PUMA Exploration Reports Assay Results from Fall 2022 Hq Drilling and Confirms Non-Acid Generating ROCK at the LYNX GOLD Zone
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
NEWS RELEASE
PUMA EXPLORATION REPORTS ASSAY RESULTS FROM FALL 2022 HQ DRILLING AND
CONFIRMS NON-ACID GENERATING ROCK AT THE LYNX GOLD ZONE
Rimouski, March 30, 202 3 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the
“Company” or “Puma”) is pleased to report up to 12.03 g/t gold over 1.50 m in short (only 6 to
18 m depth) HQ holes drilled last fall at the Lynx Gold Zone (“LGZ”). The holes were drilled as
part of an expanded metallurgical test announced on November 15, 2022. Static Acid Base
Accounting and Total Sulphur testing also determined that the rock is non-acid-generating.
“These preliminary results from our expanded metallurgical test are very positive. Our gold -
bearing quartz veins contain almost no sulphide or arsenic. Bulk sampling and potential mining
would therefore be non -acid-generating. These results are significant as they enable us to
further de-risk a potential mining operation at the Lynx Gold Zone ”, notes Marcel Robillard,
President and CEO of Puma Exploration.
The expanded metallurgical test was conducted to better define the gold mineralization
found at surface (within the first 10 metres) at the Lynx Gold Zone, identify opportunities and
potential challenges for gold recovery and help design the flowsheet (recipe) for processing
the upcoming bulk sample. Test work on 300 kg of material collected on each of the 12 main
quartz veins (3,300 kg total) at the LGZ is pending and will be released in the coming weeks.
HQ DRILLING
Eight (8) HQ holes, for a total of 102 m, were drilled on three (3) main quartz veins. Drilling
targeted both high- and low-grade veins (see Figure 1). Since the veins are known to dip, the
holes were collared vertically to hit both the quartz veins at surface and the rhyolite
underneath. Sampling of the quartz veins and the host rock was undertaken to corroborate
the gold results of grab samples collected during surface exploration , verify their acid-
generating potential, identify any negative implications of an open pit operation and provide
valuable information for planning the upcoming bulk sample.
Consistent with results to date, the gold grades of the outcropping quartz veins assayed in the
drill core reflect the gold grades from grab samples collected at surface as shown in holes
WB22-114 with 25.20 g/t Au over 0.45 m, WB22 -118 with 19.65 g/t Au o ver 0.90 m and WB 22-
117 with 7.99 over 0.90 m (see Figure 2). Of note and as anticipated, gold mineralization was
continuous from surface with assays returning 3.05 g/t Au over 6.00 m (WB22-114), 1.23 g/t over
10.00 m (WB22-117), and 2.52 g/t Au over 10.00 m (WB22-118) (see Table 1).
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Figure 1: Location of HQ holes drilled at the Lynx Gold Zone for the metallurgical test
Figure 2: Gold grades from grab samples versus HQ drilling of outcropping quartz veins
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Table 1: Assay results for the short HQ holes drilled at the Lynx Gold Zone
DDH # From To Length Au-Best *Sample
(m) (m) (m) (g/t) rock
WB22-114 0.00 6.00 6.00 3.05 Entire Hole
incl. 0.00 1.50 1.50 12.03 QV+RHY
incl. 0.00 0.45 0.45 25.20 QV
WB22-115 0.00 6.00 6.00 0.36 Entire Hole
incl. 0.50 3.95 3.45 0.50 QV
and 5.60 6.00 0.40 0.93 QV
WB22-116 0.00 9.00 9.00 0.50 Entire Hole
incl. 0.40 5.15 4.75 0.92 RHY+QV
incl. 1.40 5.15 3.75 1.06 RHY
incl. 4.40 5.15 0.75 3.74 QV
WB22-117 0.00 18.00 18.00 0.69 Entire Hole
incl. 0.00 10.00 10.00 1.23 RHY+QV
incl. 0.00 2.70 2.70 4.26 QV
0.00 0.90 0.90 7.99 QV
WB22-118 0.00 18.00 18.00 1.40 Entire Hole
incl. 0.00 10.00 10.00 2.52 QV
incl. 0.00 3.25 3.25 6.60 QV
incl. 0.00 1.90 1.90 10.40 QV
incl. 0.00 0.90 0.90 19.65 QV
WB22-119 0.00 9.00 9.00 0.36 Entire Hole
incl. 1.00 4.80 3.80 0.81 RHY+QV
incl. 1.00 1.85 0.85 1.59 QV
* QV: Quartz Vein, RHY: Rhyolite
Table 2: Technical information for the short HQ holes drilled at the Lynx Gold Zone
DDH East UTM North UTM Azimuth Dip length Core size
Nad83 z19 Nad83 z19 (N) (-) (m)
WB22-114 660 263 5 259 312 360 90 6.00 HQ
WB22-115 660 271 5 259 304 360 90 6.00 HQ
WB22-116 660 275 5 259 305 350 80 9.00 HQ
WB22-117 660 279 5 259 306 350 70 18.00 HQ
WB22-118 660 281 5 259 307 360 90 18.00 HQ
WB22-119 660 268 5 259 314 360 90 9.00 HQ
WB22-120 660 271 5 259 348 360 90 18.00 HQ
WB22-121 660 279 5 259 348 360 90 18.00 HQ
Total: 102.00
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
CONFIRMATION OF NON-ACID-GENERATING ROCK
Acid mine drainage (“AMD”) is a major environmental concern for mining operations. Mining
companies must determine if weathering/oxidation of rock at their mine site produces acid
and must devise and deploy a mitigation strategy to counteract acid production if present.
RPC tested 33 selected samples from the HQ holes drilled on the surface veins and on another
2 holes drilled in 2022 that intercepted the sediment hanging wall. All samples were subjected
to static Acid Base Accounting (ABA) test work . None were found to be potentially acid-
producing. In addition, the total sulphur content in all samples was either very low or below
the detection limit of 0.005%. The ratio between Neutralizing Potential and Acid Production
Potential along with the Total Sul phur results indicate that none of the 33 submitted samples
were acid-producing.
UPCOMING GOLD INVESTOR EVENTS
Puma invites shareholders and interested parties to schedule a meeting at the upcoming
conferences to discuss the Company's recent news and proposed developments:
• Deutsche Goldmesse in Frankfurt
May 5-6, 2023
deutschegoldmesse.online/2023 -spring -companies/
• 121 Mining Investment Event in London
May 9-10, 2023
121 Mining Investment London | 1-2-1 meetings between mining companies and
investors (weare121.com)
ABOUT THE WILLIAMS BROOK GOLD PROJECT
Puma's flagship Williams Brook Gold Project covers more than 5 0,000 ha in Northern New
Brunswick, an established and mining -friendly jurisdiction, near paved roads and with
excellent infrastructure nearby. Since 2021, Puma has made four (4) significant gold
discoveries at Williams Brook, with gold mineralization hosted in quartz veins at surface.
An aggressive exploration program is planned for 2023, including a minimum of 6,000 m of
drilling and a 4,000 T bulk sample.
QUALIFIED PERSON
Dominique Gagné, P.Geo., 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
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.
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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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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 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 u ndue 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.