Puma Exploration Samples 288 g/t Gold* in Preparation for Upcoming Drill Program
News Release
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Puma Exploration Samples 288 g/t Gold* in
Preparation for Upcoming Drill Program
Rimouski, June 21, 2023 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the “Company” or
“Puma”) is pleased to announce results from its ongoing 2023 exploration program at its 100% -owned
Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. Grab samples* on a new gold-
bearing quartz vein at the Lynx Gold Zone (“LGZ”) graded up to 288.00 g/t Au, 35.20 g/t Au and 2.78 g/t
Au (Figure 1). Furthermore, additional trenching and detailed mapping, conducted since the beginning of
May 2023, identified a different dipping orientation for some quartz veins that were missed by previous
drilling. These new veins will be prioritized for testing in the upcoming drilling program.
Figure 1. Surface mapping of the Lynx Gold Zone
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The Company continues to interpret data and refine its geological model to maximize the return on
investment on its exploration program and cost-effectively build gold ounces at the Lynx Gold Zone and
throughout the property package. Of note, the ongoing exploration program has not been impacted by
forest fires and the technical team has full access to the entire land package. The Company expects to
release results as they are received throughout the summer and fall.
“Understanding and modelling the Lynx G old Zone is critical to unlocking the area’s full potential and
building a gold camp at the Williams Brook Gold Project. Unlike many other exploration companies, we can
gain incredibly valuable information through very low -cost surface exploration work because the gold -
bearing veins we’re targeting start at surface. With only 13,000 metres of drilling, we’ve defined an area that
spans 750 m along strike, is 75 m wide and 100 m deep. We know the LGZ is open at depth and 3 km along
strike. Our upcoming 2023 drilling program will expand that zone, and our ongoing surface exploration
work will ensure we maximize returns there and throughout the 46,000ha Williams Brook land package ” ,
said Marcel Robillard, President, and CEO of Puma Exploration.
In May, additional trenching, mapping, and sampling were completed at the Lynx Gold Zone to refine our
modelling of the favourable contact between the altered sediment and the rhyolite in preparation for the
upcoming drilling program. Along this corridor, high-grade gold mineralization appears to be hosted in
quartz veins of varying widths (tens of metres to metres) that follow three (3) main orientations: ~N260,
~N020 and ~N340.
Forty (40) samples (Table 1) were collected at the LGZ in quartz veins, altered rhyolite and altered sediment.
A new gold quartz vein oriented NE (~N020) was discovered and graded 288.00 g/t Au, 35.20 g/t Au, 2.78
g/t Au and 0.81 g/t Au. This vein, previously covered by overburden , was missed in the 2022 drilling
campaign because all veins were thought to be dipping NW.
Dominique Gagné, Puma’s Chief Geologist, commented, “The geometry of the gold -bearing quartz vein
system at the Lynx Gold Zone is complex. We must study each mineralized vein carefully to understand the
gold environment and build our model. Gold mineralization, starting at surface , gives unprecedented
access to information that would otherwise take months and lots of expenditure to gather through drilling
It also allows us to limit trial and error. We can target veins that carry lots of gold at surface and maximize
drilling success as we did in hole WB21-02, which intersected 5.55 g/t over 50.15 m and hole 22-66, which
returned 3.49 g/t Au over 7.15 m. “
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Table 1. Spring 2023 LGZ grab sampling* highlights (over 0.1 g/t Au)
Sample X Y Z Lithology Au g/t
G237022 660373 5259477 389 Quartz vein 0.30
G237026 660341 5259473 389 Quartz vein 0.64
G237027 660341 5259474 389 Quartz vein 35.20
G237028 660342 5259475 389 Quartz vein 0.81
G237029 660343 5259477 389 Quartz vein 288.00
G237030 660343 5259478 389 Quartz vein 2.78
G237031 660371 5259477 386 Quartz vein 0.22
G237032 660350 5259426 391 Quartz vein 0.17
G237049 660346 5259381 389 Quartz vein 0.25
G237110 660345 5259381 389 Quartz vein 0.36
*The reader is cautioned that grab samples are selective by nature and may not represent the true metal
content of the mineralized zone.
Upcoming 2023 drilling program at t he Lynx Gold Zone
Since 2021, Puma has systematically drilled 13,100 m at the LGZ to target gold-bearing quartz veins at the
contact between rhyolite and sediments. A large gold zone has now been defined 750 m along strike, 75
m wide and to a depth of ~100 m . Data compilation identified three (3) main areas of gold enrichment
with several potential high -grade gold shoots that plunge 25 degrees NE . The 2023 drilling program ,
planned to begin very shortly, will prioritize the extension of these high -grade gold shoots at depth and
define the geometry of several high-grade gold veins containing disseminated sulphides with associated
pathfinders (Ag-Bi-Cu-Pb-Sb-Te-Zn) for gold mineralization. In addition, step -our drilling along a 3km
corridor to the NE will test the extension of the LGZ gold mineralization along strike.
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 (Figure 2). 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.
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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. Since
2021, 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 2. 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.
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On-Site Quality Assurance/Quality Control (“QA/QC”) Measures
Grab and drill core samples were bagged, sealed, and sent to the facility of ALS CHEMEX in Moncton, New
Brunswick, where each sample was dried (grab sample), 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. 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 samples 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.
Current Gold Investor Events
Puma invites shareholders and interested parties to schedule a meeting in Quebec City to discuss
today’s news and proposed developments:
The Mining Investment Event of the North
Voltigeurs de Québec Armoury
June 19-21, 2023
Register for the event at VID Conferences | THE Event 2023
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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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 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.