gold, and
Portage Lake, covering more than 19,147 hectares of favorable gold exploration land package.
The project is located about 60 km west of Bathurst with the paved road cross -cutting the
property.
Puma is currently focusing its field work on its first priority, the Williams Brook property. The Williams
Brook property includes 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, gold occurrences grading up to 109.0 g/t Au, 50.8 g/t Au, 38,9 g/t Au in bedrock,
numerous gold soil anomalies and extremely anomalou s till samples with up to 508 gold grains
that occur over an area approximately 12 by 3 kilometers.
There has been very limited drilling and exploration in the area mapped to be part of the
Dunnage Zone hosting major gold deposits and gold occurrences in siluro -devonian rocks and
considered as an emerging gold exploration and development district.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
QUALIFIED PERSONS
Dominique Gagné, PGeo, independ ent 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% passing 75 microns (Prep -31B).
A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au -ICP21). Rock
sample ICP results with gold >1g/t were subjected to a metallic screening (Au -SCR24) 1kg pulp
screened to 100 microns. Other screen sizes available. Duplicate 50 g 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.
You can visit us on Facebook / Twitter / LinkedIn
Learn more by consulting www.pumaexploration.com for further information on Puma.
Marcel Robillard, President, (418) 724-0901; [email protected]
Christian Tweedy, Communications, (604) 619-5810; [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 no t 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 un certainties are described in the quarterly and annual
reports and in the documents submitted to the securities administration.