PUMA Exploration Signs Strategic Land Package Agreement to Extend Its Williams Brook GOLD Property
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
PRESS RELEASE
PUMA EXPLORATION SIGNS STRATEGIC LAND PACKAGE AGREEMENT
TO EXTEND ITS WILLIAMS BROOK GOLD PROPERTY
Rimouski, March 1, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or "Puma")
is pleased to report that it has signed a definitive agreement to acquire 100% interest in another 341
claims ("the Claims"), in nine (9) separate claim blocks, contiguous to its flagship Williams Brook North
property. The Claims add another 7,443 ha to the land package for a total of 29,522 ha. The Williams
Brook Gold property is the ongoing focus of the Company's 2022 Exploration Program. The new claims
are located along strike of the gold trends identified at Williams Brook to date (see Figure 1). While
there's been limited exploration carried out on the C laims so far , trenching undertaken in 2021
returned gold results up to 8.67 g/t Au . Puma will compile and analyze available data this winter in
preparation for a comprehensive surface exploration program next summer.
Figure 1: Williams Brook Gold Property claims map
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Over the past 15 months, Puma has consolidated a patchwork of mining claims that had seen little
to no modern exploration work. The Company's successful 2021 exploration program, combined with
the initial visual observations from the current 10,000 metres drilling program at The O'Neil Gold Trend
("OGT"), were catalysts to secure more ground with similar potential contiguous to the existing
landholding.
MORE ABOUT THE CLAIMS
In 2020, a new logging road exposed potassic rhyolite rocks containing quartz veins. Trenching in the
summer of 2021 led to a gold discovery. Seven (7) out of 9 samples from an initial trench (Trench 1)
returned more than 1g/t Au with notable grades of 5.92 g/t Au, 5.15 g/t Au, 4.05 g/t gold and 3.09 g/t
Au. Following this success, 30 metres to the south, a second trench exposed the same mineralization
and returned 8.67 g/t Au, 6.18 g/t Au, 2.10 g/t Au, 1.18 g/t Au and 1.0 g/t Au.
This gold discovery appears to coincide with a large -scale mag anomaly. Puma will undertake a
detailed compilation of trenching results and geophysical data this winter in preparation for next
summer's grassroots exploration program over the entirety of the property. The Claims have never
been drilled before. The summer 2022 surface exploration work will enable the Company to identify
targets for future drilling.
ACQUISITION TERMS
To acquire a 100% interest in the Claims (341 claims), Puma agrees to issue the Vendor on closing:
a) 250,000 common shares of the Company and a C$40,000 cash payment;
b) 250,000 common shares of the Company and a C$40,000 cash payment on or before the first
anniversary of the signing of the agreement;
c) 250,000 common shares of the Company and a C$50,000 cash payment on or before the
agreement's second anniversary.
d) 250,000 common shares of the Company and a C$50,000 cash paymen t on or before the
agreement's third anniversary.
Additional performance payments to the Vendor:
1) Cash payment of C$25,000 upon a positive preliminary economic assessment;
2) Cash payment of C$50,000 upon a positive feasibility study;
3) One-time cash payment of C$100,000 upon commercial production.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
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.
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.
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.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
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 submit ted to
the securities administration.