Puma Exploration Closes the Sale of the Chester Project
News Release
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Puma Exploration Closes
the Sale of the Chester Project
Rimouski, Québec, October 3, 2024 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the
“Company” or “Puma”) announces the closing of the sale of the Chester Project to Raptor Resources Ltd.
(“Raptor”) and certain amendments to the terms of the previously announced transaction s (see News
Releases dated March 4, 2024, July 2, 2024 and September 10, 2024). The cash and share components for
the sale of the Chester Project remain ed unchanged, and Puma is pleased to report that Raptor has
satisfied the conditions of the sale with its payment of AUD $500,000 and 4,000,000 Raptor shares.
Considering the continued deterioration of market conditions , Raptor recently notified Puma of the
withdrawal of its prospectus for its initial public offering (IPO), which aimed to raise up to AUD $10 million
through the issuance of shares at AUD $0.20 each but remains fully committed to its projects and focussed
on carrying an IPO or reverse take over (RTO) listing on the Australian Securities Exchange (ASX) in early
2025. Given this context, Puma agreed to amendments to the initial transaction agreements to finalize the
Chester Project sale. More particularly, Puma agreed to receive 4,000,000 unlisted Raptor shares that will
convert to listed shares once Raptor completes its IPO or RTO listing.
The consideration receivable by Puma for the sale of the Turgeon Project remains unchanged, consisting
of a cash payment of AUD $ 375,000 and AUD $375,000 worth of Raptor shares (listed) at the latest on
June 30, 2025.
Marcel Robillard, President and CEO of Puma, commented. “We appreciate Raptor’s continued efforts to
close its acquisition of the Chester Project. The AUD $500,000 payment to Puma represents a substantial
non-dilutive injection of cash that allows us to continue to develop our Williams Brook Gold Projec t and
increase shareholder value. This transaction showcases Puma’s innovative D.E.A.R. corporate strategy that
has been successful time and again with property acquisitions, sales, and out -of-the-box thinking to
generate added value for shareholders. This is especially critical now, at a time when market s, despite
record-high commodity processes, are not supporting junior explorers.”
About Puma Exploration
Puma Exploration is a Canadian-based mineral exploration company with precious metals projects in New
Brunswick, near Canada's Famous Bathurst Mining Camp ("BMC"). Puma has a long history in Northern
New Brunswick, having worked on regional projects for over 15 years. As a first mover, the Company
quickly and strategically accumulated an impressive portfolio of prospective gold landholdings in the area.
Puma’s successful exploration methodology combines old prospecting methods with detailed trenching
and up-to-date technology such as Artificial Intelligence (“AI”) to facilitate an understanding of the geology
and associated mineralized systems.
News Release
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Armed with geophysical surveys, geochemical data and consultants’ expertise, Puma has developed a
perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results.
The Company is also committed to deploying its DEAR strategy (Development. Exploration. Acquisition.
and Royalties) to generate maximum value for shareholders with low share dilution.
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Visit www.explorationpuma.com for more information or contact:
Marcel Robillard, President and CEO.
(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) accepts 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 several known and unknown risks, uncertainties, and other factors that 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. The quarterly and annual reports and the documents submitted to
the securities administration describe these risks and uncertainties.