Puma Exploration Launches its 2023 Drilling Campaign at Williams Brook
News Release
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Puma Exploration Launches its 2023 Drilling
Campaign at Williams Brook
Rimouski, July 6, 2023 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or “Puma”)
is pleased to report that it has launched Phase 1 (2,000 m) of its 2023 drilling program, and the drill is
currently turning at its 100% -owned Williams Brook Gold Project in Northern New Brunswick, Atlantic
Canada.
The fully-funded and permitted 2023 program (minimum of 6,000 m) is focused on the Lynx Gold Zone
(“LGZ”) and is designed with three (3) primary objectives:
1- Extend the continuity of the LGZ at depth and along strike;
2- Validate and refine the existing geological model;
3- Corroborate our current geophysical pathfinder tool.
Figure 1. 2023 drill mobilization at the Lynx Gold Zone
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President and CEO of Puma, Marcel Robillard , commented, "We’ve been diligently studying the lithology
and structural geology at the Lynx Gold Zone to understand what controls gold mineralization to minimize
drilling expenditure and maximize success. The 2023 drill program will mainly test the extension at depth of
the high-grade gold shoots identified by our previous drilling campaigns. It will also verify a series of targets
generated by our ongoing data compilation and analysis that were never drilled before. Recent surface gold
discoveries, including the new quartz vein grading 288 g/t Au, will also be tested at shallow depth. We’re
excited to see the drill turn ing again at the Lynx Gold Zone. We anticipate our 2023 drilling program will
significantly increase the Williams Brook gold inventory and add value for our shareholders."
2023 Drilling Program – Phase 1
An initial fifteen (15) holes for approximately 2,000 m will be drilled to expand beyond 100 m depth, the
high-grade gold shoots identified in 2022 that are oriented NNE and plunging 25-30° (see Figure 2 and
Table 1); test the high-grade gold veins discovered recently and their NW orientation; and gather geological
and structural data to help refine our 3D modelling. Drilling will target:
• The bonanza grade gold veins that returned 2.77 g/t Au over 42.8 m with 13.49 g/t Au over 7.15 m
in hole WB22-66;
• The stacked quartz veins in discovery hole WB-21-02 that graded 5.55 g/t Au over 50.15 m near-
surface;
• The recently discovered NW-dipping quartz vein that returned 288.00 g/t Au, 35.20 g/t Au and 2.78
g/t Au (see June 21, 2023 News release) and other bonanza-grade veins that sampled 371 g/t Au,
121.5 g/t Au and 106.5 g/t Au that were previously drilled, but may have been missed in the 2022
drilling campaign.
Figure 2. Interpreted high-grade gold shoots to be tested at the Lynx Gold Zone
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Table 1. High-grade gold intercepts targeted for follow-up in the 2023 drilling program
Hole ID From (m) To (m) Length (m) Au (g/t)
WB21-01 4.00 6.10 2.10 12.71
WB21-02 0.00 50.15 50.15 5.55
incl. 7.20 10.20 3.00 8.33
and 13.70 15.80 2.10 28.52
and 45.60 49.45 3.85 46.94
WB21-06 46.80 49.70 2.90 16.92
WB21-16 80.00 88.35 8.35 5.11
WB22-25 1.40 11.70 10.30 10.72
WB22-26 21.25 26.50 5.25 5.13
WB22-36 3.80 18.00 14.20 5.83
WB22-57 2.70 15.00 12.30 4.30
WB22-66 31.40 67.55 36.15 3.25
incl. 30.60 35.00 4.40 5.01
and 66.25 73.40 7.15 13.49
WB22-91 6.55 10.75 4.20 9.84
WB22-96 56.90 60.50 3.60 14.90
The results from this first phase of 2023 drilling at the LGZ will help refine our discovery model and provide
valuable information to maximize returns for the planned future phases (minimum 4,000 m) and as we launch
our step-out drilling program along the 3 km extension to the NE or even beyond, to the Panthera Gold
Zone located along strike 12 km away.
About the Williams Brook Gold Project
Puma's flagship Williams Brook Gold Project covers an impressive 44,650 ha of prospective gold
landholdings in Northern New Brunswick, an established and mining-friendly jurisdiction near paved roads
and with excellent infrastructure nearby. The nearby towns of St -Quentin and Bathurst have a history of
forestry and mining. The local communities support the industry and host a skilled labour force.
The land package is located near the Rocky Brook Millstream Fault (“RBMF”), a major regional structure
formed during the Appalachian Orogeny and a significant control for gold deposition in the region.
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Since 20 21, and with only $ 7M of exploration investment, Puma has made four (4) significant gold
discoveries at the Williams Brook property - the Lynx, Cougar, Jaguar and Panthera Gold Zones, with gold
mineralization hosted in quartz veins at surface. The Lynx Gold Zone remains the company’s focus. Still, Puma
believes that a large orogenic/epithermal gold system is present at Williams Brook and is focused on
building a gold camp on the large property package.
Figure 3. Main gold showings and occurrences at the Williams Brook Gold Project
Qualified Person
The technical information of this release was reviewed and approved by Dominique Gagn é, PGeo , a
consultant of Puma and a qualified person as defined by the National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects.
On-Site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick,
where each sample was crushed and pulped before being fire -assayed (Au-ICP21). The remaining coarse
reject portions of the samples remain in storage for further work or verification as needed.
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As part of its QA/QC program, the Company inserts external gold standards (low to high grade), blanks and
duplicates for every batch of samples. All samp les over 10 g/t gold or with abundant visible gold are
analyzed with a gravity finish (Au -GRA22). Check assays are routinely performed for samples with visible
gold to ascertain the gold content of the mineralization zone.
About Puma Exploration
Puma Exploration is a Canadian -based mineral exploration company with precious metals projects near
New Brunswick, Canada's Famous Bathurst Mining Camp ("BMC"). The Company is committed to deploying
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 and CEO, (418) 750-8510;
Mia Boiridy, Head of Investor Relations and Corporate Development, (250) 575-3305;
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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 several 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.