PUMA Exploration Increases Its Williams Brook Landholdings
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
NEWS RELEASE
PUMA EXPLORATION INCREASES ITS WILLIAMS BROOK LANDHOLDINGS
Rimouski, February 1 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PU XPF) (the "Company" or
"Puma") is pleased to report that it has signed a definitive agreement to acquire 100% interest in 30
claims (the "South-East Moose Brook Property") contiguous to its flagship Williams Brook Gold property.
The acquisition adds by 662 ha to the Williams Brook North land package for a total of 20,662 ha (see
Figure 1). Williams Brook returned 5.55 g/t gold over 50 .15 metres in its inaugural drilling program in
2021 (see Sept. 15, 2021 News Release ) and remains the focus of the Company's 2022 exploration
program. The new claims cover a very prospective area that has seen little exploration in the past.
Figure 1: Puma's landholdings in northern New Brunswick
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Puma's properties are located in an emerging Gold District with great potential. To ensure its control
of the area, the Company secured the most prospective claims surrounding the core of the Williams
Brook property.
"This new land addition further consolidate s our considerable landholdings in the area . We've
increased the overall footprint of the Willi ams Brook property and secured highly prospective and
underexplored areas," stated Marcel Robillard, President and CEO.
Over the past 15 months, the Company completed several transactions to connect a patchwork of
mining claims held by different landowners. Most of these have seen little to no modern exploration
work and have never been consolidated into a contiguous land package before.
ACQUISITION TERMS
To acquire a 100% interest in the South-East Moose Brook property (30 claims), Puma agrees to issue
the Vendor on closing:
a) 50,000 common shares of the Company and a C$10,000 cash payment;
b) 50,000 common shares of the Company on or before the first anniversary of the signing of the
agreement;
c) 100,000 common shares of the Company on or before the agreement's second anniversary.
Additional performance payments to the Vendor:
1) Cash payment of C$25,000 upon a positive preliminary economic assessment (PEA to be
defined in the definitive agreement);
2) Cash payment of C$50,000 upon a positive feasibility study (FS to be defined in the definitive
agreement);
3) One-time cash payment of C$100,000 upon commercial production (commercial
production to be defined in the definitive agreement).
The Vendor will retain a 2% net smelter return ("NSR") royalty on any commercial production from the
property. Fifty percent of the NSR, or 1%, may be purchased by Puma for $1 million. Puma retains the
right of first refusal on the remaining 1% NSR royalty retained by the Vendor. The agreement is subject
to the approval of the TSX Venture Exchange.
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.
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Visit www.explorationpuma.com for more information or contact:
Marcel Robillard,
President, (418) 750-8510;
Mia Boiridy,
Head of Investor Relations and Corporate Development, (250) 575-3305;
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 submitted to
the securities administration.