PUMA Exploration Provides Corporate Update
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
PUMA EXPLORATION PROVIDES CORPORATE UPDATE
Rimouski, March 10, 2021 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or
"Puma") is pleased to provide an update on corporate matters, including the outcome of the
extraordinary meeting of shareholders, the appointment of a new director, the grant of options
and the execution of another property acquisition.
EXTRAORDINARY MEETING OF SHAREHOLDERS
The reduction of the stated capital of the Company's common shares submitted to shareholders
for approval as set out in Puma Exploration Inc.'s circular dated January 2022 was approved at
the extraordinary meeting of shareholders held virtually on March 9, 2022.
NOMINATION OF JACQUES DION TO PUMA'S BOARD OF DIRECTORS
Mr. Jacques Dion has been appointed to Puma's Board of Directors effective immediately. Mr.
Dion has more than 30 years of experience in environmental assessment, the management and
transportation of hazardous materials, as well as emergency spill response planning. Following
the Lac-Mégantic rail disaster, he was Project Director for recovering and treating petroleum
hydrocarbon impacted water. He was involved in 4 major northern mil itary site clean -up
projects: Resolution Island, FOX -C, Cape Christian, and Cape Dyer. Mr. Dion also designed a
solid waste management plan for the City of Iqaluit. He is a Board member and founder of
Avataani Environmental Services with a local Nunavik partner. He also acted as Vice-President
and Board member for 14 years with Qikiqtaaluk Environmental Services, an Inuit firm located in
Iqaluit.
"We're delighted to have Jacques join our Board. ESG is woven into the fabric at Puma , and
Jacques' experience will be very beneficial as we continue to grow our Williams Brook Gold
Project. With the addition of Jacques to the Board, our team has a demonstrated record of
success in exploration, environmental assessments and mine start -ups. Puma is becoming a
major player in the emerging New Brunswick gold space ; we're assembling the know-how to
ensure its continued success," commented Marcel Robillard, Puma's President and CEO.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
ADDITIONAL PROPERTY ACQUISITION
Puma has signed a definitive agreement (the "Agreement") to acquire the Ferguson Brook
mineral claims from Slam Exploration Inc. ("Slam"). The Ferguson Brook mineral claims comprise
42 claim units covering 912 hectares of prospective land adjacent to the Williams Brook Gold
Project.
To earn 100% interest in the Ferguson Brook mineral claims, Puma agrees to issue Slam on closing:
(a) a $15,000 cash payment and 250,000 common shares of the Company;
(b) a $25,000 cash payment upon a Positive Preliminary Economic Assessment;
(c) a $50,000 cash payment upon a Positive Feasibility Study;
(d) a $100,000 one-time cash payment upon reaching Commercial Production.
The Ferguson Brook mineral claim s are defined as two (2) properties. Property A comprises 35
claim units that Slam acquired by staking. Property B comprises a 7-unit portion of the Property
that Slam acquired through an "Underlying Agreement" with a third party. Slam retains a 2% net
smelter return ( "NSR") royalty on any commercial production from Property A. Fifty percent of
the NSR royalty (i.e.,1%) may be purchased by Puma for $1,000,000. Puma retains a right of first
refusal on the remaining 1% NSR royalty that Slam holds.
Slam will retain a 1% net smelter return ( "NSR") royalty on any commercial production from
Property B. Fifty percent of the NSR royalty (i.e., 0.50%) on Property B may be purchased by
Puma for $500,000. Puma retains a right of first refusal on the remaining 0. 50% NSR royalty that
Slam holds. Puma will respect the terms and assume the NSR commitment of the Underlying
Agreement on Property B. The agreement is subject to the approval of the TSX Venture
Exchange.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Figure 1. Puma's landholding at Williams Brook
GRANT OF OPTIONS
Pursuant to its Stock Option Plan and subject to regulatory acceptance, Puma has granted an
aggregate total of 650,000 incentive stock options to certain Company directors, advisers, and
consultants. The options vest immediately and are exercisable at a price of $0.50 per common
share until March 10, 2024.
QUALIFIED PERSON
Dominique Gagné, PGeo, a qualified person as defined by Canadian National Instrument 43-
101 standards, has reviewed and approved the geological information reported in this news
release.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
COVID-19 PRECAUTIONS
Puma has developed and implemented precautions and procedures compliant with Québec
and New Brunswick's health guidelines. Strict protocols are in place to ensure the safety of all
staff, thereby reducing the potential of community contact and spreading of the virus.
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.